It’s been tough sledding for the accounting profession lately. Every few weeks, some major national publication is more than happy to point out the steady decline of the profession. No wonder college students and young professionals are questioning whether the CPA license is still worth it.
To be sure, the accounting profession has a lot of catching up to do. Public accounting is still notorious for crippling hours and work / life balance, and the profession is losing ground to other lucrative career paths like data analytics and software engineering.
Chief among these challenges is the elephant-in-the-room 150 credit hour requirement to sit for the CPA exam. Unfortunately, the accounting brass still believes a fifth year of college, costing an average of $26k, is still critical.
Despite all of these challenges, there are still plenty of benefits to having a CPA. It’s the gold-standard in the accounting profession and it’s highly respected across the business world. The world will always need accountants, especially those on the cutting edge of related fields and emerging technology.
Whether you’re just starting out and exploring career options or are already planning to become a CPA but starting to lose some motivation, here are the top 5 reasons why becoming a CPA is totally worth it.
Contents
5 Reasons Why a CPA is Still Worth it
CPAs Make More Money (duh!)
It’s hard to overstate how much more earning potential becoming a CPA will give you.
For starters, most public accounting firms offer some sort of bonus for passing the exam, often between $2,000 – $5,000! That’s a fat stack of cash to put towards a hard-earned vacation with enough left over to pay down those pesky student loans.
Bonuses are nice and all, but they’re nothing compared to the increased earning potential you can expect over your career. CPAs can climb higher up the ladder (more on that below), and can expect to earn over $1 million more than their non-CPA counterparts over the course of a 40 year career. Can you say “No” to that kind of dough?!
You’re Career Can Reach New Heights
To say that a CPA license will open up more career opportunities for you would be a huge understatement!
Having a CPA license will open doors throughout your career. In fact, it’s often a requirement to move up in the ranks at most companies.
You can still be a highly successful and qualified accountant without having a CPA. However, you may find roles like Senior Accountant, Accounting Manager, Assistant Controller, Controller, etc. to be out of reach.
In public accounting, nearly all of the large and mid-sized firms in the U.S. require you to hold a CPA license in order to reach the rank of Manager (usually 4-5 years into your career) or often even Senior (just 2-3 years into your career).
Fair or not, having your CPA license isn’t just a career booster, it’s the price of admission.
CPAs are Widely Respected
It may seem like professional licenses are popping up all the time these days. However, the CPA license has long been one of the most widely respected professional designations around.
Within the accounting profession, a CPA license is the gold-standard. It signifies that you’re truly serious about your craft and career.
CPAs are usually considered to be the most trusted advisor in the business community, and for good reason. The depth of knowledge, skills, and ethical standards needed to become a CPA are higher than most other professional credentials.
Career Stability and Mobility
Pretty much every business needs accountants, which means that pretty much every business needs a CPA. That built-in job demand in the future means you can work in pretty much any industry imaginable.
You can work at Fortune 500 companies, small tech startups and everything in between. You’ll be qualified to work at public accounting firms big and small, and you can even start your own accounting practice with your own clients. The career possibilities are truly endless.
On top of that, constant improvements to technology and the growth of remote-work, mean that you can truly work from anywhere. Tiny little oceanside villa in Costa Rica? A yurt in the middle of Kansas? Whatever floats your boat, as long as you have good wifi.
With many other professions returning the the office, being a CPA can be your ticket to maximum flexibility.
Becoming a CPA Gives You an Amazing Confidence Boost
This is an often overlooked benefit of becoming a CPA. As difficult as the CPA exam, it’s all worth it in the end. Nothing beats the feeling you get after passing your 4th and final part of the CPA Exam!
I remember anxiously awaiting my final exam score, not knowing whether I’d be spending my next several months celebrating or hunkering back down with my exam materials to take another crack at REG. Finally, after hitting refresh on my browser about 5,000 times on the day scores were being released, I experienced pure joy. The number “83” that popped on my screen had never seemed more beautiful, it meant that my journey was complete. I was finally going to become a CPA!
As amazing as it felt to finally pass the CPA Exam, things have only gotten better since then. Combined some good old fashioned hard work, being a CPA has allowed me to rise quickly through the ranks at each of the public accounting firms I’ve worked at, and I’m now seen as a young leader in my firm’s consulting practice.
Passing the CPA Exam proved to myself that anything is possible if I stick with it, and I truly feel like my career possibilities are endless.
I have no doubt that you’ll feel the same way once you add those three magical letters after your name!
So, What Are You Waiting For?
The most important step you can take toward becoming a CPA is making the commitment and not backing down. With that mentality alone, CPA Exam success can be yours in no time! (Yes, you’ll still need to study for and take the actual exams, but the right mindset and the right CPA review course you’ll be well on your way!)
If you’re already prepping for the exam and just needed a little extra motivation, then I hope this post gives you the boost you need to keep going!
If you’re just starting your journey then you’ll need to equip yourself with a top flight CPA review course that fits your budget and learning style. I’ve independently researched and tested all of the best CPA review courses on the market to save you a bunch of time and hassle, so be sure to check out my other pages to see which course is the right fit for you and best of luck on your CPA Exam journey!
