CPA licensure affords professionals the credentials they need to provide accounting services in a wide variety of industries. Accountants perform financial calculations for companies in a wide variety of fields. Some common duties include creating sales and cash flow reports, administering payroll, keeping balance sheets, carrying out billing activities, managing budgets and keeping inventory. The accountant may also be responsible for filing taxes for the company, as well as reviewing past reports to generate income forecasts. Regardless of the industry, companies need skilled accountants to help run their business in adherence to local financial laws and regulations. Rural areas offer less opportunities for CPAs than major cities.
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The demand for CPAs continues to grow along with the economy and the need to maintain financial records. This page takes an in-depth look at job prospects and earning potential for CPAs based on education, location, and experience level. However, earning a CPA license can help prospective accountants pursue CPA positions, boost competition in the job market, and open doors to more opportunities. A large number of accounting professionals also serve in management roles for companies and enterprises, making that industry the second highest employing area for accountants.
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Accounting.com is committed to delivering content that is objective and actionable. To that end, we have built a network of industry professionals across higher education to review our content and ensure we are providing the most helpful information to our readers. part time accounting The states below feature dense populations and large, urban centers, which may contribute to an increased demand for accountants and CPAs. Featured or trusted partner programs and all school search, finder, or match results are for schools that compensate us.
- CPAs and general accountants will find that nearly every state offers job opportunity and growth.
- Rural areas offer less opportunities for CPAs than major cities.
- Offers the highest average salary for accounting professionals at $110,140.
- Accounting, tax preparation, bookkeeping and payroll services employ the largest number of accounting professionals, offering an average salary of $85,050 in 2020.
However some of the nonmetropolitan areas with the highest employment rates for accountants include Kansas, northeastern and northwestern Ohio, and northern Texas. Early career (one to four years in the field) CPAs earn an average of $60,000 per year. In contrast, late career (more than 20 years experience) CPAs earn an average of $98,000 per year—a stark increase. However, this career provides an upward earning trend for professionals who stay in the field and gain more experience, making now a great time to get started in the industry.
What state pays Accounting Associates the most?
Certain states may also see a higher demand or faster job growth for CPAs. Geographic location also impacts earning potential for CPAs and accountants. Some states may offer higher average salaries due to factors like increased demand, larger https://www.bookstime.com/ population, and higher costs of living. Completing a master’s degree may also increase your earning potential compared to just a bachelor’s. The table below breaks down the average salary for accountants with different education levels.
According to BLS data, Texas offers some of the highest employment rates and one of the highest average salaries for accounting professionals. However, prospective accountants should consider other factors like quality of life and cost of living. Texas features a high number of accountants employed, a generous average salary, and a high rate of projected job growth. The Dallas-Fort Worth-Arlington metro area employs over 37,000 accountants with an average salary of $83,850, significantly higher than the average wage for all positions in that area.
Does having a CPA guarantee a job?
Urban centers and cities with higher populations typically offer more job opportunities for accountants in response to higher demand from businesses seeking CPA services. The tables in the following sections map out the best areas for prospective CPAs to look for jobs based on average salary, the number of jobs available, and projected job growth. The BLS highlights the five top-paying states for accountants and auditors. Offers the highest average salary for accounting professionals at $110,140. California rounds out the top five with an average accountant salary of $88,130.
- Early career (one to four years in the field) CPAs earn an average of $60,000 per year.
- Integrity Network members typically work full time in their industry profession and review content for Accounting.com as a side project.
- CPA licensure affords professionals the credentials they need to provide accounting services in a wide variety of industries.
- The table below breaks down the average salary for accountants with different education levels.