Have you ever thought about US CPA career opportunities? What comes once you acquire a CPA certification? Lets discuss these later, and first understand the CPA.
CPA USA is a high-level professional certification program that can give you immense opportunities in the field of finance and accounting. And there is no doubt about it that the pay scale will also be good. It is true that US CPA, as a career path, requires an individuals commitment, effort, and hard work. In the end, everything is worth it.
There are a lot of lucrative job opportunities provided to the CPA-certified professional. If a candidate wants to become a CPA, he/she must keep several things in mind.
A US CPA is a professional who is considered having expertise in the field of accounting. A CPA has to fulfil a lot of roles and responsibilities while working in different companies. The major role of a CPA is that he/ she prepares financial statements, budget plans, gives advice on financial matters, etc.
To become a US CPA, a candidate has to fulfil some eligibility requirements. The candidate must adhere to three things-
- Candidates must have a bachelors degree or equivalent certification/ diploma.
- The candidates must have at least two years of work experience under a senior CPA or in a relevant field.
- Every candidate must fulfill the requirement of a 150 credit score (Continuous Professional Education) before applying for the exam.
Upon the completion of these three requirements, the candidates can take the CPA USA exam. The CPA USA exam is tough and rigorous, with a pass rate of 50%. But once a candidate clears the exam, a number of CPA career opportunities are provided to the candidates. If you want to crack the CPA exam in one go, NorthStar Academy is the right place to go. We are the top training institute offering the comprehensive CPA USA certification course. Our top mentor, M Irfat Sir will guide you throughout your journey.
As far as the CPA USA exam is considered, it is essential to note that there are four divisions/parts of the exam. Each division is for four hours. Thus, the CPA USA exam is of sixteen hours in total. The four exams are Auditing & Attestation (AUD), Financial Accounting & Reporting (FAR), Business Environment & Concepts (BEC), and Regulation (REG).
Out of these four exam parts, FAR is considered the most challenging. Candidates are advised to give extra time to this section as the MCQs, Task-based simulations, and comprehensive parts are going to be difficult. Pay attention to the keen details in this section.
The easiest section of the exam is considered the Business Environment & Concepts (BEC). The syllabus can be easily covered and passed by the candidates. So, there is no need to worry about this section at all.
Now, coming back to the CPA career opportunities, you might be confused about what are the job positions and roles that one can work in after acquiring a CPA USA certificate?
There are various levels of posts that one can work in with this globally recognized certification. You can find different job roles in top MNCs in India, the USA, Canada, and all across the world. So, let us discuss these job options in detail.
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CPA Jobs in India
You can find CPA career opportunities in the government and private sector in India. In the government sectors, CPAs can apply for posts like financial advisors, creating budget plans, etc. More than in the private sector, CPAs can easily get a job in the government sector.
Let us look at where the CPAs can apply in government sectors.
1.Public Sector Banks
Experienced CPAs can apply to government and semi-government sectors like the public sector banks. There are numerous CPA career opportunities in India, like in the State Bank of India, Central Bank, PNB, etc. The CPA job roles include Financial analysts, branch managers, Loans head, Auditors, etc. CPAs can excel and grow in these sectors in the private sector as well.
2.National Rural Health Mission
CPAs can apply to NRHM in various positions. In the National Rural Health Mission, the CPAs can work in different posts ensuring quality healthcare for the rural population. To gain jobs in NRHM, the candidates will be interviewed on the basis of their qualities. Questions asked in the interview/ technical round are based on the position one is applying for.
3.GAIL Limited
GAIL is one of the well-reputed gas processing companies in India. Professionals also have the avenues for CPA career opportunities in this company as well. Candidates are advised to visit the official website on a regular basis to check for vacancies.
4.LIC
Life Insurance Corporation of India is another prestigious Indian company that a CPA can apply to. The structure of the company is diversified, wherein the CPAs can work in finance departments. The selection for the recruitment of the CPAs is done based on online tests.
So, these are the top sectors in which a CPA can work and secure his/ her future. Let us look at some more CPA career opportunities.
CPA Jobs in the USA
CPA career opportunities are also available in the US as well. So, let us have a look at where CPAs can apply!
1.Public Accounting Roles
CPAs in public accounting firms perform various roles like auditing, tax, consulting services, etc. From entry-level auditors to senior roles, a CPA can work with large companies. According to the AICPA(American Institute of Certified Professional Accountants), a CPA can become a Budget Analyst, Tax Examiner, System Analyst, etc.
2.Staff Accountant
The role of a staff accountant is to complete journal entries, maintain the financial records, perform account reconciliation, and assist the closing procedures so that the company functions fully. The Staff accountant plays a supportive role that maintains the financial position of the company by taking proactive measures.
3.Tax Manager
As a tax manager, a CPA reviews and prepares the tax returns of the company. The estimated taxes and extensions are also created by the tax manager. He/ she also undertakes bookkeeping services like ledger posting, preparing financial accounts, etc.
4.Tax Associate
As a CPA, if you are looking for a dynamic career, then you can work as a tax associate. As a tax associate, your technical and relationship skills will enhance with time. CPA delivers tax and consulting services to clients in this role. The wealth management needs are also addressed by the tax associate.
5.Financial Controller
A finance controller manages, supervises, and advises the companies. CPA as Finance Controller ensures compliance with local, federal, and state laws. They manage, prepare, and maintain the companys costs and budget plans. A finance controller is also responsible for the production and distribution of management reports as well.
These are the top CPA jobs in the US. The CPA career opportunities are numerous. But the pay scale in these is quite high. So, candidates can apply for these posts. Now, let us look at the US CPA jobs in Canada.
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US CPA Jobs Salary and Factors Affecting It
Amid the CPA career opportunities, one must not forget that there are several CPA posts that offer a high salary. So, here is the information for the same.
The average US CPA salary in the US is around $71, 550. The candidates holding the CPA certification make 50% - 60% more than compared to a non-CPA. Now, there are several factors that affect the salary of a US CPA. Here they are:
1.Experience
The experience of a CPA USA is directly in relation to the US CPA's salary. It is recommended to gain experience by working in internships in different companies. The entry-level US CPA earns around $64,000. But this figure fluctuates and ranges from $44,000 to $84,000.
2.Industry
A CPA can get into public accounting or private accounting in the industry. Both Public and Private sector accountants are well-compensated. Public accountants tend to make more income compared to private CPAs. The salary of a government CPA is $57,750. On the other hand, the salary of a private CPA is $57,250. There are four types of industries and US CPA can apply in, i.e., Big 4, Regional firms, Local firms, and International Firms.
3.Size of the Company
The size of the industry affects the earnings of a US CPA. Large firms pay more to a CPA as compared to medium or small-scale firms. The larger the company, the higher the pay for a CPA. Applying to the Big 4 companies can generate higher salaries as compared to other companies.
4.Location
The location also determines how much a CPA earns. For instance, if you are working in the US or any other firm internationally, then your pay grade will be more. The cost of living is higher in foreign states. Thus, this results in CPAs earning higher. Location isnt a primary thing, but it affects the salary of a CPA, maybe a bit!
So, these are the factors that affect the salary of a US CPA not only in the US but in India as well. Now if we talk about the CPA jobs in India's salary, then a CPA earns Rs 9 lakhs to Rs 20 lakhs. This amount varies with the experience one has gained over the years along with the above factors.
