Why you should get your CPA license

Value of getting your CPA

Why you should get your CPA license

With the boom of small business over the past few years, accountants and bookkeepers have been in high demand.  So much so, that the accounting job market is experiencing a high shortage.  Recruiters and staffing agencies seem to be working around the clock to fill positions with qualified candidates.  There has never been a better time to be an accountant. So, why you should get your CPA license?

As with any rapidly changing market, there are also some correlating statistics that accountants should be aware of. Because the demand for accounting positions has increased, so has the average salary.  While this is great news for highly qualified and experienced accountants, it’s not so advantageous for new or unlicensed candidates. Your CPA license could be worth over $10,000 a year in higher pay, and generally if you want to be a CFO some day, it almost will always be required. Why you should get your CPA license can easily be answered based on this information alone, it is worth it!

Most small businesses have a limited labor budget and tend to spend the majority of said budget on production roles, rather than supporting roles.   Big business is also feeling the pinch as the overwhelming competition of a global market, coupled with an increase in small business ventures has compelled larger companies to cut costs, while spending more on advertising.  This means they have smaller budgets for accounting roles, yet they need creative solutions coming from their accounting departments.

Essentially, companies both big and small need maximum efficiency within their accounting roles and CPAs a the perfect solution.  By hiring one CPA, they can essentially get a CFO, senior accountant, and accounting supervisor all rolled into one if need be.  In addition, with the advent of cost effective online bookkeeping software, companies can hire inexpensive labor with practically no accounting experience to replace traditional bookkeepers and entry level accounting positions.

What does this mean for CPAs?

Well, it actually means a few things.  First of all, having a CPA license increases your job security.  Having a CPA license signifies that you are not just qualified to enter accounting information and run forecasting reports.  A CPA license verifies your qualifications as a financial advisor and planner.  Because maintaining your license requires you to stay abreast of current accounting policies and best practices, a CPA is a highly valuable position within a company and cannot be replaced with software.  A CPA license signifies your ability to create and solve complex and critical financial strategies that will ethically and legally benefit the company.

Another benefit

to obtaining a CPA license is it shows growth within your field and demonstrates your commitment to your chosen profession. A CPA license looks highly favorable to companies looking for a candidate that will join their team long term.

And last but not least,

a CPA license puts you in a smaller pool, which makes you more valuable in terms of salary and title.  This is especially true of companies who are looking to combine several accounting positions into one.  This could mean an automatic promotion based on qualification, rather than actual experience or training.

In short, if you are in the accounting field and have not yet acquired your CPA license, now may be a great time to look into it.

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