Yes, having a Certified Public Accountant (CPA) license is highly impressive and considered the "gold standard" in accounting. It signals high-level technical expertise, ethical standards, and dedication. Key benefits include 10–15% higher salary potential, increased job security, and eligibility for senior roles like CFO.
Becoming certified is a lot like getting a law license. It's proof that you've mastered the vital elements of your profession through years of academic and technical training. As a CPA, you'll also have access to jobs with higher authority and responsibility — and you'll enjoy greater career stability.
At a minimum a CPA is middle class with a pathway to upper middle class.
The CPA is absolutely worth it if you plan to work in public accounting, audit, tax or corporate finance roles where credibility, career growth and regulatory responsibility matter. The license adds long-term value, it's respected across industries and even internationally recognized in some cases.
Key Takeaways
Lawyers typically earn more than accountants, especially right out of school. Both professions offer opportunities in public and private sectors. Becoming a CPA involves specialized study and a state exam, but it's not always required.
About half of the individuals who take the CPA Exam don't pass on their first attempt. According to the AICPA, the national average pass rate is 45-55%. Cumulative pass rates reported by the AICPA for the calendar year 2021 show that FAR had the lowest pass rate at 44.54% and BEC had the highest pass rate at 61.94%.
With the right amount of experience, being a certified public accountant can mean an eventual position as a chief financial officer (CFO) or a highly paid tax accountant. A CPA's salary usually reaches the high five figures, while senior CPAs in management can earn a six-figure salary.
CPAs command higher salaries than Master's in Accounting professionals. Furthermore, CPAs with specialized skills and knowledge in areas like taxation, auditing, or forensic accounting can expect to earn a higher salary than those without such expertise.
The Top 10 Cons of Being an Accountant
Accountants are one of the least happy careers in the United States. At CareerExplorer, we conduct an ongoing survey with millions of people and ask them how satisfied they are with their careers. As it turns out, accountants rate their career happiness 2.6 out of 5 stars which puts them in the bottom 6% of careers.
The CPA credential remains a cornerstone of the profession, but new data indicate its prominence is steadily declining. Between 2020 and 2024, the average percentage of staff holding CPA licenses across all firms dropped from 56.0 percent to 48.4 percent.
Comparison between CA and CPA
It is difficult to determine which of these professions offers a higher salary, as the salary of a CA or CPA can vary greatly based on several factors. However, in general, CAs tend to earn slightly more than CPAs in India.
According to the CPA Journal, the average age of a U.S.-based CPA hovers around 52 to 53 years old. In a profession where many accounting firms enforce a retirement age of 65 or 66, a significant cohort of CPAs is poised to retire within the next decade or two.
Making $500,000 a year is quite rare, placing you in roughly the top 1% (or slightly below, depending on data) of U.S. earners, with estimates suggesting only about 0.8% to 1% of individuals or households achieve this income, though government data can obscure this; it's a significant financial milestone, yet surprisingly, many high earners still feel financially stretched due to lifestyle inflation and high costs.
To be in the top 1% of US earners, you generally need an income well over $700,000 nationally, with figures around $794,000 cited for recent years, but this varies significantly by state, requiring over $1 million in places like Connecticut and Massachusetts, while being around $400,000-$450,000 in lower-cost states like West Virginia and Mississippi.
Calculating your CPA Exam score
Scores are reported on a scale that ranges from 0 to 99. It's important to know that your total reported score does not represent a percentage correct, nor can you interpret it as such. Scores are not curved.