How Much Does a CPA Make?

Working with numbers may seem dry and uninteresting, but Certified Public Accountants (CPAs) use math to solve problems that are both engaging and anything but dry. Money is important to almost everyone who has an income from earnings or investments. Everyone who pays taxes or owns a business needs a CPA at some point to resolve or plan for financial matters. Salaries for CPAs range from less than $50,000 to $100,000 or more.

Choosing a Unique Field in Forensics

Forensic CPAs work in areas where greed or other misbehavior leads people to make financial transactions that are illegal. Proving fraud requires studying transfers of funds that are improper, and lawyers are usually members of investigating teams. CPAs may advise corporations to adopt an auditing system that ensures the reliable transfer of funds. Salaries for forensic CPAs are in the $60,000 range, according to the Bureau of Labor Statistics.

Helping Clients Avoid Tax Problems

A traditional career as an income tax accountant involves preparing state and federal returns for individuals or businesses. An accountant may advance in responsibility as a CPA in a corporation or as an individual consultant. The Generally Accepted Accounting Principles (GAAP) provide guidelines recommended by the Federal Accounting Standards Advisory Board. The BLS reports that the median salary for tax accountants is $60,000, with the lowest 10 percent earning $38,000 and the upper 10 percent bringing in $104,000.

Tracking Financial Transactions as an Auditor

Discrepancies in financial statements may indicate fraud to a CPA who works as an auditor for a large corporation or as a consultant. The median pay range of an auditor is $60,000, but larger salaries are earned by CPAs who have responsibilities in multinational corporations where travel and knowledge of other languages is required. By examining financial reports, a CPA finds inaccuracies that may affect the fiscal position of a person or a corporation.

Helping Clients with Financial Planning

People in all financial levels need help with planning for the future. CPAs need interpersonal skills to make clients feel comfortable in discussing money and plans for the end of life. Helping clients make financial decisions based on current and future needs is a rewarding experience for CPAs who can handle delicate matters in a professional manner. Salaries are in the $65,000 range, but higher amounts are available for CPAs who add professional certifications.

A financial manager’s salary may vary by the choice of employer, including financial institutions and multinational corporations as well as individuals in all income levels. Cash management is crucial to the financial health of each client, and risk management is a significant consideration when investments are involved. At the top of the financial management ladder is a Chief Financial Officer, and the BLS reports that the mid range salary for a CPA in that position is $103,000.

The work environment of a CPA is usually pleasant and productive. Using math to accomplish a function that helps businesses and people is a good choice for a career. Taking into consideration the challenging nature of the work and the salaries that are available for CPAs, a person with math and interpersonal skills can find a career path in accounting.

You might also be interested in: What is a Typical Day Like for a CPA?

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