Becoming a CPA involves more than just earning an accounting degree, but earning the degree is the first of several steps. Here is all the information you need on how to become a CPA as well as what to expect in terms of job growth and salary expectations.

Education and Training Required

Becoming a CPA requires first earning at least a bachelor’s degree in accounting. Accountants who plan to file reports with the Security and Exchange Commission (SEC) must become CPAs. In almost all the states, CPAs are required to complete 150 semester hours of college courses in order to be licensed, and licensure is required to work as a CPA.

Because bachelor’s degree programs are typically only 120-credit programs, the individual must complete an additional 30 hours beyond the bachelor’s degree. Since the bachelor’s degree program takes four years and the additional 30 another one to two years, it will take at approximately six years just to earn the required credits.

Some schools offer a 5-year bachelor’s and master’s degree combination program that meets the 150-credit requirement. If a student is enrolled in an online accounting program, it can take even longer. It’s important to remember the CPA requirements vary from state to state, so candidate should check with their state’s licensing boards so they’re sure of what they need to do.

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Certification

In addition to earning the credits, aspiring CPAs must also pass the Uniform CPA Examination, which is a four-part exam administered by the American Institute of Certified Public Accountants (AICPA). All four parts don’t have to be completed at once, but they must all be passed within 18 months after the first exam was taken. Licensure and exam requirements vary from state to state.

Some states require the candidate have one or two years’ experience working in the field of accounting before the CPA exam can be taken. Keeping in mind the five years for the combo program plus the two years’ experience (in some states), and it could take at least seven years for that individual to become a CPA. CPAs must complete continuing education courses to maintain certification.

The AICPA also offers other certifications to CPAs who pass the required exams and meet other eligibility requirements. These credentials include the following.

• Certified Information Technology Professional

• Accredited in Business Valuation

• Personal Financial Specialist

Career Outlook & Wage Potential

The U.S. Bureau of Labor Statistics (BLS) predicts that accountants should see an employment growth of ten percent between 2016 and 2026. The growing economy will continue to put accountants in high demand.

Those that are CPAs have the advantage of more training and more job opportunities. As of May 2016, accountants earned an average annual wage of $77,920 according to the bureau. Payscale reports that CPAs earned wages from $40,000 to $100,000 or more as of April 2015 with the average wage at $63,424.

CPAs who have obtained sufficient work experience have the knowledge and skill to become financial managers or top executives, both of which can mean higher wages and better job security. Becoming a CPA may take a lot of education and work, but many feel the benefits make it worth the time and effort.