With the growth of global economy and establishment of a lot of multinational companies and outsourcing work in India, the demand for CPA has increased considerably. This is because US companies connect with CPA easily than the Indian CA’s not because of knowledge but because of the credibility. All the multinational companies, as well as Big 4, want to hire CPA compared to CA just to make sure that they can bring in uniformity in accounting practice and presentation. A lot of companies needs to publish their financial statements according to US GAAP for SEC reporting, so they need a professional who has in-depth knowledge of US GAAP & IFRS. Some companies even have to prepare their financial statements first in Indian GAAP and then convert it into US GAAP or IFRS and it can achieve with the help of CPA who is well aware with SEC reporting and US GAAP &IFRS reporting framework. CA candidate lack this knowledge and that’s the serve as the basis for the selection and rejection of the prospective candidate.
The market research shows that lot of CAs after finishing their CA exams enrolls for CPA certification and this shift has occurred in Indian job market as well as the students because of the growing opportunities in the multinational companies and Big 4s like Deloitte, PWC, EY, and KPMG etc.
Take a look at the average salaries for college graduates in public and private accounting. Keep in mind if you also have a CPA license, you’ll make 10-15% more when you start out.
|Employer||Jr. Level (0 – 3 yrs.)||Sr. Level (4 – 6 yrs.)|
|Public Accounting (large firm)||$63,250-$83,250||$78,500-$106,500|
|Public Accounting (medium firm)||$56,500-$67,750||$70,500-$96,000|
|Public Accounting (small firm)||$51,500-$60,500||$63,750-$81,500|
|Corporate Accounting (large co.)||$53,750-$69,500||$68,750-$87,750|
|Corporate Accounting (medium co.)||$49,250-$65,250||$61,250-$79,750|
|Corporate Accounting (small co.)||$45,000-$59,000||$57,500-$70,000|
Serious earning potential over time gives CPAs great job security. Here are some examples of upper-level salaries for managers in corporate accounting:
|Position||Large Co.||Small to Medium Co.|
|Chief Financial Officer||$207,000-$465,750||$105,250-$208,750|