There are a lot of benefits to being a CPA which get talked about a lot (more money, etc.). But I think the most important benefits are the ones that are generally glossed over. They’re the ones that are broader, typically longer term and, thus, more meaningful as they tend to have the greatest impact on your life.
You Can be the Boss
Unlike many other fields, in accounting you have to have a certain credential to open your own business. So, having your CPA gives you an option and a power not everyone has. If you see a hole or a niche to be filled in the market, and you know your skills can take advantage of it, you can take control of your future and go for it.
Do you have a city in your mind that you would love to live? Maybe it’s Boulder, CO because you enjoy the outdoors so much. Well, if you’re an advertising account executive whose passion is skiing, you’re out of luck due to the dearth of ad agencies in the state. This isn’t a problem if you’re a CPA because the need for your credentials and expertise is ubiquitous. You can find a rewarding job just about anywhere.
We already know that your CPA can take you into areas such as government or academia. But what isn’t as well known is the range of disciplines that your CPA can lead you to. You can work in law enforcement as a forensic account for the FBI. As a CPA you can also obtain a CITP (certified information technology professional) and work in areas such as IT risk and assurance or data analytics. But the greatest benefit is that the financial acumen you acquire can springboard you into different careers. You can become an investment banker. You can use your skills to be a financial consultant.. And,, as accounting has become more and more vital, accountants have been rising up to the C level – and not just as CFOs but CEOs as well. People tend to see accountants as anonymous cogs in the machine.
So, when deciding whether or not it’s worth getting your CPA, you need to take these things into consideration when calculating its value.