Updated: Apr 20, 2021
So you may be wondering what sort of jobs are out there and what career you should pursue? You may have heard bits and pieces of the benefits of becoming a CPA, but let me summarize in a nutshell the real reasons why you should consider becoming one:
1) There will always be a demand for CPAs since every business out there needs an accountant. As a CPA, your skills will be needed in any business setting and you will be trained to meet the needs of the Canadian as well as International markets.
2) Having a CPA designation has proved to provide decent compensation. Per CPA Canada:
According to the CPA Profession Compensation Survey, the mean average compensation of Canada’s professional accountants in all working sectors, age ranges and regions in the country was $141,000. CPAs employed in industry topped the compensation list with an average of $163,000, followed by professional services at $142,000. CPAs in mining, and oil and gas led most sectors with mean averages of $194,000 and $203,000, respectively.
Diversity in the work & people you meet
1) A CPA is not limited to any specific industry or role. So you have the ability to work in any field or industry that may interest you, whether that is technology, banking, real estate, mining, etc.
2) This is more specific to public practice, but you will have the opportunity to meet diverse people across different industries as well as the opportunity to meet high ranking seniors (ie. CEO, CFO, Controllers, VP of Finance, etc) at companies early on in your career.
3) This is also more specific to public practice, but if you value flexibility or require it because you have other commitments like family - having flexible hours can be a necessity. You can take an hour or two to go to that dentist appointment or pick up your kids. Nobody is really looking over your shoulder making sure you are there 9-5. Rather, the focus in on results and whether you are getting your work done per expectations.
Opportunities and advancement
1) The skills you learn as a CPA are transferrable and recognized around the world, and one of the main benefits are the opportunities to work in other parts of the world. I can take my own experience as an example of being able to work in Korea (though, having a Big 4 connection definitely made it easier).
2) There are endless opportunities with a CPA, including the ability to move up in any organization as a controller, CFO, VP of Finance, and even the CEO. The accounting and finance of any company is a crucial component of any business - so it makes sense that a CPA has the skills and the ability to move up in any organization.
3) Having a CPA designation will make you sought after in any job market. If you add your experience at a Big 4 (or any public practice firm), you are irresistible in the accounting/finance job market, as someone who had exclusive accounting experience working on various client profiles. As a Tax Manager at a Big 4, I'm constantly being contacted by recruiters!
Refer to other resources, like the one that I'm linking below!