Certified Public Accountant Salary

Certified public accountants (CPAs) generally earn an average annual salary of around $100,000. To become licensed, CPAs must pass a demanding exam, demonstrating their mastery of complex technical accounting concepts.

Employers typically pay more for those with a CPA license and skillset. In fact, a CPA license can boost an accountant's lifetime earning potential by as much as $1 million, according to the Association of International Certified Professional Accountants

Yet, CPA salaries can vary significantly. How much CPAs make depends on factors like their education, experience, location, and industry. Explore certified public accountant salary trends and job prospects in this guide.

How Much Do CPAs Make?

While earning your CPA license is challenging, it can also benefit your career. The average certified public accountant's salary was nearly six figures in August 2024, according to Payscale. Additional compensation like performance bonuses and employee stock options can increase your earnings.

Your CPA income potential also grows with experience. As your CPA career progresses, you will likely gain insights and knowledge that enhance your capabilities. Employers tend to reward that increased knowledge and experience with higher pay.

Education, location, and employment industry can also impact your earning potential. Read on to explore these factors, and their effects on CPA income, in detail.

CPA Salary by Education

While degree level may have less impact on accountants' salaries, CPA certification does add significant earning potential. To earn a certified public accountant's salary, you need to pass the CPA exam.

In September 2019, the CPA Journal performed a detailed study to determine how education level affects CPA exam pass rates. Analyzing four years of CPA exam data, the authors found that examinees with master's degrees had a pass rate of nearly 10 percentage points higher than test-takers with only a bachelor's degree.

Payscale data shows that a CPA credential is one of the most valuable qualifications for accountants. On average, CPAs even out-earn professionals who hold MBA degrees with an accounting concentration.

CPA Salary by Experience

As in many other fields, CPA salaries tend to increase with experience. Many employers also offer performance-based compensation, including bonuses and employee stock options.

The following table illustrates CPA salary data at various career stages. Note the strong, consistent pay increases that accompany experience.

CPA Salary by Location

Location can significantly impact a certified public accountant's salary. Many employers index their pay rates to local living costs through cost of living adjustments or COLAs.

CPAs who live and work in less expensive areas may earn lower salaries, while those who live in costlier areas typically receive COLAs. While COLAs result in higher earnings, they do not necessarily lead to a better financial standing overall since the additional pay helps cover the higher living costs.

Local labor market demand for CPAs can also impact salaries. Employers tend to offer higher salaries in areas with fewer qualified CPAs. The opposite may happen in situations where employers have large pools of capable candidates available.

The following tables profile top-paying areas for accountants in the United States. Note that the Bureau of Labor Statistics (BLS) uses a single grouping for all accountants and auditors, so the data is not specific to CPAs.

CPA Job Outlook

The BLS projects a slightly higher than the average growth rate for accounting and auditing occupations from 2023-2033.

The 6% growth rate equates to 91,400 new accounting and auditing jobs from 2023-2033. The agency projects 130,500 average annual openings during that time frame. Job openings occur when new jobs are created, and existing accountants retire or exit the profession.

Notably, the BLS also emphasizes the growing importance expertise will play in the accounting job landscape. Technological advancement and change have increasingly automated many simple accounting duties once performed exclusively by human workers. Artificial intelligence appears poised to accelerate this change.

Given these factors, the accounting labor market continues to shift in favor of highly educated, well-trained, and experienced accountants — like CPAs. Currently, these professionals can perform complex, technical, and analytical duties beyond automated capabilities.

Where Should You Work as a CPA?

Job growth rates for accountants vary among cities, states, and regions. Some areas are projected to see much higher growth rates than in others.

The following tables breakdown the top locations for accountants and auditors in terms of the states that employ the most accountants, have the highest demand, and offer the highest salaries.

Best Industries

The employment industry can also affect a certified public accountant's salary. Some industries pay average salaries that far exceed national averages for accountants and auditors.

Some industries have a stronger need than others for accountants and auditors in general, and CPAs specifically. The second table highlights top-employing industries for accountants and auditors by overall job numbers.

Questions About CPA Income