As the concept of “9 to 5” continues to evolve, Generation Z is initiating a new career trajectory. One of the paths that is gaining steam is pursuing a CPA designation. In today’s blog, we will explore how this designation is transforming side hustles into six-figure careers, creating exciting future opportunities for these individuals. The reasons for pursuing a CPA designation are numerous; whether it is to gain financial independence, have flexible work hours, or start a successful career, there are many great perks of CPA certification! For a bit of background, a Certified Public Accountant (CPA) is an internationally recognised accounting designation that offers a professional in-demand skill-set that is needed across multiple industries. By having attention to detail and a strong affinity for numbers, Generation Z can use this certification to open doors and develop a six-figure career in no time! In exploring the reasons why CPA certification can have this appeal, we hope it will encourage the next generation of accounting professionals to be strategic about their careers and potentially achieve significant success. Buckle up as we move from side hustles to six figures!
Closing in on Financial Success: The Growing Trend within Generation Z
Generation Z, the most technologically engaged generation, has shown increasing interest in financial stability and independence. An increasing number of digital-first natives are pursuing the CPA designation to help move them towards a secure financial future. For the following reasons:
- Worldwide Recognition: The CPA is a globally recognised certification, affording Generation Z the ability to work anywhere in the world with this designation. The diverse and immersive travel experiences around the globe will appeal to Gen Z.
- Financial Independence: The median salary for CPAs is over $70,000, with information from the U.S. Bureau of Labour Statistics indicating a very promising median earning potential for CPAs. This appeals to Gen Z, as they are known to be eager to reach financial independence as early as possible.
- Changing Business Landscape: The changing world of business is increasingly requiring professionals who can change and grow with it. The CPA certification equips Gen Z with relevant skills to showcase their marketability in the evolving landscape.
- Entrepreneurial Opportunities: Their reputation as self-starters and side hustlers means that Gen Z are always looking to be in control of their career path. The CPA designation is versatile enough to allow them to open their firm, consult, or work in legitimate industries.
- Continuing Education: The value of lifelong learning is something Gen Z reflects and appreciates. The CPA certification process provides this and has exchanges of supportive, continuing education credits toward maintaining certification.
A chart helpfully summarising the benefits of CPA certification for Generation Z might look like the following:
| Benefits of CPA Credential | Why They Are Appealing to Generation Z |
|---|---|
| Worldwide Recognition | Ability to travel and work |
| Financial Independence | High earning potential |
| Transferable Skills | Preparation for business in transition |
| Entrepreneurial Opportunities | Flexibility to choose careers |
| Life-Long Learning | Encouragement of a life-long learning culture |
In conclusion, CPA certification is an excellent opportunity for Generation Z, aligned with their values, dreams, and lifestyle.
Expanding Horizons: Adventures in Certified Public Accounting
In recent years, Certified Public Accounting (CPA) has evolved from a traditional profession into an exciting path of career opportunities. The CPA certification is being seen more as a way to explore a multitude of careers inside and outside of the accounting profession.
One of the best CPA career opportunities is in corporate finance. As a CPA, you can grow into some of the highest-paying jobs, including Chief Financial Officer (CFO) or the Director of Finance; in these roles, you will help manage and grow the profits of businesses.
- Auditing and assurance services: If you prefer the traditional aspects of a CPA career, CPAs can help businesses ensure transparency in their operating procedures and ensure compliance with the accounting standards.
- Forensic Accounting: A CPA can also focus on fraud detection and fraud prevention.
- Business Financial Analysis: Business corporations are always looking to invest and require CPAs to evaluate their investment options and associated risks.
In addition to the above careers, CPA certification opens the door to consulting services where CPAs can advise businesses on various financial and operational needs. Additionally, the rise of Digital Finance and fintech start-ups offers an even wider range of possibilities for CPAs. They can now consider roles such as Financial Systems Analyst or Compliance Officer within these new industries.
In short, obtaining the CPA designation adds to your credibility as a finance professional and opens a breadth of avenues to explore. So whether you’re a recent graduate or an experienced contributor, the career options for CPAs are limitless and can lead to a lucrative, rewarding profession.
Global Opportunity with CPA Designation
In a globalised world, it makes sense for ambitious Gen Z professionals to pursue global CPA recognition. The global CPA recognition is sought after by many, as it not only proves one’s level of competency in accounting but also signifies a global professional opportunity.
Here are some top benefits of obtaining a global CPA recognition:
- International Recognition: With a worldwide recognised qualification, a CPA certificate allows you to compete for jobs on a higher level in the job market. It also means you commit to maintaining the highest level of practice in financial management and accounting, making you a very applicable candidate for multinational businesses.
- Career Development: Global CPA recognition offers career paths that enable you to work in numerous countries. Your qualifications allow you to work in many different roles and professions in finance, audit, taxation and consulting, promoting career development opportunities at a quicker pace.
- Increased Salary: CPA professionals typically earn higher salaries because they possess specialised skills. According to a survey, individuals with CPA credentials typically earn 10-15% more than those without the credential.
- Networking Opportunities: The global CPA community is a fantastic opportunity to network with industry leaders and other professionals around the world. These connections can lead to collaboration and advancement in your career.
To put this in context, the global CPA recognition is an investment in the professional you will be. It develops the skillset to navigate complex financial worlds, hence creating the value of you as an employee. You may be a Gen Z professional looking to start your career or a seasoned accountant looking to land that next big job – a CPA certification will allow you to do things worldwide.
Understanding the Road to CPA Certification: The Important Things You Need to Know to Get Through the Exam
Perhaps one of the most challenging steps to the CPA certification is the infamous CPA exam. In itself, it is an actual test of your accounting ability. But if you prepare strategically, you can minimise the pressure of this task. Here are some practical tips for your CPA exam preparation.
- Understand the Exam: Familiarise yourself with the exam, which consists of four sections: Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR), and Regulation (REG). Each section has a specific structure to the exam – knowing that will help shape your study strategy. You may decide to incorporate study themes for consecutive sections based on similarities, for example, the BEC and REG focus on professional responsibilities.
- Make a Study Plan: Fortunately, a good study plan to break down your CPA certification study material into manageable content is a huge advantage. As you map out your preparation for each section of the CPA exam, make sure to include timetables that provide for your rewrites and revisions, breaks, and rest to prevent burnout.
- Practice Questions: There is no question too small or insignificant to use to enhance your understanding. Doing past questions is a great way to see the types of questions that you will be asked on the CPA exam, as well as to find out what you may need to study more on.
- Study Groups: Consider forming a study group with others looking to obtain their CPA. It can be very helpful to discuss complex concepts, find relevant information sources, and gather other perspectives on financial accounting topics.
- Keep informed: The accounting landscape is constantly changing, and for you to become a CPA, you need to stay informed of changes in laws, regulations, and standards.
It will take time to get your CPA certification, and it is a marathon, not a sprint, so taking a steady and measured approach to your preparation is essential. Your work and planning will be worthwhile when you can call yourself a CPA.
Realising Potential: The Benefits of CPA Certification for the 21st-Century Corporate Ladder Climbers.
In a world of heightened competition, today’s young professionals are continuously exploring ways to climb the corporate ladder faster. For finance professionals, a CPA (Certified Public Accountant) is a reliable, gold-stamped passport. And besides being globally recognised, CPA certification offers other benefits:
- Career Cheer: Acquiring a CPA certification is the perfect way to speed up your career progression. Your certification demonstrates your commitment, knowledge, and skill. Thus, your resume will become a magnet for prospective employers when your CPA is listed in the credentials section.
- Higher Earnings: The Association of International Certified Professional Accountants found that a CPA makes 10-15% MORE than someone who is not a CPA. So, not only is a CPA a strong credential to have, it can also help fatten your wallet!
- Different Career Paths: As a CPA, you are not just limited to auditing or public accounting. You can explore consulting, forensic accounting, tax, and even corporate finance.
- Worldwide Credential: A CPA is a credential that is recognised globally. This means that if a job in the international market is your goal, certification will help you achieve it.
As a younger professional, a CPA can be a significant boost to your career objectives. A CPA not only give you a strong skill set, but it also differentiates you from everyone else in the job market. Beyond that, it provides you with a competitive edge. As you embark on your journey, please remember that the benefits of certification extend far beyond monetary gain. I encourage you to think of yourself beyond gain, empowerment, differentiation and a pathway to a prosperous future in finance.
In finance and accounting, you may be looking for ways to maximise your career opportunities. The Imarticus Learning CPA Certification course can be your starting point to achieving this goal. This course is thoughtfully designed to help you stay ahead of the curve concerning the industry and develop skills that will enhance your career. The CPA Certification complements the topics we address in our blog, adding a dimension in which you are more familiar with the principles of international finance and accounting. Not only do you have an internationally recognised credential through a CPA certification, but you also have countless job opportunities in the financial industry. The knowledge and skills from this course can be beneficial, as they give you an advantage over your colleagues and allow for career advancement in the corporate world. Enrol today and start a rewarding career in finance.