Last updated on July 25th, 2024 at 02:41 pm
A CPA is one of the most prominent careers in the field of accounting. To qualify as a CPA, you need to clear the test held by the American Institute of Certified Public Accountants (AICPA), which is also the largest accounting organisation in the world.
With a CPA licence not only can you earn a high salary, but also stand out amongst the best in the field. Let us learn more about CPA and the CPA salary in India.
What is CPA?
A Certified Public Accountant is someone who has obtained their CPA licence after clearing one of the 55 state accountancy boards in the United States, mainly those that are members of the NASBA (National Association of the State Boards of Accountancy).
Each state board has the jurisdiction to provide CPA certifications and licences. Therefore, candidates should examine their respective CPA qualifying requirements. Clearing a CPA exam opens up a variety of finance-related professional prospects.
Accounting professionals have an increased level of flexibility and mobility in their careers since a CPA is more of a professional qualification than a job title or career path. CPAs normally hold only one state licence; however, due to reciprocity rules, they can also obtain licences in other jurisdictions.
There is a high demand for CPAs throughout the economy thanks to their industry knowledge, credentials, and dependability with massive CPA career opportunities there for the taking.
Job Roles in India as a US CPA
Account Executive
As an account executive, managing the organisation's cash flow daily is one of your main tasks. This means initiating payment requests, tracking transactions, monitoring expenses, and reporting to management for financial analysis.
Financial Analyst
A financial analyst closely examines a company’s financial statements, helps make investment decisions, and creates models predicting future performance.
They also consider factors like macroeconomic trends and company goals. Financial analysts work closely with the accounts department to assess the value of any investment.
Finance Manager
One of the more popular CPA career opportunities comes in the form of a finance manager. Financial managers handle the company's finances. They create reports, manage investments, and develop plans to achieve the organisation's long-term financial goals.
Senior Account Manager
A CPA course opens up the path to a Senior Accounting Manager, who handles a variety of accounting tasks to ensure everything complies with generally accepted accounting principles, business regulations, and external audits.
Range of CPA Salary in India
The average CPA salary in India ranges from high six figures to even seven or eight figures, with senior CPAs in management earning even more.
Therefore, if you’re an entry-level accountant hoping for a higher compensation and more responsibilities, or a fresher with a degree in accounting or finance, you should definitely think about earning a Certified Public Accountant degree for better CPA career opportunities.
If you work as an accountant, you should know that becoming a CPA would not only improve your reputation but also earn you greater pay in India as you gain experience. Many profitable businesses are accessible to those who hold a CPA licence.
Understanding the potential benefits before pursuing a CPA licence is crucial since becoming a CPA requires a significant amount of time, energy, and money, as well as a commitment to continuous education.
There are also various CPA career opportunities in various sectors such as the federal government, public and commercial sectors, as well as in tax preparations, forensic accounting, bookkeeping, information technology, and auditing.
With the right amount of experience, a CPA course can help you cement a role as a CFO (Chief Financial Officer) or a highly-paid tax accountant and pave the way for a high CPA salary in India.
Factors Influencing US CPA Salary in India
Once you’ve completed your CPA course and are in the market for a job, you should remember that the CPA salary in India depends on various factors that make these jobs attractive with some of them being:
Location
Since there are more large companies and multinational corporations (MNCs) in urban locations like Bangalore, Mumbai, Hyderabad, and Delhi, salaries in these regions are generally higher and occasionally higher than the average CPA salary in India elsewhere.
For example, a US CPA working in a city like Bangalore or Mumbai might make between 10-20% more than they would make elsewhere.
Company Size and Type
Pay is typically higher at larger foreign companies than at smaller domestic ones. US CPAs employed by Big 4 accounting firms or major multinational corporations (MNCs) earn high salaries.
Skill Set and Specialisation
If you’re someone with an expertise in certain sectors such as accounting, auditing, or risk management, you can earn higher salaries compared to the average salary of CPA in India.
For example, a CPA who specialises in international taxation will definitely earn more than a generalist.
Industry
The CPA salary in India also depends on factors such as the industries where you can work, such as consulting, information technology, or financial services.
For example, you can earn a massive salary as you gain experience in your preferred sector like financial consulting compared to a salary for experienced individuals in a sector like information technology.
Experience Level
Experience is another important factor that affects CPA salary in India. For example, a US CPA fresher earns somewhere between INR 6-7 LPA, but as you gain let’s say 5-10 years worth of experience, you can easily earn double the amount you made as a fresher.
Average Salary Ranges Depending on Experience
The average salary for a CPA, depending on experience, is as follows:
Entry-Level
According to Payscale, the average CPA salary in India for an entry-level CPA is approximately INR 6.8 LPA.
Mid-Level
As per Payscale, the average mid-level CPA salary in India with experience between 5-10 years is around INR 11.8 LPA. This growth represents your rising expertise and responsibilities.
Senior-Level
As an experienced US CPA with 10-19 years under your belt you can earn an average salary of INR 24.5 LPA. In some cases, you can earn more than 30 LPA in roles such as Chief Financial Officers or as a partner in a large firm.
Career Progression for US CPAs in India
US CPAs can expand their careers in India through various factors, such as:
Diverse career paths: US CPAs have many career options, from traditional roles in accounting and auditing to dynamic positions in financial consulting and corporate strategy.
Leadership opportunities: With experience, US CPAs often move into senior management roles like CFOs and finance directors, where they shape their organisation’s financial strategy.
Continual learning: Holding a CPA credential encourages ongoing professional development, keeping professionals current with the latest trends and best practices in global finance and accounting.
If you’re a CPA aspirant, check out this comprehensive guide to learn more about CPA in India.
Conclusion
As you’ve learned by now, CPAs are in high demand not only in India but globally. With a CPA licence you earn the chance to be coveted by various companies in multiple sectors including finance and IT.
With a CPA licence, you are likely to earn a high CPA salary in India, but you need to be patient, as experience is an important factor in salary growth.
So what are you waiting for? Enrol in Imarticus Learning’s Certified Public Accountant course today to grow your career in the CPA field and boost your chances of pursuing CPA career opportunities according to your preference, be it in information technology or finance!
FAQs
- How hard is it to be a CPA in India?
The CPA exam is tough. However, you can succeed with perseverance and commitment. Understanding the problem helps you create plans for overcoming difficulty and provides information about the skills that the AICPA looks for most in today's CPA candidate. If you want to investigate the possibilities of becoming a CPA in India, you must prepare well.
- What kinds of skills do CPAs require?
CPAs must be detail-oriented and possess good analytical, critical thinking, quantitative, organisational, and communication abilities.
- Is an MBA better than a CPA?
An MBA and a CPA are two independent degrees. For accountants, a CPA is a professional certification rather than a degree. An MBA is a graduate-level credential. You might obtain an MBA in accounting before becoming a CPA. With an MBA and a CPA licence, you can eye a high CPA salary in India.
- Can you become a CPA without a degree?
A bachelor’s degree is an absolute requirement to pursue CPA career opportunities.
