CPA or not?

Since CPA discounts membership for Amex holder, I wonder should I enroll, just joking.

Nowaday almost everyone in accounting industry study CPA. How big do you see the difference in your salary, your responsibility, your opportunity in the company before and after getting a CPA? Do you ask for a raise once you cpa qualified?

I felt like we all are rushing to study CPA as a result of a marketing plan from CPA. Bachelor and Mastee degree are not enough anymore. Another 2 years of studying and expensive membership. At the same time we don't get much out of the CPA material compared to our university.

I'm so curious if anyone thinking the same ?

Comments

  • +1 vote

    Why not CAANZ?

  • +1 vote

    I did CAANZ immediately as the company paid for it. I think it is good to do but don't expect a raise in your current role, I feel that it is more for when you are looking for other better roles where a requirement is that you have completed either CAANZ or CPA. Best scenario is find a company who is willing to pay for it or give you some sort of support :). To me personally, it was worthwhile.

  • +1 vote

    CIA is easier in my opinion and opens up different career paths.

  •  

    CA is looked upon as better then CPA and yes there is a pay increase. You won't climb very far without either.

  • +3 votes

    'CA is looked upon as better then CPA' - I think this is true in the industry.

    Those outside of the industry only know CPA.

  • +2 votes

    Regardless of how little extra knowledge you gain from your CPA/CA studies, not having them will limit your employment opportunities, just because all the recruiters/employers look for qualified candidates. A lot of times as soon as they hear you are not qualified your CV will be put aside, despite your experience.

  • -1 vote

    CPA Australia is not the same as CPA in the USA, just fyi
    CA has traditionally been seen as more prestigious than CPA, but the gap is closing and there are far more CPA's around the world now than CA's.

    The main barrier for accountants to become a CA is that they are required to work in an approved organisation for at least 3 years. This is predominantly multinationals, Big4 or public practice firms. For everyone else (ie company accountants), you don't have the option to do CA.

    Unless you want to work specifically in a Big4 or public practice, you will not find any difference between the two nor will one put you at a major disadvantage.

    My employer provides mentoring and paid study leave to accountants, as well as fully covering the course costs. Once they complete the course, they receive a fair pay rise. This isn't representative of all companies though

    •  

      You need relevant experience, but it doesn't need to be with a CA firm. Your CA mentor can be from anywhere.

  • +1 vote

    I studied CA while doing my time in Big 4. Agree with a previous poster that CA is viewed with more prestige but the gap is closing. I think there will remain a distinction between them purely because there are more CPA's than there are CA's.

    A very general hierarchy of Accounting professions look like this:
    Accounts Payable/Receivable/Admin
    Accounts Assistant
    Accountant (Financial/Management)
    Senior Accountant
    Finance Manager
    Financial Controller
    CFO

    Generally without CPA/CA your employment opportunities wont go beyond the Accountant level, and salary level is likely to max out at 80-90k (WA).

  •  

    If you are serious about your career there is no two ways about it. You need your ca or your cpa. More than anything it shows a commitment to your field.

    You could be the smartest on the block but highly unlikely anyone will look at you without a professional qualification. There are exceptions but they are few and far between.

    Therefore pay rises will only come with better roles and without the qualification you won’t get those roles to start with. I suggest starting your studies ASAP.

    I am a cpa but I agree with others that ca is probably seen as more prestigious but in reality when it comes to most jobs it doesn’t make a difference.

    Most companies will pay for your course and provide you with a couple of days of study leave as well. They will also pay for your subscription fee. Think long term not the next year or two ahead.

    Hope this helps.