CPA Salary in the US in 2023

In 2023, the average salary for a Certified Public Accountant (CPA) in the United States is expected to be around $75,464 per year. Entry-level CPAs with less than 1 year of experience can expect to earn an average salary of about $58,751, while those with 20 years of experience could command an average of $122,000. The salary range for CPAs can vary depending on factors such as years of experience, industry, and location.

Key Takeaways:

• CPAs in the United States can expect an average salary of $75,464 in 2023.
• Entry-level CPAs earn an average salary of $58,751, while experienced CPAs with 20 years of experience earn around $122,000.
• The salary of a CPA can be influenced by factors such as industry and location.
• Washington D.C., New York, New Jersey, California, and Massachusetts are some of the highest-paying states for CPAs.
• Working for the Big Four accounting firms (Deloitte, PwC, EY, and KPMG) can result in higher salaries.

It is important to note that these figures are based on average salaries and can vary depending on individual circumstances and factors such as education, certifications, and job responsibilities.

Factors Affecting CPA Salaries

Several factors can influence the salary range for CPAs, including their years of experience, industry specialization, and geographical location. Let’s take a closer look at each factor:

1. Years of experience: As with many professions, CPAs can expect their salaries to increase with experience. Entry-level CPAs with less than 1 year of experience typically earn an average salary of about $58,751 per year. However, as they gain more experience and expertise in the field, their earning potential can significantly increase.
2. Industry specialization: The industry in which a CPA works can also impact their salary range. For example, CPAs working in sectors like finance or consulting may earn higher salaries compared to those in industries like non-profit or government. This discrepancy is often due to the demand for specialized skills and the level of responsibility associated with different industries.
3. Geographical location: The location in which a CPA practices can play a significant role in their salary. Certain regions, such as Washington D.C., New York, and California, tend to offer higher salaries due to the higher cost of living and increased demand for accounting professionals. On the other hand, CPAs working in rural areas or locations with a lower cost of living may earn lower salaries.

It’s important to note that these factors are interlinked and can vary depending on individual circumstances. For example, an experienced CPA specializing in a high-demand industry in a high-cost-of-living area will likely earn a higher salary compared to an entry-level CPA in a lower-demand industry in a rural area. Additionally, the level of education, additional certifications, and job responsibilities can also influence a CPA’s earning potential.

So, when considering a career as a CPA or evaluating salary expectations, it’s crucial to take into account these factors and make informed decisions based on personal goals and circumstances.

Years of Experience	Industry	Location
Less than 1 year	Non-profit	Rural area
5-10 years	Finance	New York City
20+ years	Consulting	Washington D.C.

Example Table: This table illustrates how different combinations of factors can impact CPA salaries. It highlights the varying salary ranges based on years of experience, industry, and location. Keep in mind that these are just examples and actual salaries may differ.

Entry-Level CPA Salaries

For entry-level CPAs with less than 1 year of experience, the average salary in 2023 is projected to be approximately $58,751. This salary can vary depending on factors such as education, certifications, and job responsibilities. It is important for aspiring CPAs to be aware of the industry and location they plan to work in, as these factors can greatly impact their earning potential.

When starting out in the field of accounting, many entry-level CPAs may find themselves working for public accounting firms, such as the Big Four. These firms offer competitive salaries and excellent opportunities for professional development. On average, accountants at the Big Four accounting firms can expect to earn annual salaries ranging from $74,838 to $81,000. However, it is important to note that compensation can vary based on location and other factors.

Another factor to consider when evaluating entry-level CPA salaries is the industry in which one plans to work. Salaries for CPAs can vary significantly across industries. For example, CPAs working in accounting, tax preparation, bookkeeping, and payroll services earn an average salary of $91,140, while those in media streaming distribution services can command an average salary of $144,780. It is essential for aspiring CPAs to research and consider these industry-specific salary ranges when planning their career paths.

Table: Average Entry-Level CPA Salaries by Industry

Industry	Average Salary
Accounting, Tax Preparation, Bookkeeping, and Payroll Services	$91,140
Management, Scientific, and Technical Consulting Services	$99,360
Government Agencies	$68,610
Manufacturing	$85,320
Finance and Insurance	$99,470

Keep in mind that these salary figures are averages and can vary based on individual circumstances and factors. It’s always advisable for entry-level CPAs to continue acquiring relevant certifications, further their education, and gain valuable experience to enhance their earning potential in the accounting profession.

Experienced CPA Salaries

CPAs with 20 years of experience can command an average salary of around $122,000 in 2023. This figure reflects their expertise and the value they bring to the table after years of honing their skills in the accounting field. However, it’s important to note that salary ranges can vary depending on factors such as industry and location.

When it comes to experienced CPA salaries, the industry in which they work can have a significant impact. For example, CPAs in accounting, tax preparation, bookkeeping, and payroll services can expect an average salary of $91,140. On the other end of the spectrum, CPAs working in media streaming distribution services can earn a higher average salary of $144,780. These variations highlight the importance of considering the specific industry when assessing salary expectations.

Location is another crucial factor that influences the earning potential of experienced CPAs. Certain states offer higher salaries compared to others. For instance, CPAs in Washington D.C. have the opportunity to earn higher salaries, with an average annual wage of $100,500. New York, New Jersey, California, and Massachusetts also rank among the highest-paying states for CPAs in the US. The geographic location of an accountant can significantly impact their earning potential.

It is worth mentioning that the figures provided are based on average salaries and can vary based on individual circumstances, education, certifications, and job responsibilities. Additionally, the salary range for experienced CPAs can be further influenced by additional factors such as years of experience in top management roles or specialized expertise in niche areas of accounting.

Industry	Average Salary
Accounting, Tax Preparation, Bookkeeping, and Payroll Services	$91,140
Media Streaming Distribution Services	$144,780

“The expertise and experience of CPAs play a crucial role in determining their salaries. With 20 years of experience, CPAs can expect to earn an average salary of around $122,000 in 2023. However, it’s important to consider industry and location, as these factors can significantly influence earning potential.”

Overall, the salary of an experienced CPA is influenced by various factors such as industry, location, and additional areas of expertise. It is essential for CPAs to consider these factors when assessing their earning potential and negotiating salaries. By leveraging their skills and experience, CPAs can command higher salaries as they progress in their careers.

The highest-paying states for CPAs in 2023 include Washington D.C., New York, New Jersey, California, and Massachusetts. CPAs working in these states can expect to earn higher salaries compared to their counterparts in other parts of the country. The demand for skilled professionals in the field of accounting and finance, combined with the high cost of living in these areas, contributes to the higher salary ranges.

According to recent data, CPAs in Washington D.C. earn an average salary of $85,690 per year. In New York, the average salary is $83,310, while in New Jersey it is $79,080. The average salary for CPAs in California is $77,930, and in Massachusetts, it is $76,070. These figures highlight the significant salary differences between these states and others.

It’s important to note that the salary range mentioned above represents the average salaries for CPAs in each state. Depending on the specific location within the state, the salary may vary further. Factors such as the cost of living, demand for CPAs, and competition in the job market can influence the salary levels in different regions.

State	Average CPA Salary
Washington D.C.	$85,690
New York	$83,310
New Jersey	$79,080
California	$77,930
Massachusetts	$76,070

CPAs considering their career options should keep these salary differences in mind when deciding where to work. While higher salaries may seem attractive, it’s also important to consider the cost of living and other factors that may impact the overall quality of life in each state. Additionally, individual circumstances such as years of experience, certifications, and job responsibilities can further influence the salary offered to CPAs.

As we can see, the highest-paying states for CPAs in 2023 provide ample opportunities for financial growth and career advancement. Whether aspiring CPAs are starting their journey or looking to take their careers to the next level, considering the states with higher salary prospects is a crucial step in achieving their professional goals.

CPA Salaries at Big Four Accounting Firms

Working for the Big Four accounting firms can result in higher salaries, with average salaries for accountants ranging from $74,838 to $81,000. These firms, namely Deloitte, PwC, EY, and KPMG, are among the largest and most prestigious accounting firms in the world. Their global presence and diversified client base allow them to offer competitive compensation packages to attract top talent.

The salary range at the Big Four firms can vary based on factors such as job position, years of experience, and location. Junior accountants typically earn salaries at the lower end of the range, while senior-level professionals with extensive experience and specialized expertise command higher salaries.

Furthermore, working at the Big Four firms can provide valuable opportunities for career growth and advancement. The firms offer extensive training programs, mentorship, and exposure to a wide range of industries and clients. This exposure often translates to higher salaries as professionals develop their skills, expertise, and networks.

It is important to note that the salary figures mentioned here are averages and can vary depending on individual circumstances. Other factors such as educational qualifications, professional certifications (such as the CPA designation), and performance evaluations also play a role in determining salaries within these firms.

Accounting Firm	Average Salary Range
Deloitte	$76,837 – $82,000
PwC	$74,838 – $80,000
EY	$77,156 – $82,000
KPMG	$76,708 – $81,000

These salary ranges provide an overview of the earning potential for accountants at the Big Four accounting firms. As with any job, it is important for individuals to evaluate their own skills, qualifications, and career goals when considering employment opportunities within these firms.

CPA Salaries by Industry

The salary of a CPA can vary based on the industry they work in, with salaries ranging from $91,140 in accounting, tax preparation, bookkeeping, and payroll services to $144,780 in media streaming distribution services. This wide range of salaries is influenced by factors such as the complexity of the work, demand for services, and the level of expertise required in each industry.

To provide a clearer picture, let’s take a closer look at two industries where CPAs are commonly employed: healthcare and technology.

Healthcare industry

In the healthcare industry, CPAs play a crucial role in managing the financial aspects of hospitals, clinics, and other healthcare organizations. They are responsible for budgeting, financial analysis, and compliance with healthcare regulations. Due to the specialized nature of this industry, CPAs working in healthcare can expect to earn salaries ranging from $98,500 to $122,000, depending on their level of experience and the size of the organization they work for.

Technology industry

The technology industry is known for its rapid growth and innovation, and CPAs are in high demand to ensure financial stability and compliance within tech companies. CPAs working in technology can expect to earn salaries ranging from $108,000 to $134,500. These professionals are often involved in managing financial operations, conducting audits, and providing strategic financial advice to help companies navigate the unique challenges of the tech industry.

Industry	Salary Range
Accounting, tax preparation, bookkeeping, and payroll services	$91,140
Media streaming distribution services	$144,780
Healthcare	$98,500 – $122,000
Technology	$108,000 – $134,500

These salary ranges provide a glimpse into the potential earnings for CPAs in different industries. It’s important to note that individual salaries may vary based on factors such as location, years of experience, and additional certifications or qualifications. CPAs seeking career opportunities within a specific industry should consider the unique demands and financial complexities associated with that industry to make informed decisions about their professional growth.

In summary, the average CPA salary in the United States for 2023 is projected to be around $75,464 per year, with variations based on factors such as experience, industry, and location. Entry-level CPAs with less than 1 year of experience can expect to earn an average salary of about $58,751, while those with 20 years of experience could command an average of $122,000.

Factors such as years of experience, industry, and geographic location can significantly impact CPA salaries. The highest-paying states for CPAs include Washington D.C., New York, New Jersey, California, and Massachusetts. Working for the Big Four accounting firms (Deloitte, PwC, EY, and KPMG) also offers the potential for higher salaries, with average salaries for accountants at these firms ranging from $74,838 to $81,000.

Additionally, the industry in which a CPA works can affect their salary. Salaries can range from $91,140 in accounting, tax preparation, bookkeeping, and payroll services to $144,780 in media streaming distribution services. It is important to note that these figures represent average salaries and may vary depending on individual circumstances, such as education, certifications, and job responsibilities.

Overall, the field of CPA offers a range of salary opportunities depending on various factors. CPAs can expect to earn a competitive salary in the United States, with the potential for growth and increased earnings as they gain experience and specialize in different industries. It is crucial for aspiring and current CPAs to consider these factors when planning their career paths and negotiating their salary expectations.