Table of Contents

1. Demand for CPAs in India and the USA
2. 7 Benefits of Pursuing a CPA Course
3. Average CPA Salary in India and the USA
4. Four Factors that Impact the CPA Salary
5. CPA Accountant Salary in India Based on the Job Profile
6. CPA Salary in the USA Based on the Job Profile
7. FAQs on India CPA and US CPA
8. End Note

Accounting firms are the most profitable industries in the USA and India year after year. Certified public accountants continue to be in demand. US CPAs are slowly but steadily gaining popularity as an accounting profession worldwide, which is the same scenario in India. Accounting, in general, is considered a good and safe career. Not only does it offer stability, but it also offers growth opportunities and different career paths.

Most students are certainly aware of this course, but very few understand the job scope, responsibilities, and pay scale of becoming an accountant, particularly in today’s digital era. In the USA and India in particular, and even across the globe, gaining a CPA license is no easy task. Nonetheless, you can be sure that it’s one of the most prestigious career paths for decades and more so today.

Nevertheless, before embarking on this challenging journey, it’s important to know about the compensation and the benefits being a Certified Public Account could bring, regardless if you want to work in India or the United States.

DEMAND FOR CPAs in INDIA and the USA

The most prominent aspect of being a CPA, aside from its ethics and reputation is the salary. In various reports, a CPA certificate holder earns between 10-15 percent more on average than other fellow accountants. A CPA accountant salary is one of the most competitive these days. In India in particular, the average pay is INR 6,93,985. In many cities, the pay rate is even higher. The average pay of a certified public accountant in America is from $67,360 to $111,698 per annum.

India is not only the IT outsourcing hub in the world but has also emerged as a global hub for accounting and finance services. Driven by its robust outsourcing industry and the presence of so many multinational companies, the demand for CPAs in the country is growing by the minute. It’s no wonder why young people in India are highly considering enrolling in accounting courses.

Moreover, the growing trend of Indian organizations expanding their operations on an international scale has amplified the demand for US-certified public accountants. Accounting professionals are crucial in guiding and navigating companies through the intricacies of international tax laws, financial regulations, and corporate standards.

7 BENEFITS OF PURSUING A CPA COURSE

In whatever industry, accounting is important because it ensures accurate information in terms of decision-making, financial transparency, and regulatory compliance. Check out the benefits of pursuing an Accounting Course and eventually becoming a Certified Public Accountant.

1. Leadership and Strategic Impact

   In accounting, strategic thinking skills and leadership are developed. These skills are valuable in terms of working in the business and finance landscape. Moreover, accounting skills enable professionals to guide organizations to make wise decisions and influence business growth.

2. Career Advancement

   There are so many opportunities in the field of accounting for career advancement across various industry verticals. Furthermore, accounting is everywhere. It’s present in all aspects of a business whatever the size may be. This means that there will always be ample opportunities and promotions.

3. Expertise in Financial Management

   Studying accounting enables you to acquire and develop skills in financial budgeting, reporting, forecasting, and internal control. All these skills are vital for effective management and decision-making.

4. Varied responsibilities and skill development

   One of the biggest benefits of an accounting course is the huge variety of transferrable skills and responsibilities. Accounting students and graduates gain expertise in strategic planning, financial management and analysis, and regulatory compliance. The skills acquired could boost one’s value within the company and can open doors to a lot of career opportunities.

5. Competitive Salary

   A certified CPA salary is highly competitive. Furthermore, accounting offers job security. Organizations of all shapes and sizes need accountants to ensure that they remain profitable and comply with regulations. This means that there are always career opportunities for people in the field of accounting and accounts could expect job security whatever the economic scenario may be.

6. Problem Solving and Critical Thinking

   When you study accounting, you get to develop your problem-solving and critical thinking skills, which are paramount not just in your career, but in your day-to-day life as well. The skills you acquire enable you to distinguish and resolve financial issues and develop solutions to prevent them from happening again or recurring in the future.

7. Opportunities Across the Globe

   Accounting skills are recognized on a global scale. Being extremely valuable, it means that you get to have so many career opportunities. Accounting graduates and accountants can work with clients and companies across the globe to boost their adaptability and expand their experience in diverse business practices and cultures.

AVERAGE CPA SALARY IN INDIA and the USA

There are numerous factors that determine the amount that CPAs make. There are four main factors that affect the amount that CPAs take home.

Four Factors that Impact the CPA Salary

• Experience Level

  This one is the most obvious factor. Of course, the longer you work in your particular field of expertise, the more experience you gain. In accounting, the more experience you have under your belt, the more you can command compensation. There is substantial gap between entry-level or fresh accounts and experience CPAs.

• Size of the Company

  Naturally, bigger companies pay better than smaller ones. This is because big firms have more resources, thus, more opportunities for their employees. It’s safe to assume that the bigger the CPA company or firm, the more CPAs and accountants are working there with substantial pay.

• Type of Industry

  Accountants work in various industry verticals. Some work as tax accountants while others work as assurance professionals and auditors. All these professionals fall under the public accounting umbrella. Some certified public accountants work in corporate or private accounting as internal auditors and accountants. Some work as tax experts for a single organization.
  Corporate and public accounting salaries differ. Furthermore, jobs in each of these industries provide a wide array of salaries. A tax accountant in public accounting, for instance, can expect to make a different amount than an auditor working for the same company with the same experience level.

• Location

  The location or place you work in dictates the pay to some degree. An accountant in an entry-level position gets paid more in New York than in a different city.

CPA Accountant Salary in India Based on the Job Profile

• Accountant Average Salary – ₹ 125k – ₹ 510k per annum
• Chartered Accountant – ₹ 418k – ₹ 2m per annum
• Finance Manager – ₹ 371k- ₹ 2m per annum
• Financial Analyst – ₹ 222k- ₹ 1m per annum
• Senior Financial Analyst – ₹ 321k- ₹ 1m per annum
• Senior Accountant – ₹ 242k – ₹ 775k per annum
• Account Manager – ₹ 263k – ₹ 1m per annum
• Account Executive – ₹ 157k- ₹ 505k per annum
• Assistant Finance Manager – ₹ 397k- ₹ 1m per annum

CPA Salary in the USA Based on the Job Profile

• Tax Accountant – Average of $66,632 per annum
• Accountant – Average of $57,697 per annum
• Staff Accountant – Average of $57,594 per annum
• Tax Associate – Average of $66,771 per annum
• Tax Senior – Average of $84,124 per annum
• Accounting Professor – Average of $88,237 per annum
• Senior Financial Analyst – Average of $80,775 per annum
• Forensic Accountant – Average of $67,450 per annum
• Tax Preparer – Average of $19.29 per hour

FAQs on INDIA CPA and US CPA

Q. What is the Job of a CPA?

Ans. A certified public accountant works in a wide variety of professions. CPAs are in financial services, banking, education, and government agencies. Nonetheless, most certified public accountants are employed in corporate or public accounting.

Q. Is a US CPA Valid in India?

Ans. The AICPA or the American Institute of Certified Public Accountants conducts the CPA Exams. In India, CA exams are conducted by the ICAI or the Institute of Chartered Accountants of India. CPA provides a bigger recognition compared to CA. CPA is recognized in the United States, India, and across the globe, compared to CA, which is only recognized in India.

Q. What is the Scope of India CPA?

Ans. Across the globe, there are numerous US companies and more and more tasks related to accountancy are being outsourced to India. In India nowadays, there are a lot of US companies, so we can say that the job scope is really good. Some US firms that frequently hire in India include EY, Amazon, Deloitte, Invesco, Synchrony, and many more.

Q. What are the requirements for eligibility for a CPA in the USA?

Ans. To be eligible for the US CPA exam one should have 120 credits. Every graduation is converted into 30 years credits, thus, adding 90 credits for three years for NAAC A. The first division gives you 30 additional credits.

Applying for a license requires 150 credits. However, requirements vary by jurisdiction since every jurisdiction has particular requirements in terms of education, residency, and experience. For additional information, you may refer to the application materials of your jurisdiction.

Q. Is it difficult to clear US CPA Examinations?

Ans. Of course, the difficulty of the exam amounts to its worth and reputation. The exam has four sections, namely, the AUD, or Auditing and Attestation, BEC or Business Environment and Concepts, the FAR, or Financial Accounting and Reporting, and the REG, or the Regulation.

Q. What is the NTS and who issues it for the CPA Exam?

Ans. NTS means a Notice to Schedule, which is an authorization sent by the NASBA or the National Association of State Boards of Accountancy for an applicant to make an appointment with the testing provider after the exam fees are paid. Once processed, and a candidate is eligible to take one or more CPA Exam sections, the NASBA will issue the notice to the candidate. Furthermore, the NTS will list the section or sections of the Exam that a candidate is approved to take. Instructions on scheduling will be included in the Notice to Schedule.

Q. How Hard is the CPA Exam?

Ans. It’s indeed very hard. Overall, the CPA pass rates hover a little below 50 percent. Passing may be difficult, but it can be achieved. The key is to study well, set a strategy for time management, and don’t hesitate to call on your support network. Nevertheless, with good study materials and the right plan, there’s no reason why you should not pass. Positivity is the key.

Q. What are the Job Opportunities for US CPAs in India?

Ans. Certified public accountants can work in any accountancy field in India. Moreover, professionals can work as public, tax, and management accountants and lead in other accounting roles in NGOs and even in the government sector. Aside from that, a certified public accountant can also work as a Finance Manager or a Chief Financial Analyst while working mainly on auditing functions. Numerous multinational companies hire CPAs to handle their accounting and financial requirements, thus promising good job opportunities and a competitive salary package.

END NOTE

It’s interesting to note that at present, more and more students are taking up accounting courses. With the high demand, Indian states and US states are making more provisions to provide more benefits to CPA aspirants. A lot of colleges and universities worldwide are making sure to provide all the necessary tools so that graduates of accounting can focus on their CPA examinations.

Financial firms that are internationally certified are in higher demand because of the integration of the global markets. CPAs in the United States are high in demand among multinational firms operating in India. The opportunity for career advancement and growth is high for certified public accountants in India and the United States. Across different industry verticals, the CPA field continues to gain relevance as organizations become global and job opportunities go beyond geographical boundaries.