Certified Public Accountant (CPA) Salary in New York, NY
How will Certified Public Accountant (CPA) impact your salary in New York, NY?
The average salary for someone with a Certified Public Accountant (CPA) in New York, NY is between $82,034 and $538,464 as of October 01, 2024. Salary ranges can vary widely depending on the actual position requiring a Certified Public Accountant (CPA) that you are looking for. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
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- Why get it?
- Does it make difference?
- Who grants it?
- Requirements
- How to Prepare
- How much does it cost?
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Why get a Certified Public Accountant (CPA)?
Certified Public Accountant (CPA) is a statutory title of a qualified accountant and functions as a license that allow the holder to provide accounting services to the public. All CPA's are accountants, but not all accountants are CPA's.
The CPA designation distinguishes a professional with extensive education, experience, and high standards. CPA's may often perform audits, advise on taxation matters, investigate fraud, and/or conduct business valuations. Licensing requirements may vary slightly by each state.
There is only one CPA license. However, many CPA holders obtain additional credentials that indicate expertise in certain specialized areas of Accounting.
For example, a Forensic CPA may hold a Certified Fraud Examiner (CFE) certification and concentrate on anti-fraud investigations and auditing activities. Forensic CPA's use skills to collect and analyze data that is sometimes hidden to uncover many types of fraud such as money laundering, securities fraud, and embezzlement. These CPA roles are typically found in law enforcement, governmental agencies, banking, and insurance.
About Certified Public Accountant (CPA)
Does having a CPA certification make a difference in pay and career progression?
Who grants the CPA certification?
What are the requirements for a CPA Certification?
1. Passing the Uniform Certified Public Accountant Examination, that is set by the American Institute of Certified Public Accountants (AICPA) and administered by the National Association of State Boards of Accountancy (NASBA).
2. Completion of 150-semester units of a college education. (Generally 30 hours more than a bachelor's degree) Many schools offer a 5-year combined bachelors and master's degree to meet the 150-hour requirement, but a master's degree is not required.
3. One year of accounting experience. (Some employers will pay the costs associated with taking the exam)
What preparation is recommended for the CPA exam?
The CPA Exam Blueprint, provided by AICPA, is a document that details what to expect in the exam and includes an outline of the content, sample questions, and definitions of the skills that will be tested. Because tax laws and regulations may change, there are also periodic updates that are published in the AIPCA Policy on New Pronouncements. This should be included in the preparation as it will reference new content being added to the exams.
Candidates for the CPA are allowed 18 months to complete all four exams. It is generally recommended to sit for the exam as soon as the requirements are fulfilled and to complete the testing within 12 months. There are many CPA review courses available and employers often will pay for these courses. Various review and prep courses are offered by different vendors, however the AICPA does not run or endorse any of these courses.
How much does it cost to obtain CPA certification?
A review course on average will cost around $1,500. Application fees for the exam may differ by state but average between $50 and $200. The exam fees also vary by state and are charged by each of the four sections, the current cost is around $193 per section. Then there are the registration fees, which may be paid as you register for each section, but are only good for 6 months. This means if you sign up for all 4 sections at once, you must site for those 4 exams all within 6 months. It is recommended to sign up for only one exam section at a time. The cost for a single section is around $65. Most states also require an ethics exam be taken after the CPA exam has been completed. The cost of the ethics exam is between $150 and $200 and includes a study guide. Finally, there is the license fee payable to the state you will be licensed in. Fees vary by state and can be between $50 and $500 and must be renewed annually.
Similar to too many other certifications, there is a requirement for continuing education to keep the certification current. These costs may vary, but a general estimate is roughly $1,000 per year. Depending on your employer's policy, some or all of this cost might be covered.
