Maintaining Your CPA License: Its Value Beyond Public Accounting
In today’s competitive job market, the Certified Public Accountant (CPA) license remains a distinguishing credential, not only for those working in public accounting but also for individuals in other corporate roles. This article explores the benefits of maintaining a CPA license and how recruiters view this credential in non-public accounting positions. Whether you are retired, considering a career change, or simply curious about the long-term value of your CPA, this guide offers insights into making the most of this valuable certification.Why Keep Your CPA License When Not Working in Public Accounting?
Many CPAs have worked vigorously to earn their license, only to later wonder if it is worth maintaining, particularly if they are not working in public accounting. The initial cost of obtaining and renewing the CPA license, along with the annual continuing education requirement, might seem like a burden. However, several compelling reasons suggest why staying current with your CPA license is beneficial:
Self-satisfaction and Professional Integrity: The CPA designation is a symbol of hard work and dedication. Maintaining it ensures that you remain committed to professional standards and standards of excellence in the field of accounting. Potential Career Opportunities: Retaining your CPA license allows you to keep your doors open for new opportunities, even if you are not currently working in public accounting. Recruiters often look for this credential when filling roles in finance, internal auditing, and other corporate positions. Continuing Marketability: The CPA designation remains a highly valued credential in the accounting profession. Staying current with advances and standards in accounting ensures that your knowledge stays relevant and up-to-date.Before deciding to let your CPA license lapse, consider the potential implications and the various ways it can still be of value in your career.
Recruiter Perspective on CPA in Corporate Jobs
When applying for corporate positions, such as financial analyst roles, the CPA license can significantly impact your job prospects, depending on the specific requirements of the company and the position you are targeting:
Public Companies: In a public company setting, a CPA license is often a minimum requirement for entry-level finance positions. Even if you haven't passed the CPA exam, preparing to sit for it can make you a more competitive candidate. Those who have passed the exam and obtained their CPA license tend to be considered for early promotion.
Private Companies: For private companies, especially smaller ones, having a CPA license can place your application at the top of the candidate list for lower-level positions. However, the salary requirements might exceed what the company can offer. Private companies typically value experience, so they may be less inclined to spend time training new hires who lack the necessary credentials.
Tailoring your resume to highlight your specific skills and experiences in relation to the requirements of the target position can greatly improve your chances of success.
Real-World Examples and Insights
From my personal experience, as an accountant having interviewed for numerous accounting positions, both in public accounting and other industries, one of the common questions posed during the interview process was whether I held a current CPA license. In most instances, the CPA designation was listed as a minimum requirement, even if it was not a legal requirement. Recruiters viewed having a CPA license as a significant advantage and often favored candidates who possessed this credential.
The CPA license may not be legally required for every job, but it is a widely recognized credential that opens many doors. It is best to avoid attempting to justify the non-requirement of a CPA during job interviews, as it may reflect poorly on your professionalism and dedication to the field.
For individuals planning to pursue a highly regarded position, such as that of a Controller or CFO, obtaining the CPA license is essential. This credential demonstrates a commitment to the highest standards of accounting practice and can significantly enhance your career prospects.
Whether you are currently working in public accounting or considering a career in a different sector, maintaining your CPA license remains a sound investment in your professional future. Keeping current with your continuing education and understanding the value of the CPA designation in the job market can make all the difference in your career trajectory.