Earning professional credentials can be a very smart move when it comes to building a strong career plan. Not only will certifications, such as the CPA (Certified Public Accountant), make you a more valuable asset to your current employer, they can also result in substantial increases in salary.
The most recent Salary Survey from CareerBank.com found that, on average, a professional with some type of professional credential earned $22,814 more every year than a professional without any credentials. Some other interesting statistics from the report include:
- In the public accounting realm, a professional with a CPA credential earned 67% more than a professional without the CPA credential: $65,934 compared to $39,428.
- Financial analysts and planners with a CFA (Certified Financial Analyst) or CFP (Certified Financial Planner) credential earned 69% more than those without a credential: $83,440 compared to $49,239.
- Audit professionals with the CIA (Certified Internal Auditor) credential earned 83% more than those in the field without the credential: $75,005 compared to $41,042.
- In the government sector, those with the CGFM (Certified Government Financial Manager) credential earned 91% more than those without the credential: $87,900 compared to $46,014.
It’s no surprise that a professional credential can be worth quite a bit in the accounting and finance world. Hiring managers know that professionals who have taken the initiative to secure certification in their field are valuable candidates. Professional certification is often a sign of commitment to the industry, interest in professional growth and a proactive on-the-job attitude. In turn, those qualities translate into higher salaries and stronger advantages when you’re on the hunt for a job.
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