What is the average CA salary in USA?

The average annual CA salary in USA is around $105,000, with the salary range typically falling between $48,000 to $140,000. However, the salary can differ greatly depending on a number of factors such as certifications, skills, job profile, designation, experience, qualifications, location, gender of the candidate, and the type of organization they work for.

Chartered Accountants are in high demand in the US as various industries like banking, finance, accounting, and consulting businesses require Chartered Accountants' services. CAs are responsible for maintaining financial records, preparing financial statements, providing the financial guidance, etc. In this blog, you’ll get to know the CA salary in USA based on different factors. 

An analysis of Chartered Accountant salary distribution

Chartered Accountants (CAs) are highly skilled professionals who are responsible for managing financial affairs for businesses and individuals. The median salary for CAs in the USA is approximately $67,000 per year. However, there are some CAs who earn less than the median salary, while others earn significantly more.

• The salary distribution of CA in the USA differs depending on several factors, such as experience, education, location, industry, and employer type.
  
  
• In terms of industry, the highest-paying industries for accountants and auditors in the USA are generally finance and insurance.
  
  
• The highest-paying positions tend to be in executive or senior management positions.
  
  
• The lower 10% of CAs earn less than $47,000 per year, while the top 10% earn over $120,000 per year.
  
  
• Salaries for CAs tend to increase with experience, with entry-level CAs earning around $56,000 per year and those with 20+ years of experience earning over $100,000 per year.
  
  
• CAs in cities such as San Francisco, New York, and Los Angeles earn higher salaries due to the higher cost of living.

Average CA salary in USA based on academic qualifications

US universities offer CPA programs for Chartered Accountant positions, requiring a bachelor's degree in accounting or finance. Additional certifications like CIA or CFE may also be necessary. Strong technical skills, analytical thinking, and excellent communication abilities lead to high pay in this field.

Find out the average salary range offered based on the educational qualification given below,

• Certificate or Diploma in Accounting or Finance: The salary range for individuals with a Certificate or Diploma in Accounting or Finance in the USA is approximately $30,000 to $65,000 per year.
  
  
• Bachelor's Degree in Accounting: The salary range for individuals with a Bachelor's Degree in Accounting in the USA is approximately $45,000 to $129,000 per year.
  
  
• Master's Degree in Accounting: The salary range for individuals with a Master's Degree in Accounting in the USA is approximately $50,000 to $150,000 per year.
  
  
• Doctorate in Accounting: The salary for a CA with a Ph.D. in Accounting can vary depending on various factors. However, the average salary for a CFO (Chief Financial Officer) with a Ph.D. in Accounting in the USA is approximately $193,000 per year.

Chartered Accountant salary in USA based on experience level

The average Chartered Accountant's salary in the USA varies depending on the level of experience that a candidate has. Check out the rough salary range for different experience levels given below.

• Entry-level: Typically, a CA (Chartered Accountant) with 0-2 years of experience can expect to earn an average salary of $50,000 to $70,000 per year.
  
  
• Early-level: As a CA gains more experience (usually 2 - 5 years), their salary will typically increase to an average of $70,000 to $95,000 per year.
  
  
• Mid-level: With 5-10 years of experience, the average salary for a chartered accountant is around $95,400 - $110,00 per year.
  
  
• Experienced level: Those with 10-15 years of experience can expect to earn an average of $110,000 - $122,000 per year.
  
  
• Senior-level: For individuals with 15-20 years of experience, the average salary is approximately $120,000 - $130,000 per year.
  
  
• Executive level: Those with more than 20 years of experience can expect an average salary of over $130,000 per year, the highest average salary in this field.

CA Salary in US based on the relevant certification

Obtaining certification as a Chartered Accountant (CA) in the USA can greatly boost one's earning potential. Certified professionals are highly valued in the industry and can negotiate higher salaries based on their specialized knowledge, skill set, and demonstrated expertise. Find the average range of CA salary based on certifications presented in the table below. 

Top Paying Cities for Chartered Accountants in USA

The United States is a diverse country with different cities. Each city has its own salary range for various professions, including Chartered Accountants. Check out the average salary range of the Chartered Accountants positions in different cities of the USA below,

Must-have skills to increase CA salary in USA

The skills possessed by a Chartered Accountant (CA) candidate can greatly influence the salary range they can expect. By understanding the required skills for a CA, you can gain insight into the competencies and knowledge areas that employers value and how they may impact salary expectations.

1. Advanced knowledge of accounting principles, including GAAP and IFRS
2. Financial analysis and forecasting
3. Taxation laws and regulations
4. Risk management and compliance
5. Auditing and internal controls
6. Accounting software and tools, such as QuickBooks, Xero, and Sage
7. Financial modeling and data analysis techniques
8. Financial reporting standards, such as SEC reporting and SOX compliance
9. Project management and team leadership
10. Strong communication and interpersonal skills
11. Microsoft Excel, including advanced functions and macros
12. ERP systems, such as SAP and Oracle
13. Ability to identify and implement process improvements to increase efficiency and effectiveness
14. Financial reporting and analysis

Leading employers in USA for Chartered Accountants

In this section, you will discover some of the top employers in the USA. They are as follows,

• EY (Ernst & Young)
• PwC (PricewaterhouseCoopers)
• Deloitte
• KPMG
• Grant Thornton
• BDO USA LLP
• RSM US LLP
• Crowe
• Baker Tilly
• CBIZ MHM LLC

Potential Career Path of CA in USA

The scope of CA jobs is vast, with a wide range of career opportunities available in different sectors such as finance, accounting, taxation, and auditing. Below are the career paths of CPAs and Accountants.

Career paths for CPAs:

Staff Accountant: This is typically an entry-level position in which the individual performs basic accounting tasks such as data entry, reconciling accounts, and preparing financial reports.

Senior Accountant: A senior accountant has more experience and responsibility than a staff accountant, often overseeing the work of junior accountants and performing more complex accounting tasks.

Audit Manager: An audit manager is responsible for overseeing audit engagements, managing audit staff, and ensuring that the audit is performed in accordance with professional standards.

Chief Financial Officer (CFO): A CFO is the most senior financial position in an organization and is responsible for overseeing all financial operations.

Career paths for Accountants:

Bookkeeper: A bookkeeper is responsible for maintaining financial records, such as recording financial transactions and reconciling bank statements.

Staff Accountant: This is typically an entry-level position in which the individual performs basic accounting tasks such as data entry, reconciling accounts, and preparing financial reports.

Accounting Manager: An accounting manager supervises the work of other accountants and oversees the day-to-day operations of an accounting department.

Controller: A controller is responsible for maintaining financial records, preparing financial statements, and ensuring compliance with relevant laws and regulations.

The average salary for relevant professions to CA in USA

With a CA degree, people can apply for different similar positions with competitive salaries. Below are some of the similar professions along with their average salaries:

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Conclusion

In summary, Chartered Accountants (CAs) are in high demand in the USA, with numerous job opportunities across various sectors. A CA degree opens doors to similar professions like financial analyst, tax consultant, and internal auditor, with competitive salaries ranging from $50K to $250K. Pursuing a CA degree or Master's in accounting in the USA can lead to a lucrative career with growth potential and a high standard of living.

FAQS

1. What are the top 3 highest CA salaries in USA?

There are three top cities that offer the highest salaries to the CA professions. They are as follows, 

• San Francisco, CA. $81,000 - $85,000 per year - 217 salaries reported.
• Houston, TX. $67,000 - $70,466 per year - 894 salaries were reported.
• Denver, CO. $68,500 - $70.000 per year - 740 salaries reported.

2. What factors affect the salary of a CA in the USA?

The factors such as years of experience, certification, location, industry, and size of the company can all influence the salary of a CA in the USA.

3. Which industries offer the highest salaries for CAs in the USA?

Industries such as finance, accounting, and consulting offer some of the highest salaries for CAs in the USA.

4. Can pursuing a Master's in accounting lead to higher CA salaries in the USA?

Yes, pursuing a Master's in accounting can support CAs develop their skills and knowledge, which can lead to higher salaries in the USA.

5. Are there any additional benefits or bonuses offered to CAs in the USA?

Many companies and government organizations in the USA offer additional benefits and bonuses to CAs, such as health insurance, retirement plans, and performance-based bonuses.

6. What are the job prospects for CAs in the USA?

Job prospects for CAs in the USA are generally positive, with the profession expected to grow by 10% from 2020 to 2030, according to the US Bureau of Labor Statistics.