Last Updated on October 15, 2024
The demand for Chartered Accountants (CAs) is soaring worldwide, as their expertise is crucial for economic stability and growth. Companies rely on CAs to steer complex financial problems, optimize spending, and boost revenue. The salary of CA in USA reflects this high demand, making it an attractive career path for many professionals.
Generally, CAs work 40-hour weeks across various sectors, including government agencies, public corporations, and private firms. Specializations such as management accounting, public accounting, auditing, and government accounting offer diverse career opportunities. The salary of CA in USA is highly rewarding, thus promising financial independence as well as a good standard of living.
The salary of CA in USA is particularly appealing, especially for those with substantial experience and positions in prestigious organizations. In the following sections, we shall delve deeper into these factors and provide a comprehensive overview of CA salaries in the USA.
Salary of CA in USA: Overview
Chartered Accountants (CAs) are in high demand across the globe, as their skills are essential for maintaining a healthy economy. Without the expertise of a CA, many companies would struggle to understand their spending patterns and identify opportunities to boost their overall revenue.
Most Chartered Accountants work around 40 hours per week, finding employment in a wide range of industries, including government agencies, public corporations, and private businesses. The field offers various specializations, with popular choices including management accounting, public accounting, auditing, and government accounting.
It’s well known that the United States offers competitive salaries to skilled professionals. For Chartered Accountants working in the US, the earning potential can be quite impressive, especially for those with the right experience and positions in reputable organizations.
Chartered Accountant Salary Distribution in the United States
In the United States, the median annual salary for Chartered Accountants (CAs) stands at $83,100. This figure represents the midpoint of the salary range, with half of CAs earning above this amount and half earning below it.
- According to available data, the lower quartile of CA salaries falls at $59,400, meaning 75% of Chartered Accountants earn more than this amount annually.
- Chartered Accountants who hold a Certified Public Accountant (CPA) license see a significant boost in their salaries, averaging 29.14% higher than those without the certification.
- On top of their base salary, CAs in the USA receive an average annual bonus of $3,385, representing approximately 2% of their total compensation.
- Location plays a crucial role in determining CA salaries. San Francisco leads the pack, offering an impressive average compensation of $288,672 for Chartered Accountants – a figure that’s 49% higher than the national average.
- Despite efforts towards pay equity, a gender wage gap persists. Male Chartered Accountants in the USA usually earn about 5% more than their female colleagues, a disparity that ideally should not exist.
Salary of CA in USA Based on Educational Qualifications
The United States offers a variety of educational pathways for those aspiring to become Certified Public Accountants (CPAs), which is the closest equivalent to Chartered Accountants in other countries. For individuals aiming to pursue a career in this field, a bachelor’s degree in accounting, business, or finance is typically the minimum requirement to enter the job market.
- Professionals holding a Certificate or Diploma in Accounting or Finance typically earn around $71,600 annually in the United States.
- Chartered Accountants with a Bachelor’s Degree in Accounting see a significant salary increase, averaging $94,400 annually. This represents a 32% premium over those with Certificate or Diploma qualifications.
- Those with a Master’s Degree in Accounting can expect even higher compensation, with average annual earnings reaching $129,000. This figure is 37% higher than the average salary for Bachelor’s degree holders in the field.
Salary of CA in USA Based on Experience
Here’s a comprehensive table summarizing the salary of Chartered Accountants (CAs) in the USA based on experience:
| Experience Level | Annual Salary (USD) | Percentage Increase |
| 0-2 years | 56,700 | Base |
| 2-5 years | 71,600 | 26% over 0-2 years |
| 5-10 years | 94,400 | 32% over 2-5 years |
| 10-15 years | 111,000 | 18% over 5-10 years |
| 15-20 years | 123,000 | 11% over 10-15 years |
| 20+ years | 131,000 | 7% over 15-20 years |
Salary of CA in USA: Highest Paying Certifications
Certifications are an excellent way to upskill and showcase your skill set. Here is an illustrative table on how certain certifications can boost your career:
| Certification | Hike in Salary |
| Certified Internal Auditor | +48.58% |
| Certified Government Financial Manager | +43.99% |
| Certified Fraud Examiner | +44.16% |
| Certified Defense Financial Manager | +64.36% |
| Accredited in Business Valuation (ABV) | +72.89% |
| Certified Management Accountant | +9.63% |
Salary of CA in USA: Highest Paying Cities
Some cities in the USA offer exceptional salaries for Chartered Accountants (CAs). The salary of CA in the USA varies based on living costs, and most companies adjust their pay accordingly. Ultimately, it also depends on the types of companies present in a city.
For example, New York City is a major metropolitan area with a dense population and a high cost of living. Additionally, the city hosts numerous companies, resulting in more job opportunities and higher salaries compared to other locations. This makes the salary of CA in the USA particularly competitive in cities like New York.
| Cities | Average salary p.a. |
| New York (NY) | $66,294 |
| Dallas, Texas | $63,463 |
| Houston, Texas | $63,125 |
| Atlanta, Georgia | $57,423 |
| Austin, Texas | $56,189 |
| Phoenix, Arizona | $56,104 |
| Chicago, Illinois | $55,657 |
| Los Angeles, California | $54,266 |
| Miami, Florida | $53,706 |
Salary of CA in USA: Top Government Sector Jobs
| Government Sector Jobs | Average Salary p.a. |
| US Department of Homeland Security | $98,896 |
| Enterprise Products | $90,648 |
| United States Department Of Defence | $96,639 |
| US Department of Agriculture | $91,119 |
| Liberty Mutual Insurance | $90,742 |
Salary of CA in USA: In-Demand Skills
Here’s a table summarizing the vital and in-demand skills required by a Chartered Accountant (CA) that can influence their salary:
| Skills Required for CA |
| Regulatory Reporting |
| Private Equity |
| Auditing |
| Tax Compliance |
| Knowledge of Financial Concepts |
| Financial Management |
| Financial Analysis |
| Cash Flow Analysis |
| Investment Experience |
| Financial Services |
| Financial Accounting |
| Risk Management |
| Financial Reporting |
Salary of CA in USA: Top Companies
Here’s a table summarizing the average salaries of Chartered Accountants (CAs) in the USA from top recruiters:
| Recruiter | Average Salary (USD) |
| Deloitte | $108,650 |
| PwC | $106,000 |
| Ernst & Young | $105,500 |
| KPMG | $104,000 |
| McGladrey | $95,000 |
| Grant Thornton | $93,000 |
| BDO | $90,000 |
| RSM International | $88,000 |
| Crowe Horwath | $85,000 |
| Baker Tilly | $83,000 |
Scope of Chartered Accountant in USA
Chartered Accountants (CAs) are responsible for maintaining the accuracy and precision of financial documents, including tax records. They often serve as advisors, assisting both sole proprietors and corporations in making informed financial decisions. CAs also ensure that taxpayers receive value for their money by effectively managing and allocating resources. Their primary responsibilities include:
- Preparing tax documents and ensuring timely payment of taxes.
- Creating financial and accounting statements for corporations to present to potential investors.
- Auditing documents to detect any mismanagement of funds.
- Advising clients on strategies to save money, boost revenue, and manage funds more efficiently.
- Preparing budget records for government agencies involved in financial arrangements.
Career Paths for a CA in USA
Here is a table outlining potential career paths for Chartered Accountants (CAs) in the USA, along with average salaries and recruiters:
| Job Title | Average Salary (USD) | Top Recruiters |
| Certified Public Accountant (CPA) | $108,650 | Deloitte, PwC, Ernst & Young |
| Chief Financial Officer (CFO) | $150,000 – $250,000 | KPMG, Grant Thornton |
| Financial Controller | $120,000 | BDO, Crowe Horwath |
| Accounting Manager | $95,000 | RSM International, Baker Tilly |
| Senior Accountant | $85,000 | McGladrey, Protiviti |
| Financial Analyst | $70,000 – $100,000 | Bank of America, JPMorgan Chase |
| Tax Consultant | $60,000 – $120,000 | H&R Block, Deloitte |
| Internal Auditor | $70,000 – $110,000 | EY, PwC |
| Budget Analyst | $65,000 | Accenture, Wells Fargo |
| Forensic Accountant | $80,000 | Kroll, FTI Consulting |
| Management Consultant | $103,000 | Bain & Company, McKinsey & Company |
| Risk Manager | $90,000 | Aon, Marsh & McLennan |
| Treasury Analyst | $75,000 | Goldman Sachs, Citibank |
| Investment Banker | $100,000 – $150,000 | Morgan Stanley, Barclays |
| Corporate Finance Manager | $110,000 | HSBC, Deutsche Bank |
Salary of CA in USA: Other Benefits
The most common benefits provided to Chartered Accountants (CAs) in the USA, along with their salary packages, include the following:
- Food Allowance
- Professional Development Assistance
- Parental Leave
- Relocation Assistance
- Disability Insurance
- Flexible Work Schedule
- 401(k) Matching: Employers contribute to your 401(k) account to match your contributions according to your plan’s terms, significantly enhancing long-term savings.
- Tuition Reimbursement
- Life Insurance
- Vision Insurance
- 401(k): A retirement savings plan with tax advantages. Employees agree to have a portion of their paycheck deposited into an investment account, which employers may partially or fully match.
- Dental Insurance
These benefits contribute significantly to the overall compensation package for CAs in the USA, making their roles even more attractive.
Jobs like Chartered Accountancy in USA
| Profession | Average Salary |
| Staff Accountant | $55,945 p.a |
| Financial Accountant | $63,635 p.a |
| Tax Accountant | $65,254 p.a |
| Accounts Payable Clerk | $18.18 per hour |
| Bookkeeper | $19.30 per hour |
| Financial Analyst | $48k — $82k |
Conclusion
The demand for Chartered Accountants in the USA continues to grow across various sectors, including corporations and government agencies. With an average base salary of $108,650, CAs in the USA can easily secure six-figure incomes while working for some of the world’s leading companies.
Top global firms such as Deloitte, Ernst & Young, Grant Thornton, and KPMG are excellent options for those pursuing a lucrative career in accounting. These organizations not only offer competitive salaries but also provide substantial benefits and bonuses. For instance, CAs in high-demand cities like San Francisco can earn upwards of $288,672, significantly exceeding the national average.
The potential for career growth and a high standard of living for CAs in the USA is impressive, as the country presents numerous opportunities for advancement. Overall, the salary of CA in USA reflects the value placed on their skills and expertise, making it a highly attractive profession for aspiring accountants.
FAQs
What is the average salary of a CA in the USA?
The average salary of a Chartered Accountant (CA) in the USA is approximately $108,650 per year. Salaries can range from $48,800 for entry-level positions to over $136,000 for experienced professionals.
How can I become a CA in the USA?
To become a CA in the USA, you typically need to complete a bachelor’s degree in accounting or finance, pass the CPA (Certified Public Accountant) exam, and gain relevant work experience. Some may also pursue additional certifications for better job prospects.
Can Indian CAs work in the USA?
Yes, Indian CAs can work in the USA, but they must obtain the necessary certifications and meet specific requirements set by employers. Pursuing further education or certification in the USA can enhance job opportunities.
What are the top courses for aspiring CAs in the USA?
Top courses include a Bachelor’s Degree in Accounting, Master’s Degree in Accounting or Finance, and specialized certifications like CPA or CMA (Certified Management Accountant).
What factors influence the salary of a CA in the USA?
Several factors affect a CA’s salary, including experience level, location, type of employer (public accounting firms vs. private companies), and additional certifications such as CPA.
What are some high-paying cities for CAs in the USA?
Some of the highest-paying cities for Chartered Accountants include San Francisco, New York City, and Washington D.C., where salaries can exceed $120,000 annually depending on experience and qualifications.
Naina Johar is a seasoned content writer with over three years of experience in the EdTech industry. With a degree in Sociology and a diploma in French, Naina helps many study-abroad aspirants with their career growth. Her exposure to foreign languages and cultures is key to understanding the importance of education and academic integrity.
