The (Certified Public Accountant) CPA salary in India and South Africa is very similar to both the hourly and annual rate when converted to US currency. It is $13,084 and $14,671, respectively. CPAs in Australia and the USA experience an annual salary in the $60,000 range, while in Canada and New Zealand, they see a pay in the $50,000 range. Those salaries are in the currency for each of those countries.
A CPA career will have a different salary depending on the country they work in, the experience they have, the specific industry they work in, and any specializations or certifications they have. Use this article to learn more about how the salary differs by country, industry, and experience. In addition, we cover the typical benefits, working schedule, and job outlook for these professionals.
How Much Does a CPA Make per Year by Country?
|CPA Salary||US||Canada||UK||Australia||New Zealand||India||South Africa|
|Hourly Pay||$29.00||C$26.00 ($19.75)||E21.63* ($23.10)||AU$31.00 ($23.63)||NZ$28.00 ($20.23)||Rs 469.99* ($7.01)||R94.71* ($7.05)|
|Annual Pay||$62,054||C$59,838($45,457)||E45,000 ($48,057)||AU$65,909 ($50,229)||NZ$52,225 ($37,727)||Rs 877,581 ($13,084)||R196,999 ($14,671)|
*These figures are estimated based on the other pay information given. This assumes a 40 hour work week.
CPA Salary Influencing Factors
CPAs have different job functions and busy times of the year at work depending on the tax structure of the country they are employed in. The data taken below comes from CPAs who work in 1 of the 7 countries listed in the table above who report their salary to Payscale.
How Much Does a CPA Make in the US?
The 10th percentile of earners in the US will make $44,654 annually and $18.13 an hour while the 90th percentile will make $101,090 annually and $50.27 an hour. If they get paid overtime, it is reported to range from $22.03 to $56.14. A bonus from $601.00 to $13.051, commission up to $45,615, and profit sharing up to $9,587 is reported. In total, their salary is $44,348 to $107,343 dollars.
How Much Does a CPA Make in Canada?
Hourly, CPAs in Canada earn C$19.87 to C$40.00 with possible overtime at a rate of C$26.67. The annual salary is C$40,288 to C$94,655. CPAs who meet certain goals may earn bonuses up t o C$15,121 and a profit share of C$1,900.
How Much Does a CPA Make in the UK?
There is minimal reporting of the CPA salary in the UK. However, those that do report it create a salary range from E36,000 to E60,000 with the median closer to the 25th percentile of earners.
How Much Does a CPA Make in Australia?
The annual salary for CPAs in Australia is AU$48,100 to AU$90,000. They can earn bonuses from AU$636.00 to AU$10,237 and a small profit share of AU$2,000. Fewer people report their income as an hourly rate, but those that do make between AU$23.11 and AU$51.52 with overtime pay at AU$40.00. The total income is AU$48,892 to AU$97,581.
How Much Does a CPA Make in New Zealand?
The hourly rate for CPAs in New Zealand is NZ$17.34 to NZ$46.37 with overtime of NZ$28.30. From an annual perspective, the salary is NZ$39,790 to NZ$77,789 with bonuses of NZ$8,565 and a marginal profit share of NZ$1,000. As a result, their total income is NZ$39,652 to NZ$81,000.
How Much Does a CPA Make in India?
CPA salary in India is Rs 302,012 to Rs 2,434,472. Additional sources of income in the form of bonuses and profit shares are reported and can be quite high. They are Rs 996,662 and Rs 2,483,233, respectively. There is no hourly rate listed, and the full pay is Rs 329,444 to Rs 2,761,717.
How Much Does a CPA Make in South Africa?
CPAs who work in South Africa will see a salary range of R107,774 to R463,689. They can earn a bonus of R17,250, but there is no other extra income listed. The full pay is identical to the base salary range of R107,774 to R463,689.
CPAs in the United States see approximately a 19 percent increase in salary at every level of experience while in Canada the same level of increase is seen from mid-career to late-career CPAs. In New Zealand, the most drastic pay jump is between entry-level and mid-career CPAs. As is typical with many jobs in India, the pay increases sharply for experienced professionals at 162 percent above the national average. Pay growth in Australia increases more quickly at the beginning and end of the career and plateaus slightly for the middle years.
The most common level of experience for CPAs who report their income to Payscale is 1-4 years in the United States, New Zealand, India, Canada, and Australia. It is 5-9 years in South Africa and 10-19 years in the United Kingdom.
A CPAs industry is highly dependent on the tax codes and reporting structure within different countries. While we typically think of the spring as the busy time for CPAs, this is not universal. Within the United States, most CPAs work for accounting services, government, finance, and insurance, or in management. The highest paying industries are securities and commodity brokerage, federal government, securities and commodity exchanges, and software publishers.
Business is a global game now, and CPAs who are prepared to function in a global economy are a valuable asset. One way to do this is to become a chartered global management accountant.
Certain skills are rewarded more highly than others. In the US, valuable skills are tax consulting and financial analysis while in New Zealand these are account management and accounts payable. Finally, in Canada, the CPA should excel at financial reporting and auditing.
Virtually all accountants need some level of specialization. A CPA is the most common certification.
Schedule & Working Hours
Accountants work full-time. In the United States, their busy schedule is in the early spring as taxes are due on April 15th. It is not unusual for CPAs to work more than 40 hours a week at these peak times. However, they may have a more flexible scheduling during the off-season.
The activities done during the workday depend on the type of company worked for and the time of year. Some CPAs will work for themselves or run a business with other accountants. New or inexperienced CPAs will likely complete the same tasks on a daily basis as they learn the profession. They can diversify their day after mastering typical processes. There are additional activities that a CPA does beyond taxes. These can include researching, compliance, security risk, and investment advice.
Bonuses & Benefits
One of the big advantages of being a CPA is the variety of ways and companies that hire these professionals. They are found in virtually every industry and can specialize within these different fields. Another benefit is only for those who prefer to work by themselves. By and large, the CPA job involves individual work.
CPAs who work for companies will receive benefits like healthcare, paid time off, sick leave, family leave, tuition reimbursement, and an employee wellness program. Those that are self-employed will not receive any company benefits, but they will have the flexibility of owning their business and working when they want to.
The table below shows the healthcare coverage by country. Interestingly, Australia and New Zealand have the lowest rates of coverage for CPAs.
|Country||United States||Canada||United Kingdom||Australia||New Zealand||India||South Africa|
The projected job growth for CPAs in the United States is 11 percent through the year 2024. As stated above, CPAs with the ability to work in a global environment will be highly sought after. Since CPAs prepare financial documents and taxes for businesses, their job is tied to the strength of the economy. When new businesses are created and flourishing there will be more demand for accountants. CPAs who can perform audits have an additional skill that will be needed in the future.
In Australia, it is predicted that there will be many job openings due to new openings and people retiring. Accountants are needed in every region in Australia. This is similar to all countries. While many CPAs may prefer to practice in urban or highly populated areas, there will be a demand for CPAs in more rural areas.
CPAs have a necessary role within economies. They work with individuals and businesses. These professionals can work for a company or can be self-employed. Regardless of the country where they work, they need to be able to work in a global economy. Therefore, the CPA salary may look different in India and New Zealand, but the CPA career job description will be similar.