Chartered Public Accountants (CPAs) are respected and in-demand professionals in the finance industry. With their specialized knowledge and expertise in accounting, finance, and taxation, Chartered Public Accountants (CPAs) play a critical role in ensuring the financial health and stability of organizations.
In this article, we will take a closer look at the top 7 highest-paying accounting and finance positions for CPAs, according to The Mason Group’s 2023 salary guide. These roles require a CPA designation, and are essential in providing strategic financial guidance to organizations. By understanding these top-paying positions, CPAs can make informed decisions about their career paths and aim for greater financial success.
Download a free copy of The Mason Group’s salary guide here.
Chief Financial Officer (CFO)
As the highest-ranking financial executive in an organization, the CFO is responsible for providing leadership and oversight to the financial operations of a company. This includes managing financial reporting, budgeting, and forecasting, among other crucial functions. Typically, CFOs are CPAs with extensive experience in accounting, finance, and business strategy. Based on The Mason Group’s 2023 salary data, the average salary for a CFO is $275,000 per year, with a high of $350,000 and a low of $250,000.
VP of Tax
The VP of Tax is tasked with the critical responsibility of managing an organization’s tax compliance and tax planning strategies. This role requires developing and implementing tax policies, ensuring compliance with tax laws and regulations, and managing tax risks. As per The Mason Group’s 2023 salary guide, the average salary for this position is $235,000 per year, with a high of $280,000 and a low of $210,000.
VP of Finance
The VP of Finance is a key member of the executive team, responsible for managing all financial operations and ensuring the financial stability and sustainability of the organization. With their expertise in finance, accounting, and business strategy, the VP of Finance provides critical financial guidance to the leadership team to help drive the company’s success. According to The Mason Group’s 2023 salary data, the average salary for a VP of Finance is $225,000 per year, with a high of $265,000 and a low of $202,500, making this a highly sought-after and well-compensated position for CPAs.
VP of Internal Audit
The VP of Internal Audit serves as an experienced financial executive who leads a company’s internal audit function. This role is essential in providing independent assurance that the company’s internal control systems are effective and comply with laws, regulations, and industry standards. According to our 2023 salary data, the average salary for a VP of Internal Audit is $210,000 per year, with a high of $250,000 and a low of $190,000.
Director of Financial Planning and Analysis (FP&A)
The Director of FP&A is a senior-level financial professional who is responsible for overseeing the financial planning and analysis functions within a company. This role is key to providing strategic financial guidance to the company’s leadership team, as well as ensuring the company’s financial health and stability. According to The Mason Group 2023 salary guide, the average salary for a Director of FP&A is $195,000 per year, with a high of $210,000 and a low of $175,000.
Director of Financial Reporting/Corporate Controller
The Director of Financial Reporting/Corporate Controller plays a pivotal role in managing a company’s financial reporting and accounting operations. This involves ensuring the accuracy and reliability of financial statements and ensuring compliance with regulatory requirements. As a key member of the finance team, the Director of Financial Reporting/Corporate Controller also provides valuable insights and recommendations to executive management for strategic decision-making. According to The Mason Group’s 2023 salary data, the average salary for this position is $190,000 per year, with a high of $230,000 and a low of $180,000.
The Tax Director is an essential member of an organization’s leadership team, responsible for managing all aspects of tax-related compliance and planning. They oversee the preparation of tax returns, provide expert advice on tax-related issues to senior executives, and implement tax-saving strategies to maximize financial gains for the company. As per The Mason Group’s 2023 salary data, the average salary for a Tax Director is $190,000 per year, with a high of $220,000 and a low of $180,000. This is a highly sought-after position in the finance industry, and a CPA designation is typically required to qualify for this role.
In conclusion, whether you’re a seasoned CPA, or just starting your career in accounting and finance, understanding these positions and how much they pay can help you make informed decisions about your career. To learn more about all the top-paying positions for CPAs in 2023, as well as other positions in the accounting industry, download a free copy of The Mason Group’s salary guide here.