We came across this website showing the average yearly salary of a CPA in the Philippines. From an entry-level of P17K to an experienced CPA of P50K. Are you surprised? Don’t be. The result was based only on the 182 salary profiles uploaded on the said site. Other sites may show a different figure depending on their data.
Anyhow, one of the hardest board examinations in the Philippines is the CPA Licensure Examination. If not on the 2nd or 3rd spot it’s consistently on the top 5 hardest ones. Statistics show that from the year 1932 to the year 2017 the average passing rate is about 25%. The passing rate remarkably hit 27% in the year 2018. But still, 27% is on the low end. Which only validates that the CPA exam is a tough one. Or is it?
Meanwhile, Gen Z who took the CPA exam in 2019, posted an average passing rate of 15%. Yep, from 27% down to 15% because the examination was that hard? Certainly, the exam is tough but the decline, however, may be attributable to factors such as quality of teaching, or quality of students, school, or environment condition, preparedness, etc.
Bottom line, the average salary of P50K for an experienced CPA/Accountant and P17K for an entry-level CPA is underrated. Of course, we are not equating that the harder the board exam, the higher the employment pay. But undoubtedly the CPA profession and/or Accountant is one of the best professions and most in-demand jobs in the Philippines.
Now, if you believe that it’s the right time to move out of salary-based employment and you are ready to do public practice, let us know. We are looking for potential partners anywhere in the Philippines who can operate as a franchisee acting as a back-office to provide competitively priced resources. Message us, we can assist you!