Thinking about pursuing the Canadian Chartered Professional Accountant (CPA) designation in 2026, but aren’t sure if it’s worth it? The journey to becoming a CPA requires a big commitment, in terms of time, effort, and money. You may have also heard that major changes are coming to the CPA program in 2027-2028. With all this, there are still plenty of benefits and opportunities that come with the CPA letters. I’ll explain the top benefits that you can get with the CPA designation in 2026 and beyond.
Benefits of Becoming a CPA in Canada
1. You can make $143,000 salary
Let’s start with numbers. CPAs in Canada earn more than their non-designated peers. According to CPA Canada’s 2023 Compensation Study, CPAs with 3 years of post-designation experience reported a median salary of $143,000, which is a 12% increase from $128,000 in 2020.
Among the provinces, Alberta has the highest median salary at $153,000. If you’re curious about salaries in your province, you can find regional reports on the CPA Canada website.
2. Job security
We’re in a talent crisis right now. A CPA Canada article quotes a survey by Robert Half, which found that 40% of finance and accounting hiring managers are struggling to fill positions due to a lack of accountants in Canada. In response to this “shrinking talent pool”, 45% of companies are offering referral bonuses and 40% are increasing salaries.
The situation in the U.S. is worse. An article from Financial Times notes that three-quarters of U.S. accountants are at or near retirement age. This prompted AICPA, the U.S. version of CPA Canada, to create a “Pipeline Acceleration Plan”, effectively making it easier to become a CPA. They launched the Experience, Learn & Earn (ELE) program, which allows students to work full-time at firms while completing their extra education requiements. They’re also pushing to classify accounting as a STEM field to attract more federal funding and a broader candidate pool.
The Government of Canada’s Job Bank also predicts a positive outlook for CPAs from 2024 to 2026. Factors like employment growth and the increasing demand for financial expertise across industries make this a solid career choice.
What about ChatGPT?
I know every future accountant is thinking that AI may eliminate their job. For routine clerical work, yes. For higher level judgement, doubt it. There’s still no concrete evidence that designated accountants are losing jobs to AI. The World Economic Forum’s 2023 Future of Jobs Report suggests that the jobs least likely to be lost to AI include ones that require “human skills such as judgment, creativity, physical dexterity, and emotional intelligence.” Accountants must be able to think logically to make informed decisions, use their creativity to find solutions for clients, and communicate effectively.
3. Diverse career options
The CPA designation isn’t just for traditional accounting roles. CPAs can branch out into a variety of industries and roles, including:
- Forensic accounting: Investigating financial fraud and disputes
- Climate accounting: Helping companies monitor their environmental impact
- Sports accounting: Managing finances for sports teams, athletes and high net-worth (HNW) clients
- Entrepreneurship: Starting and running your own business or advising firm
- Education: Teaching the next generation of accountants
Every company, from a tech startup to a Fortune 500 firm, needs financial expertise. As a CPA, you bring the necessary skills to help organizations make important business decisions.
Plus, the Canadian CPA designation is recognized globally. CPA Canada has Mutual Recognition Agreements (MRAs) with several countries, including the U.S., Australia, Hong Kong and Ireland, to name a few, making it easier to work abroad.
4. Prestige and credibility
The CPA designation is highly respected and CPAs are held to strict professional standards. Adding “CPA” after your name boosts your credibility with employers, colleagues and clients, opening doors for career growth and leadership opportunities. It tells people you’ve put in the work, you know your stuff, and you’re someone they can trust with complex business decisions.
Challenges to consider
Here are some challenges to consider as you’re thinking towards becoming a CPA.
1. Rigorous education process
Becoming a CPA takes time, effort, and money. The process typically takes 5-7 years, including the time to get an undergraduate degree in accounting. I break down the process of becoming a CPA in Canada in 4 steps here, showing different paths available to you depending on your background.
The full CPA Professional Education Program (CPA PEP) program and the Common Final Examination (CFE) cost around $11,000 including HST. On top of that, CPA students pay Annual Student Dues (ASD) of about $800 and most sign up for tutoring programs to boost their chances of passing.
The most recent fee schedule for CPA Ontario can be accessed here. While this can seem expensive, many employers offer financial support, covering CPA program costs if you agree to stay with the company for a certain period.
As noted earlier, there are major changes coming to the CPA program in 2027-2028. CPA Canada has re-assured us that there’ll be pathways for new students to either remain in the current program or transition to the future program. So you’ll have options. If you start now, you’ll likely complete most modules before the changes take effect. But if you wait, you’ll need to carefully compare the current program with the updated model to see which one aligns better with your goals, timing, and learning style.
2. Changing landscape
Decades ago, people used to say “accounting never changes.” Students who prefer a slower pace of work or stable routines often chose it for that reason. Not anymore. CPAs need to stay on top of industry changes. The accounting world is evolving fast, especially with the recent advancements in AI. A 2024 article by DataSnipper, an audit and finance software company, found that 78% of professionals say their companies are investing in AI to stay competitive. To keep up, CPAs will need to adapt and upskill.
Extra resources
Considering both benefits and challenges, yes, CPA is still worth it in 2026.
It gives you the expertise and credibility to succeed in the world of business and finance. It offers strong earning potential, career options, and career flexibility. AI is reshaping the profession, but it’s also creating new opportunities for CPAs to add value.
Ready to take the next step and set yourself up for success? Check out Gevorg, CPA exam coaching and learn the strategies to pass. Our comprehensive courses cover every stage of the CPA PEP process, including Core 1 and the Practical Experience Requirement (PER), ensuring you’re fully prepared. With a proven track record of helping over 4,500 students succeed, you can be next.
