I'm considering a career as a Certified Public Accountant (CPA) within the military. What are the unique benefits of being a military CPA compared to working in the civilian world? Additionally, what kind of career progression can one expect?
There are several unique benefits to serving as a CPA within the military compared to a civilian CPA role:
1. Diversity of Experience: In the military, you may be deployed to different locations or work with various organizational units. This broad exposure can bring diversity to your financial and managerial experiences, and enable you to develop a wide range of skills.
2. Job Security: The military offers job stability and security compared to some civilian jobs since it is less affected by economic downturns.
3. Comprehensive Benefits Package: The military provides a comprehensive benefits package that includes competitive pay, free or low-cost medical and dental care, cheap life insurance, and retirement plans. Besides, you can avail of 30 days of vacation annually, allowances for housing and meals, tax-free shopping privileges, and more.
4. Educational Opportunities: The military offers educational benefits such as tuition assistance and the GI Bill, which can cover not only future degrees but also help repay student loans.
Regarding career progression, military CPAs may begin their career as auditing and accounting officers to oversee the military's financial management and develop budgets. Promotions typically happen every few years based on performance, and over time you could rise to senior financial management roles, where you'd be in charge of implementing and controlling financial policies and plans, or you might be involved in directing financial management activities at various levels of the military.
Finally, a military financial career can set a solid foundation if you choose to transition to a civilian role later. Your leadership experience, coupled with your CPA credentials, can make you attractive to potential employers. Many companies value veterans for their discipline, teamwork, and problem-solving skills.
Remember, the military can be demanding, and deployments can be challenging. Yet, the benefits reaped often outweigh the demands, especially if you're someone who thrives in dynamic, structured environments.
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