Iowa offers excellent opportunities for aspiring accountants, with strong job growth projections and competitive salaries ranging from $32,040 to over $200,000, depending on your role and experience. Whether you’re interested in becoming a CPA or exploring other accounting career paths, this comprehensive guide covers everything you need to know about launching your accounting career in the Hawkeye State.
Quick Facts: Accounting in Iowa
- Median Accountant Salary: $73,470 (May 2024)
- Job Growth: 10% increase expected through 2028
- Annual Job Openings: ~1,290 positions
- Top Employers: Ernst & Young, KPMG, Deloitte
- License Types: CPA and LPA
- Education Required: Bachelor’s degree minimum
Table of Contents:
Education Requirements for Iowa Accountants
To begin your accounting career in Iowa, you’ll need to meet specific educational requirements that vary based on your career goals. The foundation for all accounting careers starts with a bachelor’s degree, but many professionals pursue additional education to maximize their earning potential and career opportunities.
Bachelor’s Degree Requirements
All Iowa accountants must earn a bachelor’s degree from an accredited institution. Your program should include:
- Core Accounting Courses: Financial accounting, managerial accounting, cost accounting, and auditing
- Business Foundation: Economics, business law, finance, and management
- Quantitative Skills: Statistics, business mathematics, and data analytics
- Technology Training: Accounting software, spreadsheet applications, and database management
Most bachelor’s programs require 120 credit hours and take four years to complete. Iowa universities offer both traditional on-campus and online accounting degree options to accommodate different learning preferences and schedules.
Master’s Degree Advantages
While not always required, earning a master’s in accounting provides significant advantages for Iowa accountants:
- Fulfills the 150-credit requirement for CPA licensure
- Deepens expertise in specialized areas like taxation or forensic accounting
- Increases starting salary by 10-20% on average
- Provides networking opportunities with faculty and peers
- Offers advanced coursework in emerging areas like data analytics and cybersecurity
Online vs. On-Campus Programs
Iowa students can choose between traditional and online programs based on their circumstances:
Licensing Paths: CPA vs. LPA in Iowa
Iowa is unique among states in offering two distinct licensing paths for accountants: the Certified Public Accountant (CPA) and the Licensed Public Accountant (LPA). Understanding the differences between these credentials is crucial for planning your career path.
CPA (Certified Public Accountant) Requirements
The CPA license represents the gold standard in accounting credentials. To become a CPA in Iowa, you must:
- Education: Complete 150 semester hours of college credit, including:
- Bachelor’s degree with accounting concentration
- 24 semester hours in accounting courses
- 24 semester hours in business courses
- Examination: Pass all four sections of the Uniform CPA Exam:
- Auditing and Attestation (AUD)
- Business Environment and Concepts (BEC)
- Financial Accounting and Reporting (FAR)
- Regulation (REG)
- Experience: Complete one year of qualifying accounting experience under CPA supervision
- Ethics: Pass the AICPA Professional Ethics exam
- Continuing Education: Complete 120 hours every three years for license renewal
LPA (Licensed Public Accountant) Requirements
The LPA designation offers limited practice privileges and requires meeting at least one of these criteria:
- Two years of experience working under a CPA or LPA supervision
- Accounting degree from a four-year college accredited by the North Central Association
- Accounting degree from an accredited business or correspondence school
LPAs must also:
- Pass a state-administered examination (offered twice yearly)
- Renew their license every three years
- Complete 120 hours of continuing education per renewal period
Important Note: While the LPA license allows for limited public accounting practice, most employers and clients prefer CPAs due to their broader practice rights and national recognition. Consider the LPA as a stepping stone rather than a final destination in your accounting career.
Iowa Accounting Salaries by Role (2024 Data)
Accounting salaries in Iowa vary significantly based on your role, experience, location, and credentials. The following data from the Bureau of Labor Statistics (May 2024) provides insight into earning potential across different accounting positions.
General Accountants and Auditors
Salary by Specialization and Role
Salary by Metro Area
May 2024 Bureau of Labor Statistics salary data for Accountants and Auditors reflect state and national data, not school-specific information. Conditions in your area may vary. Data accessed June 2025.
Top Accounting Firms Hiring in Iowa
Iowa’s accounting industry features a strong mix of international, national, and regional firms offering diverse career opportunities. Understanding the landscape of potential employers can help you target your job search effectively.
Big Four Presence in Iowa
Three of the four largest global accounting firms maintain offices in Iowa:
- Ernst & Young (EY): Des Moines office serving central Iowa businesses
- KPMG: Des Moines location focusing on audit, tax, and advisory services
- Deloitte: Offices in Cedar Rapids and Davenport serving eastern Iowa
Major Regional and National Firms
Industry-Specific Opportunities
Beyond traditional public accounting firms, Iowa accountants find opportunities in:
- Agriculture: John Deere, DuPont Pioneer, and numerous agricultural cooperatives
- Insurance: Principal Financial Group, EMC Insurance, and other insurers
- Manufacturing: Rockwell Collins, Whirlpool, and Pella Corporation
- Healthcare: UnityPoint Health, MercyOne, and University of Iowa Hospitals
- Government: State of Iowa, federal agencies, and municipal governments
Career Outlook & Job Growth
The accounting profession in Iowa shows strong growth potential, with favorable employment projections and evolving opportunities in emerging specializations.
Employment Projections
According to the Iowa Workforce Information Network, the state’s accounting sector is experiencing robust growth:
- 10% job growth expected from 2018-2028 (faster than average)
- 1,290 annual openings due to growth, retirements, and turnover
- Low unemployment rate of 2.3% for accounting professionals
- High demand in Des Moines, Cedar Rapids, and Iowa City metros
Emerging Specializations
Iowa accountants can enhance their marketability by developing expertise in growing areas:
Career Advancement Timeline
Understanding typical career progression helps set realistic expectations:
- Years 0-2: Staff Accountant, Junior Auditor, Tax Associate
- Years 3-5: Senior Accountant, Audit Senior, Tax Senior
- Years 6-10: Manager, Senior Manager, Controller
- Years 10-15: Senior Manager, Director, Partner track
- Years 15+: Partner, CFO, Executive positions
Frequently Asked Questions
What’s the difference between a CPA and regular accountant in Iowa?
In Iowa, a regular accountant typically holds a bachelor’s degree and can perform most accounting functions for private companies. A CPA has met additional requirements including 150 credit hours of education, passed the Uniform CPA Exam, and completed supervised experience. CPAs can represent clients before the IRS, perform audits of public companies, and have broader practice rights.
How long does it take to become a CPA in Iowa?
The typical timeline is 5-6 years: four years for a bachelor’s degree, one additional year to reach 150 credit hours (often through a master’s program), plus 6-18 months to pass the CPA exam and complete the required one year of experience. Some candidates work while completing these requirements, which may extend the timeline.
Can I become an accountant in Iowa with an online degree?
Yes, Iowa accepts degrees from accredited online programs for both general accounting positions and CPA licensure. Ensure your online program is accredited by a recognized agency such as AACSB or ACBSP. Many Iowa students choose online accounting degrees for flexibility while working.
What’s the job market like for new accounting graduates in Iowa?
The job market is excellent for new graduates, with most finding positions within 3-6 months of graduation. Entry-level positions are plentiful, especially in Des Moines and Cedar Rapids. Starting salaries typically range from $48,000-$58,000, depending on location, firm size, and whether you have CPA exam progress.
Should I get my master’s degree before or after starting work?
Both paths have advantages. Getting your master’s degree immediately allows you to reach 150 credits faster and may lead to higher starting salaries. However, many firms offer tuition assistance, making it financially advantageous to work while pursuing your master’s part-time. Consider your financial situation and career goals when deciding.
Is the LPA license worth pursuing in Iowa?
The LPA license can be valuable if you need to practice public accounting quickly or don’t meet CPA education requirements yet. However, most employers prefer CPAs, and the LPA has limited practice rights. Consider it as a temporary credential while working toward your CPA rather than a long-term career choice.
Ready to start your accounting career in Iowa? Explore accredited accounting programs in Iowa to find the right educational path for your goals.
