For accounting professionals building a career in tax, it can be difficult to decide what step to take next. Should you pursue further education or acquire a certification? If the latter, which one? Or are you better off just focusing on further work experience? There are many career paths one can take, but many are puzzled when it comes to deciding which credentials will offer the most in terms of professional growth and compensation.

A Master’s in Taxation is a good way to improve your skills, gain the ones needed to pass certification exams, and accrue further hours of experience in the field. However, when compared to the Enrolled Agent (EA) designation given by the IRS and the Certified Professional Accountant (CPA) certification provided by state, does an advanced degree measure up? And which certification is better?

At The Execu|Search Group, our Accounting/Finance recruitment professionals have been observing a strong uptick in demand over the last several months for tax professionals who have acquired their CPA. “Clients want to see that a candidate is committed to their career, and being certified shows employers that commitment because it’s the highest-level certification in the industry,” says Accounting/Finance Director Elisa Dammacco. “While being an Enrolled Agent or having your Master’s in Tax might suffice at your current firm, if you are looking to advance and increase your professional value, you need to obtain your CPA.”

Acquiring your CPA certification will allow you to enjoy a variety of benefits that you might not have had otherwise. For instance, accountants who hold one or more professional certifications (CMA, CPA, etc.) can earn 32% more over those who don’t, including professionals with a Master’s Degree as well as those with less schooling. Many high-level tax and accounting positions also require that the candidate acquire his or her CPA within a certain period of time from obtaining the position, and for those positions that don’t require it, having a CPA can be the deciding factor between you and an uncertified candidate.

Although as a CPA you will have the same tax-related freedoms and responsibilities as you do as an EA, a CPA will allow you to acquire a more well-rounded knowledge of the accounting industry, which not only presents you as a candidate who can approach your work with the big picture in mind, but also gives you greater flexibility for the future. Whereas an EA is strictly an expert on tax, a CPA can have a concentration in tax but must pass an exam consisting of four parts that address all corners of the accounting field. As a result, the CPA is considered the gold standard in accounting certifications, as it is one of the most difficult to achieve, and is therefore given the most consideration by hiring managers.