A Certified Fraud Examiner (CFE), particularly one holding a Certified Public Accountant (CPA) designation, can earn an annual salary ranging from approximately $90,987 to $91,179, depending on the state and specific location.
Understanding CFE Earnings
The term CFE refers to a Certified Fraud Examiner. These professionals specialize in detecting, preventing, and investigating fraud. When combined with a Certified Public Accountant (CPA) license, the CFE designation signifies a highly skilled individual in financial forensics and accounting. The earnings for a CPA CFE can vary based on several factors, including:
- Geographic Location: Salaries can differ significantly from state to state due to variations in cost of living, demand for forensic accounting services, and local market conditions.
- Experience Level: Entry-level positions typically command lower salaries compared to experienced professionals or those in senior management roles.
- Industry and Employer: Salaries may vary between public accounting firms, corporations, government agencies, or consulting firms.
- Skills and Specializations: Additional certifications, specialized skills, or niche expertise can also influence earning potential.
State-Specific Salary Overview
Based on recent data, here's a look at average annual and hourly wages for CPA CFEs in select states:
| State | Annual Salary | Hourly Wage |
|---|---|---|
| California | $91,179 | $43.84 |
| North Dakota | $90,990 | $43.75 |
| New Jersey | $90,987 | $43.74 |
These figures represent a snapshot of earnings and highlight how salaries can be influenced by location. While California shows the highest average among these states, North Dakota and New Jersey are very close, indicating a competitive salary range for these specialized professionals across different regions.
Factors Influencing CFE Compensation
Several elements contribute to the compensation package of a Certified Fraud Examiner:
- Demand: The increasing complexity of financial crimes and regulatory scrutiny drives a consistent demand for CFEs.
- Expertise: CFEs possess a unique skill set that combines accounting, investigation, and legal knowledge, making them valuable assets to organizations.
- Continuing Education: Maintaining the CFE designation requires ongoing professional education, which ensures professionals stay updated with the latest fraud trends and investigation techniques.
