Accounting Degrees in New Mexico
Tourism, oil and gas production and government spending contribute heavily to New Mexico’s economy, employing a labor force of 934,200 and generating a per capita income of $35,079. With over 2 million residents populating the state, unemployment is slightly higher than the national average at just over 6%. The state’s gross domestic product, however, is close to $80 billion.
As New Mexico’s financial system continues to develop and grow, opportunities for accountants to work with the 383 licensed CPA firms in the state – including two of the “Big Four” international CPA firms (Deloitte & Touche and KPMG) – will continue to grow.
New Mexico at a glance
|Per Capita Income||$35,079|
|Fortune 500 Companies|
|Licensed CPA Firms||383|
Accounting Programs in New Mexico
Search our comprehensive school directory to explore the accounting programs in New Mexico, including campus-based, online and hybrid programs.
- Degree Levels
Accounting Salaries and Employment
Employment opportunities for accountants and auditors in New Mexico is projected to grow 9% over the span of ten years, resulting in 6,520 potential positions by 2022. While this growth rate is slower than the national average percent change, CPAs can look forward to earning between $34,790 and $113,970 on average annually – earning potential depending heavily on degree level, licensure and specialty.
Prospective employers include REDW, located in Albuquerque, which generated $26.45 million in revenue last year. Other top-paying cities for accountants in New Mexico are Santa Fe, Farmington and Las Cruces.
Projected Job Growth for Accountants
Accounting Salaries by Specialty
Associate Degree Recommended
Bookkeeping and Auditing Clerks
Bachelor's Degree Recommended
Tax Examiners and Collectors
Master's Degree Recommended
Accountants and Auditors
Personal Financial Advisors
Top-paying cities for accountants
- Albuquerque, NM$63,510
- Santa Fe, NM$58,460
- Farmington, NM$56,040
- Las Cruces, NM$55,960
Major firms headquartered in New Mexico
|Count||Firm||Location||2014 Revenue (in millions)|
Accounting Today named these firms among the highest performing in a multi-state region. Rankings as based upon reported net revenues from 2014. Source: Accounting today "Top 100 Firms"
Becoming a certified public accountant (CPA) in New Mexico
CPA candidates in New Mexico must sit for the Uniform CPA Exam administered via computer by the National Association of State Boards of Accountancy. Comprised of four sections that are taken individually, students must receive a passing score of 75 on each of these sections within 18 months of their initial test date.
Below is a list of schools ranked according to their CPA passing rates from 2014. Since the exam is complex in nature, many students have to take one or more sections more than once to earn a passing score. The pass rates by schools below include the scores of both first-timer testers and re-testers.
Eligibility for CPA Licensure in New Mexico
Eligibility for CPA licensure in New Mexico is contingent upon candidates meeting the following criteria:
- Complete the 150 hour educational requirement
- Hold a baccalaureate degree
- Participate in international programs
- Complete 30 hours in accounting, auditing and auditing related courses
- Complete 1 year of experience working in academia, government, industry or public practice
- Take and pass the AICPA Professional Ethics Exam for initial licensure
New Mexico recognizes the mobility provision, as well as grades/credit transfer and reciprocal licensure.
|Social Security # Requirement||Yes|
|Education Requirement for Licensure||150 hours (including bachelor's degree)|
|Participates in International Programs||Yes|
|Hours in Accounting||30 semester hours or equivalent quarter hours in accounting, auditing and auditing related courses.|
|Exam Sitting Requirements||B.A. (120 hours)|
|Experience Requirements||1 year experience in government, industry, academia or public practice.|
|Ethics Exam||Must pass AICPA Professional Ethics Exam for initial licensure|
The AICPA ethics exam is a self-study exam, must be passed with a score of 90% or higher and can be ordered from the New Mexico Society of CPAs (505) 246-1699.Source: The American Institute of CPAs
CPA exam fees in New Mexico
- Application Fee $160
- Auditing & Attestation $192
- Financial Accounting & Reporting $192
- Regulation $172
- Business Environment & Concepts $172
Special Fees: A registration fee applies in addition to the application fee, and is a flat rate of $85 no matter how many sections a student is registering for at one time.
Schools Ranked by CPA Pass Rates, 2014
|Rank||Logo||School Name||Candidates||Pass Rate||Average Score|
|1||Eastern New Mexico University||11||66.7%||74.4|
|2||New Mexico State University||80||50%||74.4|
|3||University of New Mexico||149||46.5%||71.8|
|4||Western New Mexico University||7||46.2%||67.7|
|5||New Mexico Highlands University||11||34.8%||64.3|
Schools are ranked by pass rate unless otherwise noted. Results are comprised of scores from both first-time test takers and those returning to take the whole exam or specific sections of it again. Source: National State Boards of Accountancy
Certifying and Professional Organizations
The New Mexico Public Accountancy Board issues licenses for CPAs and CPA firms to practice in the state of New Mexico. By setting professional and educational standards, the Board ensures a certain level of quality in financial services offered. The Board also investigates complaints, renews licenses, evaluates peer review reports from firms and applies disciplinary actions when necessary.
Before receiving a license from the Board, candidates must apply for and take the National Association of State Boards of Accountancy (NASBA) Uniform CPA Exam in New Mexico state via a computer-based format.
The New Mexico Society of CPAs provides current and future CPAs with a wealth of resources, including scholarships, professional links, peer reviews, job postings and continuing professional education.
New Mexico Public Accountancy Board
5200 Oakland NE Suite D
Albuquerque, NM 87113