How to Become a Comptroller

The terms "comptroller" and "controller" are often confused, and for good reason. City officials competing for city comptroller positions have mistakenly referred to the role as "controller." Derived from the 15th century, the word "comptroller" arrived in our shared lexicon after a spelling snafu of the term controller.

Today, financial controllers and comptrollers have similar duties. However, most comptrollers oversee the fiscal operations of government agencies, while controllers audit records of private institutions, like colleges and corporations. Comptrollers often perform financial audits of federal or city agencies. While both careers require accounting experience and a minimum of a bachelor's degree in a subject like auditing, comptroller careers involve managing budgets, financial reporting, and implementing financial policies and procedures within companies.

Want to pursue a comptroller career? Plan your career path using this guide that details how to become a comptroller, including the required degree, credentials, and work experience.

Steps to a Comptroller Career

Required Education for a Comptroller

A common first step to become a comptroller includes earning an undergraduate degree. Prospective comptrollers commonly take four years to complete bachelor's degrees in accounting or actuarial science. As an alternative, community colleges offer associate in accounting degrees, which can transfer toward four-year colleges.

Those who want to pursue CPA credentials may need to take state-specific coursework in business and accounting, including auditing, financial accounting and reporting, and taxation. Aspiring comptrollers can benefit from concentrations in auditing, government accounting, or public accounting. Employers may also favor candidates with a master's degree in accounting, business administration, or finance.

Required Experience for a Comptroller

Managerial experience can equip comptrollers with the necessary leadership skills for this role. Comptrollers often have prior experience as assistant comptrollers or accounting managers. A bachelor's degree or a graduate-level degree cannot replace the experience needed for this senior position.

Employers frequently seek candidates with 4-5 years of experience at government agencies or public accounting firms. They want people skilled at problem-solving and decision-making. To become comptrollers, candidates must have accounting knowledge in budgeting and forecasting, as well as experience in hands-on supervision and mentoring. Bachelor's and master's programs may provide the opportunity to gain experience and college credit through accounting internships.

Required Credentials for Comptrollers

Much like financial controllers, comptrollers do not need state licensure. The term "comptrollers," sometimes used interchangeably with "controllers," refers to senior-level financial executives who work at local, state, and federal agencies.

Most employers require these professionals to hold various credentials, such as CPA licensure. Employers, especially for more prestigious positions, look favorably on CPA-licensed comptrollers. States determine the educational and experience requirements needed to earn a CPA license. At a minimum, accountants need one year of work experience. Many states recognize the Uniform CPA Exam, which the American Institute of Certified Public Accountants (AICPA) administers and grades.

Because each state regulates the CPA license, you may begin the test after earning a bachelor's degree or need a master's degree. Check with your state for specific requirements. Maintaining a CPA license requires you to complete continuing education requirements every two years and pay a renewal fee.

Optional Certifications

As a comptroller, you can stay up to date by obtaining a higher degree and/or professional certifications. Engaging in professional development and continuing education allows you to demonstrate your dedication to accounting and ongoing learning. Employers frequently provide higher salaries as a reward to individuals with formal credentials.

You can pursue certifications at any stage in your career. People sometimes earn certifications right after college or as seasoned accountants. Each designation requires specific educational, experimental, and exam criteria. Most require completing an exam and paying a fee to receive the credential. To renew your designation, you may need to complete specific continuing education requirements set by the professional organization.

Possible credentials include the certified internal auditor designation available through the Institute of Internal Auditors or the chartered financial analyst certification administered by the CFA Institute. Additionally, you can become a certified management accountant through the Institute of Management Accountants.

Should I Become a Comptroller?

If you have a background in management and accounting, it can be advantageous to pursue a comptroller position. Many comptrollers have prior experience as accountants in the government and other public agencies. This position suits accountants with a mind for strategy and management. However, the position and responsibility it comes with may not appeal to everyone. The following list includes some pros and cons of being a comptroller:

The Job Hunt

Comptrollers can secure employment through various means. Career leads may come through alumni associations, personal connections, and job boards. Headhunters may also reach out to candidates via LinkedIn.

Professional accounting groups, including organizations like the Association of Latino Professionals in Finance and Accounting, the National Association of Black Accountants Inc., and the American Society of Women Accountants, also offer local and national events. Explore a few popular job boards for accountants below.

• American Institute of Certified Public Accountants: The AICPA features a global career hub for CPAs and senior financial professionals who can post their resumes and browse listings at no cost.
• Indeed.com: By creating an account with Indeed, you can upload your resume, apply for comptroller jobs, and allow employers to find you. The site also features more than 100,000 articles, including career guides for professionals at every stage in their careers.
• Institute of Management Accountants: IMA's Career Center features job listings across the globe, along with career podcasts and webinars. You can sign up for job alerts by making a free account.
• LinkedIn: Creating a LinkedIn account makes you visible to employers and enables you to network so you can help advance in your career. Your LinkedIn profile can also attract recruiters.

Get tips on job searching:

• How do you professionally network in accounting?
• Is it worth working with a recruiter?
• How do you write a resume?

Upward Mobility

A career as a comptroller can lead to other senior-level accounting positions. Comptrollers often pursue more lucrative careers as chief financial officers (CFOs), consultants, and chief executive officers (CEOs).

• Chief Executive Officer: At corporations and nonprofits, CEOs sit at the top of the executive hierarchy. Serving as the face of their companies, they lead all business operations and ensure that the organizations meet goals. CEOs often hold master's degrees in business administration and at least five years of prior leadership experience. According to July 2024 Payscale data, CEOs earn an average annual salary of $167,360.
• Chief Financial Officers: CFOs lead the entire financial operations at organizations. Their job includes financial reporting, investments, and monitoring all financial operations. Companies often require CFOs to hold master's degrees in business administration, finance, or a related field. Payscale data from July 2024 indicates that CFOs earn an average annual salary of $148,800.

Questions About the Comptroller Career Path