The Enrolled Agent is a federal tax credential, and it's the cheapest and fastest finance credential to earn. There's no experience requirement, just the three-part Special Enrollment Examination and a background check. Tax preparers start around $50,000. The median Enrolled Agent earns about $72,000, and EAs in the top decile, who mostly own a practice, make roughly $174,000.
Why practice owners earn the most
EAs prepare taxes and hold unlimited rights to represent taxpayers before the IRS. Those rights are what make the credential valuable, because they let you charge for resolution and representation work that a preparer without a credential can't offer. How much you earn depends less on who employs you than on whether you own the practice, and the top decile is mostly experienced EAs with a book of representation clients.
A common path runs tax preparer, then senior preparer or tax resolution specialist, then practice owner. Titles along the way include Senior Tax Preparer, Tax Resolution Specialist, IRS representation practitioner and Tax Practice Owner. Because the representation rights come with the credential itself, going independent is more within reach than in most fields, and that's where pay climbs.
Who it suits
If you want a career in tax, especially one heading toward your own practice or representation work, the EA costs little and gives you a lot of leverage. The exam fees are the only cost, since FreeFellow's banks for EA Part 1, Part 2 and Part 3 are free.
For broader accounting or audit work, the CPA is wider. EA vs CFP and CPA vs EA vs CMA cover the choice.