Salaries offered to U.S. accountants and auditors last year climbed at their quickest pace in recent years, but that may not be enough to remedy a national shortage of accountants
. What’s more, industry groups and firms are courting college students and giving entry-level and more junior accountants more responsibility than ever before and providing new hires with flexible working arrangements.The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team.
“We were not keeping pace with what was happening with other professions and during the pandemic, certainly eyes were opened,” said Sue Coffey, chief executive of public accounting at the Association of International Certified Professional Accountants, a professional organization, referring to the tech industry and some pockets of finance with higher entry salaries.
The Center for Audit Quality, one of several professional organizations stepping up their outreach, last year launched an effort to increase awareness about accounting opportunities among high-school and college students. The talent pipeline shortage across the accounting profession is a multifaceted issue, said Liz Barentzen, vice president of operations and talent initiatives at the CAQ.
Ginnie Carlier, Ernst & Young’s head of talent, said EY values job candidates with an “adventure mind-set” in a post in February. EY said its entry-level compensation in audit and tax has increased, on average, by 23% since 2020. PricewaterhouseCoopers and Deloitte didn’t respond to requests for comment. Deloitte is a sponsor of CFO Journal.
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