CPA Trendlines

Go Figure: If There’s Really a Talent Shortage…

…then why aren’t starting salaries increasing?

“The current average salary offer to accounting majors—$47,429—is literally just a few dollars higher than the average these grads posted in Spring 2007—$47,421,” according to the annual survey by the National Association of Colleges and Employers.

Meanwhile, many other technical disciplines are seeing salary offers increase substantially. For example, the average offer to computer science graduates skyrocketed 14.7 percent to $59,873 this year. Also: construction science/management (13.4 percent, to $52,745); aerospace engineering (11.3 percent increase, to $57,999); and agricultural business and management (11.2 percent increase, to $42,299).

And hefty increases aren’t limited to the technical fields: “The average offer to psychology graduates rose 10.7 percent from $30,751 to $34,054,” says a spokesperson.

This, despite the fact that accounting firms are among the most voracious recruiters on campus this year.

So, what’s to blame? NACE’s best guess: “the effects of changes in the economy.” Now, that doesn’t sound good.

Kevin Ryan | Money Tips

Top 10 Tips For Surviving an Economic Downturn

Kevin Ryan, CPA
Partner
Citrin Cooperman
Philadelphia

Many Citrin Cooperman clients are noticing a growing concern among their customers, and consequently, are beginning to prepare for tougher times.

Our clients are asking us what they should be doing now to prepare for an economy that goes south. As CPAs, we’re always worried about volatility in the marketplace, so the advice we provide now is the advice we’ve provided to businesses all along. Look at 9/11. Many companies weren’t prepared when the economy sank then, and frankly, many companies didn’t make it.

There are steps owners of privately held businesses can take now to prepare for a sluggish economy. They include: READ MORE →