CPA firm hiring tops 40,000 for first time ever.
By Rick Telberg
Bolstering reports of a suddenly surging profession with a high demand for top talent, a new survey of colleges and firms by the AICPA shows that CPA firms are hiring a record number of graduates.
At the same time, the pipeline of accounting students is bulging, suggesting to some that the continuing high demand for new recruits can be met by newly minted graduates for the next few years.
This will come as good news to firms facing growing new-business opportunities, tougher competition and a growing need for entry-level staff.
It does not, however, help alleviate the catastrophic stall in growth dating back to the 1990s with the spread of the so-called 150-hour rule that has left the profession with a gaping hole in its succession and business continuity strategies. The profession, already facing a succession crisis due to the aging-out of the Baby Boomers, now finds itself with a dearth of 40- and 50-something senior managers and junior partners to take over management and control – a fact that a record supply of new graduates won’t correct for 10 or 20 years, if ever.
The good news for hiring: Pipeline fills with huge supply of talent.
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