STAFFING & RECRUITING

How’s the job and hiring outlook?

We’ve been asking, you’ve been answering.

CPA Careers: The Outlook for Hiring Trends and New Job Opportunities — Join the survey; get the results.

One of the questions is: In your own words, how do you REALLY feel about business and employment conditions today?

The comments are rolling in. Here’s an early sampling…

  1. Things are slowing down in hiring at the entry levels but we are not hurting. Growth will continue and the need for CPAs will continue.
  2. It stinks. I’m employed in the real estate development industry and this recession (especially in the real estate sector) is far worse than the one in the 1990s. The sub-prime mortgage debacle and its effect on the economy almost caused the collapse of the US economy (need I mention “Bears Stearns”?). Frankly, I don’t think the financial and investing sectors could have done much worse if they were trying to cripple the US economy. As it happens, they have managed to damage enough of the economy to displace America’s dominant position in the world market. This in turn will prolong the recession and real (as opposed to government statistics) unemployment and underemployment will continue for a couple of years.
  3. Our office is still very busy so we have not seen a downturn, however, some of our clients in the construction industry have seen quite a reduction in income and have laid off employees. Our clients in the fast food industry, however, are doing better than last year. So, it depends on the occupation. Also, I have tried to keep the different services that we use so that they would not, at least from me, see a reduction in there income.
  4. not too bad
  5. It’s tough, very tough, all around.
  6. No slow down other that I can see other than slightly lower raises.

  7. Much better than 10 years ago.
  8. Business seems slow
  9. Not optimistic.
  10. seem to be getting bad, but I work for myself and do as much as I want
  11. In my industry, constant down sizing, and out sourcing based upon “silo” mentality of meeting budget/plan. If there are consequences it will be on someone else’s plate.
  12. hard to collect money and clients are having difficult times
  13. I have so many recruiters contacting me with opportunities I feel there must be a shortage of talent at my level. We also experience the shortage when trying to add quality personnel.
  14. In Ohio, business and employment conditions are not improving yet from big decreases in the past. Real estate market continues to suffer though it appears to have bottomed out.
  15. Although the economy has slowed I think the future is still good for American business.
  16. In public accounting, it is definitely an employees’ market for experienced professionals. Every firm seems to be understaffed and good staff is in high demand.
  17. They are horrible! I have been looking for an accounting job since June and I am lucky if there is 1 add a week to apply to.
  18. I think that the high gas prices will trickle down to every part of our lives since we depend so much on interstate commerce and travel. Somewhere expenses will have to be cut and it often might be in jobs or otherwise the prices will have to rise and we will face the inflationary pressures. I see some hard times ahead.
  19. Overall the economy is sluggish. There are bright spots of growth as rising energy costs and cheap dollar will bring opportunity for change and growth.
  20. much unemployment, accounting industry is still a demeand but now lesser qualified applicants are applying for accounting positions
  21. Even though people say that there is a demand for accountants, I have little confidence that there are enough openings out there to absorb the massive layoffs that will continue as our economy falls deeper into recession.
  22. Businesses overall seem to be more and more challenged to make the same level of profit. More and more work seems to be leaving the states. Although, I haven’t personally seen this in companies locally. Employment amongst finance/accounting positions seem to still be strong. However, lots of people in the area are struggling to find adequate work.
  23. Very competitive and decisions are made based only on the financial benefit it may bring and not on the overall morale of the personnel.
  24. Things may be slowing, but small businesses need CPA’s more than ever for help in weathering the storm.
  25. Many businesses are tightening their purse strings, but there is still hiring going on. Good candidates can always find jobs.
  26. Employment outlooks for public CPA’s must be at an all time high. We have been looking for qualified accountants for quite some time and it is extremely difficult to land someone.
  27. Economy is slowing, but finance / accounting jobs seem to be in relatively high demand.
  28. Uncertainty, especially in financial services industry
  29. For the first time in my career, I work in an industry subject to economic swings. It’s an adjustment. But personally, I left a stable, high paying job in an company with a toxic work environment. I’d much rather work for less money in a great environment for a company who’s success depends in part on the economy than to be miserable. So if the doors closed tomorrow, I’d just dust off the resume and go do something else. Sure it’d be painful financially, but I’m confident I could find a job quickly (i.e. within 3-6 months).
  30. Given the impending baby boomer retirements coupled with growth in business complexity, tax/sec laws, etc. I think there will be an increased demand for accountants, particularly those with at least one of the certifications, CPA, CMA, CIA and so on.
  31. public accounting industry is unstaffed
  32. never better for CPAs, particularly in my city & specialty niche.
  33. Not a good time.
  34. conditions are unsettling
  35. Business conditions are the worst since 2003.
  36. In the accounting profession today, it is a double edged sword. There are abundant amount of positions available since a CPA qualifies for a diversified number of industries and positions within those industries. The other edge of the sword is that the CPA is expected to be able to perform many different tasks that the challenge becomes finding the position that correlates to your talents.
  37. For accountants it appears the market is still good
  38. Slow but manageable
  39. Very Good
  40. Good.

Click here to join the survey; get the results.

6 Responses to “How’s the job and hiring outlook?”

  1. Joyce

    If things are getting better, why aren’t companies hiring more individuals with experience in public accounting for industry positions? I believe there is still a degree of uncertainty.

  2. Ohio Business

    It seems like things are starting to get a little bit better.

  3. Ed W, CPA

    Melissa makes a good point, and the PDF is interesting. If finance and accounting personnel are inordinately concerned with job security, might it be because they see – first-hand – what’s really going on in their companies? If we accountants are worried, everyone should be woried for this economy. When will we get some progressive leadership in this country? Just my two cents.

    Ed

  4. Melissa Waldon

    Interestingly, while the accounting industry hasn’t been directly affected by the downward economy, the perception among A&F professionals is quite the opposite.

    Each quarter, The Mergis Group, a professional placement firm, commissions a study to measure the overall confidence among U.S. accounting and finance workers. In Q2 of 2008, the survey reflected a continued decline in workers’ overall confidence as the result of on-going concerns about the economy and job market, despite continued growth in specific financial sectors such as accounting and tax regulation.

    http://www.mergisgroup.com/News/Accounting-Finance-Employment-Rpt-2Q08.pdf

  5. Chad Bordeaux

    Our office is still very busy too. Our firm is larger now than ever and is growing rapidly.

    In response to Paul’s comment above, clients will always be able to add the extra services that we recommend IF we are providing value to them. If isn’t any different in a down economy than a strong economy. If you help their business succeed they will say they can afford you. If you do not add value to their business, they will not.

  6. Paul J. Wiley, CPA

    I agree with the person who said “Our office is still very busy.” Our office is still very busy too. The question is about what happens next? Will clients be able to add the extra services that we’re recommending? Can we pass along the billing increases we need to because of rising costs for ourselves? How do we plan and budget for next year? I guess we’ll just “keep on keeping on” until at least the McCain-Obama presidential election when maybe we’ll get some clarity about the direction of tax and economic policy. Thanks for letting me vent here.