Tax & Accounting Industry Charts 4% Annual Growth Rate

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One big exception in the million-person workforce: Payroll agencies.

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By CPA Trendlines

Want to work 4.2 percent longer but make 8.2 percent less? No? Then you probably should avoid a payroll staff position, according to new CPA Trendlines research.

Women continue to make gains, even hitting double digits in one sector.

The tax and accounting industry’s latest gains mark the 41st month in a row of year-over-year employment expansion, the longest continuous growth streak since the 45-month period that ended October 2008 with the global banking collapse. Before that, the longest uninterrupted expansion lasted 93 months, ending September 2001 with the attacks of 9/11.

Magid
Magid

Among those firms expanding their rosters, they’re hiring at the five-person Magid Stroud Accountancy Corp., near San Francisco.

Magid Stroud principal Sandy Magid tells CPA Trendlines he’s “seeking qualified applicants, one a seasoned tax-oriented manager and the other a semi-senior.” Magid will even kick in a “contribution to your favorite charity if you refer someone whom we hire.”

Noeldner
Noeldner

He adds, “We emphasize a team approach to all projects, provide a lot of life-work balance, and provide individually based continuing education.”

They’re hiring in Grand Rapids, Mich. Administrative assistant Stephanie Noeldner tells CPA Trendlines that 15-person Baker Holtz is looking for new people. “I have a job that challenges me and I enjoy,” Noeldner says. “I love the people I work with and I work for an amazing company that appreciates their employees.”

Adams
Adams

And they’re hiring in Ridgeland, Miss. At 30-person Matthews Cutrer & Lindsay, audit manager Shannon Adams says, “I’ve been with my company since I graduated college. The top management at my company has been actively involved in helping me succeed in my goals and has given me the support I need. My firm appreciates its employees and values them and their families.”

In this report, CPA Trendlines highlights:

– Current hiring trends in each of the bookkeeping, payroll, tax, and CPA segments of the industry.

– Average hourly wages for key segments.

– Typical hours worked per week, and

– Trends concerning women in the accounting workforce.