PAY & COMPENSATION

Staff Crave Advancement and Challenge

By

three coworkers looking at a tablet

Do your people know what it takes to get ahead?

By Marc Rosenberg
CPA Firm Staff: Managing Your #1 Asset

The CPA firm mergers and acquisitions company ProHorizons has surveyed thousands of staff on what they want most from their jobs. Here are excerpts from their survey results:

MORE: What Leadership Looks and Feels at CPA Firms | Eleven Things That Good Mentors Do | Give the Recognition Your Staff Needs | The Importance of Great Bosses | How Remote Work Is Impacting Accounting Firms | Make Work Flexibility Work for Everyone | Why Staff Leave CPA Firms … and How to Stop Them | How to Solve the Big Disconnect in Talent Management | What Relevance Means for Staffing in Accounting | How Accounting Staffing Has Changed
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

 

Opportunities for Growth and Development

One of the most common reasons people leave their jobs is because they don’t see potential for future growth. Staff want to be in a position where they are constantly growing and improving instead of just staying stagnant. The best CPA firms encourage that growth by providing opportunities for career and personal development.
READ MORE →

Salary Guides for Accountants Vary Widely: Whom Do You Believe?

By

three people in office disagreeing

Recruiters Atrium, LHH and Randstad don’t agree.

By CPA Trendlines Research

So, how much does, say, a tax manager pull down these days?

Well, it depends whom you ask.

MORE: Are You Earning What You Deserve? | The Slow, Painful Death of the 150-Hour Rule | Partner Comp Earnings Gap: What’s the Right Spread? | Main Street Accountants See Turbulence Ahead for Small Business | Partners: Your Middle Managers Are Getting Squeezed | The Joys of Firing Bad Clients | Gear Up For Growth | How Future-Proof Is the Accounting Profession? | Accounting Influencers | In-Person Conferences Still Essential | Accounting ARC | Risky Business: The Art and Science of Startup Company Valuation | Innovation through Wellness: You Can’t Grow without a “Well” Firm | Non-Accountants in Accounting: A Game-Changer for the Profession
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

 

The recruiting firm Atrium says the average tax manager takes home between $100,000 and $142,000.

But another recruiter, LHH, says the same person typically earns $158,750 to $172,850, depending on the size of the company.

Another firm, Randstad, gives tax managers an average of $104,424 to $170,767, depending on experience.
READ MORE →

When Staffing Falls Short, Clients Get Culled

By

man in suit exiting office building

Revenues are taking a hit.

By CPA Trendlines Research

Who ever thought it would come to this – accounting firms reducing their clientele?

It seems to be increasingly common, and the reasons are clear. It isn’t a desire to reduce revenues. It’s a desire to keep up with the workload without burning out.

MORE: How Accounting Firms Are Dealing with Retirement | Next Five Years Are Critical for Accounting Firms | Staffing Turnover’s Down, But Why? | What’s Your Firm Worth? Private Equity Wants to Know | The New Pipeline: Outsourcing and Offshoring | Is This the Last Year of Accounting’s Golden Age?
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

 

With fewer professionals entering the profession, and more of them leaving, more than half of practices are culling their less profitable or more problematic clients.

READ MORE →

What Leadership Looks and Feels at CPA Firms

By

three men seated at table in office and talking

Thirty ways that firms are developing staff into partners.

By Marc Rosenberg
CPA Firm Staff: Managing Your #1 Asset

“Before you are a leader, success is all about growing yourself. When you become a leader, success is all about growing others.” – Jack Welch

“Good employees make mistakes. Great leaders let them.” – Anonymous

We are probably the millionth people to form a list of important leadership qualities, but we want to share what we have learned from working with CPA firms for over 20 years.

MORE: Eleven Things That Good Mentors Do | Give the Recognition Your Staff Needs | The Importance of Great Bosses | How Remote Work Is Impacting Accounting Firms | Make Work Flexibility Work for Everyone | Why Staff Leave CPA Firms … and How to Stop Them | How to Solve the Big Disconnect in Talent Management | What Relevance Means for Staffing in Accounting | How Accounting Staffing Has Changed
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

 

Many of these traits are geared to partners and firm management, but many apply to staff as well. READ MORE →

Staff Turnover’s Down, But Why?

By

The aftermath of The Great Resignation leaves many questions.

By CPA Trendlines Research
Rosenberg National Survey of CPA Firm Statistics

As the pandemic wound down, there was a pretty big shakeup at CPA firms. Almost a fifth of employees left their firm. Some moved on to similar positions. Some got canned. And some ditched the whole profession in a search for satisfaction elsewhere.

MORE: What’s Your Firm Worth? Private Equity Wants to Know | The New Pipeline: Outsourcing and Offshoring | Is This the Last Year of Accounting’s Golden Age?
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

 

Charles Hylan – managing director of The Growth Partnership, which conducts the Rosenberg National Survey of CPA Firm Statistics – hazards a guess, based on his experience with CPA firms, that “a large number are leaving the profession altogether.” Among all firms surveyed, i.e., firms with over $2 million in billings, “a whopping 75 percent of staff turnover is voluntary.”

READ MORE →