Hey there! Are you curious about what’s happening in the world of accounting right now? Picture this: CPA firms are struggling to find talented accountants, and they’re raising starting salaries by a whopping 14%! That’s big news, especially if you’re thinking about a career in accounting or already working as a CPA. In this article, we’ll break it all down in super simple English. We’ll talk about why there’s a talent shortage, what CPA firms are doing about it, and how it affects you. Plus, we’ll share some easy tips to help you shine in this changing field. So, grab a cup of tea, and let’s dive into this exciting update from CFO Dive on May 1, 2025!
Why Is There a Talent Shortage in CPA Firms?
Let’s start with the big question: why are CPA firms facing a talent shortage? Well, a lot of accountants are retiring—about 75% of CPAs in public accounting are set to retire in the next few years. That’s a huge number! At the same time, fewer young people are choosing to become accountants. Back in 2019, there were around 1.78 million accountants in the U.S., but by 2024, that number dropped by 10%. That’s a big gap, and it’s getting harder to fill.
Younger folks aren’t jumping into accounting because it’s often seen as a tough job with long hours and lower pay compared to other fields like tech or banking. Plus, to become a CPA, you need 150 college credit hours—way more than a regular bachelor’s degree. Many students think, “Why go through all that when I can earn more in another job with less hassle?” Searches for “why is there a CPA shortage” are trending on Google with over 500,000 searches, showing how big this issue is!
CPA Firms Are Raising Salaries by 14% – What’s Happening?
Now, here’s the exciting part: CPA firms are fighting back by increasing starting salaries by 14%! According to CFO Dive, this hike is one of the biggest in recent years. Why? Because firms know they need to attract new talent and keep their current accountants happy. For example, big firms like EY have already started boosting salaries by 10% since late 2024, and they plan to raise them even more over the next few years.
This isn’t just happening at the big firms. Smaller CPA firms on Long Island are also increasing pay—around 8.9% for public accountants, 8.4% for tax roles, and 9.5% for audit jobs. That’s a lot of extra money! “CPA salary increase 2025” is a hot topic on Google with over 600,000 searches, and it’s easy to see why. If you’re a new accountant, you could start earning a lot more than before. And if you’re already a CPA, you might get a nice raise too!
How Are CPA Firms Solving the Talent Shortage?
Raising salaries is just one part of the plan. CPA firms are trying other ways to fix the talent shortage, and people are searching for “how to solve CPA shortage” (over 400,000 searches). Here’s what they’re doing:
- Hiring from Other Countries: Some firms are looking to India to hire talented accountants. Indian professionals are skilled, and many are eager to earn a CPA license to work in the U.S. This is helping firms fill gaps while bringing in fresh ideas.
- Using Technology: Firms are turning to AI and automation to handle some of the work. This helps reduce the pressure on accountants and lets them focus on bigger tasks. “AI in accounting 2025” is trending with over 300,000 searches!
- Changing Rules: Some states are making it easier to become a CPA. For example, Ohio is allowing people to become CPAs with less than 150 credit hours if they have work experience. Big firms like Deloitte and KPMG support this change because it means more people can join the field.
- Improving Work Culture: Firms are offering hybrid work schedules and focusing on reducing burnout. For example, KPMG is working hard to support employees so they don’t feel overwhelmed. “Accounting work culture 2025” has over 200,000 searches, showing how much people care about this.
What Does This Mean for You?
If you’re thinking about becoming a CPA, now is a great time! With salaries going up by 14%, you can earn more money right from the start. High-quality CPAs are in demand, and firms are willing to pay for talent. Searches for “CPA jobs 2025” are at 800,000, so there are plenty of opportunities out there.
If you’re already an accountant, this is good news too. You might get a raise, and firms are working to make your job easier with better technology and support. Plus, with fewer accountants around, your skills are more valuable than ever. But there’s a catch: the workload might increase because there aren’t enough people to share the work. So, it’s important to speak up if you’re feeling stressed.
5 Easy Tips to Stand Out as a CPA in 2025
Want to make the most of this opportunity? Here are some simple tips to help you shine in the accounting world. “How to become a successful CPA” is searched over 500,000 times, so these ideas are super helpful!
- Get Certified: If you don’t have a CPA license yet, go for it! It’s the first step to earning more and standing out.
- Learn New Skills: Try learning about AI or international finance. These skills make you more valuable to firms.
- Network with Firms: Connect with CPA firms at job fairs or online. Many are hiring from places like India, so show them you’re eager to learn.
- Focus on Work-Life Balance: Pick a firm that cares about your well-being. Look for ones with hybrid schedules or burnout support.
- Stay Updated: Keep an eye on trends like “CPA licensure changes 2025” (over 300,000 searches). Knowing the latest rules can give you an edge.
Let’s Wrap It Up!
The talent shortage in CPA firms is a big challenge, but it’s also a great opportunity for you. With starting salaries up by 14%, there’s never been a better time to jump into accounting or grow your career. Firms are working hard to solve the shortage by hiring globally, using tech, and improving work culture. At Style & Soul: Fashion That Feels Like You, we love sharing updates that help you succeed—whether it’s in fashion or your career!
What do you think about these changes? Are you excited about the salary hike? Drop a comment below, and let’s chat! Stay awesome, and keep shining in 2025! 🌟
