According to a study by Century Group, a recruiting firm in El Segundo, CA, CPAs with minimal experience (2 to 5 years) are benefiting from this shortage. Because of the laws of supply and demand, this imbalance is bumping up salaries at a double-digit rate! This is GREAT news for entry-level accountants still working towards their CPA designation. It appears that the shortage reaches all the way up to Manager and Director levels, and things should continue to project along this trajectory until *at least* 2010!
The study shows that the "middle of the pack" positions (senior accountants, senior auditors, assistant controllers) are benefiting most at this time, with raises averaging 10 to 15 percent. Keep in mind that top candidates are getting even higher percentage raises!
But, the most surprising element is WHY: CFOs want people working for them who are experienced with Sarbanes-Oxley compliance. The younger candidates have spent their entire careers (or, almost their entire careers) with SOX being part of their job description.
To read more about this interesting study, go directly to:
http://www.big4.com/newsletter/june2007/CPA-Shortages-Impact-Work-at-Senior-Levels.htm
- Comments welcome.
Mary Stewart McGovern
President
Stewart McGovern Enterprises
http://www.stewartmcgovern.com/
*****Check out Mary's new ebook, I've Graduated from College. Now What? Or, How to Go About Starting Your Career and Not Finding Just Another JOB. Now available for purchase on our website, http://www.stewartmcgovern.com//!
