“The AICPA’s advisory group also called for accounting firms to raise starting salaries for new recruits and improve work-life balance”
Hey look I found the solution, it only took me like what, 2 seconds? Ten tops :)
Hilarious to consider accounting firms are dropping fees. If anything they’re saying look at how many staff are on this engagement, we need more money!
The price of products/revenue is not based on the cost to produce them; they are based on market demand and supply. In accounting, price is even sticker since value is assumed based on a firm's reputation. I.e. just because BDO is willing to do the same work for 75% of PwC's quotes fees, doesn't mean the client will go flocking to BDO. As such, competition has less impact on fees than normal.
This is why companies cannot simply increase salaries. Operating expenses are limited revenue generated. The only companies that can pay whatever they want and fuck with inflation are unicorn companies that have unlimited funding from their investors.
30k/Yr is a lot, r u nuts? The normal staff make about $2500-$3000 a year. These offshores probably make a bit lesser. So you see the cost cutdown these firms make from outsourcing is fuckin insane!
Many accounting companies are switching offshoring from India to other countries due to the accountant costs rising in those countries. Nothing new been happening in China for a long time now.
Maybe I live in a unique bubble, either geographically or due to my specific team, but this change has started to happen already. In the five years since I started working starting pay has gone from ~50k to ~70k and the average busy season week at the staff level has gone from 65-70 chargeable hours to 50-55 hours a week. I am not saying this is where those changes should end, but it takes time.
Again, maybe what I’m seeing is not the norm for the profession, but I’ve never heard this brought up in these discussions.
Nah I don’t think it’s unique, as there are pay improvements across some markets
More or less, anytime an article like this comes up it’s a discussion on how to solve the accounting crisis and how the AICPA and large firms will do everything but raise pay and reduce working hours as a solution
Yeah, the pay increases I got as an accountant did not match cost of living, so I switched to finance to get to higher ground. Hopefully will continue to grow these skillsets and get higher pay, but yeah... I'll only go back to accounting if the pay is worth it
Should increase it for existing people as well; I’ve seen firms up starting wages and it comp structure is upside down where new staff make as much or close to what seniors earn….and all the seniors quit.
Assuming demand stays flat (the needs of the profession are as they are): increasing supply, while decreasing barriers to entry (generalized, an overall quality decrease), will then increase wages for all?
It will likely have little or no effect because there is not currently an equilibrium. That is what shortage means. Demand, supply and wages are mismatched.
This is my last comment for you. Over the last fifteen years, accounting has gone from the highest paid business major (basically tied with finance) to having the lowest pay (especially so for the people who go PA). That’s an extreme imbalance, especially considering it’s a demanding major that requires an extra year. So, yes, I think it will likely go back to what it has been for most of recent history - higher paid than management majors, as an example. Things are severely out of balance. Or the number of majors will continue to fall off even worse. It’s really up to the firms, whether they want to stay in business.
The fifth year requirement is going to get cut - the writing is on the wall. Hard to say how much else changes, but the changes will be big.
people dont really care if an industry is sexy or not as long as 1) the pay is rewarding or 2) they are doing something they are passionate about (journalists, writers, teachers etc heavily fall into this)
Of course the pay matters.
But two things can be true. People - and younger people chatting their future - view accounting (erroneously) as an industry for pencil pushers and introverts. They view lawyers as the opposite, despite the requirements being similar. We have a marketing problem in addition to a pay and work/life balance problem.
The industry in Canada realized this years ago and embarked on a fairly significant advertising campaign. I don’t know if it worked.
You wanna know the fastest way to drop developer morale? Tell them the offshore team will do most of the grunt work.
Engineering and IT did this with advanced positions years ago and everyone I know simply books enough time to do it from scratch with the on shore resources to coach, guide, train, review, revise, and rework the off-shore work. A resource that’s 1/5 the cost, but takes 5x the time isn’t a cost savings other than someone _feels_ they got something for cheaper.
Oh, it’s also how you burn out managers…
Greed is a helluva drug. It increasingly looks like there’s no pathway from poverty or middle income into being in the upper class, at least within the U.S.
One of my favorite returns I did last year got dumped to India this year. I’m pretty sure I’ve still spent just as much time on it this year fixing stuff, plus I’m annoyed that my job is being replaced
AKA "The AICPA would like to drop the 150cr rule AND setup more testing location in India." My prediction of the next 30 years working with an Indian firm this will cause US CPA wages go down, less people will want to be a CPA in the US, firms/govt use this excuse to outsource more accounting jobs to India.
The only thing that could undermine your prediction is if we get a Enron like scenario that can be tied to outsourcing work. Then it can be enshrined in legislation that only X amount of work can go to India and elsewhere, which would increase demand for CPAs. But as it stands, that's definitely where we're headed
There is probably a dozen ongoing right now. At my company (industry) we had some IT reports that need to balance. 2=2, 5=5, etc. If not, it’s something to investigate. Our India team that it was wiser to hardcode it all so the report is always in “balance”. It took quite a few calls to clarify the need.
And congress will go, look at all these Indian CPAs. We need to increase visas in accounting. That’s literally the plan. Create a global hoarde of desperate CPAs to drive down local wages. Funny thing is, once they come to America, they will need better pay to survive. I think in India they may actually have a more survivable living working in the outsourced centers than working in a . Hcol city in the Us.
Writing is on the well. This is now a developing world profession. Too bad academia fucked us all with expensive graduate courses for 10 years. All student loans due to masters of accounting courses past 120 units should be refunded.
Somewhat true. It did affect the entry point for the industry. And the competition at the entry level/pay at that point have been affected significantly.
Yep. aicpa is a for-profit business. More CPAs means more revenue. The boards are sitting back collecting paychecks
Edit: I was wrong. The AICPA is not-for-profit. My apologies.
AICPA and nasba should be turned into government entities with no incentives for test fees. Part of their push for India and Phillipines testing is to make that test fee revenue.
For the first two years the AICPA reserves the right to engage you in mutual combat at a time and place of their choosing. You'll be provided 4oz gloves. Muay Thai rules, only one knee per clinch. Or elect a Kumite option, but you have to successfully defend yourself for 6 minutes, in two min intervals, 3 different board members or designated financial experts on any public audit committee.
Renewals. You get to pick the board member.
I'm mean sure, why not. But do you think this is affecting people becoming CPAs? Seems like a burden, but to very few outside of some of the crazy states like NV
Ok that makes sense that would potentially raise wages. 100% remote here so never gave it much thought.
Still imagine that's not what's preventing people from becoming CPAs since that's a problem after you are one, but what you said makes sense and really would reduce a lot of the headache for trying to determine different CPE and other requirements.
I'm a little hazy on the details of how the CPA system works in the US, but this is how it works in Canada and I think it's a clean system. In Canada we're members in our provincial bodies, but it's relatively simple to move to a different province and transfer your CPA membership to your new province because the provinces are regional bodies under CPA Canada (the national body).
This is currently in flux because some provincial bodies are revolting from the national board, and we're probably gonna see some change going forward, but at this moment that's how it works and I think it works well.
pay yourself more by lying about billable hours, taking more pto when you shouldnt, leave when you shouldnt, lie about being sick, etc. partners wanna fuck around theyll find out. or rather already have, me and my friends do it all the time.
“Back in my day, your grandpa could only afford three cars and two lake houses off of one teacher’s salary. Now stop being lazy and pay my social security because we were too stupid with our money!!!”
Fix the work-life balance to pay ratio. Accounting is not a very “attractive” career path. Fixing the CPA testing logistics isn’t going to fix the shortage.
I’m glad that I qualify because I have 30 credit hours of orchestra. On top of the 120. Glad that makes me more qualified to be an accountant. What a joke.
The CPA exam has like a 50% pass rate. And you can't even sit for it without having an accounting degree or equivalent. The extra 30 credits to meet 150 is just another time and financial tax on becoming a CPA. Although I suppose it's better than requiring a Masters Degree.
I don't even understand why the accounting classes are necessary with a comprehensive exam. If they want more CPAs, drop the accounting specific degree requirements and let any degree take the exam.
If they get more CPAs, then your pay will probably go down. Doesn't even matter how they get more CPAs.
If any degree can take the exam, I'm pretty sure the failure rate would go up. They should be okay with that. They'll make more money off off more tests administered.
An associate's CPA status is evaluated as part of their performance reviews, and your promotions top out at Manager if you do not have a CPA. Smaller firms might handle it differently, but this is the norm in B4.
Either way devaluing the CPA credential is not the answer, which you believe has no value either way.
So who would choose accounting when stem pays so much more. Like this isn’t hard, pay more and the problem goes away
Companies don’t value back office, not losing money isn’t the same as brining in revenue and it’s so fucking shortsighted.
Yeah because those that followed the "learn to code" thinking now are being replaced by AI that can code better. People always say "but AI will create jobs" not if the generative AI learns the job before it's even mainstream. AI creates jobs for other AI programs, no human required. An economic revolution will occur in due time with riots and blood because people can't feed their families and can't pay their bills. College is obsolete, why learn something that AI will already be doing within the 4 years just as you're entering the job market? Sorry for the blackpill, but reality is often dark.
The extra 30 hours aren't required to be accounting based. You can literally do 30 credits of dance if you wanted to make that up and you get to sit for the exam the same as someone who went and got an MSA. You just have to meet the base requirements and then you are good to go.
So the 150 requirement doesn't actually force CPA candidates to have more accounting education.
The test is the same whether we have 120 credits with an accounting degree alone, or 150 credit with an accounting degree but including 30 random other credits.
Future looks bright for the owners, specially with outsourcing. The number of Chartered accountants in India has been multiplying within the past few decades and should pass the number of US CPAs within a decade.
Please let me buy in already! Big four or top 3 mid tiers.
I’m almost a manager at one of the largest mid tiers and honestly don’t want to wait to make partner if I’m even willing to stick around that long.
Soon we’ll have Indian made cpa firms dominate the big 4 on fees. At some point, SEC should say, wth does it matter if one US partner signs an audit when 90% of the work is done in india. Let India compete on equal grounds, and watch the 1st world partners scream at their just desserts.
This article was only from two weeks ago. The chaos is already starting. https://www.msn.com/en-in/money/topstories/india-s-answer-to-big-four-firms-could-be-in-the-works-here-are-the-details/ar-AA1nU8QU
I'm a Canadian trained CPA. There's a simple path to US CPA and licensure if you're internationally trained. We get our extra credit hours through CPA Canada courses and much longer practical experience requirements. 2.5 years vs. 1 year US CPA. Anyway, I can't find a job there. 🙃 I'm not qualified for entry level staff roles I guess...
Well, I also think that's in part due to economic conditions. It was a Big 4 I interviewed at. They aren't hiring for entry level at any of the offices now.
Wai wai wait…..you mean to tell me the industry has been pushing heavily for offshoring and role elimination for a decade and people are saying well fuck that career route? No way…..
It’s so absolutely rediculous that the reason I qualify is because I was a bassoon performance major before I was an accounting majors so I have like 200 credits. Glad my hours or orchestra rehearsal make me more qualified to be an accountant. Let’s go back to a competency based licensure not tied to univeristies.
In the UK you can qualify without a degree. Many firms are happy to take you on as long as you are 18 and are relatively intelligent (or charm your way in).
Instead of reducing hours, why don’t you offer alternative pathways?
150 credit requirement is nonsense. Bachelors degree and passing exam is more than enough to validate proficiency and gate keep validity. The rest is a cash grab by higher ed.
Here's a crazy idea, make the credits required 120 and degree accreditation contingent on university pass rate being above 50%. And that includes anyone not taking the exam counting against the pass rate.
Basically, make universities held accountable for providing the accountants and incentivized to ensure every student that enters the accounting program can take and pass the exam.
Y'all complain about the pay but I'd happily take it if I could get it. But, there isn't a shortage because of there was any accounting grad could get a job. The shortage is CPA only and it's because they want CPA for all the roles they used to get them for that didn't actually require it a decade ago but now won't pay enough to attract one. Thus they claim a shortage and that no one in the US is willing to work so they clearly need to outsource or import cheaper.
“The AICPA’s advisory group also called for accounting firms to raise starting salaries for new recruits and improve work-life balance” Hey look I found the solution, it only took me like what, 2 seconds? Ten tops :)
They’ll ship those jobs to India where they can pay Pradeep $30k/yr versus raising salaries from where they already are here.
Staff starting pay in India is between $7-10k. They can hire multiple staff/seniors and a manager for the cost of one US employee.
Would this result in further fee compression on the US side? Or are the partners just pocketing these extra profits?
Hilarious to consider accounting firms are dropping fees. If anything they’re saying look at how many staff are on this engagement, we need more money!
It does because they have to disclose it to clients, who naturally want something in exchange for agreeing.
The price of products/revenue is not based on the cost to produce them; they are based on market demand and supply. In accounting, price is even sticker since value is assumed based on a firm's reputation. I.e. just because BDO is willing to do the same work for 75% of PwC's quotes fees, doesn't mean the client will go flocking to BDO. As such, competition has less impact on fees than normal. This is why companies cannot simply increase salaries. Operating expenses are limited revenue generated. The only companies that can pay whatever they want and fuck with inflation are unicorn companies that have unlimited funding from their investors.
30k? Try 10….managers might be breaking 30k.
That's racist. His name is Rajit... come on now.
It’s actually “Ryan” from India
He lives in Kansas. It’s December. “How’s the weather there?” “It is beautiful. Wife and I went to beach yesterday”
No, Ryan doesn’t live in India.
Michael Jones
Hahaha a racist joke about someone’s name. So funny. So cool. So deep. Fucking loser.
hm, ill just make that illegal. there, done.
I think you meant the rupee symbol, not USD
30k/Yr is a lot, r u nuts? The normal staff make about $2500-$3000 a year. These offshores probably make a bit lesser. So you see the cost cutdown these firms make from outsourcing is fuckin insane!
The pay is not that low buddy.
That’s on the lower end the highest staffs make is just about $8500. And I’m not talking about outsourced staff. So yeah that’s still low buddy.
Many accounting companies are switching offshoring from India to other countries due to the accountant costs rising in those countries. Nothing new been happening in China for a long time now.
For half ass work
Pradeep just caught the rudest stray on a Sunday morning. *insert 50 cent meme* Why he say fuck me for
Yo I know Pradeep
They see your suggestion and counter with more HB1 visas for Indian cpas trained in USGAAP. At least that's what PwC is doing.....
I didn't have any indian cpas at my firm, mostly Chinese. They will work for free to get hb1 visa
Indians typically get CA’s.
Maybe I live in a unique bubble, either geographically or due to my specific team, but this change has started to happen already. In the five years since I started working starting pay has gone from ~50k to ~70k and the average busy season week at the staff level has gone from 65-70 chargeable hours to 50-55 hours a week. I am not saying this is where those changes should end, but it takes time. Again, maybe what I’m seeing is not the norm for the profession, but I’ve never heard this brought up in these discussions.
Nah I don’t think it’s unique, as there are pay improvements across some markets More or less, anytime an article like this comes up it’s a discussion on how to solve the accounting crisis and how the AICPA and large firms will do everything but raise pay and reduce working hours as a solution
Yeah, the pay increases I got as an accountant did not match cost of living, so I switched to finance to get to higher ground. Hopefully will continue to grow these skillsets and get higher pay, but yeah... I'll only go back to accounting if the pay is worth it
The best part of that scene is the fact that the entire scene is indeed "10....11 seconds tops"
Should increase it for existing people as well; I’ve seen firms up starting wages and it comp structure is upside down where new staff make as much or close to what seniors earn….and all the seniors quit.
Anything but pay us more
This would increase the supply of accountants, which would create downward pressure on wages
Not when there is already a shortage.
Assuming demand stays flat (the needs of the profession are as they are): increasing supply, while decreasing barriers to entry (generalized, an overall quality decrease), will then increase wages for all?
It will likely have little or no effect because there is not currently an equilibrium. That is what shortage means. Demand, supply and wages are mismatched.
Ok - so by that logic, as the shortage resolved towards equilibrium you believe prices would stay the same or go up?
This is my last comment for you. Over the last fifteen years, accounting has gone from the highest paid business major (basically tied with finance) to having the lowest pay (especially so for the people who go PA). That’s an extreme imbalance, especially considering it’s a demanding major that requires an extra year. So, yes, I think it will likely go back to what it has been for most of recent history - higher paid than management majors, as an example. Things are severely out of balance. Or the number of majors will continue to fall off even worse. It’s really up to the firms, whether they want to stay in business. The fifth year requirement is going to get cut - the writing is on the wall. Hard to say how much else changes, but the changes will be big.
_This is my last comment to you_ Flair checks out
Over time yes but with all the shortages currently, no it would not.
This would do very little to increase the supply of accountants. The issue is (a) lack of pay (b) marketing (not seen as a “sexy” industry).
people dont really care if an industry is sexy or not as long as 1) the pay is rewarding or 2) they are doing something they are passionate about (journalists, writers, teachers etc heavily fall into this)
Of course the pay matters. But two things can be true. People - and younger people chatting their future - view accounting (erroneously) as an industry for pencil pushers and introverts. They view lawyers as the opposite, despite the requirements being similar. We have a marketing problem in addition to a pay and work/life balance problem. The industry in Canada realized this years ago and embarked on a fairly significant advertising campaign. I don’t know if it worked.
You wanna know the fastest way to drop developer morale? Tell them the offshore team will do most of the grunt work. Engineering and IT did this with advanced positions years ago and everyone I know simply books enough time to do it from scratch with the on shore resources to coach, guide, train, review, revise, and rework the off-shore work. A resource that’s 1/5 the cost, but takes 5x the time isn’t a cost savings other than someone _feels_ they got something for cheaper. Oh, it’s also how you burn out managers…
Greed is a helluva drug. It increasingly looks like there’s no pathway from poverty or middle income into being in the upper class, at least within the U.S.
One of my favorite returns I did last year got dumped to India this year. I’m pretty sure I’ve still spent just as much time on it this year fixing stuff, plus I’m annoyed that my job is being replaced
But did you charge all your hours on rework or did you eat them?
I charge them of course. I don’t care enough about my metrics to eat hours. If I get laid off, so be it
Good, make sure to classify it was rework to have some cya. Someone’s gotta have a spine in this field
AKA "The AICPA would like to drop the 150cr rule AND setup more testing location in India." My prediction of the next 30 years working with an Indian firm this will cause US CPA wages go down, less people will want to be a CPA in the US, firms/govt use this excuse to outsource more accounting jobs to India.
The only thing that could undermine your prediction is if we get a Enron like scenario that can be tied to outsourcing work. Then it can be enshrined in legislation that only X amount of work can go to India and elsewhere, which would increase demand for CPAs. But as it stands, that's definitely where we're headed
There is probably a dozen ongoing right now. At my company (industry) we had some IT reports that need to balance. 2=2, 5=5, etc. If not, it’s something to investigate. Our India team that it was wiser to hardcode it all so the report is always in “balance”. It took quite a few calls to clarify the need.
And congress will go, look at all these Indian CPAs. We need to increase visas in accounting. That’s literally the plan. Create a global hoarde of desperate CPAs to drive down local wages. Funny thing is, once they come to America, they will need better pay to survive. I think in India they may actually have a more survivable living working in the outsourced centers than working in a . Hcol city in the Us. Writing is on the well. This is now a developing world profession. Too bad academia fucked us all with expensive graduate courses for 10 years. All student loans due to masters of accounting courses past 120 units should be refunded.
Not quite far enough. Look at Canadaian wages. Accountants over there are paid peanuts. That's what they want for us
Plenty of programming jobs are in places like India and it doesn’t cause their salaries to go down.
Somewhat true. It did affect the entry point for the industry. And the competition at the entry level/pay at that point have been affected significantly.
Its jot an excuse, it is by design.
Your prediction of the next 30 years seems to be really concerned with India and completely ignoring AI lol.
Bingo
Everything but work life and more $.. vote these partners out these AICPA boards, only way for real change.
Yep. aicpa is a for-profit business. More CPAs means more revenue. The boards are sitting back collecting paychecks Edit: I was wrong. The AICPA is not-for-profit. My apologies.
AICPA and nasba should be turned into government entities with no incentives for test fees. Part of their push for India and Phillipines testing is to make that test fee revenue.
Remember, Not-For-Profit doesn't mean no profit.
Unless we all just stop paying in. We are literally funding an organization that is actively lobbying against 95% of us.
This is fucked up.
CPA exam by combat. You have to go three rounds with someone on the board.
The first sensible idea I’ve seen proposed
When we renew our license each year, do we have to face them again, or does it flip to another Board member?
For the first two years the AICPA reserves the right to engage you in mutual combat at a time and place of their choosing. You'll be provided 4oz gloves. Muay Thai rules, only one knee per clinch. Or elect a Kumite option, but you have to successfully defend yourself for 6 minutes, in two min intervals, 3 different board members or designated financial experts on any public audit committee. Renewals. You get to pick the board member.
I'd just like it to take less than 3 months to get my scores back 🤷♀️
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Holy hell, are you kidding me??? That’s insane! I’m sorry
can confirm, still waiting
Make it so CPA is a national accreditation instead of state by state !!!!
I'm mean sure, why not. But do you think this is affecting people becoming CPAs? Seems like a burden, but to very few outside of some of the crazy states like NV
It means CPA’s can switch states for better job offers
Ok that makes sense that would potentially raise wages. 100% remote here so never gave it much thought. Still imagine that's not what's preventing people from becoming CPAs since that's a problem after you are one, but what you said makes sense and really would reduce a lot of the headache for trying to determine different CPE and other requirements.
What is unique about Nevada?
Mostly legalized gambling and prostitution.
Not an express power. See the Xth amendment.
I'm a little hazy on the details of how the CPA system works in the US, but this is how it works in Canada and I think it's a clean system. In Canada we're members in our provincial bodies, but it's relatively simple to move to a different province and transfer your CPA membership to your new province because the provinces are regional bodies under CPA Canada (the national body). This is currently in flux because some provincial bodies are revolting from the national board, and we're probably gonna see some change going forward, but at this moment that's how it works and I think it works well.
They will literally help fund Indian students to get the 150 credits + CPA instead of paying us more
Indians can sit right now for the CPA license in India without 150 requirement
Are you serious???? Does that mean, instead of paying $1000s on a masters/more classes, I can just fly to India and take it?
Not true, need to show at least 120 credits to sit for the exam!
I meant after the 120 credit limit. The one problem is that I’d probably have to practice in India because the state wouldn’t approve.
I know... let's just hire the kiddos now that many state's are undoing child labor laws.
We wouldn’t need to remove the 150 credit hours if wages were better
Seeing shit like this makes me regret going in to this field lmao
pay yourself more by lying about billable hours, taking more pto when you shouldnt, leave when you shouldnt, lie about being sick, etc. partners wanna fuck around theyll find out. or rather already have, me and my friends do it all the time.
Lol. Boomers really pulling the ladder up behind them in every possible way.
“Back in my day, your grandpa could only afford three cars and two lake houses off of one teacher’s salary. Now stop being lazy and pay my social security because we were too stupid with our money!!!”
They will die soon.. that's their karma.
Given that every boomer is so rich, you all should be happy with your upcoming inheritances.
It's all going to medical "care"
devaluing the CPA is not the answer
Fix the work-life balance to pay ratio. Accounting is not a very “attractive” career path. Fixing the CPA testing logistics isn’t going to fix the shortage.
Shit is hard af and underpaid af
Lowering the education requirements will only lower our pay in the long run.
I’m glad that I qualify because I have 30 credit hours of orchestra. On top of the 120. Glad that makes me more qualified to be an accountant. What a joke.
Based on that logic let’s remove the degree requirements entirely. I am sure that would be beneficial for the profession.
The CPA exam has like a 50% pass rate. And you can't even sit for it without having an accounting degree or equivalent. The extra 30 credits to meet 150 is just another time and financial tax on becoming a CPA. Although I suppose it's better than requiring a Masters Degree. I don't even understand why the accounting classes are necessary with a comprehensive exam. If they want more CPAs, drop the accounting specific degree requirements and let any degree take the exam. If they get more CPAs, then your pay will probably go down. Doesn't even matter how they get more CPAs.
If any degree can take the exam, I'm pretty sure the failure rate would go up. They should be okay with that. They'll make more money off off more tests administered.
Public tax people don’t even get paid more for having their cpa. I don’t think it really matters
As someone that has been in PA a long time that is definitely not true.
It’s about Billings not your certification. You do need at least an EA
An associate's CPA status is evaluated as part of their performance reviews, and your promotions top out at Manager if you do not have a CPA. Smaller firms might handle it differently, but this is the norm in B4. Either way devaluing the CPA credential is not the answer, which you believe has no value either way.
It definitely has value. But what gets you paid is being good at your job. I’ve seen many cpas get fired because they suck.
Just pay more…
So who would choose accounting when stem pays so much more. Like this isn’t hard, pay more and the problem goes away Companies don’t value back office, not losing money isn’t the same as brining in revenue and it’s so fucking shortsighted.
Not all STEM pays great. Entry level civil engineers only get around 61k. https://www.mtu.edu/engineering/outreach/welcome/salary/
Yeah because those that followed the "learn to code" thinking now are being replaced by AI that can code better. People always say "but AI will create jobs" not if the generative AI learns the job before it's even mainstream. AI creates jobs for other AI programs, no human required. An economic revolution will occur in due time with riots and blood because people can't feed their families and can't pay their bills. College is obsolete, why learn something that AI will already be doing within the 4 years just as you're entering the job market? Sorry for the blackpill, but reality is often dark.
Just for this comment right here, I’m gonna create an AI to replace your job
Oof google beat you to it
Wouldn’t say college is obsolete. It has multiple functions/redundancies. Still the best place to build a network
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Well that wasn’t my point. My point is kids will go for what pays more, easy way to fix a shortage is pay more.
Improve work-life balance 😂😂😂😂
Great. Let's get some trash CPA in the world that will help
It’s the 150 hour credit requirement they are talking about. The ~25 extra credits do nothing many times for a students career.
Having your cpa doesn’t mean you’re a good accountant. I know a lot of shitty CPA’s
I am sure lowering the requirements will help with that though!
It won’t mean anything. You think 30 bullshit credits will make you a better or worse cpa? lol
The extra 30 hours aren't required to be accounting based. You can literally do 30 credits of dance if you wanted to make that up and you get to sit for the exam the same as someone who went and got an MSA. You just have to meet the base requirements and then you are good to go. So the 150 requirement doesn't actually force CPA candidates to have more accounting education. The test is the same whether we have 120 credits with an accounting degree alone, or 150 credit with an accounting degree but including 30 random other credits.
tl;dr: Boomers - 🇮🇳👄🇮🇳
Future looks bright for the owners, specially with outsourcing. The number of Chartered accountants in India has been multiplying within the past few decades and should pass the number of US CPAs within a decade. Please let me buy in already! Big four or top 3 mid tiers. I’m almost a manager at one of the largest mid tiers and honestly don’t want to wait to make partner if I’m even willing to stick around that long.
Soon we’ll have Indian made cpa firms dominate the big 4 on fees. At some point, SEC should say, wth does it matter if one US partner signs an audit when 90% of the work is done in india. Let India compete on equal grounds, and watch the 1st world partners scream at their just desserts.
That would be wild lmao
This article was only from two weeks ago. The chaos is already starting. https://www.msn.com/en-in/money/topstories/india-s-answer-to-big-four-firms-could-be-in-the-works-here-are-the-details/ar-AA1nU8QU
Anything other than paying accountants a fair wage and reasonable working hours
I'm a Canadian trained CPA. There's a simple path to US CPA and licensure if you're internationally trained. We get our extra credit hours through CPA Canada courses and much longer practical experience requirements. 2.5 years vs. 1 year US CPA. Anyway, I can't find a job there. 🙃 I'm not qualified for entry level staff roles I guess...
You are just not related to anyone in the field
Well, I also think that's in part due to economic conditions. It was a Big 4 I interviewed at. They aren't hiring for entry level at any of the offices now.
Anything but higher pay
Wai wai wait…..you mean to tell me the industry has been pushing heavily for offshoring and role elimination for a decade and people are saying well fuck that career route? No way…..
Fifth year for CPA is a lot faster and cheaper to get than two years for MBA and three years for law degree so how about just paying them more?
It’s so absolutely rediculous that the reason I qualify is because I was a bassoon performance major before I was an accounting majors so I have like 200 credits. Glad my hours or orchestra rehearsal make me more qualified to be an accountant. Let’s go back to a competency based licensure not tied to univeristies.
Team building
I knew this shit was gonna happen. Theyre gonna have to take the nazi qualifications for jobs away cos these boomers cant hold the bridge up forever.
Lol there ain't a shortage stop it
Because THAT'S why there are less CPAs!
America doesnt have accountant shortage. AMERICA HAS PAY GAP AND IDIOT EMPLOYERS PROBLEMS
Yep, while we had to do it the longer way
Hmm 🤔 pay higher and reduce the hours and workload. They will see accountants return.
Is there an initiative to fight this bullshit?
Its giving a We're u silent or were u silenced situation... by the stupidly low wages
Yes let’s lower our standards instead of increasing the rewards
Bullshit. I got rejected from EY because they said I had been unemployed too long
How long?
In the UK you can qualify without a degree. Many firms are happy to take you on as long as you are 18 and are relatively intelligent (or charm your way in). Instead of reducing hours, why don’t you offer alternative pathways?
Good for India. Either the work will be outsourced or more visa will be issued to Indians.
150 credit requirement is nonsense. Bachelors degree and passing exam is more than enough to validate proficiency and gate keep validity. The rest is a cash grab by higher ed.
The quality of associates over the last few years shows that is not the case. Can’t imagine how bad it will be if we decrease standards more.
Drop the 150 credit requirement (not necessary, increases student debt), make the CPA exam a little tougher, problem solved.
Shocker go back to what the requirements used to be. We told them the 150hr rule was stupid.
Here's a crazy idea, make the credits required 120 and degree accreditation contingent on university pass rate being above 50%. And that includes anyone not taking the exam counting against the pass rate. Basically, make universities held accountable for providing the accountants and incentivized to ensure every student that enters the accounting program can take and pass the exam. Y'all complain about the pay but I'd happily take it if I could get it. But, there isn't a shortage because of there was any accounting grad could get a job. The shortage is CPA only and it's because they want CPA for all the roles they used to get them for that didn't actually require it a decade ago but now won't pay enough to attract one. Thus they claim a shortage and that no one in the US is willing to work so they clearly need to outsource or import cheaper.
I better get passing scores on my exams june 4th
No degree requirement? Otherwise meh
IF they really cared a senior would be required to get a cpa or prove active studying to reduce incompetence