Accounting Firms Hired Record Number of Graduates
Public accounting firms hired the largest number of accounting graduates ever last year, according to the American Institute of CPAs.
The AICPA said Monday that enrollments in undergraduate and graduate accounting programs also increased in the 2013-14 academic year, crossing the 250,000 mark for the first time.
On the recruiting side, the record number of accounting graduates hired by accounting firms in 2014 represented a 7 percent increase from the previous survey, according to the 2015 Trends in the Supply of Accounting Graduates and Demand for Public Accounting Recruits report.
Both universities and firms believe the accounting profession will continue to grow. Ninety-seven percent of bachelor’s programs and 70 percent of master’s programs anticipate their enrollment will remain the same or higher within two years of responding to the survey.
In addition to their record levels of hiring last year, 91 percent of firms expect to hire at the same or an increased level this year. Larger firms are particularly optimistic about hiring, with all firms employing over 200 CPAs reporting that their hiring will either increase or stay the same this year. This indicates that job prospects for current enrollees in accounting programs and recent graduates remains extremely bright.
While the data on enrollments and hiring represent a continued upward trend and increase from the previous survey, the number of degrees awarded for both undergraduate and graduate degrees combined showed a slowing of momentum. Degrees awarded held steady at the previous record high level (less than a 1 percent decrease), which was driven by a sharp increase in master’s degrees awarded (31 percent) and a decline in bachelor’s degrees (11 percent). Read more on Accounting Today.