Why is there an accountant shortage?
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- Опубліковано 9 кві 2023
- Tax day is nearly a week away and if someone needs help filing their return they may have a hard time finding someone in time.
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Let me tell you the truth. Accounting firms are hiring staff accountants that have to do everything , bookkeeping , taxes, IRS tax issues and much more. They tell you I am going to pay you 60k a year , but when you realize the hours you worked we are talking about 70+ you understand that you are a slave working for 21 or 16 dollars per hour. The accounting profession used to be fascinating , not anymore. In the large accounting firms they treat you bad , people don't want to teach you. The most important thing education sucks and is very expensive. How is possible that I have to do the bookkeeping and the taxes for a truck driver who earns 150 k a year and I ern 60 k working excessive hours with a lot of pressure.
Both truck driving and accounting are total shitstorm nightmares these days. A lot of others
Honestly it’s hard to feel bad for you guys when it’s people like you praised going to college and getting a “good” job while looking down on blue collar workers
What goes around comes around
Truck drivers also have a very stressful job, just fyi.
For you both information they don’t owe Student Loans and spent years studying to be successful.
So do those that clean toilets. Truck drivers didn’t incur educational debt. No one is saying their job is easy, but it is unfair
I’ve been an accountant for many years. Sorry, can’t recommend it as a good job for many reasons.
Its a shit ass job. To me its the worst thing about business. What keeps me from starting one. So much BS to deal with in the middle and upper management levels. Pay vetter snd better the humigher you go but the highernup the ladder you go the lower your life expectancy gets broootherrrr. Because it isnt easy. Theres so much procedural bullshit that has to be done to maoe sure the businesss runs right before you even get to the really cool stuff that you got into it for
@@TheAnnoyingBoss what else do you recommend please, like finance, or is that one bad too, or what about supply chain or business analysis, or other fields like perhaps engineering or computer science
Try graduating with 150 credits just to make 60k out of school (often time working and living in a metro area with high cost of living). Meanwhile the partners make 250-600k. Young people are tired of this nonsense pyramid scheme
I hate seeing so many accounting jobs starting to be outsourced to other countries, but this is a problem yet to be solved. The cost of living in places like Denver are getting outrageous, and employers are not able to raise costs to clients fast enough to meet both inflation costs and rising salary costs leaving them little choice but to look overseas for the talent.
Lord this is another thing they fire you for not being a better slave . Because that is what we are slaves.
@@TraderMater Rather than addressing the cause of the shortage,, they just outsource it to deflect the problem man
Try taking the CPA exam and then you find out why.
It’s not thatt difficult.
@@lexismith8206Each exam section is around a 50% pass rate. Wouldn’t call that easy, that’s far lower than the BAR exam’s pass rate. And you have to take 4 different sections. It’s doable but it takes a lot of work.
Accounting is still a solid career choice though.
@@lexismith8206its the most boring feild of work ive ever expirienced. If kim jung un told me i had to be an accountant id jump off a building and im perfectly well aware how the job works i could do it its just all that terrible bullshit the corruot system needlessly enslaves us with surrounding all this bullshit i didnt want to do anyway, thats what does it for me. I see accountants on shoestring budgets because they spend all they got on a mercedes and i made 5k last week i didnt even tske my pjs off im doing all the fun business mathematics that doesnt suck balls woth all the paperwork by simply investing in companies that are already doing it efficiently and very very lucratively. I can now alter the available supply of a companies share availability to make a profit without even having to put pants on. I havent had a boss tell me what to do in at least 3 years. I find knowing accounting for investing my money has worked better for me personally at least compared to sctually being out there doing the accounting. Man accounting just sucks so bad i hate doing it. I hate it so bad. Its way more fun to do really anything else short of wallowing in feces or dead bodies. Sometimes im like you know what i might go to afganistan and kill some talibaddies rather than do the accounting. If i ran a business id do the black budget kind where even the irs is like "receipts? Income statement? What are those?" We have nancy pelosi call it funding for gender studies in afghanistan
@@cbd7575 tbh not many bright people will go for CPA exams... most pple who go for CPA is because this is the limit for their brain capacity... if Dr. level of brains were to take the CPA exam they will pass 99%. pharmacy schools have plenty of 90% passing rates,but does that make the pharmacy board exam easier than CPA? no
They mistreat their staff. Overwork them and underpayment them. You think you are getting paid well, about $25 per hour or $50,000 a year, but you don't have a life for 6 month out of the year, expect to work 60 to 100 hours a week. I was an intern at a firm, CliftonLarsonAllen and experienced being pushed to overwork as an intern even though they knew I was in school too, I am a parent, and I was going through divorce. They ended up not keeping me. Well there loss. They stained the profession and will find themselves unable to find enough staff and will regret being a douchebag firm!
Tgese retards pay to go to college for accounting and here i am i say youre going to gave to pay me to go in there ill do it but not without a million dollars in my back pocket. I started thebacclinting classes yall are crazy the only reason people go in there is because its a sad nessessary evil in the world because we have to double check that every single transaction adds up and all our math isnt messed up. The whole career is endless paperwork and endless adjustments its just terrible. They paid me to try to take it i got paid and i left if they want me to actually persue that kind of a career it will have to pay significantly more
Its not because accounting isnt a sexy profession. 😂 heres a real life example from an accountant. You get out of college and make 45k. Youre salaried and workkng 60 hour weeks. Your boss is demanding and unreasonable because of horrible deadlines. You have a billable time minimum. You have a test that is 4 parts with a 45% pass rate you need to find the time for on top of the demands of a career that takes a huge amount of time. The regs of your profession are constantly changing and becoming more difficult. You are under a tremendous amount of pressure to know everything and do it perfectly because youre a professional. Ooooor, you could skip ALL of that and go into finance, IT, etc. Which one would you choose?
So true 😂
I’m struggling to decide between finance and tech right now I want to know what finance ppl know but also tech there are so many remote options and good money and it’s only growing
@@tannercollins2925 as a finance person I believe tech has greater income potential. I went to work in our Engineering Department from our Accounting Department and I truly see how undervalued Accounting is. That being said I absolutely loved what I was doing for the past decade and part me wishes I could continue doing the auditing work.
What you guys are failing to realize is that finance graduates are working 80+ hours per week and it is extremely competitive.
@@ismaelpena8860 you do speak the truth for a lot of people but it also depends on the job. I work about 35-40 hours a week depending on if I skip my lunch hours. In the busy season I may do a few 80+ hours weeks but that’s only a couple of weeks in the summer.
People don't want the long hours and shit pay
I have a masters in accounting and a CPA and it’s still hard to find a job. No one will hire you without experience, but you can’t get experience if no one hires you.
I went back to school and took IT and security classes and started work as an IT auditor for the big 4 (EY). Now, I do Info Security cloud assessment (FedRAMP) for a 3PAO and making good money. Couldn’t be happier. If I was still an accountant, I would be payed a lot less. Instead of wasting time in an accounting major and getting a CPA, just go the IT or Info Sec route from school and your better off. GRC cyber jobs are always in demand.
I tried for DECADES and couldn't land an accounting job to save my life! So, I no longer care how much of a shortage they SAY there is. I am already conditioned to believe that I will never land an accounting job under any circumstances. So, I never apply no matter what! I am studying other fields now. I got SO SICK of trying!
@@mathematicaleconomist4943 accounting jobs are difficult to get for whatever reason. When I got my BBA in accounting, it was difficult as the entry level jobs required 2-3 years experience (like wtf?). The market was over saturated with accountants. When I got my CPA and Masters in Acct (MACC), recruiters told me that I was overqualified for entry level and employers were not willing to pay at the CPA level for someone without experience. Literally, couldn’t get an accounting job with or without CPA. It’s insane!! When I switched to IT security / GRC, jobs were much easier to get and I had tons of interviews and offers. Plus GRC roles play higher and work less hours.
@@mousedream1550 Extremely interesting. I am saying this as a man in my mid 50's.
Throughout my working years, I could not land an accounting job to save my life! So, I altogether stopped trying recently.
It's best to just reset and do different things for which you are likely to be hired! I could care less WHAT they say now!
Someone could call me in offering me an accounting role for $100,000. I would not go because...
1. I would think it was too good to be for real and 2. Even if it were for real, how long would it last?
If the position disappeared within 2 years, would it again take me decades (instead of months) to land my next accounting role? Thanks but NO THANKS! I am no longer touching accounting no matter WHAT!
@@mathematicaleconomist4943 Agreed. I think what makes getting an accounting jobs difficult is a combination of incompetent recruiters and clueless hiring managers. For an "entry level" position, they want the perfect candidate with 2-3 years of experience who can hit the ground running. You can't get experience if no one will hire you and no one will hire you without experience. The reason is that the company doesn't want to take the time to train candidates without experience. If you have the CPA, they don't want to pay you what you are worth. There is no accounting shortage, I really think its just incompetence in the hiring process. As you said, its best to do different things for which you are likely to be hired.
How are you a CPA without experience?
Then how come every accounting job I apply doesn’t respond?
I’ve been ghosted by so many companies after interviewing with them before I found my current Accountant job.
Accounting is amazing and it’s easy to transfer into other roles. Don’t waste your time getting a CPA unless you want to be a controller. Don’t do Big 4 either😂. Certificates can get you to six figures quicker. EA, Series 7, SQL etc. You can even open your own business after a couple years. I know some accountants that focus on tax and only work Jan-May. Skies the limit 😊
I love busienss and youre shitting yourself if you ask me. Accounting is single handedly the absolute worst part of business and thats the only reason it pays. People go right from college to advisory services and theyve never had 1 day on the job its a clown show nightmare. I took accounting I dont hold any degrees but understanding the accounting cycle is key to business eventhough its single gandedly the absolute worst part. Id rather drive all day long imsyea of sit in an office literally doing debits and credits and adjustments and tryong to figure out why all the math doesnt add up all day long every day. To me if i starr a business im saving up my own personal cash so when i can afford it ill have accountants so i can just pop in and make sure theyre doing alright. As a ceo the job of ceo is worse than acpcunting its an even worse job because you are also there for the accounting but you have to pick the people who are going to handle hiring people and yoy have to get the budgets and pick the people to help make the products and all these people have to syncronize in harmoney and a lot of what they will be doing is all interrelated with the accountants because you have payroll documents and all these things it ends up being a lot of people involved in one way or another. So you end up in meetings hiring processes and all you wanted to do really was just have fun growing tomatos 😐 so all that just really kills business for me. I end up deciding its smarter for me to invets my money in people doing it already and not doing it myself because I just give them my money my equity is tracked as it grows my share of the company gains value and i can sell and pay the irs once a year and its such an easier way to live. I think it would be cool I would love to run a certain type of business but the whole reporting your data every 3 months every 12 months tracking everything its just a total shitshow man if it wasnt we wouldnt have to hire people to figure out why the books didnt balance if we vant figure it out ourself and we actually own the company. Maybe someone stole a product so the inventory related enteries dont balance its just the type of job that no one wants to do, like climbing to the top of an extra tall radio annennae to replace a light bulb. Its a boring boring job to dig into the loins of the mathematics chasing receipts invoices the endless sea of debris. For me its not awesome its simply a nessessity to make sure the math adds up in our critical areas and most people dont want to do the job its more like that we have to and thats why there is shortage and demand. People go in it for the money. Trust me the classes are so boring you just watch graphs of corporate compartimentalization techniques 😂 its just terrible man. Its what keeps me from starting a business. A lot of businesses fail they arent thought through thet dont realise the shitstorm they signed up for so
@@TheAnnoyingBoss what should i do instead I thought accouting was the way since everything else seemed low pay, now what finance, enginerring, computer science, IT, supply chain, what do you recommend
Accounting is a terrible job. Notice I did not say profession. The negatives long haul over the corporate ladder, region specific rules, obsolescence due to ai, outsourcing, salary heavily dependent on business in your region, ageism (see Deloitte case) I have my FCCA and in my mid forties retraining as a car mechanic - no jobs in Trinidad
Y’all can expect to see tax and accounting fees rise significantly as this shortage continues. Practitioners bear a lot of risk and responsibility for the work they do. Maybe if fee revenue increase to levels to properly compensate firms, better salaries will follow.
The bottom line, it doesn't pay well, and employers are not going to substantially increase the pay bcz it's just a cost centre. people would rather go into analytics if they can for obvious reasons. The way I see it, it's the beginng of the end for accountancy. It's going to be automated in the next few decades.
Bottom line.. y’all need to pay us more
The issue is outsourcing, which drag the salary down in the US for accountants... If they are not paying well, why would some young people will major in it ?
Because CPA make no money compared to other graduate roles
Accounting is a great background, don’t be fooled by miserable people on the internet
Its not its the worst part of business. I made 5k i didnt even have a job or owe taxes on it. My family won a lawsuit against a local government body and got 100k tax free also theres more than 1 way to get money in our pockets in this world. Accounting is critical to a good business but it also sucks balls dont lie bro. No one wants to he a paper pusher
@@TheAnnoyingBoss Most jobs suck balls. Accounting is a tried and true path to an upper middle class lifestyle. You can easily make 6 figures to work mostly 40 hours in an air conditioned room sitting on your ass. That beats a lot of jobs. It’s a means to an end.
Can you tell me more I want to get into accounting because I’m tired of blue collar work but this comment section is making me want look for another major
@@IsaiahMiguel Yeah what questions do you have specifically? Accounting can be a grind, especially early in your career, but it’s amazing job security and can be lucrative. You can do a ton of different stuff with an accounting background. Having your CPA license is a huge leg up, but it’s not 100% necessary depending on what your goals are.
It’s a valued skill and you can work a ton of different jobs, you don’t have to be a corporate slave as an accountant. Although being a corporate slave for a bit is often a fast track to management level roles.
There are other great career fields besides accounting too, but accounting deserves consideration
Where is the accounting shortage at? :)) I tried to apply for months for entry level accounting jobs but no success. Even the internships are hard to get, it's a very competitive field it seems. Everyone wants you to have experience but no one is willing to give you a chance to have experience lol. Hopefully when I finish my 4-year degree it'd be easier to find a related job. If not Im just gonna try to study for CPA exam and pass it. It's also because my area (OKC) there is not a lot of job openings so I may have better luck at other cities and states where accountants are in higher demand.
try Dallas.
Just read another accountant comment who couldn't find a job because of experience. Now they took the CPA exam and now is overqualified. Like WTF, im starting my new major in accounting this March. Idk need to know this hahaha
@@coffeepandacat : Im not a CPA
Dallas isn’t hard to get jobs in. Oklahoma is economically weak so you will likely never get ahead there.
That’s what I thought too. I may have better luck at bigger cities and states.
Most accounting jobs have been offshored to Manila, Guatemala. Bulgaria/Romania etc. Cos. Have laid off thousands of accountants in the US. Harder to do that in EU because of laws. The pay has dropped significantly. Why waste your time doing accounting when Ups truck drivers make 150k with no college loans. An accountant i know became a truck driver as he makes more money with job security
Some people arent built to drive truck bro theyre 4 foot 3 and they cant drive a corolla well theyre better at math. They make sure all the numbers add up in the abclground so thet dont suddenly wonder where all the money went so that way the tryck driver can even get paid
based on my experience in the US, it has been fairly easy to "find" a job. I didn't really have to actively look for one, as recruiters are always after accountants, especially if you have a CPA. As a matter of fact, I actually never uploaded my resume and applied for a job in the US. It was more like recruiters kept throwing jobs at me and whatver stuck on that was it. So job security wise, it is pretty good. I think it has something to do with the shortage of accountants, especially CPAs.
Help me find one i am a CPA
CPAK and Bcom graduate looking for remote role as senior finance officer
6 yrs experience
Its because they use us into the ground and we are IT actg finance
The busy season hours in Public Accounting isn't helping when it comes to recruiting. It's a hard sell having to tell college students that they won't have a life from January to April.
People think accountants just do taxes.
WHAT!!!! I HAVE BEEN UNEMPLOYED 9 MONTHS
It's not an exciting job is it? I mean who gets excited about accountancy? No one unless they never go out
😂
Come on i like accountancy
Its the only subject which doesn't sucks for me
I get excited about making good money and having extremely good job security. You don’t make good money at first but it pays off in the long run.
People go into it for the pay because we need accounting and everyone hates accounting. They say anyone can learn it and i did but i didnt want to most people wont and dont want to either its just a crap job that has to be done like the septic tsnk pumper or the guy that has to clumb up the anntennae to change a lightbulb. People see it and they say theyd rather pitch a tent and pay no rent and cook a steak on a campfire investing in stocks until they can afford the mansion
Accountants are overworked, under paid and under appreciated. Their fellow student that go into hedge funds or banks make way more money while doing less work. It looks like it pays well because job listing say 60-80K a year, but what they dont tell you is that you be working 60-100 hours a week to make that pay. They also expect you to know everything from tax, bookkeeping, to financial statement and consulting from day 1 while people around you along with management think what you do is similar to turbo tax. Also, if something goes wrong, your bosses will throw you under the bus and if the higher ups been doing fraud without you knowing, good chance you get blamed for it. Its not really worth it.
I saved up cash working oddballs and I invested in a company another guy is running and I made 5k last week alone I didnt even put pants on. I needed a luttle extra cash one week so i tried doordash and i ended up working 7 days straight and if i did that all year id maoe more money than accountants but instead I only did a week and i rolled the money into a low cost to high asset ratio stock. Every once in a while ill do stuff like that. Be smart with my credit so they keep giving me more and i dont even need a boss anymore at all. I end up just planning what i want to do ahead
All of the comments here are relevant and true. Accounting degrees are worthless. Chat GPT can do bookkeeping and understand tax law. In accounting, you will not be surrounded by bright. lovely people. It is tedious work. You spend most of your day tracking down and correcting the mistakes of careless or incompetent others. There are better ways to make a living. Be confident. Be joyous. Be grateful if you are not an accountant.
Haha funny if that is the case then why their is need of doctors?
Imean their are enough machines to do the work. Ai can't take this job at all
What do you think of CPA or CA is?
Do you really think all they do is tallying shit and helping the owner in transaction?
Yes maybe you are right if u are taking Accountant.
But incase of CPA or CA u are dead wrong.
@saikatsaha4122 Obviously, you're an English professor.
So what do you recommend we do instead?
@@MR12AMAZING Continue being amazing.
@@saikatsaha4122don't mind him. It's always the people who have no idea what they're talking about, who make such ignorant claims
Lol, the comments 😂. I love it and I'm gonna pursue it even it's hard then later I'll get a computer related skill.
Exactly
People here are saying their is no jobs for accountants. It is making me more Hard to get my degree
The pain of reaching 150 hours and having the right credits, long process of evaluation, the cost , etc. Young people are not interested in the run around. I feel like Tech industry appeals them more. I was told I need 9 more credit hours to hit 150. The fastest and easiest way will cost my $850 a course. I feel like throwing in the towel. Just a little rant.
I just see degrees as almost useless for when it comes to business in the real world. You dont mention all thsoe other bullshit classes they simply robbed yoy making you take just so you could learn how to make an accounting entry. I can do the same job and I got paid to take accounting and left to start a business. The job sucks balls real bad and part of why is the morons require a degree when in reality you shouldnt need a degree to be good at accounting. When I went and took those classes they were thenkost boring classes id ever expirienced in my life and other people paid to be there i got paid to be there and left because i still felt scammed. The teachers so boring its all busy work endless endless seas just debit this credit that.
I’ll do welding while I’m young and turn to accounting when I’m old
I’m on the way!
I recommend getting into government accounting, great benefits and no crazy hours
Companies have apopted a more with less philosophy. More hours worked, less pay, less recognition.
Hmmm, I'm an unemployed accountant. Have been for a few years now. Don't believe this vid...
These comments are so negative. Accounting is a solid career choice with ample opportunities and decent pay. Almost anyone can get into it, it’s not rocket science. Compared to the majority of other college majors, accounting has a great return investment. Just don’t be a dumbass and spent tens of thousands of dollars obtaining your 150 credits. I got mine through a state school and all 5 years were covered with a scholarship.
True, accounting is cost effective even the paying is quite good with experience it grows bigger
Agreed and people want to act like finance and IT jobs don’t also have problems. Many of my software developer friends are shitting their pants about being laid off right now. Those who have been laid off are struggling to find work. People with accounting backgrounds will often get promoted to senior management/executive roles over people with finance backgrounds. The grass is always greener.
Anyone can get into it but no one wants to because its a shit ass job. We can get paid way more to do cooler jobs. I know how to weld and do accounting i hold no degrees ive had plenty of classes in various areas. I just would rather suicide than be stuck doing accounting 9-5. I can do anything esspecially i can not do accounting. Thats a shit ass job. The fry cook at mcdonalds gas a cooler job its such a shit ass job. Oh bookkeeping how thrilling. The carny at the nomadic fairground literally had a cooler job. The only reason we have accounting is becsuse we need accointing if we didnt need to have it people would burn it to ash with fire 😂
@@cbd7575 recent Accounting graduates in Feb 2023 had a low unemployment rate of 3.3%, which is lower than Computer Science (4.8%), Information Systems (6.4%), and Finance (4.1%).
Maybe it is hard to find an Accountant job role, but Accounting is not limited to just that. There are many other jobs you can get with Accounting, and it is easier to find a job as an Accounting graduate than it is for IT/Finance/CS graduates.
@@TheAnnoyingBoss I’ve worked in fast food, the fry cook at McDonald’s most certainly does not have a cooler job haha. But if I knew how to weld I wouldn’t have been an accountant, I mean who would. Most people who go to college do so because they don’t already have other skills
Don’t do this unless you absolutely love it. I’m serious. Yes there is job security, but if you don’t find it fun to analyze spreadsheets, customize reports and analyze those, and dig through files and documents to answer very specific questions, DONT DO IT.
what do you reconmened instead please, finance or something else
@@miguelplays2921 What interests you the most in life? What do you find to be fun?
@@tswagg504 I like the idea of working on something, a project or idea, and seeing it finished, so it probably sounds like computer science or engineering. But First in the business world, let's say accounting, finance, supply chain, business analytics, which is best? I been seeing that accoutning is good but its soul sucking and finance is good but its long hours as well and you have no life so I'm not sure
@@miguelplays2921 In the business world, maybe you could go into Project Management, or get into a Mergers and Acquisitions role. Both of these will have you working on big projects and seeing them through. If you have the computer science knowledge as well, you could get into Research and Development roles or do software implementation projects for businesses.
@@miguelplays2921 In the business world, you could get into Project Management or Mergers & Acquisitions. If you add in the Computer Science knowledge, you could get into doing Software Implementation for businesses. These are all things where you would be working on longer projects with a common end goal, which is also very gratifying