Tuesday, July 19, 2005

U.S. accountant shortage drives salaries up sharply


Should you have become an accountant?

Maybe it's time to sign up for the CPA exam.

Recruiters say the United States is facing a shortage of accountants, which is pushing annual salaries up sharply -- up over 30 percent in the past three years for an accountant with five years of experience at the top four U.S. public accounting firms.

Three years into a regime of tough accounting and corporate governance rules, American businesses, including large accounting firms, are scrambling to recruit new accountants, struggling to retain their staff, and digging much deeper into their pockets to come up with attractive compensation packages.

"The demand is increasing dramatically with Sarbanes-Oxley and all the requirements and the supply is decreasing ... you're really seeing a mild panic," said Neil Lebovits, a certified public accountant, or CPA, who also is president and chief operating officer of Ajilon Finance, a financial services staffing unit of Adecco SA, the world's largest employment company.

See full Article.