Why Not Accounting? Career Choice Under Duress

The accounting profession is facing a critical shortage of certified public accountants (CPAs), with more than 73% of accounting students relying on external financial support to obtain their licenses, according to a survey by the Pennsylvania Institute of Certified Public Accountants (PICPA)¹. The 150-credit-hour requirement for certification is viewed by many students as "not worth the time," exacerbating the talent shortage. On some level that is disturbing in many ways. The old-school thinking of investing your time and money into your future is well worth it...or is it not?

There is a significant need for mentorship, assistance in job placement, support in exam preparation, and selling college students on the CPA value proposition. As alarming, the situation is further compounded by a 7.4% decline in accounting graduates at the end of the 2021-2022 academic year, continuing a six-year trend of decreasing entrants into the profession, as reported by