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Accounting Grads are More in Demand Than Ever, But When Does it End?

Posted on by Adrienne Gonzalez

Like most topics, we've discussed this ad nauseam but it's a slow Tuesday so why not attack it again?

Here's our jump off point from CPA Trendlines:

Bolstering reports of a suddenly surging profession with a high demand for top talent, CPA firms are hiring a record number of graduates.

At the same time, the pipeline of accounting students is bulging, suggesting to some that the continuing high demand for new recruits can be met by newly minted graduates for the next few years.

Awesome, right? JOBS, JOBS, JOBS. The firms are always on the lookout for not only top talent but any accounting grad with a pulse and fewer than 3 DUIs. Seems like a win-win for everyone, really.

Back in 2010, Barry Melancon was more than happy to point out that a record number of candidates sat for the exam in 2009 when Prometric, the AICPA and NASBA all joined hands to sing Kumbaya over signing a new agreement that would bond the 3 organizations in holy CPA exam matrimony at least through 2024.

Let's pull up the 2013 Trends in Accounting report from the AICPA if you need a quick refresher:

Now, I wouldn't call that Peak Accounting Grad or anything but a reasonable person might ask themselves out loud if demand for accounting grads is infinite or if one day in the not-so-distant future, interns will be replaced by robots, rendering new grads obsolete.

 

That's great and all but let's not even discuss the shortage of qualified accounting professors.

At some point, something's got to give.

 

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Is Turning Down a Big 4 Internship a Mistake?

Welcome to the Cairo-is-burning edition of Accounting Career Emergencies. In today’s edition, a midtier intern-to-be is having second thoughts about their decision to turn down an offer from a Big 4 firm. Was the move a mistake? Can they go back, begging, crawling on hands and knees for a second chance?

Need solid, yet snarky career advice? Concerned that your advances on a co-worker might be rejected with footwear? Suddenly in need of a talent agent? Email us at [email protected] and we’ll help you find your very own Ari Gold.

Meanwhile, back on campus:

I accepted an audit internship offer awhile back with a midtier firm for next winter. In doing so, I turned down an offer from one of the Big 4 for the same period. Now, I’m wondering if I’ve really given enough thought to the Big 4 route.

I am aware that my life will be non-existent outside of work no matter where I go, but the exit ops with the Big 4 seem worth it. I’m wondering if it would be advisable to contact the recruiter I previously worked with and see if I could interview again, this time for a summer internship. Would this make me seem too indecisive, or should I at least try for it? If not, could I still ask him to keep me in mind for full time positions?

Sincerely,

Confused and soon to be abused

Dear Confused and soon to be Abused,

You didn’t really give me a lot to go on (we do however, appreciate the brevity) but we’ll make something out of this.

In general, I think your first instinct is always best and it sounds like you might be second-guessing your decision. You chose the firm you chose for a reason, didn’t you? You probably had reasons for not choosing the Big 4 firm, right? Did the “exit ops” occur to you only after the decision had been made and all your previous considerations were deemed inconsequential? I’m doubtful.

As for contacting the Big 4 recruiter, I don’t see any problem but take the angle that the decision you made was extremely difficult, you want to have various experiences to make the best choice for your long-term career and you’d be interested to know if summer internships will be offered. If you play the “I made a mistake, please, please, please give me a second chance” angle, you’ll come off desperate and wishy-washy. As for the full-time possibility, most of those positions will be offered to their interns, so it will be tough to sneak in once you’re ready to go full-time and you haven’t interned with that firm.

Keep in mind – just because you’re interning with a particular firm, that doesn’t mean you’ll be with the firm your entire public accounting career. Many people bounce around to various firms for one reason or another and your experience will be valuable no matter where you work. So, feel free inquire about the Big 4 firm’s summer internship but don’t give up on your mid-tier possibility. Good luck.