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battling the staffing crisis: is a little-known, but controversial, visa program the answer for 2025 hiring?

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cornerstone report: h-1b hiring and salary trends in tax, accounting and finance

  • the jobs outlook, salary trends, and election year politics.

卡塔尔世界杯常规比赛时间 research estimates and illustration

what it is. how it works. and what cpa firms are doing.

by 卡塔尔世界杯常规比赛时间 research

the h-1b visa program is vital for u.s. companies to hire highly skilled foreign workers in specialty occupations, including tax, finance, and accounting.

卡塔尔世界杯常规比赛时间 research estimates that as many as 46,000 tax, accounting and finance professionals work at u.s. firms under the h-1b program. this figure has received scant attention in the profession but is critical to its infrastructure. to the extent that it has received attention, critics say the program holds down salaries for u.s. workers.

in 2024, the biden administration eased restrictions on the h-1b visa program while clamping down on abuses. by 2025, with the trump administration, it had become a lightning rod of controversy.

the nation’s tech industry has a huge stake in the outcome. despite fluctuations in the number of h-1b workers requested and approved, the demand for h-1b workers in computer-related occupations remains strong, and h-1b workers play a critical role in the workforce.

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jobs outlook: strong and steady growth in hiring and earnings for u.s. accountants

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cornerstone study forecasts smooth advances in both employment and salaries for accountants through 2031

cornerstone studies by 卡塔尔世界杯常规比赛时间 research provide decision-makers with a strong, data-based set of sharp insights, useful reference points, and actionable intelligence.

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three ways to thrive with limited capacity

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smiling man working at laptop in office with glass walls

turn the staffing shortage into a new opportunity.

by frank stiteley
the relentless cpa

charles dickens had to be writing about the accounting profession when he wrote, “it was the best of times, it was the worst of times.”

clients are plentiful. i met a new client coming out of the restroom at our office complex. we get four to five inquiries a day – out of tax season. during tax season, we turned down four out of five prospective clients.

more on staffing: tax and accounting jobs and salaries show strength | olympics of outsourcing and offshoring for accountants | new study: strong and steady growth for accountant jobs and salaries | can’t recruit? retain! | is tech causing both cpa shortage and low salaries? | staffing tops list of woes at cpa firms | to replenish the talent pipeline, go back to the classroom | whole person retention: when it’s not just the money | more big firms shut their doors to new college grads | seven enticements to keep talent on board | employee retention is easier than attraction | let interns fix the staffing shortage? | disruptors: talent crisis? what talent crisis? | firms culling clients as staffing woes persist
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

staff are not plentiful – at least not good ones. i’m getting two or three resumes a day, but they’re the warm body sort most of us learned the hard way not to hire during the pandemic. you’ve seen these resumes too. they are people with six employers in eight years. you are certain to be number seven in nine years. they claim eight years of experience, but you can see from their job history that it’s really two years of experience repeated four times. and – they want $100k for those two years of real experience.

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tax and accounting jobs and salaries show strength

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overall accounting profession employment hits a glitch.

hourly earnings fluctuate.

by beth bellor
卡塔尔世界杯常规比赛时间 research

despite a slowing increase in employment for the u.s. economy in general, the nation’s tax and accounting sector is improving on most fronts, marking more than four years of solid year-over-year gains.

more: new study: strong and steady growth for accountant jobs and salaries | more big firms shut their doors to new college grads | seven enticements to keep talent on board | payroll leads job gains in tax & accounting sector
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

to be sure, tax and accounting employment nudged slightly down in july, according to the latest data available to 卡塔尔世界杯常规比赛时间 research. but it remains ahead of last year’s figures. and record highs are popping in key hiring segments, including staff, cpa firms and payroll services. is talk of staffing shortages overblown, or would growth be even stronger if more qualified candidates were available? read more →

is tech causing both cpa shortage and low salaries?

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the number of accounting degree completions from bachelor’s programs from 1994-2021. source: 2023 aicpa trends report

 

there’s a paradox going on.

by 卡塔尔世界杯常规比赛时间 research

a working paper by three academics presents a paradoxical contradiction in the accounting industry. somehow, technology, which is starting to replace some accounting functions, is causing a shortage of accounting professionals. and despite the high demand for the few graduates who major in accounting, starting salaries are lower than in related professions.

more: audit firms nervous about new tech | what accountants can learn from t-ball | staffing tops list of woes at cpa firms | to replenish the talent pipeline, go back to the classroom | beware the work-life/workload doom spiral | why the dry pipeline? it’s about time | business model transformation: do it or die | misperceptions, corrections, accountancy and lemonade | whole person retention: when it’s not just the money | global trends show many dissatisfied cpas | more big firms shut their doors to new college grads
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

and in a related paradox, technology’s most powerful tools may be augmenting the accountant’s workload.

how can all this be concurrent?
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how firms are compensating their coos

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bar chart

real-life examples. about 29% are owners.

by kristen rampe
rosenberg associates

more and more firms are exploring the benefits of adding a chief operating officer (coo) to their leadership ranks. the coo role often encompasses strategic cpa firm leadership, holding partners accountable, making decisions in line with the firm’s strategy and overseeing all administrative functions.

more: help! a partner wants to retire really early
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

this position can significantly reduce the time client service partners spend attending to these duties. and often the coo can do them better, as they aren’t distracted by the next fire drill from a high-profile accounting client. their only client is the firm.
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more big firms shut their doors to new college grads

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some 88.7% of top firms rate problem-solving skills among the most important criteria in hiring new college grads. technical skills rank fifth, at 67%. (nace)

firms that overhired in the covid-19 boom are now trimming their ranks.

by 卡塔尔世界杯常规比赛时间 research

despite widespread concerns in the profession about a talent shortage, the largest accounting firms in a new survey are cutting back on their hiring of new college accounting graduates by 16.1 percent this year.

more in staffing & recruiting: employee retention is easier than attraction | payroll leads job gains in tax & accounting sector |  disruptors: talent crisis? what talent crisis? |  letting staff go after tax season? bad idea |  firms culling clients as staffing woes persist | compensation’s up, but up enough to retain staff?

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

reflecting broader economic uncertainties and budgetary constraints, half of all the biggest firms surveyed are gearing down for a recession, marking a sharp turnaround from the hiring spree sparked by a global pandemic that forced industries across the globe into transformational change, often staffed and driven by the biggest accounting and consulting firms.

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payroll leads job gains in tax & accounting sector

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line chart
overall accounting profession employment

 

everyone is earning more this month, and most downs are slight.

by beth bellor
卡塔尔世界杯常规比赛时间 research

the tax and accounting profession is not a bad place for job seekers, it seems. a new analysis by 卡塔尔世界杯常规比赛时间 shows a lot of up notes, including some in the double digits.

more on jobs: let interns fix the staffing shortage? | accountants bullish locally, bearish nationally | accounting hiring hits another high | compensation’s up, but up enough to retain staff? | staff wages hit record high | despite staffing crunch, firms freeze pay raises | tax & accounting firms grow for 9th straight month | tax & accounting profession grows, but wages don’t
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

new highs are coming in:

  • the accounting profession overall
  • staff earnings
  • payroll staff
  • payroll staff earnings
  • women overall and in cpa firms

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compensation’s up, but up enough to retain staff?

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young woman seated at laptop counting money

people are leaving the profession. more money is one solution.

by 卡塔尔世界杯常规比赛时间 research

the aicpa’s 2023 national management of an accounting practice (map) survey came up with an odd statistic. kind of hard to believe until you get the context.

the finding: the median employee turnover rate across all cpa firms is … 0 percent.

yes, that’s a zero.

more: are accountants charging too little? | chatgpt for the reluctant accountant | survey shows challenges, priorities shifting | can big data spot financial fraud? | accountants torn over 2024 economy, offer advice | survey: are you offering the right services? | survey: 42% of accountants turn away work over staff shortages | talent gap widening: be very scared | cpa biz is booming, but for how long? | the 7 categories of cybersecurity solutions firms need
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

but wait. a median, as they say, is only half the story.

the bigger story – the broader context – is that more than half the responding practices had zero turnover, so the median fell at zero percent. but that goose egg doesn’t reflect the reality of firms at the other side of the spectrum.
read more →

tax & accounting profession keeps growing

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line chart
overall profession employment

 

more workers, with some making quite a bit more money.

by beth bellor
卡塔尔世界杯常规比赛时间 research

winter doldrums didn’t seem to affect the tax and accounting profession, which saw several sectors hit new hiring highs in february.

elsewhere in the nation, total nonfarm payroll employment increased by 275,000 in february, nudging the unemployment rate up to 3.9 percent. professional and business services saw little change for the month.

more: accounting hiring hits another high | staff wages hit record high | despite staffing crunch, firms freeze pay raises | tax & accounting firms grow for 9th straight month | tax & accounting profession grows, but wages don’t | tax and accounting pay advancing at 5.9% pace | accounting jobs up 4% for year
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

overall accounting profession employment at a record 1,163,600 was up 1,000 or 0.1 percent for the month and 29,600 or 2.6 percent for the year. employees averaged 35.9 hours per week, down 6 minutes or 0.3 percent for the month but up 6 minutes or 0.3 percent for the year. their earnings hit a new high of $41.41, up 21 cents or 0.5 percent for the month and 34 cents or 0.8 percent for the year.
read more →

accounting hiring hits another high

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line chart
overall employment in the accounting profession

 

tax prep is less than half the increase.

by beth bellor
卡塔尔世界杯常规比赛时间 research

is the accounting profession closing its staffing gap?

it sure seems that way, as employment hit an all-time high in january. women fared well, too, reaching record levels in the field overall and in payroll services.

more: staff wages hit record high | despite staffing crunch, firms freeze pay raises | tax & accounting firms grow for 9th straight month | tax & accounting profession grows, but wages don’t | tax and accounting pay advancing at 5.9% pace | accounting jobs up 4% for year
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

nationally, unemployment held at 3.7 percent as total nonfarm payroll employment increased 353,000, according to the latest data available to 卡塔尔世界杯常规比赛时间 research. of those new hires, 74,000 came in professional and business services, well above 2023’s monthly average of 14,000.
read more →

cornerstone report: cpa billing rates, tax return fees, and client accountng pricing at cpa firms | 2024

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卡塔尔世界杯常规比赛时间 research cornerstone reports deliver instant situational awareness on the day’s hottest topics. come back often because, as a moving target, it changes often.

by 卡塔尔世界杯常规比赛时间 research
getting started
the billing rates, fees, and pricing strategies at cpa firms are influenced by various factors, including the type of service, the cpa’s experience, geographic location, and the client’s financial complexity. as the demand for specialized financial services grows and technology evolves, cpa firms adapt their pricing models to meet client needs and ensure sustainable business growth.
by understanding these factors and trends, clients can better navigate the cost of cpa services and make informed decisions about their financial needs.
you can refer to the full articles on 卡塔尔世界杯常规比赛时间 research for more detailed insights and data.
deep dive
1. average billing rates for cpas
the average billing rates for cpas can vary significantly depending on the type of services provided, geographic location, and level of expertise of the cpa. here are some general insights gathered from various sources:
• remote books online: on average, cpa hourly rates range from $150 to $400, with audit services commanding higher rates.
• bench: cpas typically charge between $150 and $400 per hour. however, rates can exceed $400 per hour for more specialized or high-demand services.
• reddit: in some cases, cpas charge around $400 per hour for consultations, especially for complex tax discussions.
• synder: the cost of tax preparation by a cpa depends on the cpa’s experience and reputation. experienced cpas with a strong reputation often charge higher fees.
• 卡塔尔世界杯常规比赛时间 research: new surveys and reports show that billing rates have been steadily increasing, particularly for specialized services and regions with a high cost of living. for instance, a study showed that cpa billing rates rose 6.5 percent over six months, reflecting an ongoing trend of rising fees (卡塔尔世界杯常规比赛时间 research) (卡塔尔世界杯常规比赛时间 research).
2. factors influencing cpa fees
several factors influence the fees charged by cpas:
• experience and reputation: more experienced cpas or those with specialized skills tend to charge higher fees.
• service type: different services have different pricing structures. for instance, audit services are more expensive than tax preparation.
• geographic location: cpas in urban areas or regions with a high cost of living generally charge more.
• client’s financial complexity: clients with more complex financial situations often incur higher fees due to the increased workload.
3. cpa services and pricing models
cpas offer a wide range of services, each with its pricing model:
• tax preparation and planning: typically charged hourly or a flat fee per return. rates can vary from $150 to $400 per hour.
• audit services: these services usually command higher fees due to their complexity and the level of detail required. rates can range from $200 to $500 per hour.
• financial statement compilation and review: according to elt cpa, the cost of financial statement compilation can vary, with prices often rolled together with other accounting services.
• consultation services: quick consultations, especially for tax-related advice, can be quite expensive, with rates up to $400 per hour, as mentioned on reddit.
• 卡塔尔世界杯常规比赛时间 research: new articles highlight the growing trend of value-based and subscription pricing models, where clients are charged based on the perceived value of the service or a regular fee for continuous support (卡塔尔世界杯常规比赛时间 research) (卡塔尔世界杯常规比赛时间 research) (卡塔尔世界杯常规比赛时间 research).
4. pricing strategies for cpa services
cpa firms employ various pricing strategies to cater to their clients:
• hourly billing: the most common method is where clients are billed based on the time spent on their work. this model is straightforward to understand but can be less predictable for clients.
• flat fees: these are used for standard services like tax preparation, where a fixed price is charged irrespective of the time spent. this provides clients with a clear understanding of costs upfront.
• value-based pricing: this strategy involves charging based on the perceived value of the service to the client rather than the time spent. it is commonly used for high-value services. articles from 卡塔尔世界杯常规比赛时间 research discuss how value pricing can enhance client relationships and firm profitability (卡塔尔世界杯常规比赛时间 research) (卡塔尔世界杯常规比赛时间 research).
• subscription billing: according to quickfee, some cpa firms use subscription billing for ongoing services, where clients pay a regular fee for continuous support. this model ensures consistent revenue for the firm and predictable costs for the client (卡塔尔世界杯常规比赛时间 research) (卡塔尔世界杯常规比赛时间 research).
mentions of key industry experts:
• both ron baker and ed kless advocate for value pricing and argue that traditional hourly billing is outdated and less effective. they emphasize the importance of pricing based on the value delivered to the client rather than the time spent. their insights into value pricing have influenced many firms to rethink their pricing strategies (卡塔尔世界杯常规比赛时间 research) (卡塔尔世界杯常规比赛时间 research) (卡塔尔世界杯常规比赛时间 research).
• jody grunden: known for implementing value pricing in his firm, grunden shares practical tips on transitioning from hourly billing to value pricing, highlighting the benefits of increased client satisfaction and better financial outcomes for firms.
5. regional variations in cpa fees
• california: the vintti blog and ziprecruiter highlight that cpas in california tend to earn higher salaries, reflecting higher billing rates in the region. salaries can range significantly, with experienced cpas earning six-figure incomes.
• national trends: the investopedia article notes that the average salary for cpas varies across the united states, with higher earnings typically in metropolitan areas.
• 卡塔尔世界杯常规比赛时间 research: reports indicate regional differences in billing rates, with the highest rates found in major metropolitan areas and regions with a high concentration of financial services (卡塔尔世界杯常规比赛时间 research) (卡塔尔世界杯常规比赛时间 research).
6. trends in cpa firm pricing
• increasing rates: there is a trend of increasing hourly rates for cpas, driven by higher demand for specialized services and the growing complexity of financial regulations.
• technological integration: cpa firms increasingly incorporate technology into their services, leading to more efficient operations and potentially different pricing models, such as subscription or flat-rate fees for tech-enabled services.
• 卡塔尔世界杯常规比赛时间 research: articles suggest a shift towards more flexible and client-friendly pricing models, including bundling of services and the use of advanced software for better financial analysis and reporting (卡塔尔世界杯常规比赛时间 research) (卡塔尔世界杯常规比赛时间 research) (卡塔尔世界杯常规比赛时间 research).