Signs of Growth in the Accounting Pipeline
Demand for accounting graduates remains strong, and recent trends suggest the talent pipeline is beginning to catch up.
Let’s explore what public accounting firms and the latest enrollment data reveal about the future of the profession.
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The Accounting Shortage May Persist Despite Growing Interest
New data from the AICPA suggests it could be several years before the supply of accounting graduates meets current demand. Public accounting firms continue to express a strong interest in hiring new accounting talent. According to the AICPA’s biannual Trends Report, which tracks enrollment, graduation rates, and hiring trends:
Three-quarters of firms that hired in 2024 plan to hire the same (47%) or more (28%) staff in 2025.
About 75% of these new hires held accounting degrees.
Despite the demand, the number of accounting bachelor’s degree graduates dropped 3.3% in the 2023–24 year, following a larger 7.8% decline between 2020–21 and 2021–22. This decline may make it challenging for firms to meet hiring goals.
However, there are signs of improvement. In the 2024–25 school year, accounting enrollments grew 12% year-over-year across two semesters, reflecting efforts to strengthen the student pipeline.
“We’ve seen an increase in entry-level pay, more objective narratives about opportunities in the profession, and a renewed commitment to reduce some of the costs and administrative hurdles to becoming a CPA,”
-Jan Taylor (AICPA’s academic-in-residence)
The CPA exam also saw fluctuations in recent years. In 2023, the number of candidates surged to 42,626, a level not seen since 2016. In 2024, however, the number of candidates dropped 34% due to major changes in exam requirements, including new competency demonstrations in audit, tax, and technology. The spike in 2023 may have reflected candidates rushing to take the “old” exam before the changes took effect.
Though it is taking some time for supply to meet demand, the accounting profession is showing positive momentum.
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