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Why Young People Avoid or Are Leaving Accounting in 2025?

Accounting Voices

20,096 views

What’s next for accounting in 2025? Let’s talk about it.

In this video, Jeff and I explore how private equity is disrupting the industry, why compensation remains a challenge, and why the return-to-office debate just won’t go away. We’ll dive into practical solutions for firms to tackle these issues and truly attract top talent. The goal? To build a better future for the profession.

00:00 - Was 2024 good or bad for accountants?
00:37 - How did layoffs and RTO mandates shape 2024?
01:14 - What trends will define accounting in 2025?
02:20 - How can accounting attract young talent?
03:23 - Why does accounting need a stronger brand?
04:30 - How can pay fix the talent gap?
05:32 - How is private equity changing accounting?
07:08 - What does PE mean for small firms?
08:58 - Why are exit strategies key for firm owners?
10:08 - How does PE improve career paths?
11:12 - Will RTO hurt talent retention?
12:41 - Why are fewer people joining accounting?
15:11 - How can firms cut turnover?
17:22 - How will AI transform accounting jobs?
18:57 - Why is accounting ideal for entrepreneurs?

Check out the Accounting Influencers Podcast for more.

Hosted by Rob Brown, a renowned speaker and expert on talent, careers, and leadership in accounting. Rob is the author of Build Your Reputation and delivers high-level talks worldwide.

#accountingsuccess #privateequity #aiinaccounting

20 Comments

@Philosific 1 year ago

Lol i was thinking of accounting as a possibility. After reading the comments here, i think leave it alone 😂

@ikaZi84 1 year ago

Entry level pay is literal trash and doesn't afford basic necessities like food, much less housing. Entry level work/life balance is awful, and precludes any possibility of having a social life, much less a family life. The few entry level positions that exist are being filled with offshored labor, which will mean even worse working conditions for entry level employees when offshore companies' incompetence creates issues in the future. The AICPA might actually HATE young people in the US and will do everything and anything possible to screw them over when possible. If you don't live in a major metro, this entire industry is a complete non-starter. Period. Full stop. Don't even try if you can't relocate unless you want to live with your parents making $13/hour at a local firm that only asks for 50 hours per week during peak.

@roz_c7231 1 year ago

Pay, pay, pay. Pay people more. Especially the entry level and jr level positions. I've been in this industry for over 10 years and I'm only now getting $30/hr. It's sad. It's crazy. Degrees are expensive, CPA exam requires almost master's, the study prep is INSANE, the exams cost too much. And for shit pay. PAY YOUR PEOPLE MORE AT THE BOTTOM, NOT THE TOP!!!!!

@SeanGoedinghaus-po4ni 1 year ago

I became an accountant as my second career and it was a mistake. I’m currently working on going back to what I was doing before accounting school. People refusing to become accountants is an example of the marketplace working.

@KennyJacobs 10 months ago

I have worked in financial services in the retail brokerage space for my entire professional career. I've decided to pursue the CPA. Had interview for MS Accounting program last week. Seeing some of the comments here is interesting. The same themes expressed in the comments apply to so many industries. I think what it ultimately comes down to is finding something you will enjoy then make a life around that.

In my career, I've had to tell many clients they will need to speak to a tax advisor or CPA about their question, even if I knew the answer. I'm pursuing the CPA because I want to be able to answer those questions and not have to refer a client elsewhere.

It will also be an interesting time to move into accounting as AI will obviously have an impact on the day to day of an accountant.

Considering the time and cost commitment, I hope I don't regret the decision as many here in the comments have shared.

@karlstrauss2330 1 year ago

Now that IT is oversaturated with excess labor, I fear Accounting will be the next big thing corporations will push for.

@workinperkins 1 year ago

Interesting, considering the multifaceted functionality of accounting.

@Evers406 1 year ago

Seriously? Something more alluring would be the ability to get a job after the accounting degree is earned. Recent accounting students with degrees can't get experience. Even AP clerk positions are requiring years of experience while paying under $20 an hour in California. What's the point of the AICPA making the exam more accessible when people can't get the work requirement for the license fulfilled? If you're lucky enough to get a job where you work under a CPA, what are the chances that CPA will be qualified to sign off on your hours if you're not at a big 4? Why are the "experts" not concerned about this?

@GenesisT-M1911 1 year ago

Only a few businesses pay accountants decent. Most accounting jobs out there pay garbage . Plus, work life balance is nonexistent. Then on the job training sucks no one wants to train. If I could go back in time I would have done something else. No one wants to pay accountant decent but then they wonder why there’s a shortage of them. Then companies outsource. Why even bother to take the CPA ? The rate of return is not what it used to be.

@jonathankay9957 1 year ago

"We have research into forming a task force to do a deep dive into..."

Raise pay and lessen the barriers to certification. Why is this so effing hard?

@introvertdude99 1 year ago

They are all trying to get into Tech but tech is a terrible field to get into especially now. Accounting is safe and needed.

@Dazzler233 1 year ago

I've been in nursing for the last 8 years and have started studying for the CPA program. Accounting was always my "other" choice and the reason I've decided to switch now is I'm looking for a career that offers a more structured workplace. I'm someone who will reference policies and rules. Nursing is so chaotic so often while working with skeleton staff which makes people cut corners often. I'm hoping that a career in accounting will allow me to find workplaces with companies that have structure in their organizations and rules/regulations to follow. Any comments about whether accounting sounds like what I described I'm looking for are awelcome.

@marcosguimaraes7616 1 year ago

By the way thanks for your channel.

@ForNoOne1981 1 year ago

Between AI and offshoring entry level jobs will be harder to come by. It's already happening. Our firm is half the size it was 25 years ago and we do more audits - we also don't work as many hours.

@86Disab 10 months ago

I will be starting an accounting degree in January at age 39. As a contrarian investor and individual, I love hearing all the things you've shared. More and more people are taking the easy path in life (which, of course, is the harder path) and that means, people entering fields like accounting and stick out the tough times benefit.

@steakyum2 1 year ago

It's the most toxic industry I've ever worked in and you're paid average. I wouldn't recommend it to anyone.

@TrueNorthPolitics1 6 months ago

Experience is valued more than a degree. And the CPA shortage is worsening

@levernfitzpatrickjr.2787 1 year ago

Is it WORTH pursing this profession though? Considering AI and the years to come of technology that has YET to unfold! Why not just go for data science, AI and machine learning, careers that pose no threat of becoming obsolete or replaced! Add to the fact that the earning potential is way higher with LESS work? I’d love to pursue this degree coming from community college with an associates in business admin with the potential to go to a university for 2 more years to obtain a BS in accounting but im HIGHLY reconsidering this route. Thoughts?

@dees900 1 year ago

I'm studying accounting at university in Canada. Everywhere they are saying accounting responsibilities will be replaced by AI. This is creating fear & insecurities among ourselves!!!

@whodidit99 10 months ago

Was a CPA, semi-retired. I found these "accounting in crisis" videos by mistake. I'm shocked. Accounting used to be much sought after career. With the dearth of CPAs, in a few years when the 70% who are 60 and older retire, the CPA will be in HIGH DEMAND. Don't think short time, but long term. Also, it's CPA or bust! If you aren't willing to make the sacrifice to become a CPA, then find another profession. Last bit of advice - if you don't like accounting don't do it: It's a demanding job and if you hate accounting you won't last more than a few years.