The Accountant Shortage: Why Now Is the Best Time to Enter the Field

If you’ve been thinking about a career in accounting, you picked a good time to pay attention. The country is running short on accountants — and that gap is only getting wider.

This isn’t a niche concern buried in a trade publication. It’s showing up in corporate hiring struggles, small business owners doing their own books out of necessity, and accounting firms competing over the same shrinking pool of candidates. According to the American Institute of CPAs, the number of students sitting for the CPA exam has declined significantly over the past several years. At the same time, a wave of experienced professionals is heading toward retirement.

What that means for someone just starting out: there are more open seats than there are qualified people to fill them. If you want a career with real stability, solid pay, and genuine room to grow — accounting deserves a serious look.

Why So Many Firms Are Struggling to Find People

The shortage didn’t happen overnight. A few things converged at once.

First, the Baby Boomer generation — which makes up a significant portion of the current accounting workforce — is retiring at a steady pace. The profession has long depended on a stream of new graduates to replace those positions. That stream has slowed.

At the same time, fewer students are choosing accounting as a major. Part of this comes down to perception: accounting has a reputation for being dry or narrowly focused on taxes. That image doesn’t match what accountants actually do day to day, which is far more varied and strategic than most people expect.

There’s also the CPA exam’s 150-credit-hour requirement, which adds time and cost to an already demanding credential process. According to the AICPA Pipeline Report, this has discouraged some candidates before they even get started. The profession is actively exploring solutions — but employers need people now, not later.

For anyone ready to step in, the timing is hard to ignore.

What the Numbers Actually Say

The data backs this up. According to the U.S. Bureau of Labor Statistics, employment for accountants and auditors is projected to grow 5% from 2024 to 2034 — faster than the average for all occupations. That adds up to roughly 124,200 job openings every year throughout the decade, driven by both new positions and the ongoing need to replace retiring workers.

Metric	Data	Context
2024 Median Annual Salary	$81,680	65% above the national median for all workers
Projected Job Growth (2024–34)	5%	Faster than average for all occupations
Avg. Annual Job Openings	124,200	Includes new jobs and replacement openings
Top 10% Earners	$141,420+	With experience and credentials like the CPA
Total Jobs in Field (2024)	1,579,800	One of the largest professional occupations in the U.S.
Source: U.S. Bureau of Labor Statistics, Occupational Outlook Handbook, Accountants and Auditors, 2025.

Those 124,200 annual openings include roles across public accounting firms, corporations, government agencies, nonprofits, and small businesses. The demand isn’t concentrated in one corner of the economy — it’s spread across all of it.

What Accountants Actually Do (and Why It’s More Interesting Than You Think)

Here’s what surprises most people new to the field: accounting is not just taxes. And it’s not sitting alone with spreadsheets all day.

Accountants work across nearly every industry — healthcare, nonprofits, government, tech, entertainment, manufacturing, and more. Some help businesses understand where they’re losing money and how to fix it. Others work in forensic accounting, which involves tracing financial fraud and sometimes testifying in legal proceedings. Management accountants help executives make decisions by turning raw financial data into clear, actionable strategy. And yes, some specialize in taxes — but even tax accounting has a sophisticated advisory dimension most people don’t see from the outside.

The common thread: every organization of every size needs someone who understands the money. Where it’s coming from, where it’s going, and what to do about both. According to the BLS Occupational Outlook Handbook, accountants today are also using AI tools and automation to handle routine tasks — freeing them up for the analysis and advisory work that actually requires judgment.

If you’re drawn to problem-solving, you like working with details, and you want a career where your skills are useful across industries, accounting has more range than its reputation suggests.

What You Can Earn

Salary is one of the more compelling arguments for this field. The Bureau of Labor Statistics reports the median annual wage for accountants and auditors was $81,680 in May 2024 — roughly 65% above the national median for all workers. The top 10% in the field earned more than $141,420.

Accountants in finance and insurance tended to earn the most, with a median of $87,980. But strong salaries exist across sectors. And because accounting credentials are portable — meaning your skills are needed in hospitals, law firms, tech companies, and government agencies alike — you’re not dependent on any single industry’s fortunes.

Entry-level salaries are lower, but the trajectory is solid. Pursuing credentials like the CPA license can significantly boost earning potential over time. For a career that doesn’t require a graduate degree to get started, those numbers hold up.

Your Path at Bryant & Stratton College

Bryant & Stratton College offers two accounting programs designed for different goals — both built to give you applicable skills from day one.

The Associate of Applied Science (AAS) in Accounting is a two-year program that gets you into the workforce quickly. It covers core accounting fundamentals — financial reporting, payroll, tax preparation, and computerized accounting systems — and prepares you for entry-level roles in bookkeeping, accounts payable and receivable, and accounting support. It’s a practical foundation that can also serve as a stepping stone toward a bachelor’s degree.

The Bachelor of Business Administration (BBA) in Accounting goes deeper, preparing graduates for advanced positions in public, managerial, and governmental accounting. Coursework includes financial analysis, auditing, cost accounting, and business law — the kind of curriculum that builds toward CPA eligibility and opens doors in corporate finance, consulting, and leadership roles.

“In practice we are seeing a decrease in candidates for accounting positions. I think it’s partly attributable to an old mindset that accountants must start out in public accounting which often demands very long hours. This however is not a real requirement, and there are endless career routes students can take with an accounting degree that have great work life balance,” says Kelsi Linton, Accounting Adjunct Professor, Bryant & Stratton College. “Accounting is an incredible foundation for job seekers in the business field.”

Both programs are built around what employers actually need. You’re not learning accounting in a vacuum — you’re learning it in the context of how it gets used in real organizations.

Online or On Campus — Either Works

One thing that holds a lot of people back from going back to school is the logistics. Bryant & Stratton College offers both online and campus-based options, so you can choose the format that fits your life. Online students get the same curriculum and the same faculty access as those who attend in person. If you need flexibility because of work, family, or location, online coursework makes it possible. If you learn better in a structured classroom with instructors you can see face-to-face, campus programs are available.

The point is that the degree can work around your schedule — not the other way around.

Take the Next Step

The accountant shortage is real, it’s documented, and it’s not going away anytime soon. For someone ready to enter the field — or make a change — that’s genuinely good news. The demand is there, the pay is competitive, and the work itself has more variety and career mobility than most people expect.

Bryant & Stratton College has accounting programs built to meet you where you are, whether you’re starting fresh with an associate degree or going all the way through a bachelor’s.

Ready to get started? Apply for free today or request more information about which accounting program is the right fit for you.