Accounting students, here’s a good news! As per the U.S. Bureau of Labour Statistics “Employment of accountants in the US is projected to grow at a rate of 6% from 2021 to 2023, on par with the average for all occupations.” This significant growth can be attributed to the increasing shortage of accountants.
Let’s Unveil the Reasons and Implications:
The American Institute of Certified Public Accountants (AICPA) reports a decline in the number of graduates with accounting degrees and a drop in CPA exam takers and pass rates. This trend, coupled with the findings of a Deloitte poll revealing talent retention challenges for accounting and financial positions, highlights the rising demand for CPAs in both the public and private sectors.
“82% of hiring managers for accounting and financial positions at public companies and 69% at private companies said talent retention is a challenge.” – Deloitte
However, with Miles Education, Indian accountants now have a pathway to work in the US accounting industry. This opportunity not only provides candidates with a global perspective and exposure to international business practices but also creates an environment conducive to professional growth, innovation, and diverse opportunities for personal and career development.
To sum it up:
The shortage of accountants presents a unique opportunity for aspiring professionals considering a career in accounting. By pursuing the CPA designation, individuals can position themselves as highly sought-after assets in the industry.
With our distinction as India’s largest CPA review for over a decade, we have simplified the process for Indian accountants to work in the US, making it as straightforward as it is for engineers to pursue opportunities in the country.
We have collaborated with US universities to include Business Analytics in Master’s programs for Finance and Accounting. As a result, these programs are now recognized as STEM courses (Science, Technology, Engineering, and Mathematics).
This exciting development means that alumni of Miles who choose this program will be eligible for the same 3-year work permit in the US as engineers! Click here to know more