New CPA Recruits Choose Growth Potential Over Compensation

CPA firm partners believe compensation is the driving force behind a new recruit’s decision to join and stay with the organization. But young professionals say that’s not the case, that growth opportunities are the principal factor.

These differing perspectives are among the key findings of the Top Talent Study conducted by the Private Companies Practice Section (PCPS) of the American Institute of Certified Public Accountants (AICPA).

Among the survey participants, 93 percent of partners identified salary as the top motivator, while 80 percent of young professionals pointed to the chance to advance in the firm. In contrast, salary was ranked third by the new accountants, and the partners placed career growth at number four.

“While there is no lack of young talent seeking employment, CPA firm leaders must understand what drives new professionals to join and stay at their firms,” said James Metzler, AICPA Vice President – Small Firm Interests. “To enable our members to better understand the
needs of the best and brightest, the AICPA learned about the attitudes and aspirations of the most promising young accounting professionals.”

According to the survey results, the top five reasons new talent joins a firm are growth opportunities, paid personal/vacation time, salary, respect for the company mission statement, and interesting and challenging projects. In contrast, partners felt new recruits joined their firms for the following reasons, ranked in order of preference: salary, medical benefits, paid personal/vacation time, growth opportunities and paid overtime.

Partners and young professionals, however, do see more eye to eye when evaluating the reasons why new hires stay with a firm. Both groups listed four of the same top five reasons: respect for the company’s mission statement, career growth opportunities, salary, and interesting and challenging projects.

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