Present, Future Looking Good for Accounting Grads & Professionals

Things are looking good for accounting professionals these days. Confidence among accounting and finance workers increased 8.7 points to 112.6 in January, according to the Hudson Employment Index. In addition, results from a survey of chief financial officers (CFOs), conducted by AccountTemps, reveal that today’s accounting graduates are equally or better prepared for their careers than they were ten years ago.


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Accountants Optimistic

Confidence among accounting and finance workers in January reached the highest level since June 2005, despite rising only 0.2 from December’s level. The overall Hudson Employment Index fell 0.8 points to 102.6 during the same period, indicating accounting and finance workers are more optimistic about their personal finances, job security and job satisfaction than their peers in other industries.

The Hudson Employment Index for accounting and finance workers also showed:

  • A four-point increase, to 58 percent, in the number of workers rating their finances favorably.
  • The number of accounting and finance workers rating their personal finances unfavorable dropped below 40 percent.
  • Half of those accounting and finance workers surveyed indicated their financial situation was improving, compared to only 45 percent in December.
  • The number of accounting and finance workers reporting their financial situation was worsening dropped by four points, to 33 percent.
  • Nearly three-quarters (74 percent) were happy with their current job, compared to only 68 percent in December.
  • More than one-third (34 percent) expected hiring to increase.
  • The number of accounting and finance workers concerned about their jobs declined by four points, to 18 percent.

Accounting Graduates: Ready for the Real World

“In your opinion, how prepared are today’s accounting graduates for careers in accounting and finance compared to 10 years ago?” AccountTemps recently asked 1,400 CFOs across the country.

Nineteen percent of those surveyed said that graduates were much more prepared. Even more, 23 percent, responded graduates are somewhat more prepared, while 29 percent believe they are equally prepared, compared to 10 years ago. Less than 10 percent believe accounting graduates are less prepared. Twenty percent report they don’t know.

“Colleges and universities are responding to changing accounting landscape,” said Max Messmer, chairman of AccountTemps and author of Managing Your Career For Dummies(R) (John Wiley & Sons, Inc.). “More courses are being offered in areas such areas as internal audit, enterprise risk management, forensic accounting, information technology and business ethics.”

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