Starting Salaries Increase for Accounting Grads

Accounting firms lead all other employers in hiring new college graduates according to the summer 2005 issue of Salary Survey of the National Association of Colleges and Employers (NACE), the Westchester County Business Journal reports. Starting salaries for new hires in accounting will average $43,370, an increase of 5.3 percent over last year.


Advertisement


Click Here
Cougar Mountain has all the features of the high-end accounting products at an affordable price. Fully integrated modules including our award-winning Point of Sale product mean you only enter data once - saving time and ensuring accuracy. Cougar Mountain is the answer for small to mid-sized businesses that have outgrown their initial accounting package.
Learn more!


Cougar Mountain Home Cougar Mountain Accounting
Sign up for a Web Demo Cougar Mountain Point of Sale
Request a Call Cougar Mountain FUND



Competition in the profession for new hires is matched by recruiting at all levels. Companies routinely try to steal each other’s employees, says The Detroit News.

“On more than one occasion, competitors have solicited from our firm. It used to be frowned upon. Now it’s open season.” Bruce Malott told the News adding that retaining people and hiring new graduates was the first priority of his firm.

Salary increases for business administration and management majors averaged a more modest 3.6 percent according to the NACE survey. Enrollments in MBA programs have declined in recent years, according to BusinessWeek. Some schools have introduced more specialized programs to attract new students, many of whom will go on to careers in consulting. For instance, Wisconsin-Madison’s School of Business now offers 13 distinct MBA degrees including arts management and applied corporate finance. But creating niche curriculums is risky.

“B-schools need to ensure they’re giving their students well-rounded capabilities," Rich Schneider, a principal at Deloitte Consulting LLP, told BusinessWeek. "We’re still looking at the things we were looking for 30 years ago.”

Real world experience is also important to the business student of today. The Kelley School of Business at Indiana University (IU) has established the Johnson Center for Entrepreneurship and Innovation where students work with IU life science researchers from the University’s medical school to create companies from their research, according to a report from Indiana University. Students at Minnesota’s Carlson School of Management spend 20 hours a week for three semesters working as consultants at some of the world’s biggest companies, BusinessWeek reports.

Ironically, the fact that large numbers of students are now entering accounting programs can probably be attributed to the publicity surrounding Enron and WorldCom.

“It raised the level of curiosity," Bruce Malott told the Detroit News. "The result is we have packed classrooms.”

You may like these other stories...

For the first time in the five-year history of Vault.com’s rankings of the top 50 accounting firms to work for in North America, a firm has held the top spot as best accounting employer for two consecutive years....
With complex financial issues playing a larger role in litigation, and people increasingly turning to CPA experts to involve themselves in everything from criminal investigations to shareholder disputes to uncovering assets...
 Event Date: April 24, 2014 In this session Excel expert David Ringstrom, CPA introduces you to a powerful but underutilized macro feature in Excel. David will introduce the Macro Recorder, which transforms actions...

Upcoming CPE Webinars

Apr 17
In this exciting presentation Excel expert David H. Ringstrom, CPA shares tricks that you can use with pivot tables every day. Remember, either you work Excel, or it works you!
Apr 22
Is everyone at your organization meeting your client service expectations? Let client service expert, Kristen Rampe, CPA help you establish a reputation of top-tier service in every facet of your firm during this one hour webinar.
Apr 24
In this session Excel expert David Ringstrom, CPA introduces you to a powerful but underutilized macro feature in Excel.
Apr 25
This material focuses on the principles of accounting for non-profit organizations' revenues. It will include discussions of revenue recognition for cash and non-cash contributions as well as other revenues commonly received by non-profit organizations.