Illinois Firms Overlook 150-Hour-Rule

Remember the controversy surrounding the 150-hour-requirement several years back when states began implementing the rule to sit for the CPA Exam?

In Illinois, when the five-year-plan becomes reality in January 2001, CPA firms who hire recent graduates say they will continue hiring graduates regardless if the potential employee has 150 hours or not.

This and other opinions were revealed in a new survey conducted by the Illinois CPA Society and Illinois College. According to the survey, 95 percent of the 40 largest CPA firms in the state will continue to hire 120-hour graduates after the new rule kicks in next year.

Pay scale, however, is favorable for those with more undergraduate hours. Sixty-four percent of the firms also said they would offer anyone with 150 hours a 10 percent increase in pay, and 17 percent said they would offer a 20 percent increase.

The survey was distributed to 63 firms in Illinois, excluding the Big 5.

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