Illinois Firms Overlook 150-Hour-Rule | AccountingWEB

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.

Wait, there's more!
There's always more at AccountingWEB. We're an active community of financial professionals and journalists who strive to bring you valuable content every day. If you'd like, let us know your interests and we'll send you a few articles every week either in taxation, practice excellence, or just our most popular stories from that week. It's free to sign up and to be a part of our community.
Premium content is currently locked

Editor's Choice

WHAT KIND OF FIRM ARE YOU?
As part of our continued effort to provide valuable resources and insight to our subscribers, we're conducting this brief survey to learn more about your personal experiences in the accounting profession. We will be giving away five $50 Amazon gift cards, and a $250 Amazon gift card to one lucky participant.
This is strictly for internal use and data will not be sold
or shared with any third parties.