Yes, accountants are in strong demand, and the shortage of qualified professionals is actually getting worse. The U.S. Bureau of Labor Statistics projects employment of accountants and auditors to grow 5 percent from 2024 to 2034, faster than the average for all occupations. That growth, combined with retirements and turnover, translates to roughly 124,200 job openings per year over the decade.
But the raw growth number only tells part of the story. Fewer people are entering the profession at the same time demand is climbing, creating a talent gap that has pushed up salaries and made hiring intensely competitive for employers.
Why the Shortage Keeps Getting Worse
The number of students graduating with accounting degrees has been falling steadily. In the 2023-24 academic year, just 55,152 students earned a bachelor’s or master’s degree in accounting, a 6.6 percent drop from the prior year. Bachelor’s degrees in accounting fell 3.3 percent to 40,817, while master’s degrees in accounting and taxation dropped roughly 15 percent to 14,335.
The pipeline into the CPA credential is also narrowing. In 2024, only 28,082 new candidates entered the CPA Exam pipeline, down sharply from 42,626 in 2023. Part of that drop reflects a predictable pattern: candidates rushed to take the old version of the exam before a new model launched in 2024. Still, the overall trend points to fewer people pursuing the credential that unlocks the highest-paying roles in the field.
At the same time, a wave of senior accountants and partners are reaching retirement age. Firms need to replace experienced professionals while also filling new positions created by regulatory complexity and business growth. The math simply doesn’t work with current graduation rates, which is why employers are raising pay, expanding benefits, and investing in outreach programs aimed at attracting students earlier in their college careers.
What Accountants Earn Right Now
Salaries have risen noticeably as firms compete for a shrinking talent pool. According to Robert Half’s 2026 salary data, national average starting compensation for accountants looks like this:
- Entry-level staff accountant: $54,750 to $69,000, depending on experience and certifications
- Staff accountant with moderate experience: $61,000 to $87,750
- Senior accountant: $80,000 to $109,000
- Senior accountant in financial services: $85,000 to $114,250
Entry-level roles in financial services pay a premium, starting around $61,000 and reaching $87,250 for candidates with relevant certifications. These figures represent base compensation. Many firms are also adding new benefits and perks as a retention strategy, recognizing that salary alone isn’t enough to hold onto experienced professionals who have plenty of options.
How AI Is Reshaping the Work, Not Replacing It
If you’re wondering whether automation will wipe out accounting jobs, the short answer is no. AI is changing what accountants spend their time on, but it’s not eliminating the need for them. The tasks being automated are the repetitive, low-value ones: sending invoices, reconciling bank statements, closing the books at month-end, and selecting which vendor bills to pay first. Major accounting platforms like QuickBooks, Xero, and Sage have all rolled out AI tools that compress hours of manual data entry into minutes.
What this means in practice is that the profession is shifting from data processing toward advisory work. Instead of spending the bulk of their day categorizing transactions, accountants are increasingly doing tax strategy, business planning, exit planning, and financial analysis. That shift actually makes the profession more attractive to new graduates who want intellectually engaging work rather than spreadsheet grunt work.
For people already in accounting or considering the field, the takeaway is that technical skills still matter, but the ability to interpret data, advise clients, and think strategically is becoming the real differentiator. Firms want people who can do what AI can’t: exercise judgment, build client relationships, and navigate ambiguous situations.
Which Specialties Are Most in Demand
Not all accounting roles face equal demand. A few areas stand out as especially competitive for employers trying to hire:
- Tax accountants: Tax law changes frequently, and every business and individual needs compliance work done correctly. The complexity of the tax code keeps demand for specialists persistently high.
- Auditors: Publicly traded companies are required to undergo external audits, and regulatory scrutiny across industries has only increased. The BLS groups auditors with accountants in its growth projections for a reason.
- Financial services accountants: Banks, insurance companies, and investment firms pay a premium for accountants who understand industry-specific regulations. Entry-level salaries in this niche start 10 to 20 percent higher than general accounting roles.
- Advisory and consulting roles: As AI handles more routine tasks, firms are building out advisory practices focused on business strategy, mergers, and technology implementation. These roles typically require several years of experience but offer the highest compensation growth.
What This Means If You’re Considering the Field
The combination of rising demand, falling supply, and increasing salaries makes accounting one of the more secure career bets available right now. You don’t necessarily need a CPA license to land a good-paying job. Many staff and senior accountant positions require only a bachelor’s degree and relevant experience. That said, the CPA credential remains the clearest path to the highest salaries and the most advanced roles. The profession is actively working to reduce the cost and administrative hurdles of earning that credential, which may make it more accessible in coming years.
If you’re already working in a different field and considering a switch, accounting is one of the few professions where a career changer with the right credentials can step into a role relatively quickly. With 124,200 openings projected annually and a graduating class of just 55,000, the math strongly favors job seekers for the foreseeable future.