Accounting Graduates Drop By Highest Percentage in Years

The pool of U.S. students who completed accounting degrees dropped sharply in the latest available academic year as more workers in the profession retire without an adequate pipeline of entrants to fill the gap. From a report: Roughly 47,070 students earned a bachelor's degree in accounting in the 2021 to 2022 academic year, down 7.8% from the prior year, according to an annual report released Thursday by the American Institute of Certified Public Accountants, a professional organization. About 18,240 students received a master's degree in that academic year, down 6.4% from the prior year. That is compared with drops of 2.8% and 4.7% for graduates with bachelor's and master's degrees in accountants in the prior-year period, respectively. Overall, the number of U.S. accounting graduates with either degree dropped 7.4% to 65,305 in the 2021 to 2022 year, the largest drop in a single year since at least the 1994 to 1995 year, when 51,622 students graduated in accounting, a review of AICPA data showed. Fewer people are selecting accounting as their career, citing low salaries compared with industries such as tech and banking. Young workers are wary of the requirement of 150 college credit hours for getting a certified public accountant license, posing additional costs and time commitment.

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