Franklin in Fortune: Robust Job Market for Accountants
March 31, 2011
The job market for new accounting grads is hot, while many other recent grads continue to find the going rough, reports Fortune magazine.
Jim Franklin, director of the Master of Professional Accounting (MPA) Program, told Fortune, “of the 330 accounting and finance majors graduating from the Masters of Professional Accountancy program at The University of Texas at Austin’s McCombs School of Business, 90 percent have already landed jobs.” And 80 percent of these graduates were hired by one of the Big Four firms.
Franklin told the magazine he believes three factors have influenced the current demand. One reason is that, “Financial services and health care are growing and those firms turn to professional service firms for assistance.” He also attributes the current high demand to increased mergers and restructuring and turnover of experienced employees.
Franklin tells Fortune that “accountants are also wanted in other industries like financial services, health care and consumer goods.” The article reports that a search conducted on Monster.com revealed thousands of openings for accountants at all levels at firms like Exelon, Aflac, Comcast and Staples.
At the current levels, graduates in accounting, finance and management will have a hard time satisfying the demand as the U.S. emerges from the most recent recession.