Total interest in accounting careers has risen across Hispanic, Asian American Pacific Islander and white students since 2021, while Black students have shown a minimal decrease in interest.
The Center for Audit Quality and Edge Research surveyed 3,487 high school and college students for the latest edition of their annual Expanding the Accounting Profession Pipeline report.
Thee research indicates that Hispanic students have shown the most significant increase in interest — with their familiarity with accounting increasing from 37% in 2021 to 50% in 2024, and total interest rising from 29% to 37%. Meanwhile, Black students have been the hardest group to move, with familiarity shifting from 40% to 40%, and total interest tapering off from 33% to 32%. AAPI students’ familiarity rose from 34% to 43%, and their total interest rose from 23% to 34%. White students’ familiarity increased from 45% to 49%, and their total interest rose from 28% to 33%.
Courtesy of the Center for Audit Quality
Exposure to accounting is a significant influencing factor on student interest. The data shows that Black students are the least likely to know an accountant personally (29%), compared to Hispanic students (37%) and AAPI and white students (38%). Additionally, Black and Hispanic students have less access to high school accounting courses (37% and 40%, respectively) but show equal interest when such courses are available.
In terms of perception, the research found improvements across all demographic groups, particularly in how they view accounting’s value proposition, long-term earning potential and work-life balance. The percentage of students who agreed that accounting careers offer good long-term earning potential increased 8.5 points on average across all groups from 2021 to 2024. And the percentage of students who see accounting careers as stable or always in demand increased 6.5 points on average across all groups.
However, starting salaries that are not competitive compared to jobs in finance and tech remain a hurdle to recruiting efforts. This is particularly true for recruiting Black students, where 31% strongly agree they can make a higher starting salary with a major or concentration other than accounting, and 60% who strongly/somewhat agree. The concern about compensation is least pronounced among white students, with 22% strongly agreeing with the aforementioned statement, and 56% strongly or somewhat agreeing.
(Read More: “The 2024 Accounting Today Salary Survey: Partners pinching pennies”)
The report identified 10 key implications and opportunities from its research:
Economic messaging resonance;Industry alignment;Targeted outreach to Black students;Focus on gender parity;Barrier reduction;Early exposure;Digital first engagement;Parent and counselor education; and, Salary transparency.
“In a time of economic uncertainty, young people are making deliberate choices to prioritize stability and flexibility in their careers like never before,” Liz Barentzen, vice president of talent at the CAQ, said in a statement. “This presents a challenge, but also a tremendous opportunity for the accounting profession. For students, especially those from underserved communities, this isn’t just about employment. It’s about building a future and creating generational wealth.”
