The accounting talent shortage is real, and it’s not going away anytime soon. Nationally, companies are struggling with a diminished pipeline of qualified accountants while demand for financial expertise has only continued to increase. Recent data from AICPA emphasizes a steep decline in CPA candidates, but high-growth industries continue to ramp up hiring for their accounting function, increasing competition and escalating costs to employers. However, teams that can pivot can still develop a strong, scalable finance team even in a tight labor market.
Understanding the Accounting Talent Shortage
The U.S. accounting talent shortage stems from multiple factors converging at once.
First, fewer students are pursuing accounting degrees or sitting for the CPA exam, causing incoming talent to dry up. At the same time, experienced accountants are departing traditional firms in search of increased flexibility and to avoid burnout and long hours, which further depletes the workforce.
To complicate matters further, the growing number of venture-backed startups and the rise of tech and SaaS companies have brought unprecedented demand for skilled finance professionals. The outcome is an environment where even well-funded firms are struggling to hire and retain top-tier talent, leading to significant accounting and finance hiring challenges across the board.
Why the Old Hiring Model No Longer Works
Traditional recruiting methods have become less effective. Drawing exclusively from local talent pools limits access to the skills organizations need — especially when those skills are already scarce. Lengthy recruitment cycles delay urgent projects, while rising salaries and benefits inflate hiring costs.
With outdated hiring approaches, companies risk overpaying and settling for underqualified hires who may not provide the expected level of insight and reliability. To overcome the accountant shortage, organizations must reinvent their talent strategy.
Strategies for Building Effective Teams During a Shortage
The U.S. accounting talent shortage shouldn’t slow growth or compromise a firm’s finance function. Instead, it’s an opportunity to rethink talent acquisition, leverage technology, and strengthen internal capability. Here’s how agile, forward-thinking companies are adapting:
Look Beyond Traditional Talent Pools
Expanding your search internationally can be a game-changer. Hiring outside the U.S. allows access to skilled professionals, many of whom are trained in GAAP and have experience with U.S.-based companies.
Contract and fractional roles can also quickly fill workforce gaps without full-time overhead. Diversifying geographically reduces risk and expands access to expertise.
Invest in Technology + Automation
Using AI and advanced accounting tools allows finance teams to work smarter. Routine tasks — such as reconciliations, expense categorization, and invoice processing — can be automated so accountants can focus on analysis, high-value decision-making, and client-facing responsibilities.
Technology doesn’t replace people — it amplifies them.
Upskill and Retain Existing Staff
Retention is as critical as recruitment. Reduce turnover by investing in current team members through training, flexible work options, and clear career growth opportunities.
Upskilling employees — especially in technology, analytics, and automation — strengthens capability and helps future-proof your finance organization.
Build Agile, Scalable Teams
Today’s market demands flexibility. Agile finance teams scale up or down based on workload, budget, and strategic priorities. This can include a lean in-house core team supported by contractors or global partners.
This structure preserves performance while controlling costs and reducing burnout.
Building for the Long Term
The accounting talent shortage signals a permanent shift in the labor market. Organizations that modernize hiring, retention, and operating models will be positioned for long-term success.
The Future of Accounting Talent is Global
The U.S. accounting talent shortage shouldn’t hold businesses back. Companies that embrace global hiring, automation, and flexible team structures will continue building high-performing finance organizations — regardless of market limitations.