Wednesday, January 23, 2008

Pay Pressures in the Bay Area

CPAs in California's Bay Area are earning more than their peers elsewhere in the U.S. - and nearly 20 percent more than those in Southern California. Nearly a third would jump to another firm as a way to boost their salaries still higher. The findings didn't surprise Rich Williams, president of recruiter Kula Consulting, which conducted the "non-scientific" survey of 325 accountants. "What we're seeing is baby boomers retiring at a faster rate than they are being replaced," he says. "The number of CPA certificates awarded in California has remained flat at less than 3,000 a year for the past 10 years - and we've seen no indication this number will rise." That's not great news for anyone looking to hire accountants. "Companies can expect the seller's market to continue for 2008," Williams predicts. "I suggest companies spend time today with their accounting staff and find out what it will take to retain them - and give it to them."

More tidbits from around the country in our weekly roundup. It's here.

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