More than 64,000 students graduated with bachelor’s and master’s degrees in accounting during the 2006-2007 school year, reports the AICPA. That's the highest number in the 36 years since the association began keeping count. It also represents a 19 percent increase from 2003-2004, which was the last time the AICPA conducted its survey on accounting graduates.
The number of students in accounting programs is also higher: The 203,000 students enrolled during the year was also a 19 percent increase from 2004.
It's an indication the industry's efforts to increase the pipeline of new accountants are paying off, and a sign that indeed the current imbalance between demand and supply may eventually get itself resolved.
The AICPA's press release is here (in pdf format).
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Yes, the imbalance between demand and supply will get corrected. The double whammy of more graduates from more and more schools and the recession and layoffs in the firms mean that only the top most graduates will get a chance with the largest firms. And for how long? Sorry to be pessimistic, but students may need to redirect to industry and wait to get that Big 4 experience. Industry is still in dire need of more accountants, and will hire them, as long as the companies can readjust their expectations about them coming in ready trained by the Big 4.
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