Do you know where your staffers are? 1 in 3 CPAs is looking for a better job.

A new study by the American Institute of Certified Public Accountants reveals that a significant number of CPAs are actively seeking to advance themselves within the profession, driven by desires for fresh professional challenges, additional career achievements and new work/life priorities.

Key findings of the exclusive AICPA Career Outlook Study 2003 include:

* Most CPAs appear committed to their choice of profession. Some 61% are "mostly" or "completely" satisfied.

* CPAs are well aware of uncertainties in the overall economic climate and the challenges faced by their employers. Nevertheless, almost half remain "very" or "highly" confident in the employment outlook.

* More than one in three CPAs is actively considering a job change. About 37% think about it "frequently" or "always."

The study was undertaken to analyze the job satisfaction, workplace confidence and career development issues of AICPA members, and to provide insight into job-seeking and recruitment trends.

JOB SATISFACTION

The AICPA Career Outlook Study 2003 found that CPAs at not-for-profit organizations and practitioners in public accounting firms express levels of satisfaction higher than the norm for all CPAs. Those in government, in business and industry, and in education report below-average satisfaction. On a scale of 1 to 5, respondents to the survey scored a Mean Job Satisfaction Index of 3.5. (See Exhibit 1: Job Satisfaction, by Sector)

While most CPAs are more than satisfied with their current jobs, veteran CPAs, those 60-years-old or more, appear to be the happiest, with 68% reporting they are "very" or "completely" satisfied. Their high satisfaction levels appear to be directly related to their rank and authority in their workplaces, because they generally occupy the most senior positions in their companies or own their own firms. It is worth noting that satisfaction levels are also relatively high among CPAs Who are in their 20s, and in the early stages of their careers. (See Exhibit 2: Job Satisfaction, by Age)

WORKPLACE CONFIDENCE

While 51% of CPAs said they were "very confident" or "highly confident" about their career prospects, CPAs working in not-for-profits demonstrate the highest levels of career confidence, 3.6 on a five-point index, followed, in order, by those working in public accounting and government (both 3.5), and by those in business and industry and in education (both 3.4). (See Exhibit 3: Career Confidence Index, by Sector)

To be sure, certain sectors of the profession show marked levels of anxiety among CPAs. The sense of concern appears particularly evident at smaller CPA firms. One out of six CPAs (17%) at firms with fewer than 100 employees expresses worries, compared with 9% at firms with more than 100 employees.

The study also illuminated the career pressures that seem to fall most harshly on middle management professionals. CPAs who classified themselves as "senior executives" or "managers" were significantly more likely than "partner/owners" to report significant levels of concern about their careers. (See Exhibit 4: Career Confidence Index)

Looking closer, CPAs at the largest firms (more than 1,000 employees) are on average 5% more confident than those at small firms, and nearly 10% more confident than those at mid-size firms. Low levels of career confidence at mid-size firms appear to parallel relatively low levels of job satisfaction at the same-sized firms.

CAREER STRATEGIES

Regardless of their career confidence outlook or job satisfaction levels, more than one-third of today's CPAs (36%) report they are "frequently" or "always" looking for new job opportunities.

On further analysis, the study shows that CPAs in business and industry are the most active job-seekers. About 41% of them are looking "frequently" or "always," compared with just 25% in public practice and 21% in the not-for-profit sector. (See Exhibit 5: Active Job Seekers, by Sector)

Regardless of the sector, CPAs at larger organizations are somewhat more likely to be looking for new employment opportunities than CPAs at smaller organizations. In addition, CPAs in the 30-to-39-year-old age range are the most likely to be looking frequently for new career opportunities than colleagues in other age groups. And CPAs at the senior executive level are more active than at any other position.

In all, the study suggests that many of the profession's most able and marketable CPAs are poised to jump to a new job as soon as the business climate clears.

METHODOLOGY

Nine hundred Journal of Accountancy readers representing a cross-section of the AICPA membership were requested by email to respond to the online survey. The survey was launched March 3, 2003, and was closed on March 19 with 247 completed responses. Respondents were invited to provide additional comments and were assured of confidentiality.

Quote, Unquote 

Verbatim responses from the AICPA Career Outlook Study 2003

"Even in a tight job market, I find there is always a need for a talented CPA. I recommend to anyone interested in a professional accounting career that the individual get a CPA because CPA's are more marketable than accountants."

--Senior manager in industry, age 30-39, company with 500-999 employees.

"As CPAs, we in this profession have valuable, specialized skills and experiences to offer, and they seem to be much appreciated."

--Not-for-profit executive, age 50-59, organization with 25-99 employees.

"In my current position, I am an account analyst working with a major company's 401(K) and pension plans. My CPA and auditing background together with my MBA have given me well-rounded career experience."

--Staff CPA in industry, age 40-49, company with more than 1,000 employees.

"Being a CPA has given me the opportunity to contribute to this world in many wonderful ways. I was able to teach at a college and have my own business when my children were young, I worked for several years in public accounting, and I am now the director of a regional not-for-profit organization. I'm also able to offer my accounting skills to our community organizations and to our church/diocese."

--Not-for-profit executive, age 50-59, organization with under 100 employees.

"I totally enjoy what I do. I just long for flexible/reduced hours. I no longer want to work the traditional work week and overtime. 99

--Manager in public accounting firm, age 40-49, under 25 employees.

"The current economic conditions have been very hard on businesses, which creates some uneasiness in our careers."

--Industry, senior executive, age 30-39 at company with fewer than 500 employees.

"My company is up for sale in a consolidating industry. If not for this, I would be more confident and satisfied."

--Sr. Executive, age 40-49, firm with 500-999 employees.

"The salary levels in public practice aren't comparable to industry levels, especially in relation to the experience and certifications obtained in public ...

--Manager, tax/accounting firm, age 30-39, 25-99 employees.

"I always keep an eye on the job market. I enjoy my current position and responsibilities, but feel I am significantly underpaid."

--Staff CPA in her 30s, bank trust/tax department.

"Our company is struggling significantly and may not survive, causing me to feel uncertain about the future and that I need to begin job searching."

--Industry senior executive, under 25 employees.

Exhibit 1: Job Satisfaction, by Sector

Not for Profit        3.8
Public Accounting     3.6
Government            3.5
Business & Industry   3.4
Education             3.3

0=Least Satisfied

5=Most Satisfied

Note: Table made from bar graph.

Exhibit 2: Job Satisfaction, by Age

Under 30   68%
30 to 39   60%
40 to 49   63%
50 to 59   56%
Over 60    86%

Note: Table made from bar graph.

Exhibit 3: Career Confidence Index, by Sector

Not for Profit        3.64
Public Accounting     3.54
Government            3.50
Business & Industry   3.44
Education             3.38

Note: Table made from bar graph.

Exhibit 4: Career Confidence Index

Partner/Owner   3.9
Sr. Executive   3.4
Manager         3.3
Staff           3.5

0=Least Confident

5=Most Confident

Note: Table made from bar graph.

Exhibit 5: Active Job Seekers, by Sector

Business & Industry   41%
Education             38%
Government            31%
Public Accounting     26%
Not for Profit        21%

Note: Table made from bar graph.

Hank Berkowitz is AICPA director of business development. AICPA Custom Media Solutions which prepared this special report expressly for publication in the Journal of Accountancy, is solely responsible for its content. [C] Copyright 2003 AICPA. All rights reserved. For more information, contact Mr. Berkowitz, at [e-mail].