As baby boomers retire from the accounting profession in large numbers, Gen Z is stepping in to breathe new life into the field. With 340,000 retirees in just five years, accounting faces a significant talent shortage, and for many young professionals, it is an opportunity for six-figure careers and tangible impacts. Students like Alana Kelley are redefining the role, helping clients in their communities through initiatives like the Volunteer Income Tax Assistance program. This generational shift aims to combat the perceived dullness of accounting and address the looming skills gap as a majority of current accountants plan to retire soon.
Faced with a major talent shortage, the field is getting an unlikely image makeover, thanks to savvy young students who see balance sheets not as tedious but as tickets to six-figure careers and real-world impact.
'Accounting is the science of the business world,' Alana Kelley, a third-year accounting major at OSU, told Fortune. You can make a meaningful difference in people's lives.
While baby boomers are clocking out of the accounting profession in droves - with 340,000 ditching the gig in just five years - Gen Z is jumping into the spreadsheet saddle.
Some 75% of accountants still in the game are expected to retire within the next decade, leaving a significant gap that Gen Z aims to fill.
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