Quick Summary
The United States is facing one of the most severe accounting talent shortages in recent history. Over 300,000 accountants have quit their jobs since 2020, while 75% of the current number of CPAs are close to retiring. Hence, American businesses find it increasingly difficult to recruit financial specialists as a result of an ongoing shortage.
Accounting staffing solutions help US businesses overcome hiring challenges by providing access to qualified accounting professionals through staffing, outsourcing, and Recruitment Process Outsourcing (RPO) models.
In this blog post, we elaborate on the problem in more detail and present the US vs India cost comparison as well as ways in which Get Workz can assist you.
The Accounting Talent Shortage in the US: A Growing Workforce Crisis
Accounting manpower shortages in the United States are not a problem that will arise in the future; it is a reality of today, and statistics confirm it. The AICPA refers to the present scenario as a “pipeline crisis,” while workforce statistics clearly indicate a decline in the number of available accountants.
| 300,000+ | 120,000+ | 75% | 20% |
| Accountants & auditors left the US workforce (2020–2024) Source: Bloomberg / NASBA | Accounting & auditing job openings per year in the US Source: BLS, 2024 | Of current CPAs Are Baby Boomers approaching retirement Source: AICPA / Kent State | 20% Decline in accounting graduates since 2010 Source: AICPA & CIMA, 2024 |
Sources: Bloomberg (2024), BLS Occupational Outlook 2024, AICPA / NASBA Trends Report 2025, Kent State University Accountant Shortage Study 2024, AICPA & CIMA Graduate Survey 2024.
The accounting talent shortage is already affecting businesses across the US. With over 120,000 accounting and auditing openings each year, a declining number of accounting graduates, and fewer CPA candidates entering the profession, companies are finding it increasingly difficult to hire qualified accounting professionals.
As a result, many businesses face longer hiring cycles, rising salary costs, increased workloads for existing teams, and greater compliance risks.
Why Is There an Accounting Talent Shortage in the US?
Understanding the root causes is the first step toward solving the problem. The accounting shortage is not a single issue – it is the result of several trends colliding at the same time:
Baby Boomer Retirements Are Shrinking the CPA Workforce
A significant portion of the US accounting workforce is approaching retirement age. As experienced CPAs leave the profession, companies are finding it increasingly difficult to replace them with qualified talent. The majority of these CPAs either have retired or are preparing to retire soon. According to the forecast by AICPA, nearly 75% of these accountants may exit the industry in the next 15 years.
Fewer Students Are Choosing Accounting Careers
There has been a decrease of 20% in the number of accounting graduates in the United States since 2010 (AICPA & CIMA). According to the AICPA Trends Report 2023, a reduction of 7.8% has occurred in accounting bachelor’s degrees, and a 6.4% reduction in master’s degrees was recorded between 2021 and 2022.
Salary Expectations and Career Alternatives
Many accounting graduates are choosing careers in technology, consulting, and finance, where salary growth and career opportunities are often perceived as more attractive. This shift has reduced the number of professionals entering the accounting field.
Burnout and Retention Challenges
According to a Deloitte survey carried out in 2022, 82.4% of hiring managers at publicly-held companies felt that retaining employees is hard, while 68.9% of those at privately-held companies also felt the same. As a result of overwork in understaffed environments, it becomes easy for people to get exhausted.
US vs India Accounting Talent: Cost, Availability, and Hiring Comparison
An approach that has been tried and tested, especially when looking at accounting shortages in the United States, is capitalizing on India’s vast pool of highly skilled and economical accounting talent. The following table compares salaries, availability, quality, and cost.
| Factor | USA (In-House) | India (Outsourced) | Key Insight |
| Average Accountant Salary (Annual) | $60,000 – $100,000 | ₹6,50,000 -₹15,00,000 | Salaries for accountants in India are around 60% to 70% cheaper, giving cost advantages. |
| Hourly Billing Rate | $40 – $80/hr | ₹700 – ₹2,100/h | Indian outsourced accounting services are around 40% to 60% cheaper. |
| Qualified Talent Pool (CPA/CA) | Shrinking talent supply | Large and expanding talent base | There are 1.9+ million financial professionals in India within GCCs and the accounting ecosystem. |
| Talent Availability | Significant workforce shortage | High availability of skilled professionals | The U.S. now has about 340,000 fewer accountants compared to five years ago, while India keeps graduating new finance professionals in large numbers. |
| Language & Accounting Standards | English proficiency, US GAAP compliance | English proficiency, US GAAP-trained professionals | It is easy for Indian accounting teams to fit into a U.S. firm environment. |
| Time Zone Advantage | Operates during U.S. business hours | 9.5 to 12.5 hours ahead of the U.S. | Facilitates overnight processing and quick turnaround for U.S. firms. |
| Overall Cost Savings | Baseline operating cost | 40 – 60% lower total cost | Significantly cuts down labour costs for U.S. companies through outsourcing. |
Sources: NASBA 2025, Wisemonk India Investment Intelligence 2026, Datamaticscpa 2025, Invedus Outsourcing Cost Analysis 2026, VJM Global Payroll Survey 2024, BLS 2024.
What Are Accounting Staffing Solutions?
Accounting staffing solutions help businesses find, hire, and manage qualified accounting professionals through permanent hiring, contract staffing, outsourcing, or Recruitment Process Outsourcing (RPO). These solutions enable companies to fill critical finance roles faster, reduce hiring costs, and maintain operational efficiency despite the ongoing accounting talent shortage.
Best Accounting Staffing Solutions for US Companies
Businesses facing the accounting talent shortage need flexible workforce strategies that balance speed, cost, and expertise. Here are four effective accounting staffing solutions used by US companies today:
Accounting Outsourcing Services
Accounting Outsourcing services allows businesses to have immediate access to experts in bookkeeping, payroll, tax preparation, financial reporting, and accounts payable/accounts receivable operations. Through outsourcing accounting services, companies are able to save money on hiring costs, be more efficient, and hire US GAAP-trained personnel.
Finance and Accounting Staffing for Permanent and Contract Roles
Recruitment agencies in finance and accounting assist organizations in recruiting accounting personnel more quickly since they offer a range of pre-screened candidates. Regardless of whether organizations require accountants, controllers, financial analysts, or CFOs, recruitment agencies have solutions for both temporary and permanent positions.
RPO (Recruitment Process Outsourcing) for Accounting Teams
RPO services support organizations hiring multiple accounting professionals at scale.
An RPO partner manages sourcing, screening, and recruitment processes, helping businesses improve hiring efficiency while maintaining quality and consistency.
Hybrid Accounting Teams: In-House Leadership with Offshore Support
Many US companies utilize the combination of their own finance department managers and offshore accountants. While the former deal with strategy planning and other important issues, the latter manage such activities as bookkeeping, payroll, reconciliation, and reporting tasks.
Whichever option you go for between outsourcing, staffing, RPO, or a hybrid service, the main advantages that will accrue to any US company working with a professional accounting staffing firm include the following:
- Quick Hiring: Take advantage of the screened accounting professionals and hire your required financial staff more quickly than you would otherwise.
- Savings of 40-60% on Costs: Get your savings through effective use of outsourcing services and flexible staff hiring.
- Benefit from the Availability of Experts: Access to the expertise of accountants, CPA, controllers, and finance specialists who may not be easily available locally.
- Staffing Flexibility: Adjust your accounting staff according to the needs of your business.
- GAAP and IRS Compliance: Adhere to GAAP, IRS, and best practices for financial reporting.
- Next-Day Delivery of Services: Leverage the skills of an offshore accounting team working overnight and get quick service delivery.
Conclusion
The accounting talent shortage is expected to remain a major challenge for US businesses in the coming years. Accounting staffing services, outsourcing, and RPO services have become common practices among companies as a way of filling important financial positions within their companies.
Companies can save money and increase their scalability using global talent and flexible hiring methods.
Get Workz provides accounting staffing, outsourcing, and RPO solutions to help businesses build high-performing finance teams.
Struggling to Find Qualified Accountants?
The accounting talent shortage doesn’t have to slow down your business.
Get Workz helps US companies hire skilled accountants, bookkeepers, tax professionals, and finance specialists through Accounting Staffing, Outsourcing, and RPO solutions.
✔ Access pre-vetted accounting talent
✔ Reduce hiring costs by up to 60%
✔ Scale your finance team faster
✔ Hire US GAAP-trained professionals
FAQs About Accounting Staffing Solutions
Why is there an accounting talent shortage in the US?
The factors responsible for the lack of accounting staff include retiring Certified Public Accountants (CPAs), fewer accounting degree holders, growing stress, and stiff competition from other jobs. Despite the increasing need for accounting specialists, most companies have difficulties filling finance/accounting positions.
How can US companies hire accountants faster?
In terms of recruiting accountants quickly, U.S. firms have the options of recruiting through accounting staffing firms, collaborating with accounting recruitment agencies, making use of accounting outsourcing firms, or working with Recruitment Process Outsourcing (RPO) firms.
What are the benefits of accounting outsourcing services to India?
Outsourcing accounting services to India will enable organizations to cut down expenses by 40%-60%, provide them access to a huge number of US GAAP-certified accountants, ensure English la
How do accounting recruitment agencies help businesses?
Through the accounting recruiting agencies, organizations can quickly get suitable accountants, controllers, financial analysts, and financial managers. Through these agencies, companies will not only save on the process of hiring but also find better quality candidates.