For several years, we’ve written about the current and expected shortage of senior-level accounting professionals. This accounting employment crisis may get worse before it gets better, especially for nonprofits seeking to attract and retain top talent. And, while we have talked about neurodiversity and how to accommodate neurodiverse individuals, we haven’t talked about the elephant in the room everyone is tiptoeing around: the lack of diversity in the accounting profession.
Try it. Ask several people to tell you what they think an accountant looks like. Chances are good it’s a middle-aged white man in a gray suit seated behind a desk. He’s Mr. Bland or Mr. Everyman.
But he’s not really Mr. Everyman, is he? He represents just a small fraction of the rich diversity of people on this planet: the black, the white, the brown-skinned, and others. And of course, he represents only 50% of people, since there are many amazing female accountants as well. I’m one of them.
Unfortunately, diversity and inclusion in the accounting profession is lacking. And, until we examine what causes it, and take conscious steps to fix it, we’re going to keep finding Mr. Bland behind the desk…covering six jobs, because there won’t be enough accountants to fill the vacancies.
The Accounting Profession’s Talent Shortage
The AICPA 2025 trends report found that there was a 12.4% increase in the number of accounting students; however, the year before, there was a 6.6% decline in graduates compared to prior years. This suggests that some progress has been made to increase the number of newcomers to the profession, but we still have work to do.
What more should we do? Should we go to college and career nights, handing out flyers and extolling the glories of debits and credits?
Although that could be fun (and just might convince one or two people to give the accounting major a second look), colleges typically spend time and effort recruiting for “hot” careers and majors. STEM careers get a lot of attention, but accounting is often included among business school majors and is not pushed as much as other mathematics-based professions.
Hidden Biases Keeping People Out
However, no amount of college night guest speakers will encourage people to enter the profession if they don’t feel welcome. Diversity and equity programs are winding down, often to the detriment of hiring practices. Many people feel that accounting is a profession dominated by white males (Mr. Bland, anyone?). It’s a hidden bias that can keep many talented young people from declaring an accounting major and progressing in a field that rewards talent and hard work.
Inclusion goes beyond the college experience. CPA Journal reports that students often felt corporate internship experiences were uncomfortable due to the lack of diversity among other corporate accountants. Feeling out of place, like you don’t belong, is often the motivation to change jobs or professions. The more people feel included and valued, the more likely they are to remain and contribute.
The Way Forward
I don’t have a magic wand to fix the accounting profession, although sometimes I wish I did. Instead, I’d like to offer a few words of encouragement to students considering a career in accounting.
First, this is a stable career. AI is offering great efficiencies, but a smart accountant must be behind the keyboard working with AI to get things done the right way. There will always be room for newcomers to this profession, with a good career path forward, advancement opportunities, and significant income potential.
Next, we need to consider diversity and inclusion in your hiring practices. Yes, DEI mandates were sunsetted by the current administration. That doesn’t mean you can’t encourage your hiring managers to be inclusive and seek candidates with diverse backgrounds and experience. It’s up to you, as leaders of your organizations, to speak to your HR department if you don’t see that happening and encourage them to include more diverse candidates in the hiring pool.
Build a truly inclusive culture at your organization. Provide visible role models for newcomers to the profession. Be welcoming, not just with words, but also with your actions.
We may not be able to solve the national talent shortage, but we can solve cultural problems within our own organizations. By helping people feel welcome, giving them a place at the table, and encouraging them to use their gifts, we can improve retention rates and make a dent in the accounting talent shortage.
Welter Consulting
Welter Consulting bridges people and technology together for effective solutions for nonprofit organizations. We offer software and services that can help you with your accounting needs. Please contact us for more information.
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