Work-and-Learn Models Will Empower the Next Generation of CPAs

The number of college students pursuing careers as a CPA is at an all-time low, and there are multiple reasons why. Students see other careers offering higher starting salaries with less education. There also is a perception that our profession isn’t appealing.

I believe the way we talk about being a CPA has to change. Many students don’t understand how dynamic and impactful this career can be, emphasizing exceptional problem-solving ability, strong collaboration skills, and cutting-edge technology.

The decline concerns me because CPAs help families deal with complex financial decisions, assist small Main Street businesses, and serve as the foundation of trust on which capital markets run. But we don’t tell that story effectively and often enough.

Declining Enrollments

Many colleges and universities recognize that students are finding more cost-effective ways to satisfy the education requirement for CPA licensure. Amid declining enrollments and immense pressure on tuition, they’re eager to think creatively.

One of the most promising potential solutions is the emergence of work-and-learn programs. The American Institute of Certified Public Accountants and National Association of State Boards of Accountancy are developing a national model with a planned pilot program in the fall. I’ve had the opportunity to serve on a task force advising that model while helping colleges and accounting firms in Pennsylvania devise and implement their own variations.

Working on both national and state models enables me to be a more informed advocate. I think the more options we can offer to enter the profession, the better. While the national model must work across every state, we can build options in Pennsylvania with features tailored to our state.

Providing Solutions

In assessing the challenges facing the profession, I focus on identifying the most practical and commonsense solutions. That’s why work-and-learn models stand out to me.

Our Pennsylvania CPA Foundation is partnering this fall with Outlier to bring a financial accounting class to high school students across the state. Not only will these students get exposure to the profession, but they’ll also get college credits for the course while still in high school at no cost to them.

These types of ideas provide access to the CPA profession for students who might not otherwise consider a career as a CPA and maintain the exceptional quality of workers who enter our profession without jeopardizing the national mobility of our CPA licenses.

One suggested resolution—changing the educational requirement for licensure from 150 to 120 credit hours—is problematic because it would require amending the statutes of 54 different licensing jurisdictions. Unless we can find a way to redefine what is considered substantially equivalent, that is a high-risk approach and could take decades to enact.

We don’t have that much time to explore strategies that might do more harm than good by jeopardizing the cross-state mobility so unique to our profession. There are other commonsense solutions that are viable alternatives and a critical piece to the puzzle.

Creative Models

I think we’ll see a lot of innovation in Pennsylvania over the next year about how to be creative with time and cost of licensure. PICPA can leverage our understanding of the landscape, environment, and profession to be a force-multiplier, bringing the right people together to have the needed conversations.

There are many opportunities for firms, colleges, and universities to unite and determine effective solutions. I’m encouraging colleges and universities to leverage what they already have—whether it’s granting more credits for internships, expanding self-study offerings, or deploying online coursework in new ways. Firms are an important partner in this, as they adjust to support students and employees that are still working on those final 30 credits.

An intriguing benefit of work-and-learn programs is how they can accelerate access to the job responsibilities that students might find most interesting, whether in consulting, tax, or audit work. From diligence advising on potential acquisitions to building strategic relationships with clients, these models can help combat the notion that being a CPA translates to a repetitive and unexciting career.

Three Objectives

In thinking about work-and-learn models, I have three primary objectives. First, they must be cost-effective for students, recognizing not only the cost of the extra credits but also the foregone wages.

Second, the programs have to be academically rigorous and relevant. It’s not just about working to make up those 30 credits. There can be real value to learning on the job, but the academic rigor is necessary to satisfy the educational requirement for licensure.

Third, the models must be scalable. Some of the largest firms have introduced programs leveraging their immense resources, but these are generally far too expensive for the average firm to implement. I look at what’s being done and think, “How can we bring that to small firms across Pennsylvania?”

Transformative Career

In my experience, becoming a CPA can be life changing. I didn’t know what a CPA was growing up and neither did my parents. My dad drove a truck and my mom worked in a grocery store. But becoming a CPA transformed my life and my family’s life, so I’m intrigued with how it could do the same for others.

Obtaining the CPA credential opens the door to any number of interesting and engaging careers. The salaries can be lucrative, and many positions offer the ability to travel and meet great people. There’s just so much upside.

I think work-and-learn programs offer a commonsense and practical solution to the current talent shortage, as do ways to offer college credit while in high school. We can make a meaningful impact on the pipeline with pilot programs in the fall and then scale more broadly. It’s not a silver bullet because the issue is complex and has been a long time in the making. But I’m proud to work with stakeholders across Pennsylvania as well as nationally on these innovative and exciting initiatives.

This article does not necessarily reflect the opinion of Bloomberg Industry Group, Inc., the publisher of Bloomberg Law and Bloomberg Tax, or its owners.

Author Information

Jennifer Cryder is the CEO of the Pennsylvania Institute of Certified Public Accountants. She oversees its membership initiatives and long-term strategic growth plans, while spearheading efforts to increase membership and support existing members.