Will This Program Help Reduce the Accountant Shortage?
The accounting industry is facing a talent shortage, with a combination of tenured professionals retiring, mid-career accountants leaving the industry altogether, and fewer younger people pursuing the industry overall. To address this major challenge, the Deloitte Foundation, Urban Assembly, and Outlier.org have developed an initiative to reduce barriers and encourage more high schoolers to enter the profession. Learn more about the program that aims to help reduce the accountant shortage and get more high school students interested in the accounting profession:
Eases Point of Entry Via College Credit
Based in New York City, the pilot program provides students in select high schools the opportunity to participate in dual enrollment, an opportunity for students to earn college credit in Intro to Financial Accounting online from the University of Pittsburgh during high school. Upon earning their high school diploma, the three credits can be applied to whichever college they choose. Completing a lower-level accounting course eases the entry point to selecting accounting as a major once they enroll in college.
Changing Perceptions of the Accounting Profession
The younger generation of future professionals tends to have differing expectations and desires for their careers than previous generations. Although good pay and advancement opportunities are important to them, they generally value the purpose and impact of their work, and the accounting industry is seen as stable but with a negative work-life balance and not as much meaning in the world. This program is designed to help change these perceptions of the accounting profession and demonstrate that it can be an exciting field that works with technology and makes a difference.
Increasing Diversity in the Accounting Profession
A significant obstacle to the future of accounting is a lack of racial and ethnic diversity among professionals in the field. Another goal of this program is to introduce the accounting profession to a much wider student audience in NYC high schools. The aim is to inspire them to pursue the field and make it accessible and inclusive while helping them get a jump start with earning prerequisite accounting college credit in a familiar environment.
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