2573 Recruiters outnumber students in accounting

This week I'm puppy sitting because Abby, my daughter's Chihuahua has a big stapled incision. She's not happy to be here, and our cat isn't pleased either. BUT--to get to the point, I'd run out of newspapers to put under the "puppy pad," so on my walk yesterday I picked up a June 13, still-in-the-bag, Wall St. Journal, from a neighbor's recycle bin. As I was laying it down this morning I noticed the article "Student shortfall pushes up salaries." Actually, I can't tell if it is advertising or essay, but it quotes some interesting statistics.

Sarbanes-Oxley (SOX) has caused firms to expand their audit departments.

SOX compliance is so tough, it is driving people out of the field.

Firms are losing 40% of their partners and senior managers in the "big four".

There's no one to replace them with the experience they need, so salaries are 30% higher than pre-SOX.

2006 base salaries for senior managers in public accounting firms range from $85,000 to $130,000 a year.

In the 1990s, mathematically minded students chose to major in business instead of accounting and headed for dot.com companies.

When Enron unraveled, interest dipped again.

There is now a campaign to interest high school students in this career field.

300 recruiters went to Notre Dame last fall to woo 125 graduates.

Women accountants tend to drop out to start a family around the time they would be up for partnerships, further reducing the pool. So companies are beefing up their services to attract and keep women (i.e., more babies will be left at day-care so mommy can get her partnership).