The conditions driving the existing accounting talent shortage aren't resolving quickly. Fewer students are sitting for the CPA exam, and experienced accountants are leaving traditional firms. Meanwhile, demand for financial expertise from high-growth companies – particularly in tech and SaaS – keeps climbing. The result is a hiring environment where even well-funded firms are competing for a shrinking pool of qualified candidates, often unsuccessfully.
The shortage doesn't have to stop a company from building a strong finance function. But it does mean the old hiring playbook – post a job, wait for applicants, pick the best one – is producing worse outcomes than it used to, and taking longer to do it.
Several things are happening at once. On the supply side, accounting program enrollment has declined, and fewer candidates are completing the CPA exam, which means the incoming talent pipeline is thinner than it used to be. Experienced accountants are also leaving traditional roles in meaningful numbers – in search of more flexibility, better hours, or different work entirely. AICPA data has tracked a sustained drop in new CPA candidates for several years running.
On the demand side, the growth of startups and SaaS companies has created an aggressive new category of employers competing for mid-level accounting talent. These companies move fast and often pay well, which makes it harder for smaller or more traditional organizations to stay competitive. The combined effect is a market where hiring timelines have stretched, salaries have climbed, and the risk of settling for an underqualified candidate is higher than most finance leaders are comfortable admitting.
Recruiting exclusively from local talent pools limits access to the skills a finance team actually needs – particularly when those skills are already scarce domestically. Long recruiting cycles push back projects and close timelines. Rising compensation expectations inflate hiring budgets. And when a company overpays to land a candidate who still isn't quite right, the cost shows up twice: once in the salary and again in the output.
The organizations navigating this most effectively aren't working harder at traditional hiring. They're approaching the problem differently.
Opening up the search internationally is one of the more immediate levers available. A large pool of accounting professionals outside the US brings US GAAP knowledge, direct experience working with American companies, and technical depth comparable to domestic candidates – often at 50–70% lower cost. Fractional and contract arrangements are worth considering too, particularly for filling specific gaps without the overhead of a permanent hire.
Routine tasks like reconciliations, expense categorization, and invoice processing can be handled by modern accounting tools, freeing up human accountants for analysis, oversight, and the judgment-heavy work that actually requires them. Smaller teams can produce stronger results when technology absorbs repetitive volume rather than consuming accountant hours that could go elsewhere.
Turnover compounds a talent shortage. Every departure means another open seat, another ramp period, and more institutional knowledge lost. Investing in career development, scheduling flexibility, and upskilling – particularly around analytics and technology – gives existing staff reasons to stay and positions the team to handle evolving demands without constant backfilling.
Rigid full-time hiring structures make it hard to adjust when workload fluctuates. Finance teams built around a lean in-house core, supplemented by global partners or fractional professionals, can scale up during busy periods and pull back when demand drops – without carrying fixed cost through the quieter stretches.
The accounting talent shortage reflects a structural shift in the labor market rather than a temporary dip. Organizations that adapt their hiring and retention strategies now will be better positioned as competition for domestic accounting talent continues to intensify. Those who wait tend to arrive at the same problem a year later, with a longer backlog and a higher asking price for the same candidates.
MAVI helps growth-stage companies make that shift. Our platform connects scaling US companies with global accounting professionals who bring US GAAP proficiency, direct experience with US firms, and the technical depth to contribute from day one. Placements are available in as little as five days, with no upfront fees, month-to-month flexibility, and a 14-day risk-free trial. Book a call to learn more.
Several factors converged at once: fewer students pursuing accounting degrees, a meaningful exit of experienced CPAs from the profession, and rising demand from high-growth tech and SaaS companies, all competing for the same shrinking pool. The shortage isn't driven by any single cause, which is part of why it's been persistent.
Longer hiring timelines, higher salaries, delayed closes, and finance teams stretched thin covering open seats. The downstream effect is reduced financial visibility and increased error risk at the moments when companies can least afford either.
Relying on local full-time hiring limits the available talent pool, extends recruiting cycles, and drives up cost. In the current market, that approach tends to end one of two ways: overpaying for a candidate who meets the bar, or accepting one who doesn't quite.
For most companies, yes – meaningfully so. Hiring globally provides access to a wider pool of qualified professionals without the cost, competition, and timeline of domestic-only hiring. MAVI's network specifically includes professionals with US GAAP proficiency, deep accounting experience, and the communication skills to work directly within US finance teams from day one.