Generation Z is reshaping the accounting profession, drawn by lucrative salaries often exceeding $100,000 and a renewed sense of purpose. Amid a decades-long decline in accounting majors—down 16% from 2015 to 2020—young professionals are finding appeal in the field’s stability and earning potential. Programs like the Volunteer Income Tax Assistance (VITA), which offers free tax help to low-income households, are also fueling interest by blending financial expertise with community impact.
At universities like the University of Southern California, accounting enrollment is rebounding, with 240 students joining the program last year, up from 190 in 2020. Firms are responding to the shortage by boosting pay—starting salaries at major firms now range from $80,000 to $120,000—and offering perks like flexible schedules. Gen Z accountants, such as 22-year-old Priya Nair, value the profession’s versatility, citing opportunities in consulting, tech, and entrepreneurship.
VITA programs, supported by the IRS, are a key draw, engaging over 1,200 USC students annually to prepare taxes for underserved communities. Participants like Nair describe the work as empowering, helping clients secure refunds while honing practical skills. Despite challenges like complex tax codes and long hours during tax season, Gen Z’s tech-savvy approach and social consciousness are revitalizing a field once seen as stagnant, ensuring its relevance for a new era.