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The Accounting Podcast
Why Accountants Quit Public Accounting Firms
Feb 24, 2024
Exploring reasons why accountants quit public firms, including salary, burnout, and work-life balance. Discussing career transitions to public accounting, companies, and private equity. Addressing talent shortage, online perceptions, and career progression challenges. Highlighting solutions for improving retention rates through increased compensation and flexible benefits.
23:25
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Quick takeaways
- Top reasons for turnover in accounting firms include salary concerns, burnout, and lack of work-life balance.
- Professionals leaving accounting firms often transition to other opportunities within public accounting rather than leaving the profession entirely.
Deep dives
Key Drivers in Turnover Trend
The main reasons for turnover in the accounting profession include issues such as salary concerns, burnout from long hours, and lack of work-life balance. These factors have been persistent in public accounting firms and contribute significantly to employee attrition. While salaries have increased, challenges like inadequate work-life balance and workplace culture continue to impact retention rates.
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