Brief Update on the Job Market for Tax Accountants

Here we are in the heart of the tax battle. With the 4/15 deadline just 10 days away, many of you are surviving on caffeinated beverages and carbohydrates. I’m curious if this is a “typical” busy season or something else. Something better would be nice. For those of you that were around during the pandemic, it was quite a tax season. I can’t imagine this year will be anything close to that.

Here’s a short update on what I’m seeing in the market. Hiring activity seems to be slower than usual on the industry side. I’m not sure what that is about except that companies are monitoring expenses a lot more closely. As is always the case this time of year, public accounting hiring is also very slow, but I expect that to pick back up sometime after the deadline. You will see larger firms with an internal recruiting function still posting jobs, but the smaller firms don’t have time for that during busy season. Colorado’s vibrant economy remains a boon for tax professionals. As the state continues to attract businesses and residents, the overall demand for tax services remains robust.

All the data seems to indicate that the demand for skilled tax professionals in Colorado will remain high, particularly as businesses seek guidance through regulatory changes and economic uncertainties. Consequently, salaries for experienced tax accountants continue to be competitive, reflecting the value of expertise in this dynamic field. That said, we aren’t seeing the wage increases we saw in the previous few years. I guess the hope is that more moderate wage increases will be reflected in what the Fed does with interest rates. In Colorado, the overall number of tax professionals in industry seems to remain fairly consistent. We lose some, often because of mergers (like in the oil & gas industry) and we gain some (companies grow to a point where they decide to bring tax in-house). Public accounting numbers, on the other hand, seem to be increasing. This is happening as more firms decide to expand into the state and other firms grow their practice.

That’s it for now. I would like to put together a list of new tax departments in Colorado and those that are going away or have gone away over the past year. If you can think of anyone to include, please shoot me an email. All the best with whatever you have on your tax plate today and thru your next deadline.

To your continued success,

Jay McCauley
Executive Recruiter
(303) 730-0100