As remote work continues to shape the modern workplace, its impact on various industries, including accounting, has become increasingly significant. Earlier this year, FlexJobs released its annual ranking of the top remote roles in the U.S. and accountant secured the top spot for 2023. Additionally, accounting ranked sixth among the most searched remote job terms on their platform.
Supporting the above, data from 2023 also shows that 12.7% of full-time accounting employees were fully remote, with 28.2% in hybrid roles. But the landscape is shifting. A recent report from Resume Builder indicates that 90% of companies plan to enforce return-to-office policies by the end of 2024. The main drivers cited for this shift include productivity (86%), company culture (71%), employee well-being (57%) and retention (55%).
Given the well documented talent shortage in public accounting and the fact that 89% of accounting firms are struggling to find skilled talent, Distinct wanted to explore the current state of remote work in the industry.
What is the reality of remote work in accounting?
We analyzed data from Indeed Hiring Insights on key public accounting job titles, including Tax Manager and Audit Manager, to compare job and job seeker volumes from July 2023 to July 2024. This analysis covers both the overall U.S. market and remote positions specifically. Here are the key takeaways:
- Overall decline in job postings: Public accounting job postings in the U.S. fell by 24.4% from July 2023 to July 2024, with remote roles seeing an additional 6.8% decline.
- Stable candidate interest for remote roles: Despite fewer remote job postings, candidate interest in remote accounting roles remained strong, just 0.3% below 2023 figures, while the broader market saw an 8.2% drop.
- Surge in remote tax role interest: Job seekers for remote tax positions surged to 134.5% of July 2023 levels, despite a sharper 6.4% decrease in remote tax job postings.
- Certified Public Accountant (CPA) trends: CPA job postings declined by 34.6% across the U.S. and 44.2% for remote roles. However interest in remote CPA positions increased, with job seeker volumes rising to 118.3% when compared to the previous year’s total.
Commenting on the findings, Arran Jaiswal, Director and Public Accounting Recruiter at Distinct concluded – “This data mirrors what my team and I are seeing in the market. While remote work in accounting is still possible, it’s becoming less prevalent. Firms that offer remote options tend to do so selectively. We’re fortunate to collaborate with firms that are open to remote and hybrid arrangements, but many others leverage their dynamic and supportive office environments as a key attraction for potential hires.”
“Interestingly, while candidates often see remote work as their ideal solution, what they might actually need is a shorter commute or more flexibility. Striking the right balance between professional and personal needs is crucial. As we navigate the future of the industry and strategies for attracting and retaining talent, it’s evident that flexibility and remote work will remain important. However, it’s crucial to recognize that a one-size-fits-all approach doesn’t apply here. Ultimately, finding a firm and role that aligns with your values and career aspirations is what matters most.”
In-depth analysis of remote accounting job trends and demand
Between July 2023 and July 2024, public accounting job postings in the U.S. plummeted by 24.4%, with remote roles facing an additional 6.8% decline. Despite the shrinking availability, candidate interest in remote roles remained strong, with the number of job seekers for these positions dropping by only 0.3% from July 2023 levels. In contrast, overall interest in public accounting roles across the U.S. decreased more significantly, with job seekers declining by 8.2% compared to July 2023.
Graph 1 highlights the significant decline in public accounting job volumes across the U.S., with remote roles dropping from an average of 97 in July 2023 to just 66 by July 2024 and overall postings decreasing from 2,545 to 1,925.
Interestingly, remote job postings declined at a steeper rate than overall accounting job posts, except in December and to a lesser extent, May. December’s exception to the trend corresponds with the typical recruitment push by CPA firms ahead of the busy season. Similarly, the hiring activity in May is expected, as CPA firms often reassess staffing needs after the busy season to manage deferred accounting work and prepare for mid-year audits.
As highlighted above, graph 2 shows that while the number of job seekers has remained relatively stable, the decline is more noticeable in the overall market compared to remote roles alone. While job seeker numbers for the U.S. accounting market as a whole dropped from 38,412 in July 2023, to 35,275 in July 2024, those specifically seeking remote roles, dipped just 0.3% from 7,986 to 7,966.
This trend suggests that, even as remote opportunities diminish, candidate demand for these positions remains strong and may be gaining ground relative to traditional in-office roles.
Comparing tax vs audit roles
When focusing specifically on tax-related positions, such as Tax Manager and Tax Senior, clear trends emerge. The decline in remote tax jobs is notably sharper. The U.S. market saw a 17.8% decline in jobs between July 2023 and July 2024, while remote roles declined by 24.2%. Interestingly, the number of job seekers for remote tax roles not only held steady but surged to 134.5% of the previous years’ total. In contrast, the U.S. market increase was more modest at 102.8%.
In contrast, audit roles show a consistent decline in both job postings and job seekers.
As shown in graph 3, the average number of remote tax jobs dropped significantly by 24.2%, falling from 102 in July 2023 to just 76 in July 2024. In comparison, job postings across the U.S. experienced a less pronounced decline, decreasing by 17.8% from 2,818 to 2,317.
This trend underscores the influence of CPA firms preparing for busy season. December and though less pronounced January, are the only months where remote job postings exceeded the average rate of decline seen in public accounting roles across the U.S.
Conversely, graph 4 highlights that while the number of job seekers for tax roles across the U.S. remained relatively stable at 25,593 in July 2023 versus 25,879 in July 2024, the demand for remote tax roles skyrocketed by 134.5%, with the average number of job seekers growing from 5,429 to 7,303.
As illustrated above in graph 5, tax senior positions experienced the steepest decline, with job postings dropping by 44.2% between July 2023 and July 2024. Despite this, there was a remarkable 125.1% surge in job seekers for these roles. In contrast, tax senior positions across the U.S. saw a 35% decline in postings and a 28.8% drop in job seekers, highlighting a significant gap – though remote tax senior roles experienced a steeper decline (an additional 9.2% in comparison to the U.S. as a whole), there was a striking 53.9% difference in job seeker growth.
In contrast, audit roles show a consistent decline in both job postings and job seekers.
As shown in graph 6, remote audit positions saw a significant decline, dropping by 40.9% from an average of 91 in July 2023 to just 54 in July 2024. Similarly, audit job postings across the U.S. decreased by 36.1%, from 2,468 to 1,578. The number of job seekers also took a hit, remote audit positions saw a 42.7% drop to 6,521 job seekers, while U.S. audit job seekers saw a 23% decrease, falling from 56,122 to 43,226. These figures reflect a 4.8% difference in job postings and 19.75% difference in the average volume of job seekers, when comparing remote roles to those across the U.S.
Arguably, this trend within public accounting can be attributed partly to the nature of audit work. Unlike tax which can be described as more project-based and independent in nature, audit often requires physical presence for client interaction and inspections. The data also suggests that remote work may be less attractive to these candidates, as reflected by the increased job seeker decline for remote audit roles vs audit roles across the U.S.
Certified Public Accountant (CPA) trends
Finally, Certified Public Accountant (CPA) job postings experienced a notable decline, with a 34.6% drop across the U.S. and an even steeper 44.2% decrease for remote roles compared to July 2023 levels.
Despite this reduction in job availability, the number of job seekers remained steady nationwide, holding at 101.8% of last year’s total. Remarkably, interest in remote CPA roles surged, with job seekers increasing to 118.3% of the previous year’s total. As depicted in graph 7 above, these reflect differences of 9.6% for job postings and 16.5% for job seekers, U.S. vs remote specifically.
In summary, while our research offers just a snapshot of public accounting jobs and job seekers across the United States, it clearly highlights a key trend; despite a decline in remote job postings, candidate demand for these roles remains strong.
If you’re an Enrolled Agent or CPA interested in staying ahead of market trends or a top CPA firm seeking guidance on how to attract the best talent, remote or not, our expert public accounting team is ready to help. Contact us today to get started.
Methodology
The data presented was sourced from Indeed Hiring Insights and covers the period from July 2023 to July 2024. This information includes either monthly snapshots or averages, with graphs 1-4 showcasing the average changes in job and job seeker volumes compared to July 2023 volumes.
We analyzed 12 of the most popular job titles in the market. Titles that did not provide a complete dataset or those containing “Director” were excluded. The final analysis focused on seven key job titles: Certified Public Accountant, Tax Manager, Senior Tax Associate, Senior Tax Manager, Tax Senior, Audit Manager, and Senior Auditor. For simplicity, “Audit” represents the average of Audit Manager and Senior Auditor, while “Tax” reflects the average of the four Tax-related titles.
All data pertains to the United States, with remote job data based on the tagged location of the positions.
For any questions or additional information regarding the data, please reach out to our team at [email protected]
