Worcester Business Journal

12 Worcester Business Journal | September 8, 2025 | wbjournal.com consulting, which pull from similar talent pools but don't require anything more than a bachelor's degree, is often understated," said Karen Teitel, a professor of economics and accounting at the College of the Holy Cross in Worcester. "On top of that, work-life balance is a big thing for the younger generations, and accounting doesn't necessarily provide that." Clashing cultures "When I started out, it was considered a badge of honor to have worked 90 hours in a week," Donah said, "but that's not as popular among the newer generation." Furthermore, a greater proportion of certified CPAs are going into more specialized subsets of accountancy, such as forensic accounting, or even into adjacent fields, such as data science and research, said David McLaren, founder and managing partner at McLaren & Associates, a forensic accounting and business consulting firm in Shrewsbury. "We have a waiting list … I'm asked almost every day if someone can come and work here," said McLaren. FOCUS LAW & ACCOUNTING e workforce crisis in accounting poses challenges in Central Mass. accounting majors in U.S. colleges and universities has increased by a staggering 17.89% since it reached similar lows in 2023, according to the National Student Clearinghouse Research Center. Additionally, while the number of CPAs and accounting majors may be increasing, the number of individuals working in tax accountancy, business accounting, or bookkeeping is not necessarily keeping pace. "The draw of fields like finance or CPA shortage BY JAKE REARDON Special to WBJ B ack in 2022, the U.S. Bureau of Labor Statistics reported the next decade will see 136,400 openings for accountants and auditors nationally each year, as the accounting profession faced a workforce crisis compounded by retirements, specialization, and historic low enrollments at colleges and universities. The past few years have seen some improvements, but local experts warn not to be so hasty in declaring the crisis over, especially in Central Massachusetts, which faces several challenges when it comes to drawing in young accountants. "Communities outside of Boston tend to have a harder time accessing talent … but I think the talent shortage is felt everywhere," said Zach Donah, president of the Massachusetts Society of CPAs. "Starting salaries in the accounting profession never really kept pace with the starting salaries in other fields, so when you factor in cost of living in a state like Massachusetts, it really adds up." The number of CPAs in the U.S. has increased by 2.67% since 2019, when it reached historic lows, according to data from the National Association of State Boards of Accountancy. Meanwhile, the number of enrolled Zach Donah, president of the Massachusetts Society of CPAs

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