I have my CPA & BS-ed my way into a senior tax role in November 2024. Many firms aren’t “getting it” that they need to train newbies into the pipeline to fill the egregious tax talent shortage. You’ll get “caught” & its 95% likely they’ll train you anyway, but you need to BS your way into the door

Navigating the Tax Talent Shortage: Insights for Aspiring Professionals

In November 2024, I stepped into a senior tax position armed with my CPA certification and a bit of creative strategy. The reality is that many firms are struggling to recognize the importance of cultivating new talent to address the glaring shortage of skilled professionals in the tax field. If you find yourself aspiring to enter this space, it may require some clever maneuvering to get your foot in the door.

Understanding the Market Dynamics

It’s becoming increasingly evident that firms need to rethink their approach to hiring and training. In many cases, you may need to leverage your ability to present yourself confidently, even if it means embellishing your credentials somewhat. Statistically, there’s a high likelihood (about 95%) that once they see your potential, firms will be inclined to invest in your training, despite any initial shortcomings in your experience.

Set Your Expectations

One strategy that could enhance your chances is to aim for positions that fall within the lower end of the pay scale. By doing this, you may find firms more receptive to training you once your initial qualifications become apparent. A more modest salary expectation can decrease the perceived risk for employers and make them more inclined to invest in your development.

Brush Up on Technical Skills

It’s crucial to refresh your knowledge of the REG (Regulations) section of your CPA studies. If you’re equipped with the skills to pass the REG exam, you already possess a solid foundation that can help you succeed in roles such as an experienced associate or senior tax professional. Confidence in your technical acumen will be your ally when navigating interviews and discussions.

The Reality of Hiring Practices

Interestingly, there’s an underlying truth to the hiring process that can work in your favor. If you do find yourself in a position where your limitations are apparent, the firm’s hesitance to let you go indicates their recognition of your potential. They may also be trying to save face, as dismissing you outright would require them to confront their initial error in judgment. Instead, they might prefer to keep you onboard, where they hold onto the hope that your talents will develop in time.

Final Thoughts

Securing a job in the tax industry today can often feel like a game of strategy and negotiation. By understanding the mindset of hiring firms and adjusting your approach, you can increase your chances of landing a sought-after position despite the current talent shortage. Navigate wisely, and remember: sometimes, those with a bit of creative confidence can