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 Profession: Tips for Entering the Industry

As a recent CPA who transitioned into a senior tax position in November 2024, I’ve gained insight into the current state of the tax profession and the challenges new entrants face. One significant issue is the widespread shortage of skilled tax professionals. Unfortunately, many firms seem to overlook the importance of training fresh talent to address this gap.

If you find yourself entering this competitive field, remember that confidence and strategy are essential. While you may feel the need to embellish your qualifications during interviews, it’s crucial to understand that most firms are likely to provide training once you’ve been hired. The key to getting your foot in the door is to present yourself in a way that aligns with their expectations, even if that means downplaying your experience.

Consider Your Compensation Expectations
To increase your chances of being trained once hired, consider aiming for the lower end of the pay scale. This approach can make you more appealing to firms looking to fill vacancies, showing that you are a cost-effective solution for addressing staffing shortages.

Leverage Your Knowledge
Revisiting your Regulatory (REG) exam notes can also be beneficial. If you possess the necessary technical skills to pass the REG exam, you’ll likely have a solid base to take on a position as a lower-level tax associate or senior associate. Those foundational skills will serve you well as you transition into a new role.

Understanding Firm Dynamics
It’s important to recognize that firms may initially overlook your lack of experience. While it might seem disheartening to realize that they “catch” you in your inexperience, their decision not to terminate your employment signifies an acknowledgment of your potential. Instead of this being a point of criticism, consider it a testament to their willingness to invest in you—albeit sometimes for reasons tied to their own ego.

In conclusion, securing a role in the tax field during this talent shortage involves a mix of strategy, humility, and self-awareness. By understanding the industry’s current dynamics and approaching your job search strategically, you can successfully navigate the path to landing a rewarding position in tax. Remember, this is an industry that needs fresh talent, and with the right approach, you might just be the candidate they’re looking for.