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Boston Accounting Jobs Remain Stable

Posted on September 17, 2008

While the financial activities industry is faltering nationwide, accounting jobs in Boston are continuing to grow.

Accounting is one industry that won’t be hurt by the current recession, according to an article by the Boston Business Journal, because despite what is happening in the economy, businesses always need to maintain tax records. Because of this, competition for accounting jobs in Boston and throughout Massachusetts remains fierce, with many big firms still hiring on a regular basis.

“In terms of hiring, one development that firms are considering is the newly implemented International Financial Reporting Standards,” the article notes. “Although colleges and universities haven¬ít changed their lesson plans yet and the CPA exam does not yet cover the soon-to-be-standard guidelines, large firms are already holding in-house training sessions and will likely hire experts from overseas.”

At PricewaterhouseCoopers LLP, a company that has more than 630 CPAs in Massachusetts and a client base that includes financial services firms, health care companies and life sciences and venture capital firms, hiring has remained a priority.

“Firm officials say the venture capital-related business is down slightly, but the risk-management practice has seen an uptick in business as companies look to streamline operations,” the article adds.

Boston
‘s financial activities industry as a whole had a total employment of 190,300 people in July 2008, a decrease of .7 percent from last year, according to the United States Department of Labor Bureau of Labor Statistics. The industry has seen an over-the-year decline every month this year, by .5 percent in February, by .5 percent in March, by .6 percent in April, by .8 percent in May, by .7 percent in June and by .7 percent in July.