Big 4 firm EY US has announced plans to invest $1 billion over three years in talent and technology to improve the experience of early-career accounting professionals and enhance the attractiveness of the profession.
The money will be spent on boosting compensation, increasing AI-enabled audit and tax platforms, starting a “360 Careers” experience, extending outreach and support for college students, and improving wellness benefits.
“Investors and global capital markets depend on a thriving accounting profession,” said Ginnie Carlier, EY Americas vice chair for talent, in a statement. “Our goal is to make EY US the most preferred place to launch an audit or tax career and become a springboard for future business leaders – for our own organization and leading public and private enterprises.”
A Bump for Starting Salaries
EY US will increase early-career compensation as part of a total rewards package that recognizes the value of a CPA career path. This investment will place the profession and accounting degree on par with other business majors.
“By increasing the starting salaries of CPA-track professionals to market-leading compensation levels, we are continuing to recognize the trust placed in the profession, reward the valuable skills accountants bring and ensure a strong pipeline of CPAs for generations,” Dante D’Egidio, EY Americas vice chair for assurance, said in a statement.
AI-Enabled Tax and Audit Processes
EY US is leading the way with market-leading AI technology to transform the roles of audit and tax professionals and to serve as a catalyst for new perspectives within the audit. AI-powered capabilities are being built into the global EY organization’s core audit platform tools to enhance audit quality, improve productivity, support risk assessment and deliver better insights on key business issues.
CPA Support
EY pledges to support professionals as they pursue a degree in accounting and as they progress in their career, through:
- Pathways to CPA licensure, including the EY Career Path Accelerator, to remove barriers to entry and create a growing pool of future CPAs.
- New EY 360 Careers experience for early-career professionals starting in 2025, which will give campus recruits the skills they need to grow as leaders at the global EY organization, forge their paths as entrepreneurs or advance to prominent C-suite positions later in their careers.
- Improved benefits to help professionals perform at their best, including dedicated coaching and wellbeing assistance for audit and tax teams during periods of peak performance.
