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Mitchell Day's avatar

It really depends on the supply/demand dynamics of the sector. I’m a tax CPA and there is a major shortage of people in the field - it is a barbell issue where there are shortages of new CPAs and older experienced CPAs. The 150 credit hour rule and low starting wages relative to hours discouraged a lot of graduates into public accounting. The Covid fueled stock boom and PE buyouts from zero interest rates encouraged a lot of boomer CPAs to retire.

Those that are left have pricing power - and are demanding more money, working fewer hours, and remote work. The specters of AI and the abolition of the income tax will exacerbate the shortage for the near to medium term.

I would be willing to go back to a major city and do office work - but the cost of housing in urban areas with decent schools would mean my salary would need to at least double to maintain my current standard of living in a rural area working remote. A major housing correction is needed as well.

So in my industry the costs of lost productivity and turnover/training is a fraction of the incremental payroll and occupancy costs of full RTO.

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