"If it's not feeding your goals and your soul, it's not going to do anything for you. I'm all about bettering myself... that's why it has to be challenging and why I have to love what I'm doing."
–Black, 4YC, Business
What can accounting do to be more inclusive?
Historically, students in higher education have not reflected the racial and ethnic demographics of our nation. And while more recent census data indicates educational attainment has increased across all student body demographics, these trends have not translated to increased diversity in the accounting profession’s talent pipeline for Black and Hispanic students specifically.
The college and career journey
"Where I will go, you will not see Black people. But the thing is, if I become CFO…"
View the interactive chart on career priorities
Top tier career priorities
With regard to career decisions, Black and Hispanic students prioritize working in an environment that is welcoming to people of all races, ethnicities and backgrounds. Other top priorities connect to personal fulfillment and growth versus benefits related to a specific employment opportunity, like starting salary or travel opportunities.
"Owning a business is a top choice for all students"
View the interactive chart on career priorities
Additional draws to accounting as a career
For Black and Hispanic students, future business ownership is the strongest draw when it comes to desired workplace. Both Black and Hispanic students prioritize selecting careers that will have real impact and help improve their communities through building wealth.
Openness to accounting
"I wanted to do something that would help not only myself and my family, but also my community. To be able to explain to them what’s going on with their tax return."
–Hispanic, CC
"Those with a STEM focus are deciding earlier"
View the interactive chart on positives
Varied high school students perspectives on academic journey
A vast majority of high school students report having at least some idea of what they would like to study in college. Of those Black and Hispanic students who have decided on their college major, almost a third report having made this important decision prior to attending high school. More than two-thirds of students surveyed across all demographics report having decided on their college major prior to their junior year of high school.
More students are pursuing STEM and business degrees
View the interactive chart on fields of interest
Fields/majors of interest
While many students of color express interest in or are pursuing STEM degrees in comparison to other areas of study, business is also a top field of interest amongst high school and college students. And while Black high school students report having the greatest interest in business across all surveyed demographics, there is a more significant drop-off for Black students when it comes to translating that interest into majoring in business in college.
Engaging with students gives them oppurtunities as accountants.
View the interactive chart on positives
Opportunities for growth from interested students to accounting majors
The same pattern of drop-off holds when considering openness to a career in accounting and those choosing to major in accounting. While greater numbers of Black and Hispanic students report having an openness to accounting, fewer Black and Hispanic students report choosing accounting as a major, compared with other student demographics.
"Experiences in accounting courses have been mixed"
View the interactive chart on positives
Experiences in accounting courses by race
To better understand what is driving the drop-off between openness to accounting and, ultimately, students' decision not to pursue the degree, the research attempted to identify reasons for not pursuing accounting as a major/ minor. College business majors report having mixed experience with accounting courses, with only half of Black college students reporting a positive experience with accounting courses and less than half of Hispanic students reporting a positive experience.
Influencers & touchpoints
"I would ask people who are in the career. People I know in my family that have pursued this career, other people like family friends so that I know what I’m getting into. And ask them how they do it or questions I have about it."
–Hispanic, 4YC, Accounting
Accounting course content needs to align with actual skillsets in the field.
View the interactive chart on negatives
Why are college students not pursuing accounting major/minors?
Black and Hispanic Business majors/ minors who considered accounting and/ or took introductory accounting courses, yet chose not to pursue accounting as a major/ minor report concerns about their skill set, not having an interest or passion for the work, and the requirements to obtain CPA licensing as the top barriers. Concerns about starting salaries and long hours are rated as significantly lesser barriers.
"Family, work experiences, and classes are powerful influences across groups"
View the interactive chart on positives
Driving influences for determining job/career interests
Direct exposure is one of the biggest determinants in a student’s career interests. Direct connection with mentors/role models, having a parent/guardian in the profession, and work/internship experience are the most effectual influences for students in choosing career paths. Students of color report that social media has a greater influence on potential career decisions.
"Students want to hear from professionals working in the field"
View the interactive chart on positives
Who students need to hear from for careers
There is opportunity for accounting professionals at all levels and from all backgrounds to play more of an active role in advising and mentoring the next generation of accountants. Students disclose a desire to hear more about potential careers from those who could be a potential boss as well as from those working in a field with a similar background to their own.
"I worked in my high school’s business office and that was my first exposure to business. Just seeing behind the scenes of how something runs was really interesting to me. That’s how I started wanting to go into business."
–Hispanic, 4YC
How can accounting meet students' career objectives?
Many students of color who have demonstrated an interest in business also indicate an openness to accounting, yet there remains a significant disconnect about what a career in accounting is and how it aligns with their interests. CAQ’s research makes clear that accounting can be positioned as a career that meets student objectives, including as a path to becoming a business owner/ entrepreneur and giving back to their communities. In addition, there needs to be a focus on overcoming misconceptions about what a career in accounting is and isn’t and what skillsets are needed to be successful. While the reality of accounting closely aligns with what students seek in a career, more needs to be done to align student perceptions with the reality about what a career in accounting is and all that it has to offer.
To see CAQ’s Student Pipeline research in its entirety, click here.
Accounting is for everyone
Bold Ambition has launched Accounting+ as an initiative to address the gap for African American, Black and Hispanic accounting students and professionals. Accounting+ serves as a resource that
educates, encourages, and facilitates the adoption of accounting as a career path.