Welcome to your VSCPA Highlight!

With your VSCPA membership, you gain access to many different benefits. To help you leverage all there there is to gain, we're going to be highlighting different membership benefits.

On this highlight, we're talking about research regarding capacity. 

150-Hour Resource

With a slowing pipeline of professionals into the CPA profession, is the requirement for 150 hours of education to blame?

In September 2022, the VSCPA Board of Directors convened a special 150-Hour Task Force to gather data on the 150, review challenges to the CPA pipeline, and make a recommendation to the Board on if the VSCPA should change its standing position supporting the 150-hour requirement for licensure. Sixty-three percent of task force members are interested in eliminating the 150-hour requirement. To learn why, read the whole article here.

This research debuted in our quarterly publication Disclosures, an award-winning magazine that compiles important resource and articles for our members. You can find all our Disclosure publications by going to vscpa.com > Menu > News > Disclosures.

Recruitment Guide

We have all felt the squeeze when it comes to capacity. The unemployment rate for workers in financial operations is 1.8%, and those pursuing a CPA continues to drop. 

While the accounting profession is responding in force -- scholarships, CPAs in the classroom, revised exams, the 150-hour task force -- you need talent now, and we at the VSCPA want to help you find that talent. That's why we've created a 34-page recruitment whitepaper, to empower you with meaningful strategies, insight and research. 

We organize the information around three different topics: direct recruitment, alternative staffing solutions and your onboarding/staffing process. Each section is chalk-full of tips and research.

You can access the whitepaper by going to vscpa.com > Menu > Resources > Resource Centers > Capacity Center, or just click here. Be sure you're logged in as only members can access this page.

Also, if you're looking to post or find a job, don't forget about the VSCPA Career Center.

Compensation and Benefits Survey

To best empower you, we conducted research around compensation and benefits in the state of Virginia so you can position yourself to acquire the best talent. 

Here are some highlights:

• Entry salaries have increased by 15.5% to $59,022.
• First-level supervisors salaries are around $84,645.
• Partners are hovering at about $211,733.
• Firms and companies, across the board, are increasing base salaries, even at the expense of partner salary increases.
• Raises increased across the board, with a mean of 7.6% between 2021 and 2022.
• Turnover is roughly 12%.
• And there is little variance in pay between corporate finance, government or nonprofit compared to public accounting.

While the complete survey is an additional price, members get a discounted price. Plus, you can access a lot of the information via this page.

Eager to discover all your membership benefits? Check out our Membership Benefits page.

If you have any questions about membership or benefits, feel free to send us an email at [email protected] or give us a call at (800) 733-8272.