Get a load of this article Reuters published today:
A short excerpt:
U.S. accounting firms including RSM US, Moss Adams, Bain Capital-backed Sikich and Apax Partners-backed CohnReznick are expanding their operations in India to tackle an acute shortage of accountants at home.
“This could be the breakthrough moment for public accounting firms in India,” Balaji Iyer, managing partner at Moss Adams India, told Reuters. “Right now, the U.S. is facing a significant and growing shortage of certified public accountants, a trend that will only intensify in the coming years.”
Do you know why the US is facing a significant shortage of CPAs? Because firms kept starting salaries low for so long by the time anyone was willing to nudge them up it was too little too late. And do you know why it is going to intensify in coming years? Because firms are slashing US staff and replacing them with offshore talent.
How convenient that the solution to this problem, as stated by this Reuters piece, is hiring people in India who work for a fraction of US wages. Funny that.
