In recent times, there has been a notable shift in career interests among Gen Z, as they turn their sights to professions often considered mundane by previous generations. According to a new report by Fortune, this younger demographic is not only breathing fresh life into these roles but also reaping significant financial rewards in the process.
Accountancy, traditionally seen as a monotonous career, particularly by millennials and identified as such in a 2022 study, is experiencing a revival. With millions of baby boomer accountants retiring—about 340,000 in the last five years alone—a vast gap has emerged for Gen Z to fill, and they are stepping up to the challenge even before they finish college.
A prime example of this trend is the participation of students in the IRS Volunteer Income Tax Assistance (VITA) program, which was established over half a century ago at California State University, Northridge. The program provides hands-on accounting experience to students by assisting low-to-moderate income taxpayers with their tax filings. In 2024 alone, students from the university helped more than 9,000 individuals secure nearly $11 million in tax refunds and $3.6 million in tax credits.
Rafael Efrat, director of the VITA program at the university, points out that young people often change their perceptions of accountancy once they experience the field practically, realizing its essential role in the real world.
While the appeal of accounting may initially have altruistic roots, the financial benefits are undeniably alluring. According to Glassdoor data cited by Fortune, the average annual salary for an accountant stands at $93,000. With experience and in certain industries, this figure can rise to $122,000, and certified public accountants can expect even higher earnings close to $200,000 annually.
This resurgence of interest from Gen Z in accounting suggests a broader trend of redefining career expectations and valuations. It appears that this new generation is not only open to reviving traditional roles but also capitalizing on them, ensuring financial stability while contributing significantly to societal needs. As these young professionals step into roles vacated by baby boomers, they may well redefine what is viewed as a “boring” job, marking a transformative shift in the workplace landscape.