After a tough period that entailed significant layoffs, public accounting firms are starting to regain their footing and add staff. Much of their recruiting efforts are focused on chartered accountants (CA) and those working toward that certification. Some firms also seek candidates with the certified general accountant (CGA) and certified management accountant (CMA) designations, as well as a master’s degree in business administration (MBA) to handle more consulting-related roles.

Accounting firms are facing recruiting challenges, however, as businesses in the private sector compete for candidates with many of the same skills. Some firms are putting more emphasis on recruiting overseas candidates and recent immigrants in an effort to tap new talent pools. These professionals can also help firms meet the demands of an increasingly global business environment.

Compensation structures have remained relatively static, but chartered accountants with at least three years of experience are likely to see the largest raises. Some firms are trying to be more creative by offering bonuses, flextime and other nonmonetary incentives in lieu of salary increases. Still, some employers may have a difficult time recruiting and retaining the talent they need if they cannot offer competitive pay, greater work/life balance and an attractive career path.