Accountants looking for a job in Greater Hartford could be in luck this year as the region’s accounting firms appear poised for growth in 2012.
Officials from many of Greater Hartford’s small, medium and large accounting practices say they will be in hiring mode in the coming months.
The growth will continue a trend from 2011, when the number of CPAs at the 10 largest accounting firms in the Hartford region grew by 7 percent.
Among the firms that say they plan to add additional staff this year are PwC (formerly known as PricewaterwaterhouseCoopers), Deloitte & Touche, J.H. Cohn, BlumShapiro, and O’Connor Davies, among others.
Officials say the hiring is related to both an improving economy and increased rules and regulations being placed on accounting firms and their clients.
“Because of the changing regulations and things going on in the economy, companies need to do things differently to position themselves for the future,” said Keith Hubert, managing partner of the PwC Hartford office. “That is driving more work and requiring us to hire additional people.”
Hubert said PwC’s Hartford office grew by 19 percent in 2011, with its total staff increasing from 300 to 359. While growth in 2012 may not be as aggressive, he said, the firm will be in the market for hiring both experienced and entry-level accountants.
The growth of PwC clients coming out of the economic downturn is creating more business for the company and the need for more employees, Hubert said.
Pent up demand for senior-level people, some of whom may have been laid off in recent years, also appears to be on the rise. Marcia Marien, whose Norwich firm Marien + Company recently merged with New York-based O’Connor Davies LLP, said the firm plans to hire 30 additional accountants in 2012, with a particular focus on professionals with five or more years of experience.
Recruiting is a challenge, Marien said, because many firms are playing hardball trying to keep their top talent. One thing she searches for is public accountants who are looking for a more stable work schedule.
“If you are looking for a 9 to 5 job, it’s not in public accounting,” Marien said.
Connecticut’s accounting industry held up pretty well during the economic downturn over the past few years, as many firms avoided large scale layoffs, although there were some cutbacks.
There also have been a series of mergers in the state in recent months with some new players like Grant Thornton entering the market. That could lead to more new hiring among firms looking to bolster their presence in Connecticut, experts said.
West Hartford accountancy BlumShapiro is planning a 32 percent increase in hiring in 2012, said Sara Bell, the firm’s human resources director. Part of the hiring will focus on recent college graduates, with a particular focus on recruiting new auditors, although the firm will also be in the market for tax professionals, Bell said.
College recruitment among accounting firms is competitive, and most firms, particularly the Big 4 and larger regional players, have comprehensive internship programs that aim to attract top students during their junior year, with the hopes of making them full-time staffers when they graduate.
Laurie Londergan, the managing partner at Deloitte’s Hartford office, said the firm plans to be aggressive as ever on college campuses, and will likely bring in more entry-level accountants than in recent years.
“There has been more of a focus on identifying top talent at a younger age,” said Londergan, who added that all the firm’s practices, including audit, tax and consulting is looking to add staff to support the firm’s growth.
John Turgeon, a partner at J.H. Cohn LLP’s Farmington office, said his firm plans to expand the practice by looking for both experienced and entry level accountants. The New York firm recently pulled off a major deal when it acquired Farmington-based Kostin, Ruffkess & Co., which grew its Connecticut’s presence to over 200 people.
Turgeon said the company will be actively recruiting on college campuses including the University of Connecticut, University of Hartford, and Central Connecticut State University.
“We are looking for more entry-level hires so we can continue to challenge people above,” Turgeon said.
