« 'Cool' As a Differentiator | Main | Marketing Investments for 2007 »

April 12, 2007


Feed You can follow this conversation by subscribing to the comment feed for this post.

Rick Telberg

Indeed! "the future we've worried about" may be here already.

Michelle Golden

Thanks for bringing more attention to this important issue, Rick, with your post here:


The salaries for starting CPAs are *so* low compared to law. This is surely one thing that students consider. A couple more years in school and their salaries easily start at double.

But I don't think that is the core of the problem.

Note that even those high law firm salaries aren't enough to "retain" people in law firms. The high attrition rate for young lawyers illustrates this.

The accounting profession is not far behind. With so many leaving, it's no wonder there is a shortage of "partner-material" people at the senior/manager level! In many cases, those with the most vision, the most potential for leadership, are the most proactive and have moved on.

From what young practitioners tell me, I suspect the problem lies with partnership model. It's just not enticing and satisfying enough to motivate the best and the brightest to stick around anymore.

What will firms do to make the firm (partnership) environment more appealing to future owners of the type they want?

I'm not hearing firm owners talk much about this. Mostly they are distraught over the problem and just keep hoping it will remedy itself.

If no solutions are applied, merger is the only option for the succession of many firms and with the number of firms available as merger candidates, it's a buyer's market. I suspect quite a few will just have to close their doors.

Sorry to sound doom & gloom, but profession, we have a problem!

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Your comment could not be posted. Error type:
Your comment has been saved. Comments are moderated and will not appear until approved by the author. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.


Post a comment

Comments are moderated, and will not appear until the author has approved them.

Your Information

(Name and email address are required. Email address will not be displayed with the comment.)

Read Michelle's Book

  • Michelle Golden: Social Media Strategies for Professionals and Their Firms: The Guide to Establishing Credibility and Accelerating Relationships (Wiley Professional Advisory Services)

    Michelle Golden: Social Media Strategies for Professionals and Their Firms: The Guide to Establishing Credibility and Accelerating Relationships (Wiley Professional Advisory Services)

    A timeless guide to modern marketing strategies: online and off.

    "The most comprehensive guide that I have seen so far."―Joe Bailey, CPA

    "How to execute social-media strategies and the reasons why they work, written at a higher than most level; a must read if you are serious about social networking." —Anthony Provinzino, Farmers Insurance

    "So much more than a run down of the tools....helps you to think strategically about social media by putting in its proper perspective."―Colette Gonsalves, CPA firm marketing director

    "Extremely well organized ... winning ideas for ... firms to develop and maintain non-cookie-cutter marketing programs that are firm-specific and purposeful."―Richard Weltman, Business & bankruptcy lawyer


Become a Fan

Find Michelle Elsewhere

  • View Michelle Golden's profile on LinkedIn

  • Check out Golden Practices on Facebook

Other Stuff

  • Ranked by Power150

  • Legal Marketing Reader Top Blog

  • lawyer blogs

  • Alltop Accounting Blogs

  • Junta42 Top Content Marketing Blogs


Blog powered by Typepad
Member since 04/2005