After a significant pullback in hiring in recent years, large and regional public accounting firms have started expanding their ranks again. Hiring is picking up for positions at all levels as business needs become more complex and global. There is particular competition for professionals at the senior accountant level.

In an effort to stem turnover, many public accounting firms are carefully reviewing their compensation packages to ensure they remain competitive. Raises remain modest, however, and some employers may have a difficult time attracting the talent they need to meet their ambitious hiring goals. Firms that don't offer attractive pay risk derailing their staffing objectives.

In addition to senior-level accountants, demand persists for tax professionals who can help businesses navigate complexities in tax law and expanded financial statement disclosure relating to income taxes. Practitioners with international tax backgrounds and the ability to speak more than one language are particularly valued.