As we near the second quarter of 2025, many of us in the accounting industry want to know: how is the job market? And what’s the general “state of things” for companies looking to hire accounting professionals as well as job seekers searching for their next great employer?
We rounded up some data about the state of the accounting job market here in Colorado from a few different sources. Here are a few highlights:
- Significant growth in the accounting sector – The Colorado Chamber of Commerce issues a Quarterly Jobs Report with industry spotlight. The Q3 2024 report spotlighted the accounting industry, sharing some promising statistics for the period between July and September 2024:
- Accounting job openings increased 31% over the quarter, while finance job openings increased 15% over the quarter.
- Accounting was the top Colorado sector for job vacancy growth between July 1 and September 30, 2024 (31%). Accounting ranked #3 for job vacancy growth in Q2 2024 (15%).
- There were 5,728 vacancies in the business and financial operations occupations category as of September 30, 2024.
- Of Colorado’s top 15 highest-paying job titles, Finance Manager ranked 15th, with a salary midpoint (50th percentile) of $125,008, and Accounting Manager ranked 21st, with a salary midpoint of $119,995.
- Strong earning potential – The Colorado Workforce Development Council’s annual Colorado Talent Pipeline Report came out in January 2025. Each year, the report lists the top jobs in the state—specifically, occupations that have:
- 40+ job openings per year
- Over 13% average growth rate over 10 years
- Earnings above the Massachusetts Institute of Technology livable wage threshold. In Colorado, MIT’s tier 1 annual income that can support two adults and one child is $84,489, and a tier 2 annual income that can support one adult is $51,646.
The accountants and auditors job category is considered tier 2, with a median annual salary of $84,202. This is just $287/year shy of the tier 2 threshold.
- A continued talent shortage – The 2024 Talent Pipeline Report points to a gap between the supply of and demand for workers in many industries. In addition, Colorado is like many states seeing a shrinking pipeline of CPAs. With fewer college students pursuing and earning accounting degrees and many accounting professionals nearing retirement, the public accounting industry and companies seeking CPAs are feeling the shortage. Recently, the Colorado State Board of Accountancy adopted a few changes to make it easier to earn a CPA license (including eliminating some college coursework and allowing work hours during an academic internship to count toward the work experience requirement – up to three credit hours). The American Institute of CPAs (AICPA) and the National Association of State Boards of Accountancy (NASBA) also proposed a new rule that would allow individuals to earn the CPA license with 120 credit hours instead of 150. Bottom line: demand for accountants remains high in 2025, and that demand doesn’t seem to be diminishing!
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