Here's how to save the accounting profession:
The top 100 accounting firms agree to stop exempting their people from overtime. Every person in the firm earns 1.5x pay for hours over 8 per day and 40 per week.
This creates a financial incentive for firms to figure out how to create a culture that prioritizes both profits AND healthy living. That includes both staff AND partners.
If all the large firms did it together, they'd be on an even playing field.
Working 70-80 hours a week for even a few months at a time is not healthy. Busy season is the main reason students avoid an accounting career. And it's a big reason we lose so many young accountants in the first few years of their careers.
If we want to save the profession, we need to rethink the busy season. That means rethinking the business model built around it.