Accounting and Finance Graduate Employment Outcomes: Underemployment, Self‐employment and Managing Diversity

Abstract

The employment landscape for new graduates is increasingly challenging due to rapid changes in automation and globalisation, coupled with softening labour markets arising from economic uncertainty. For accounting and finance, there is the added complexity of a shift away from traditional core responsibilities and evidence of marginalisation among certain groups within the professions. The study used national data (N = 40 141) to examine the employment outcomes of accounting and finance graduates in Australia. Findings indicate weak full‐time, short‐term employment outcomes among graduates with little variation in recent years. High levels of casual working were evidenced and the proportion of self‐employed was relatively low in comparison with the broader workforce and was dominated by male and older graduates. Of those working, 45% were not in graduate‐level employment. There were variations in patterns of employment and underemployment by individual characteristics. The study informs stakeholders of prevalent employment trends and determinants of postgraduation outcomes in accounting and finance graduates, in addition to insights into how these professions are progressing in managing diversity. Implications for stakeholders in relation to improving graduate employment outcomes, as well managing diversity, are discussed.

Attracting accounting and finance graduate talent – beyond the Big Four

“…A recent International Labour Organization report (2020) indicated that young people (aged 15–24) are three times more likely to be unemployed or underemployed than their adult counterparts. Graduates of Accounting and Finance courses in Australia are no exception with many working fewer hours than they wish and/or in roles that do not utilise the skills and knowledge acquired in their degree (Jackson, 2020a). To address this situation, universities are now putting greater emphasis on augmenting graduates' capacity to take ownership of their own careers to ensure both greater career sustainability (De Vos et al ., 2020) and opportunities for development.…”

Graduate Employability of Business Students

“…One study on 28 lowincome Asian nations found that only about 13% of university graduates were considered to have the requisite skills and competencies that are required for their jobs (P. Brown et al 2011;Verma et al 2018). A survey of employment outcome of over 40,000 accounting and finance graduates in Australia found that only about 55% were in graduate-level jobs, with many graduates in short-term, casual, or part-time work (Jackson 2018;Bennett et al 2020). In 2015, about 30% of new business graduates in Australia were still unemployed four months after their graduation (Graduate Careers Australia 2015, as in, McArthur et al 2017.…”

Cryptoassets: Definitions and accounting treatment under the current International Financial Reporting Standards framework

“…Due to limited precedent set for the financial accounting of cryptocurrencies and related revenue recognition, no official guidance has yet been provided by the Financial Accounting Standards Board or the Securities and Exchange Commission (SEC); thus, it is unclear how companies may in the future be required to account for cryptocurrency transactions and assets and related revenue recognition. A recent paper by Jackson and Luu (2023) suggests some definitions and guidelines for accounting digital assets. Nevertheless, the paper falls short of fully addressing the main concerns raised in the EFRAG DP.…”