These differing perspectives are among the key findings of the Top Talent Study conducted by the Private Companies Practice Section (PCPS) of the American Institute of Certified Public Accountants (AICPA).

Among the survey participants, 93 percent of partners identified salary as the top motivator, while 80 percent of young professionals pointed to the chance to advance in the firm. In contrast, salary was ranked third by the new accountants, and the partners placed career growth at number four.

"While there is no lack of young talent seeking employment, CPA firm leaders must understand what drives new professionals to join and stay at their firms," said James Metzler, AICPA Vice President – Small Firm Interests. "To enable our members to better understand the needs of the best and brightest, the AICPA learned about the attitudes and aspirations of the most promising young accounting professionals."

According to the survey results, the top five reasons new talent joins a firm are growth opportunities, paid personal/vacation time, salary, respect for the company mission statement, and interesting and challenging projects. In contrast, partners felt new recruits joined their firms for the following reasons, ranked in order of preference: salary, medical benefits, paid personal/vacation time, growth opportunities and paid overtime.

Partners and young professionals, however, do see more eye to eye when evaluating the reasons why new hires stay with a firm. Both groups listed four of the same top five reasons: respect for the company's mission statement, career growth opportunities, salary, and interesting and challenging projects.

To help firms with recruitment and retention, the AICPA has produced a new guide, "Gaining a Strategic Advantage in Recruiting and Retention," containing both the survey results and solutions for staff hiring and retention. This booklet can help firms identify their own understanding gaps and determine a plan for taking action to attract and keep their most eligible employees. PCPS member firms can download the guide at no cost as a member benefit from the PCPS website. It is available to other AICPA members for $30 and non-members for $37.50. For further information, please visit www.aicpa.org/pcps.

PCPS surveyed 645 partners and 646 young professionals from 600 firms during the spring of 2006. Of the partners, 96 percent were CPAs who have been practicing at least 21 years and range in age from 40 – 60. Seventy one percent of the young professionals are CPAs in their 20s and have been practicing less than 10 years.