EY is increasing its bonus for early-career accountants who pass all four parts of the CPA exam in their first year at the company. Beginning June 1, new hires who achieve this can receive a $10,000 bonus.  

Accounting Today reports that the bigger bonus is part of EY’s effort to attract and keep accountants, as firms across the country are dealing with a shortage of CPAs. EY also recently shared plans to invest $1 billion in pay, technology, and workforce programs to help with hiring and professional development. 

Diana Kutz, EY Americas assurance talent leader, said the higher bonus is meant to encourage new professionals to get certified sooner. “To create a vibrant and growing pool of future CPAs, EY is doubling its bonus for early certification,” Kutz said in a statement to CFO Dive. She also mentioned that this effort will support the firm’s 360Careers program, which helps early-career staff try out different roles and build skills for today’s technology-focused workplace.  

This change comes as the accounting field searches for ways to attract more people to the CPA profession. Recently, many states have created new paths to licensure, allowing candidates to meet experience requirements with fewer academic credit hours than the usual 150-hour rule.