Robert Bilotta, managing partner of New York-based Connexus Group, agrees. However, he notes, if bonuses were off from prior years, accountants have the benefit of remaining in great demand. "They can always find another position. The demand hasn't waned," he points out. "It's a structural and demographic issue."

Consulting firms, public accounting firms and those on the professional services side of the business are in the most need of skilled CPAs, he says.

Additionally, says Cronig, the recent credit problems, as well as the problems at Societe Generale, may necessitate the call for more audit personnel. "This may breathe new life into the field," he says. "Luckily, accountants are needed in good times and in bad."

Up the Corporate Ladder

Many CPAs understand that promotions come about only by moving from one company to another, says Bob Lee, president of Gibson Martin Careergoals, an executive recruiter in Kinnelon, N.J. "Often, people are managing their career by moving to a new company. The reality is that firms can't always promote all the time," he explains. But sometimes, accountants merely want some changes made to their current position, and by going along their firm can encourage them to stay onboard. Says Lee: "Sometimes the needed changes can be more subtle."

Lee notes that many people jump ship simply for more money. "Companies will attract people with skills related to the job that they need done, and they will attract them initially with more cash and the hope of growth," he says. "Sometimes a candidate will wind up with a company and find out they are still doing the job they were doing before. This can get old quick."

His advice? Think before you make the jump. "There's nothing wrong with making more money or finding a job closer to home," he notes. "But don't simply fall for the bait." To Lee, that means making practical and well-thought-out decisions.