EY invests $1 billion into the accounting pipeline

Everyone loves a good requel—a franchise reboot that reinvents a beloved classic with a modern twist to attract a younger generation of fans.

EY apparently thinks the accounting profession is a prime candidate for such a makeover, with a budget that would make even Marvel Studios blush.

The Big 4 accounting firm “announced plans to invest $1 billion over three years in talent and technology to revolutionize the experience of early career accounting professionals and improve the attractiveness of the profession,” according to a news release.

EY said it will use the money to boost compensation for early career professionals, strengthen “well-being benefits,” create “AI-enabled audit and tax platforms,” conduct “outreach and support for college students,” and implement a new “launch pad and accelerator” program for campus recruits.

“Our goal is to make EY US the most preferred place to launch an audit or tax career and become a springboard for future business leaders—for our own organization and leading public and private enterprises,” Ginnie Carlier, EY Americas vice chair of talent, said in the release.

EY dished out the details for each of its objectives.

The planned pay bump would put the accounting profession “on par with other business majors,” according to the announcement. Meanwhile, EY is implementing AI capabilities into its audit platform “to enhance audit quality, improve productivity, support risk assessment, and deliver better insights.”

“Our focus on the intersection of technology and talent provides our people with opportunities for continuous learning, which ultimately benefits our clients,” Kevin Flynn, EY Americas vice chair of tax, said.

EY named its new accelerator initiative “360 Careers.” Starting next year, it will equip campus recruits with skills they’ll need to be successful at the firm, become entrepreneurs, or eventually land a role in a C-suite.