The New Jersey Society of Certified Public Accountants (NJCPA) awarded $190,000 in scholarships to 40 New Jersey-based college and high school students Thursday at the Pines Manor in Edison. The NJCPA Scholarship Fund gave out 27 awards to college students and 13 awards to high school students out of a combined pool of more than 220 applications.
The college students each received between $2,000 and $6,500, while the high school students each received $1,500 awards.
The job outlook for aspiring accountants and auditors looks strong over the next decade. The Bureau of Labor Statistics forecasts 91,400 jobs will be created between 2023 and 2033 and the job-creation pace of 6% exceeds the average. The 2024 median pay is $81,680 a year.
According to the New Jersey State Board of Accountancy, there are 21,158 people with active CPA licenses, including those from other states who have gotten a reciprocal license in New Jersey.
College student recipients attend the following colleges and universities: Brookdale Community College, College of New Jersey, Essex County College, Fairleigh Dickinson University, Georgian Court University, New Jersey City University, Rider University, Rowan University, Rutgers University, Seton Hall University, Stockton University, and William Paterson University. College winners were accounting students at New Jersey colleges or universities who are currently in their junior year or in their senior year and entering an accounting-related graduate program.
NJCPA’s college awards also included Minority Scholarships in association with the American Institute of CPAs (AICPA) and the National Association of Black Accountants – Northern New Jersey (NABA-NNJ).
This year’s high school recipients attend the following high schools: Carteret High School, Kearny High School, Marlboro High School, Morristown High School, Monmouth Regional High School, Northern Burlington County Regional High School, Northern Valley Regional High School at Old Tappan, St. Rose High School in Belmar, Wall Township High School, Washington Township High School and Wayne Hills High School.
High school award winners were college-bound seniors in high school who plan to major in accounting or obtain a concentration in accounting.
The Deloitte Foundation funded four scholarships for college students pursuing accounting degrees and three NJCPA Scholars Awards to high school students. The NJCPA chose and distributed the $1,500 awards to students at select high schools in under-resourced communities in New Jersey. This year’s recipients attended Carteret High School, Marlboro High School, and St. Rose High School.
“Encouraging the next generation of CPAs and accounting professionals should always be top of mind. It’s a pleasure to be recognizing such outstanding students,” said Angela Garofalo, president of the NJCPA Scholarship Fund and a partner at Citrin Cooperman.
The NJCPA Scholarship Fund has awarded more than $7 million to high school and college students since its inception in the 1960s. The fund has supported more than 1,700 New Jersey students on their way to becoming CPAs. Scholarship winners had to meet criteria regarding academic performance, standardized test scores (if taken), essays and personal interviews. Eighty-four NJCPA members read essays and held interviews to pick the scholarship recipients.
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