Why Leading U.S. Companies Are Turning to LatAm to Fix the Accounting Talent Crisis

 



Why Leading U.S. Companies Are Turning to LatAm to Fix the Accounting Talent Crisis

Introduction

The U.S. is facing a serious accounting talent shortage. A growing number of accountants are retiring, fewer graduates are entering the field, and companies are struggling to keep up with rising salaries. This shortage is hitting mid-size firms and large enterprises alike, leaving them scrambling to fill critical roles such as staff accountants, tax accountants, and controllers.

But forward-thinking businesses have already found a solution: tapping into talent in Latin America (LatAm). Thanks to aligned time zones, highly skilled professionals (many trained at Big Four firms), and significant cost advantages, LatAm is emerging as the preferred destination to fill accounting roles—often through Employer of Record (EOR) services.


From Big Four-Trained Professionals to Aligned Time Zones: Why LatAm Is the Place to Fill Accounting Roles

1. Big Four Experience at Lower Costs

Many accountants in LatAm are trained at KPMG, Deloitte, PwC, and EY, bringing the same expertise as U.S. professionals—but at a fraction of the cost.

2. Time Zone Alignment

Unlike outsourcing to Asia, LatAm professionals work in nearshore time zones, making collaboration seamless. Teams in Mexico, Colombia, and Brazil can easily align with U.S. working hours, ensuring real-time communication.

3. Cost Savings

Hiring in LatAm offers significant cost advantages. Companies save 60–70% on average compared to hiring accountants in the U.S., without compromising on quality.

What This Looks Like in Practice: Salary Analysis

The chart below (sourced from Near) highlights the salary gap between U.S. and LatAm for senior-level accounting roles:

Role

LatAm Average Salary

U.S. Average Salary

Savings by Hiring in LatAm

Accountant

$48,000

$116,500

$68,500

Staff Accountant

$39,000

$101,000

$62,000

Controller

$75,000

$227,500

$152,500

Tax Accountant

$39,000

$127,900

$88,900

Analysis:

  • Companies can save over $150,000 per year by hiring a controller in LatAm instead of the U.S.

  • Even at entry-level, staff accountants in LatAm cost 62% less than their U.S. counterparts.

  • These savings allow firms to scale accounting teams faster while maintaining profitability.


How EOR Services Are Powering This Shift

The rise of Employer of Record (EOR) services has made LatAm hiring even easier. Instead of opening costly entities, U.S. companies partner with EOR providers who handle:

  • Payroll and tax compliance

  • Employment contracts

  • Benefits administration

  • Regulatory compliance

  • HR support and onboarding

This means businesses can hire in LatAm within weeks, not months, without worrying about compliance risks.


Future Growth of LatAm Accounting Recruitment

  • According to industry reports, over 45% of U.S. companies plan to expand hiring in LatAm by 2027, with accounting and finance among the top roles.

  • The global EOR market is projected to grow at a CAGR of 15–18% through 2030, with LatAm being one of the fastest-growing regions.

  • By 2030, experts estimate that 30–35% of all LatAm cross-border hires will be made via EOR services, as companies prioritize speed, compliance, and scalability.

% of Recruitment by EOR: How Much Are EOR Services Used?

  • Currently, about 20–25% of U.S. companies hiring in LatAm rely on EOR providers to manage workforce compliance.

  • By 2025, this number is expected to exceed 40%, as more firms recognize the cost and legal risks of DIY entity setup.

  • EOR adoption is particularly high in finance, IT, and professional services, where cross-border compliance is complex.

The U.S. accounting talent shortage isn’t going away anytime soon. But smart companies aren’t waiting—they’re already solving the problem by hiring skilled professionals in LatAm. With aligned time zones, Big Four-trained accountants, and savings of up to $150,000 per role, the case for nearshore hiring is undeniable.

And with the help of Employer of Record (EOR) services, companies can seamlessly onboard, pay, and manage teams in LatAm without the headaches of compliance.

👉 For firms that want to stay competitive, the path forward is clear: partner with an EOR and build your accounting dream team in LatAm.

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