This article was published on the ChosunBiz MoneyMove (MM) website on July 25, 2025, at 1:48 p.m.
Amid an industry recession, the four major accounting firms, including Samil, Samjeong, Anjin, and HanYoung, which had previously increased the number of partner promotions while reducing their new hiring, have recently decreased even this number.
According to data submitted by the Financial Supervisory Service to the National Policy Committee member Yoo Young-ha on the 25th, the number of accounting partner promotions in the four major accounting firms for the 2024 business year was identified as 72. This is a decrease of 9 (approximately 11.11%) compared to the 2023 business year (81).
So far, the number of partner promotions in accounting firms has been on the rise. After having 72 in the 2020 business year, 74 in 2021, and 74 in 2022, it even increased by 7 (9.46%) in the 2023 business year, which was hit hard by the recession.
Among the four major accounting firms, Samil was confirmed to have the most significant decrease in partner promotions. In the 2024 business year, 29 individuals were promoted to partner at Samil, a decrease of 9 (23.68%) from the previous year (38). During the same period, Samjeong also reduced from 25 to 21, a drop of 4 (16.00%). However, Anjin and HanYoung saw increases of 3 and 1, respectively.
The accounting industry is experiencing a decrease in work overall, while the resignation rate has significantly decreased compared to previous years, leading to challenges in workforce management. As the venture bubble burst, the number of accountants moving to startups decreased, and job changes to large companies are not easy either. With nowhere to go, more accountants are enduring while utilizing their connections.
From the perspective of accounting firms, the increased burden of labor costs is interpreted as leading to a reduction in partner promotions, where an accountant’s salary would rise significantly upon promotion. When a general accountant is promoted to partner, they purchase equity in the accounting firm, allowing them direct involvement in management and also receive dividends. They may also be allotted a vehicle and a driver.
A representative from an accounting firm noted, "It varies depending on individual performance and company policy, but typically when promoted to partner, salaries increase by several hundred million won. This translates to a significant increase in labor costs from the firm’s perspective." They further stated, "I understand that this year, except for Samil, partners at accounting firms have not received or have minimized performance bonuses due to severe declines in industry performance."
The average resignation rate for the four major accounting firms had hovered around 20%. In the 2020 business year, it was 20.77%, followed by 24.83% in 2021, and then sharply increased to 26.88% during the prosperous 2022 business year. However, in 2023, it plunged to 18.55%, and in the 2024 business year, the average resignation rate was recorded at 18.28%.
In the case of Samil, known to have the lowest resignation rate among the four major accounting firms, it has maintained a single-digit rate. In the 2022 business year, it reached 14.13%, but halved to 7.29% the following year. Recently, it slightly increased to 8.14% in the 2024 business year but still did not reach 10%. Samjeong's resignation rate also decreased from 20.72% in the 2022 business year to 13.04% in two years, while Anjin dropped from 36.65% to 25.01%, and HanYoung fell from 36.03% to 26.92% during the same period.