As public accounting firms broaden their role as business advisors and clients demand a more sophisticated level of service, the need for experienced specialty services professionals continues to grow. At the same time, the scaling back of entry-level hiring that began several years ago has led to a shortage of mid- and senior-level personnel at public firms. This is accompanied by increased competition from the private sector for experienced public accountants. As a result, public firms are placing heavy emphasis on retention efforts and salaries are rising.