The nitty gritty truth, says McCain, is that "new accounting graduates sometimes accept a job but keep negotiating, even after coming to work, or they encounter an atmosphere or job requirements contrary to their expectations."

While this may be humorous fodder for the water cooler, this example exemplifies the need for students to thoroughly investigate their employment options and choose their initial positions carefully. At the same time, accounting educators can play a vital role in helping today's students realize their potential, while also managing their expectations.

What are students of the millennium looking for? "One of the first questions refers to dress code," says McCain. "Our firm, for example, observes 'Business Casual' dress every day, which we find is a big selling point with today's generation. They want to know the tone and culture of the office and, of course, salary also is very important."

Dress codes, salaries and the pool of available accountants are three elements that have changed the face of recruiting in the last decade. She adds, "Changes within our society, and our academic and professional arenas also are having an impact. Ever since the CPA requirements were made more difficult in terms of time and up-front commitment, we've seen a significant drop in the number of students taking the exam, which elevates salaries to compensate for the slack in the supply side."

McCain offers these tips for strengthening the employer/educator partnership. Educators can help students by:

• Motivating them to pursue their CPA certification - "Educators can reinforce students' career choices by telling them often that theirs is a promising field with almost limitless opportunities, particularly when they become CPAs."

• Assisting them in defining realistic expectations (including salary, work loads, and corporate culture) - "Some students come into the interview with grand misconceptions or a fear of the unknown that could be calmed with more information in many cases. Students need to ask themselves if they would thrive on the variety of public accounting (handling a manufacturing firm one day and a retail operation the next), or if they would be happier in industrial accounting, doing a routine set of tasks and developing more of a specialty in one industry."

• Encouraging them to develop a personal profile - "Employment success stories result from a good fit between the individual and the hiring organization, and that fit could be enhanced if students could give the recruiters their personal profiles, showing what's important to them and what they are personally looking for."

• Dispelling rumors - "Some students seem to worry about accounting firms being sweat shops that demand their employees to work 24/7. The truth is that most firms offer flexible hours throughout the year with the exception of tax season."

• Facilitating networking opportunities - "Beta Alpha Psi has chapters nationwide offering several good forums for students and educators to get connected with the business world. Associations like these also offer ongoing professional and personal development training. Professors could encourage students to attend these extracurricular opportunities. If professors wanted to organize their own Career Fair, Meet-the-Firm-Night or bowling outing, it would provide a private opportunity for recruiters and students to get acquainted in an informal setting."

Facilitating internships - "With accounting graduates in short supply, most firms will probably do a pretty good job building relationships with the deans of business schools at universities. Educators can take that a step farther by reminding students of the benefits of such a 'dry run' experience before they hire on for a career position. Educators can work with accounting firms to set up internships and also have students make sure each internship is set up as a learning experience and not a glorified gopher or copy machine operator."

• Sharpening interviewing skills - "Students should constantly be reminded of the importance of selling themselves in interviews, but also reminded to consider each interview more of a conversation than a we-vs.-them situation, so they can relax and be themselves. Educators can also teach students to ask questions to help them determine the personality of the firm."

• Encouraging continued training - "Most accounting firms stress continuing education. Students need to know that they have the option of going to work while pursuing their CPA. Besides the valuable on-the-job training they will receive, our new hires enjoy what we call TW University sessions on topics ranging from tax issues to personal development courses on writing, phone etiquette and goal setting. We also use video series and outside training opportunities to make sure our employees maintain their expertise within the field."

Adds McCain, "If students ask enough questions to find out what to expect on a new job, perhaps they will be less inclined to come into the office on their first day, and leave for lunch … never to return."