I'm a chartered accountant whose worked in small accountancy practices for 35 years. There's absolutely NO WAY my son will be following the same career path. Outside the cities, pay is awful and has been stagnant for years (on a par with teachers but without the perks such as pensions, holidays, etc). Definitely over-worked and under-appreciated.
We've had a succession of bureaucracy, laws, regulations, training & insurance obligations forced upon us that just sucks our time and energy and doesn't do anything for our clients. We've had to endure money laundering regulations, making tax digital, and now GDPR which is completely unnecessary as our own professional body rules regulate confidentiality, record keeping, record destruction, etc.
The word "accountant" isn't protected by law so literally anyone can (and does) set up as an accountant, without the client having any protection i.e. no training obligations, no insurance, no professional body to complain to etc - I pick up a lot of clients who've suffered at the hands of unqualified or part qualified "accountants" thinking they were properly regulated in the same way as solicitors, architects, etc.
I really can't wait to escape and retire, but it's a long way off as I've never been able to afford a decent pension, so in all likelihood, the best I can hope for is going part time as semi-retirement and then working till I drop.
I've had long conversations with my son and made it abundantly clear that he's not taking over my business, and if he wants to become an accountant, he's doing it via the industry/commerce route rather than accountancy practice. Hopefully, he will choose a different career!