Were you born between 1946 and 1964? Are you wondering how you’d go if you had to compete for your job against those late-20s/early 30s whizkids with business degrees and big ambitions? Not very well, it appears.

A new survey says more than 50% of Baby Boomers competing for accounting, tax and financial services positions in the past year have lowered their job expectations because of lack of skills and education. The 2003 Deloitte Resources survey of contractors’ intentions shows some reasons why accounting, tax and finance professionals are taking up contracting rather than higher-profile managerial positions.

About 76% of resources contractors are baby boomers, and the large number of contractors available means employers are being more selective in their hiring. 26% of baby-boomer participants say employers aren’t employing them because of a lack of skillsets and experience, and 22% are feeling the pressure from an increased number of qualified contractors.

Resources lead partner Deborah Coakley says Baby Boomers are most likely to have been affected by the retrenchment waves of the 1990s, and they feel that any job is better than none. “They have accepted that contracting is a viable career option, but they also are likely to be having difficulty finding a permanent role.”