Does my salary compare well?

F

firsttime

Guest
Hi,

I am not sure if I am in the right section but....

I am due a pay review next mth. I am 27 y/old part qualified ACCA, with three exams to go (hopefully to get this june) I work in industry.

I am currently on €28k pa, I started as Accounts Assistant but the financial controller went on mat leave last March and has decided not to come back so I am basically covering her job now full-time, answerable only to the Fin. Director. It is a small company with t/over of approx 1.7million per annum.

They have said that they do not intend to replace the Fin. Controller and that the position will be made redundant.

Should I be earning more....or should I be happy with what I have for now!

Would really appreciated some input from others who have experience in similiar roles or who know the current salary expectations for part-qual ACCA.

Cheers
 
Are these links any use?
 
salary

Thanks O,

great help.

One more thing.....as I mentioned they have made the position financial controller 'redundant'. My current status is accounts assistant, should I request a change in title as I no longer "assist" the financial controller. they obviously cannot offer me that title but I can not think of a suitable alternative that I could put on a future CV to show that I now do more then assist.

Cheers
 
Hail to the Chief !

I'd ask for the title "Chief Accountant", as they typically report into the FC.

Don't get too hung up on job titles though. As any decent recruiter will tell you, it's what you did in the job that matters, not what the job title was.

I might actually keep the job title argument until after the pay review, as your employer could use an "improved" job title to offset your pay demand.

One thing that Irish employers often forget is that job titles cost nothing, and are often a very effective tool in motivating people.

People Express (the doomed US airline) was the first to cotton on to this, and gave all their employees managerial job titles.
 
Re: Hail to the Chief !

Try [broken link removed]. It's a 2003 salary survey from the Leinster Society of Chartered Accountants. I haven't read it so I don't know if it's useful.

The LCSA write:
Yet again we are indebted to Brendan Burgess of The Accountants Panel for his assistance in collating the information.
Click to expand...

He does get around.... does he do any real work??

Sluice
 
salary

I would envy your salary at your age. Its an awful lot of money. I wish I had a job like that.
 
Re: salary

There's nothing to stop you trying...
 
You need an increase firstime

All seems a bit strange to me that a company with a t/o of only 1.7 million would have a FD, a FC and an accounts assistant as wll, jeez...............

If I were you I would go for a job title of either Financial Accountant, Management Accountant or Company Accountant. Chief Accountant would be appropriate if you had other assistants reporting to you which I don't believe is the case.

As a "finalist" accountant i would be looking for at least 40,000 but obviously dependant on your experience and size of the company.

Get the word "assistant" off your job title as quickly as possible. It may be the case that you will need to change jobs to get the increase you deserve.

Aphrodite
 
FD & FC & Assistant

When I started in the company (2 years ago) I did think alot of stage in the finance dept. but the Fin Director is in name only he works in sales travelling around USA!!!! The Fin controller on was only part time and couldnt cope so they employed me...so I am more or less running the show! I deal directly with the external Auditors and I havent had more then a text message from the Fin Director since Aug 2003! She (fin Dir) doesnt come to any meetings with the Auditor and I do all the bookkeeping and bring the accounts to trail bal stage for the auditor etc etc.

So this is why I feel a little underpaid as I have a lot of responsibility despite my "youth" and qualifications
 
Re: FD & FC & Assistant

I do all the bookkeeping and bring the accounts to trail bal stage for the auditor


Do you only bring the books to Trial Balance stage? If that is the case surely your title would be closer to book-keeper?
 
salary

Yes, and surely 15,000 is plenty for a book-keeper? It sounds an easy enough job to me, nice and clean and 9 to 5 ish.
 
only bring accounts to TB

I would like to point out to Christy, that firsttime has stated that he/she isnt fully qualified therefore would not be able to bring the accounts any further then trial balance, an external auditor is then required to produce the financial statements!!!

Firsttime, I think that you have quite a lot of responsiblilty in the company and if I was your fully responsible for the financial affairs would want a salary package that reflects same.

Sounds like you are doing a good job keeping this ticking over....

CuriousLar
 
be realistic J

HI J,

thanks for your comments, would love to know if you have your own business or what you work at, would you pay some-one 15k to look after YOUR accounts and manage your cashflow.

........If you pay peanuts you get monkeys......

Thanks for the words of encouragement CuriousLar and all.

FT
 
Go for it !!

I prefer a system that rewards "accountants" (in industry) for their ability and competence and commercial flair rather than one that rewards qualification.

The scale of "worth" for accountants in industry is extreme from one end of the scale to the other and not necessarily (or at all) based on qualification.
I work in an organisation where an exceptional part-qualified accountant leads a team of qualifieds and deservedly so. I am aware of certain qualified acountants that don't or can't contribute too much.

Bringing accounts past trial balance is a complete red herring. Final accounts can be taken out from a "completed" trial balnce in a matter of minutes.
Auditors have a different function and that is to provide an oppinion (based on their audit) on the financial statements presented by the directors.

In Industry Management acounting is far more relevant than Financial accounting as this is the discipline that provides management with the necessary information and controls to steer the business on its path.

In short, firstime only you know how valuable you really are to your organisation.If you believe that you are more valuable then the chances are that you are correct. Go for it !!
 
thanks

Thank you Aphrodite for your positive response, I feel more justified in my concerns and will be more confident at my review.

Will keep you posted as to my 'revised' salary.

Thanks all again for your input.

FT
 
Re: thanks

From a Finfacts linked site:
The Irish accountancy industry remains in rude financial health, according to the latest survey of the industry by FINANCE, with fee income for the 17 largest firms rising by more than 15 per cent to €574 million. But for those working in the industry, salary expectations for the next year should be modest with most firms believing that average salaries will rise by no more than 5 per cent.
Click to expand...

Hope you beat the average!
 
Re: thanks

average salaries will rise by no more than 5 per cent.
Click to expand...

I'd be happy with that having taken a 25% pay cut a couple of years ago and no increases since! :(
 
salary

Give a book-keeper a fancy title and they think they can charge the earth. Why is it so expensive to look after the financial records of such a small company?
 
Re: salary

I'm not saying that it's buttons but €28K is only slightly above the average industrial wage (c. €26K) as it happens...
 
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