Overtime in Accounts Job

lissy

I have recently got a new job as an accountant. It is my first senior role and in the interview i was informed that I would be obliged to do overtime at monthend etc. I have no problem with this but when i received my contract it states that I will not be paid for overtime. :eek: Does anyone know if this is normal? The job is in a multinational company.
My current role doesn't entail overtime and in previous roles I have always been paid. I don't mind putting the the odd few hours in but if I have to work late a week a month then I should think i should be paid for it?

AARRRGH

Have you signed the contract?

I am OK with putting in some extra hours if it's a "give and take" kind of organisation.

Currently I'm in a multi-national and I get paid for overtime.

lissy

No not yet. As you say, I don't mind if it is give and take but I was told by 3 different people that interviewed me that staying late is required. I was really shocked when it mentioned it in the contract.

calsatron

Most Senior/Profesional level finance roles wouldn't pay overtime as a matter of course. However the basic salary and benefits would compensate for it.

As a rough guide I would question any company that paid less than 50k for a senior position and didn't pay overtime/bonus/significant other benefits.

Its not unusual for companies to advertise senior positions that are anything but as a way getting experienced staff in on unfavourable terms.

You can be sure of one thing though if they mentioned overtime at the interview then take that *10. For example I worked for a large IFSC based multinational bank that had a three day month end turnaround. During that month end week I'd put in around 60hrs on average, that was the norm in the department.

DublinDilbert

calsatron wrote:

Most Senior/Profesional level finance roles wouldn't pay overtime as a matter of course. However the basic salary and benefits would compensate for it.

As a rough guide I would question any company that paid less than 50k for a senior position and didn't pay overtime/bonus/significant other benefits.

Its not unusual for companies to advertise senior positions that are anything but as a way getting experienced staff in on unfavourable terms.

You can be sure of one thing though if they mentioned overtime at the interview then take that *10. For example I worked for a large IFSC based multinational bank that had a three day month end turnaround. During that month end week I'd put in around 60hrs on average, that was the norm in the department.

This would be the same in most professional roles eg engineering

MementoMori

Unfortunately this has become all too common, even at lower and middle-management levels.

A lot of financial companies, particularly funds companies would not pay overtime and would expect you to work a lot of overtime. They would then claim that they would take this into account when deciding bonus levels.

However when it comes to bonus time, they just hand out the same bonus to the same levels accross the company irrespective of overtime.

My previous employer did this => hence previous.

I would make a point of asking in interviews how the companies deal with overtime and work-life balance.

I will not work somewhere that doesn't pay overtime. If they don't pay me a bonus fair enough, but if I have to be at work then they have to pay me.

I think it is an appalling way for companies to act

digitally-yours

That's disgraceful

No overtime payment ?

yes i will agree if its over 50K you shouldn't be expecting overtime as the benefits would match that.

But getting paid 30-35 k and not getting overtime means you are getting sc*ewed . They are saving that extra 4 or 5 grand a year which should be in your Account .