So whats everyones salary then?

Shurwhynot

Just curious i'm not being nosy cos i don't know any of you!

I'm only on 16.5k per annum...just began 2nd year as trainee CPA.

Dixie Chick

Ouch, thats tough going. i was earning 17k in my first and second year and then jumped to 24 in my third when I moved to industry. qualified now a year and am earning 36k, CPA also

aintnosunshine

I'm goin into a big 4 in september with a masters and starting on 27k. Joing the ICAI

Sirsparrow

I know those going into one of the Big 4 with a Masters started on 25k

maddogcollins

15K, second year, ICAI CAP 2 level... CRAP in other words

Legend100

16.5K THIRD YEAR, ICAI Fae, some disaster, roll on the end of the year to qualify!!!

Kine

Guys, the fact that you can live on 16k is amazing...truely tip my hat towards you, never realised it was that bad! Bloody hell.

Fortunately, I work in industry and do the ACCA as an aside, so my wages aren't training level dependent (however, when fully qualified, a lot more doors open!)

Sirsparrow

Same here. I'm really shocked at what you lot are on.

I'm a ICAI CAP2 and i'm on a good bit more than that. Hang in there lads (and ladettes)

Mr Clonfadda

yes hang in there for the experience. The money will improve with the experience and it has proved invalueable to me in my later career path.

Stabshauptmann

maddogcollins wrote: »

15K, second year, ICAI CAP 2 level... CRAP in other words

I think you should look for a new job, if you could get into a Big 4 you could see an increase of at least 10k

betonit

what determines what you are on, 1st year traineed 15k with no exams passed? or does amount of exams passed count for anything?

ie if you start trainig with 4 exams you will be on the same wage as if you have no exams passed? (ACCA)

PhiliousPhogg

Firms in Dublin pay more, the medium and larger ones pay much more.

what determines what you are on, 1st year traineed 15k with no exams passed? or does amount of exams passed count for anything?

ie if you start trainig with 4 exams you will be on the same wage as if you have no exams passed? (ACCA)

You'd probably only get more if you had a masters.

crapmanjoe

yeah its horrible being an accountant outside dublin

a friend of mine is on 14.5 in 1st year in the west - no idea how he does it

im in second year, doing fae this year and on 28.5 and i was slightly disappointed witht that, apparently all the money comes once u pass the fae so fingers crossed there will be a big jump next october

EM2008

I'm in shock, I know practice and industry has a big gap but i'm in 4th year in cpa on 50k.
told it'll go up when i qualify.

Hanley

I'm on mid 20's in my first year of an audit contract, sitting CAP 2's in the summer.

A sister firm of ours is paying the grads in Limerick approx. 7-8k less than us from what I've heard.

charba

I'm 2.5 years out of college final year CPA and on 40k. I dont think I could have lived on 16k even when I starterd (I know that as your pay increases your capacity to spend does)

Peterpower

Hey,

Cant speak for the practice side of things but I trained in Industry (ACA)

Im qualified a year now but 4 years ago I started out on 27k. It jumped to 32 then 38 in the final year. I worked in a bank so I got pension + an average of 4k bonuses each year.

Money was great (better than the big 4) but its really down to preference where you want to train.

I wouldnt look at the money side too much anyway its all about getting the piece of paper. Starting levels are min 50k no matter what your doing. I qualified last year and am sitting here on 60K a year.

If anything the lower the wages the more the incentive to pass first time round :-)

marizpan

Are all these very high salaries ( im very jealous) in Dublin?
I started on 12k on 1st yr, than 14k after 6 mths, but now im in industry.
Im in Galway, does anybody earn well here or do we all have to move to Dublin?:D

Bren1609

Its all relative. In my experience, a qualified accountant from any institue starts on 40 - 45K pa. Rent and cost of living is more expensive in Dublin than in Galway. Also, alot of people get caught up in what there gross pay is, keep in mind that you should make your assumptions based on your take home pay ie after tax.

There's a colleague of mine that is less qualified than me, earns less money than me but her take home pay is more than mine due to her tax credits and cut off.

KingJo

I qualified with ICAI in 2008- moved from practice to Industry and am on 38k. reading this thread I can see I am being robbed!!:(

Cookie89

ICAI started CAP 1 at 17.5k and now moved up to 20k and I don't work in Dublin or a major urban centre

smcgiff

charba wrote: »

(I know that as your pay increases your capacity to spend does)

Bigger the salary the bigger the debt you incur. Well, seems that way to me. :eek:

manafana

im on 24K but take away 1k FROM the off on my commuter ticket.

charba

smcgiff wrote: »

Bigger the salary the bigger the debt you incur. Well, seems that way to me. :eek:

Thats true too you just get approval for a larger overdraft well that was how it used to be.

Bren1609

smcgiff wrote: »

Bigger the salary the bigger the debt you incur. Well, seems that way to me. :eek:

Robert Kiyosaki's book Rich Dad Pror Dad talks about this and I have to agree with it entirely.

leonardjos

I qualified with the big 4 in 2007, my finishing salary in contract was 40k. I went travelling for a year and made very good money contracting in Sydney for 6 months. Came back to Dublin in May 2008 and got a permanent job in financial services at 60k plus pension bonus etc.

Hang in there, its definetly worth it when you qualify! Although I would have some concern that pay cuts could be coming down the track for everyone in the accounting business.

gowayouttadat

I'm doing my ACCA finals next sitting and am on 43k plus 8% bonus. I've been working in industry since I finished college and I can't understand how people manage to survive on 16k a year!

Hanley

Bren1609 wrote: »

Robert Kiyosaki's book Rich Dad Pror Dad talks about this and I have to agree with it entirely.

I was just thinking that actually!!

bufootbal

Based on this thread, I thought it would be a good place to ask this.

I am US CPA (fully qualified) that works for one of the Big 4 firms. I am considering an international rotation to spend 2 years in Dublin. I would have one full year of experience of senior associate work before departing.

Can anyone guide me on what my salary might be?

Thanks.

lauramcp

i've being offered a training contract - icai, i have full cap 1 exemptions and the starting salary is €12,500....... and thats in dublin

Slippers

Are you going to take it?

Stabshauptmann

lauramcp wrote: »

i've being offered a training contract - icai, i have full cap 1 exemptions and the starting salary is €12,500....... and thats in dublin

Harsh.

Thats a good 25% below the minimum wage. (Half what Big4 paid 1st years last year)
Theres a line in my contract that says something like trainee pay shant be reduced to account for training expenses or something like that.

Obviously there is some loophole they're using to avoid paying you minimum wage, personally Id contact the ICAI and discuss it with them before accepting the job.

LouOB

Initially in practice I got offered 8k back in the day (punt) and the year before it was 6k. I fount practice (small firm) wasnt for me

Left and went into banking (5yr) and hedge funds (4yrs) - after IATI
I did BA, QFA and eventually ACCA (nearly there, after resitting P2) plus doing another cert with institute of bankers (waiting to hear the crack before I break down). Dont want to specify exact salary as I know peeps who frequent forum but its below par what level I am at (30'sK). But fortunately I buy into that 'gald to have a job' mylarkey with mortgage and bills etc.

I have seen part/newly qualified jobs out there for 27-30k mark.
Do businesses really expect professional work to come for free now - as well as being top notch. You get what you pay for IMO

Hanley

lauramcp wrote: »

i've being offered a training contract - icai, i have full cap 1 exemptions and the starting salary is €12,500....... and thats in dublin

That's an absolute disgrace... you'd get paid more than that in McDonalds!! I can't believe how willing some places are to fcuk trainees over. Makes for a very dim view on the industry.

FWIW I started on pretty much 2x that with CAP 1 exemptions, and non big 4!!

Cookie89

lauramcp wrote: »

i've being offered a training contract - icai, i have full cap 1 exemptions and the starting salary is €12,500....... and thats in dublin

thats a disgrace i entered a training contract 2 yrs ago and had to do 2 CAP 1 exams and I started on €17,500 and that wasn't in a major urban centre. Friends started last year in a major city with all CAP1 exemption s and started on €17500 also.
I would ring the institute and see what they have to say

Running Bing

lauramcp wrote: »

i've being offered a training contract - icai, i have full cap 1 exemptions and the starting salary is €12,500....... and thats in dublin

Thats an insult.

I would rather collect the dole and use my time to study for exams, Volunteer, learn a language or do something else productive with my time..

Stabshauptmann

http://www.icai.ie/PageFiles/50543/Training%20package%20firms%202009%20final.pdf

may contain some useful info

Also Min Wage in Ireland is €8.65 atm.

So at 37.5hr per week (with paid holidays and paid study leave), the min wage is €16,867.50
Even if the study leave (6weeks recommended by the ICAI) is unpaid, you should still get €14,921.25 @ min wage.

Your firm must pay the enrolment fee on your behalf, but can recoup 15% from you i.e. €510.

There is something very messed up about your offer of €12,500.
By any chance, is it €12,500 after tax?

edit: Actually, people who earn below approx 18.5k dont pay PAYE, so I dont know how that could be an after tax figure

Stabshauptmann

Running Bing wrote: »

I would rather collect the dole and use my time to study for exams

You wont get a professional qualification without relevant experience (I know thats true for Accounting, Law and Finance (CFA) anyway).

If you are in full time education eg Masters programme, you are not entitled to the dole.

TBH, if it is 12.5k after tax and includes 6 weeks unpaid leave, then while its complete balls, if you think you want to be an accountant take it.
Its more than the dole (€10,296pa) and you will be doing something social and productive.

Running Bing

Kaptain Redeye wrote: »

You wont get a professional qualification without relevant experience (I know thats true for Accounting, Law and Finance (CFA) anyway).

If you are in full time education eg Masters programme, you are not entitled to the dole.

TBH, if it is 12.5k after tax and includes 6 weeks unpaid leave, then while its complete balls, if you think you want to be an accountant take it.
Its more than the dole (€10,296pa) and you will be doing something social and productive.

I thought you could study for ACCA without a job?

My point is obviously your going to need to get experience eventually but I cant imagine it would take long to come across a better offer than that?

When you add it all up on balance it seems better...more money, experience, being out and working, but I would just find it such an insult I dont think I could accept it. I imagine it would be pretty hard to work in an environment where you know your employer places such a low value on you. I imagine it would get pretty demoralising and depressing.

Tim Robbins

Running Bing wrote: »

I thought you could study for ACCA without a job?

My point is obviously your going to need to get experience eventually but I cant imagine it would take long to come across a better offer than that?

When you add it all up on balance it seems better...more money, experience, being out and working, but I would just find it such an insult I dont think I could accept it. I imagine it would be pretty hard to work in an environment where you know your employer places such a low value on you. I imagine it would get pretty demoralising and depressing.

What does a CFA qualified with 5 years experience salary get now?

Sharlovesjohn

wow i thought my sal was bad on 20K and its my first year with no experience under my belt, and im only 20 cant wait to finish college!!

Sharlovesjohn

Running Bing wrote: »

I thought you could study for ACCA without a job?

You can study any course but to be fully qualified you need experience in the area other wise it doesnt count with acca or any body you get sheets to fill out to send into them with the work experience signed by the company that employed you

thealltimelow

my sister is going to be geting 24,000 from one of the big 4 for her frist year is that good?

Hanley

thealltimelow wrote: »

my sister is going to be geting 24,000 from one of the big 4 for her frist year is that good?

It's very good this year!

clearya

I'm starting with 1 of the big 4 and getting 20.5k. Was originally 22k but due to all the cutbacks the terms were changed. Also no longer getting paid for overtime or getting time in lieu....still, very grateful to have a job!

Stabshauptmann

clearya wrote: »

I'm starting with 1 of the big 4 and getting 20.5k. Was originally 22k but due to all the cutbacks the terms were changed. Also no longer getting paid for overtime or getting time in lieu....still, very grateful to have a job!

I know of Big 4 cutting pay, and no longer paying for overtime, but I'd be quite surprised if you couldnt take time in lieu - thats a major chunk of your study leave. It would cost the firm to cancel time in lieu

clearya

Stabshauptmann wrote: »

I know of Big 4 cutting pay, and no longer paying for overtime, but I'd be quite surprised if you couldnt take time in lieu - thats a major chunk of your study leave. It would cost the firm to cancel time in lieu

I only know for sure that it applies to the trainees starting this year, I'd imagine some people's stress levels will be hitting the roof come exam time.

Running Bing

clearya wrote: »

I only know for sure that it applies to the trainees starting this year, I'd imagine some people's stress levels will be hitting the roof come exam time.

So do you think you only get the minimum amount of exam leave now and cant work off any extra?

Are you sure its not just time in lieu after maximum exam leave has been worked off? The above situation would seem pretty crappy.

Also when people say "no more paid overtime" do they mean that the overtime rate is now just the standard rate or you dont get paid for any work over the standard amount (say 35 hours)?

Stabshauptmann

clearya wrote: »

I only know for sure that it applies to the trainees starting this year, I'd imagine some people's stress levels will be hitting the roof come exam time.

How study leave is going to work for these incoming trainees?

Normally one would be expected to work up a certain amount of overtime to qualify for the full study leave.
Im sitting CAP2 next week, I got 13weeks paid study leave (I think, I honestly cant remember exactly when my last day was), a condition of which was that I worked up 187 hours overtime.

Now, if my employer was to do away with that 187hr requirement, my study leave would effectively cost the firm more (as they wouldn't get the benefit of the OT I work). This would be a bizarre turn of events, certainly not a cost cutting measure.

[edit]Or Id get the kick in the teeth of less time off

Stabshauptmann

Running Bing wrote: »

Also when people say "no more paid overtime" do they mean that the overtime rate is now just the standard rate or you dont get paid for any work over the standard amount (say 35 hours)?

In my firm (Big 4) you previously had the option to cash in overtime (cant remember what it was worth) or take it as time in lieu / additional study leave.

You can no longer cash in the overtime, but may continue to use it towards your study leave and time in lieu

Hanley

Stabshauptmann wrote: »

How study leave is going to work for these incoming trainees?

Normally one would be expected to work up a certain amount of overtime to qualify for the full study leave.
Im sitting CAP2 next week, I got 13weeks paid study leave (I think, I honestly cant remember exactly when my last day was), a condition of which was that I worked up 187 hours overtime.

Now, if my employer was to do away with that 187hr requirement, my study leave would effectively cost the firm more (as they wouldn't get the benefit of the OT I work). This would be a bizarre turn of events, certainly not a cost cutting measure.

[edit]Or Id get the kick in the teeth of less time off

Tbh they're probably just revert back to institute norms. Minimum's 6 weeks afaik. I thought I was doing well with 8 (didn't have to work OT to get it either). 13 weeks woulda been killer.