Graduate trainee in Transaction Advisory Services for E&Y, what salary to expect?

royclark24

Hello all,

I've just made it to the final round interview at Ernst & Young for a position as a Graduate Trainee in Transaction Advisory Services and Consulting. What kind of salary can I expect here in Dublin? I heard salaries can be pretty low here starting out. I am from the United States and at my previous job in supply chain and logistics I was making about $45,000/yr = €30,231. Please tell me a position in advisory and consulting will net me close to this figure in Euros and could someone tell me if they hand out bonuses to trainee's?

It's already almost twice as expensive to live in Dublin than it is in Southern California, I'm not sure if I could take too much of a pay cut trying to survive out here in Ireland while still having to pay off my American college loans.

NickDrake

royclark24 wrote: »

Hello all,

I've just made it to the final round interview at Ernst & Young for a position as a Graduate Trainee in Transaction Advisory Services and Consulting. What kind of salary can I expect here in Dublin? I heard salaries can be pretty low here starting out. I am from the United States and at my previous job in supply chain and logistics I was making about $45,000/yr = €30,231. Please tell me a position in advisory and consulting will net me close to this figure in Euros and could someone tell me if they hand out bonuses to trainee's?

It's already almost twice as expensive to live in Dublin than it is in Southern California, I'm not sure if I could take too much of a pay cut trying to survive out here in Ireland while still having to pay off my American college loans.

It is very interesting that you have gotten this far. I applied for the above graduate postion. I have two degrees. One in Economics and Finance and one in Law. I was rejected after 40mins of applying.

A friend of mine with similar qualifications and similar finance experience was rejected in a day.

We were both ideally suited. No offence but why are so few jobs out there for Irish gradates, why are they being offered to Americans who have to obtain a visa and who have a qualification not in finance. I am not try to have a go at you here. Just wondering what people think of E & Y policy?

mrmanire

royclark24 wrote: »

Hello all,

I've just made it to the final round interview at Ernst & Young for a position as a Graduate Trainee in Transaction Advisory Services and Consulting. What kind of salary can I expect here in Dublin? I heard salaries can be pretty low here starting out. I am from the United States and at my previous job in supply chain and logistics I was making about $45,000/yr = €30,231. Please tell me a position in advisory and consulting will net me close to this figure in Euros and could someone tell me if they hand out bonuses to trainee's?

It's already almost twice as expensive to live in Dublin than it is in Southern California, I'm not sure if I could take too much of a pay cut trying to survive out here in Ireland while still having to pay off my American college loans.

To be honest, you are going to be earning nowhere near your US salary in the first year. It's going to be a good bit less the €25,000. It will go up though after the first year. Your previous job or experience will have no bearing on salary and neither will dept you start work in even though I think tax trainees get an extra grand. No bonuses for trainees either.

Sorry bud but you'll be slumming it. You'll probably find about a third of your salary goes on alcohol too.

-Fellow Big 4 Trainee, Dublin

royclark24

Damn, I guess I'll have to hope I get into the final round with the investment bank in London then. I can't live on such a small salary in Dublin. It's just too damn expensive to live here. I don't know how you guys deal with it when in the UK it's less expensive and they get paid more.

It's unfortunate for all of you to have to deal with such low wages. Well, I'll go make a good impression anyway and get the job and decide later.

mrmanire

royclark24 wrote: »

Damn, I guess I'll have to hope I get into the final round with the investment bank in London then. I can't live on such a small salary in Dublin. It's just too damn expensive to live here. I don't know how you guys deal with it when in the UK it's less expensive and they get paid more.

It's unfortunate for all of you to have to deal with such low wages. Well, I'll go make a good impression anyway and get the job and decide later.

Ah to be honest; most Irish who start work are only on the terrible salary for the first year and most don't have the massive college loans due to free education here. It's actually quiet possible to live on that salary if only for a year and the cost of living has come down recently. To be honest; the main expense is beer and Americans can't drink as much and thus don't spend as much as Irish.

royclark24

Haha, I see what you mean. I suppose that is why salaries are so much lower here in comparison to other developed countries. Since your education is free you don't have loans and the companies have a much larger talent pool to pull from. Whereas in the States the talent pool is large but much smaller due to the cost of going to school. Also, we don't pursue Masters degrees unless we expect to earn higher salaries afterward, unlike here where it almost seems like it's similar to a Bachelors.

I suppose it's possible to just barely get by as long as I find a small cheap room to rent and only shop in the Tesco Value section while free loading off of my friends for alcohol

tlev

https://www.youtube.com/watch?v=brj2UkUPjCI

royclark24

NickDrake wrote: »

It is very interesting that you have gotten this far. I applied for the above graduate postion. I have two degrees. One in Economics and Finance and one in Law. I was rejected after 40mins of applying.

A friend of mine with similar qualifications and similar finance experience was rejected in a day.

We were both ideally suited. No offence but why are so few jobs out there for Irish gradates, why are they being offered to Americans who have to obtain a visa and who have a qualification not in finance. I am not try to have a go at you here. Just wondering what people think of E & Y policy?

Btw, the reason I'm in Ireland is that I'm doing a Masters in Finance at Smurfit bro. In addition, I have a degree in International Business and Economics along with over two years experience studying and working in Hong Kong and Shanghai. I can also speak Mandarin at a relatively proficient level.

But I hear you on your concerns, it seems that you and your friend are both very well qualified. Did you apply before the deadline on time? I've never heard of anyone being rejected within 40 minutes of applying at the Big Four, especially since they don't look at your application until after the posted deadline.

NickDrake

royclark24 wrote: »

Btw, the reason I'm in Ireland is that I'm doing a Masters in Finance at Smurfit bro.

Respect man. Its a great Masters. And well done on getting the interview. Not meaning to sound racist here.

What I was getting at though is E & Y's policy on Irish graduates? Do they feel they are not good enough?

royclark24

That's a good question. To that I have no answer. I don't know what they look for or how they look for "it," whatever that may be. All companies are weird like that though. I had a friend who ended up working for JP Morgan with less than a 2:2 degree (2.7/4.0 in US terms) but for some reason they hired him. I also had another friend who got into tax at KPMG in America despite failing Calculus 3 times.

NickDrake

royclark24 wrote: »

That's a good question. To that I have no answer. I don't know what they look for or how they look for "it," whatever that may be. All companies are weird like that though. I had a friend who ended up working for JP Morgan with less than a 2:2 degree (2.7/4.0 in US terms) but for some reason they hired him. I also had another friend who got into tax at KPMG in America despite failing Calculus 3 times.

Were these the Irish offices? Best of luck with the interview.

royclark24

Nah, they were in the US in California, but in the US sometimes who you know is better than what skill you have.

rainbow kirby

royclark24 wrote: »

but in the US sometimes who you know is better than what skill you have.

And the vast majority of the time, it seems to work the same way in Ireland!

watna

royclark24 wrote: »

Haha, I see what you mean. I suppose that is why salaries are so much lower here in comparison to other developed countries

Ha - if you think salaries are low in Dublin never ever consider moving to New Zealand!