Salaries for new jobs

Rory1

What is the going salary in dublin these days for qualifed accountants? Say:

1. Newly Qualified
2. Qualified +2 years PQE
3. Qualified 3-5 years PQE

Shane732

Rory1 wrote: »

What is the going salary in dublin these days for qualifed accountants? Say:

1. Newly Qualified
2. Qualified +2 years PQE
3. Qualified 3-5 years PQE

Very hard to say really it totally depends on your ability to negotiate these days. Big four salaries have dropped by a good bit.

Newly Qualified I suppose would be lucky to be getting €40,000 - 45,000. Having said that I know a newly qualified earning €28,500!

Qualified +2 years - I'd say €55k tops
Qualified 3-5 years - I'd say €65k tops

It totally depends on how quickly you move up through the ranks though. If you just kind of end up in no mans land after qualifying it's unlikely you'll see anything more than €45K.

Better money it tax - plus it's not quite as mundane as accountancy (ticking boxes!)

Would the AITI qualification be enough to get into tax consultancy or would ACCA etc. be required also?

Rory1

Shane732 wrote: »

Very hard to say really it totally depends on your ability to negotiate these days. Big four salaries have dropped by a good bit.

Newly Qualified I suppose would be lucky to be getting €40,000 - 45,000. Having said that I know a newly qualified earning €28,500!

Qualified +2 years - I'd say €55k tops
Qualified 3-5 years - I'd say €65k tops

It totally depends on how quickly you move up through the ranks though. If you just kind of end up in no mans land after qualifying it's unlikely you'll see anything more than €45K.

Better money it tax - plus it's not quite as mundane as accountancy (ticking boxes!)

Not on €28.5k in dublin?

Shane732

Deleted User wrote: »

Would the AITI qualification be enough to get into tax consultancy or would ACCA etc. be required also?

AITI would certainly be enough... AITI is the tax qualification after all

A lot of people say that once you do accountancy it's difficult to get your head completely around tax and thus hard to achieve success!

Shane732

Rory1 wrote: »

Not on €28.5k in dublin?

Yup in Dublin - In a top 20 firm - (Probably top 10 in the good times)..... It's interesting times we're in.

Don't forget that most firms want to get rid of you once you've finished your training contract or got your qualification - unless you've made a lasting impression and proven yourself to be something special.

In these times we're in it's more difficult to move on thus firms keep newly qualified people on lower salaries to try and push them along their way. The employers point of view is why should I pay you €50K when I can get a trainee to do it for half the price. Experience doesn't mean a whole lot to the employer - it's the bottom line that matters.

Naturally big 4 is a different thing but then it's a completely different whole in general. Having said that business is slow in the big 4 these days unfortunately consultancy has died a death and that's were the big money was.

fontanalis

Shane732 wrote: »

AITI would certainly be enough... AITI is the tax qualification after all

A lot of people say that once you do accountancy it's difficult to get your head completely around tax and thus hard to achieve success!

Tax is a head bender and I'd say it's the type of thing you need to start in an entry type position and build your way up.

viconia

I know 2 people in Big 4 qualified's out of contract getting 30k in Dublin

Rory1

Very depressing, all those years and not earning more than 30k.

Shane732

fontanalis wrote: »

Tax is a head bender and I'd say it's the type of thing you need to start in an entry type position and build your way up.

I tend to agree with you. That's not to say that there are excellent tax consultants out there who got their ACA first.

ray mysterio

Rory1 wrote: »

Very depressing, all those years and not earning more than 30k.

Any uni student take note, its not 'all worth it in the end'

ray mysterio

ray mysterio wrote: »

Any uni student take note, its not 'all worth it in the end'

well somebody with a professional qualification on 30k is pretty rubbish but it's probably better than no job at all which is the case for a lot of people. the upturn will come and it's just a case of having the cop-on to move to a better-paying job when that situation arises...

Shane732

Shane732 wrote: »

AITI would certainly be enough... AITI is the tax qualification after all

A lot of people say that once you do accountancy it's difficult to get your head completely around tax and thus hard to achieve success!

fontanalis wrote: »

Tax is a head bender and I'd say it's the type of thing you need to start in an entry type position and build your way up.

Shane732 wrote: »

I tend to agree with you. That's not to say that there are excellent tax consultants out there who got their ACA first.

I'm currently working as a Fund Accountant and am wondering what exams I should sit... The idea of tax is appealing as I don't particularly want to work as a regular accountant.

If I did my Tax exams, along with my Commerce Degree, would I be set to get an entry level tax consultancy job?

Nidot

Potentially yes but you have to realise that consultancy jobs are usually based on experience rather than qualifications. It would be necessary for you to gain this working in a tax consultancy role in a recognised firm, and this usually entails a drop in money and such, which can be a hard swallow for some.

I really don't know what to do at all.. My manager wants me to start the ACCA or similar but I'm not too keen. I've only one excemption because I concentrated on Economics in college.

I guess I'd be sitting my 3 years of AITI and at some point during that, find a job in that area? Maybe in one of the big 4? My other option in the QFA.. or CFA if I'm feeling brave.

What sort of money would I be on to get a start in tax? 15-20k, 20-25k, 25-30k?

Nidot

The ACCA would probably be the route pursued by someone working in the financial services sector. The exams can be spaced out quite nicely and there are 2 sittings every year for the exams. Alot of people doing the ACCA's would have very few exemptions, this makes the exams progressive in that you move from one set of exams to another as your knowledge increases.

Sitting the AITI would be an option alright, the only thing you'd have to worry about is the fact that experience is a prerequisite before you can call yourself AITI qualified so the job with a firm would be required. I'm not sure of the amount of experience required, I think its two years but I'm not sure, maybe someone else could clarrify this option.

The QFA exams are usually pursued by people working in the banking sector. I'm not too familiar with them only that they focus mainly on banking and don't have as much accounting or tax modules as the others. This would be something to think about if you're thinking of broadening your horizons in different positions in the future.

The CFA exams, well all I know about them is that they are unbelievably difficult to get. Only one friend of mine ever tried them and he failed the first set, and he alredy was a ACA qualified.

Starting money in tax is fairly low, in the Big 4 you're talking of starting on 22kish at the moment. I think alot of the Big4 have pay freezes in place at the moment, and that 1 or 2 of them have recruitment freezes in place for tax aswell. This is all of course due to the recessiona as alot of tax consultancy is transaction based and there has been the obvious drop in number of transactions taking place in the economy as of late.

Basically its a decision only you can make.

From my point of view now is the best possible time to gain one of the above qualifications as once the recession ends, and yes it will end someday, you'll then be in a prime position to take advantage in any upswing in demand for skilled employees.

Remember though that the AITI qualification is not as internationally recocgnised as the ACCA, CFA or QFA. This is due to it focusing on Irish tax system, but you could retrain in a foreign country proabably without much trouble.

Nidot

Nidot wrote: »

Remember though that the AITI qualification is not as internationally recocgnised as the ACCA, CFA or QFA. This is due to it focusing on Irish tax system, but you could retrain in a foreign country proabably without much trouble.

QFA is a specifically Irish qualification I think.

All QFAs undertake to participate in a Continuous Professional Development programme, to ensure that they keep abreast of all the latest developments in their industry. The CPD programme is now fully up and running.

All QFAs will be members of The Institute of Bankers in Ireland and/or LIA and The Insurance Institute of Ireland.