Disappointed by payrise

LegacyUser

I am a newly qualified accountant (age 28). I worked in accounting when I was 24-25, then travelled a year then did some ridiculously dead-end work so despite a good start my cv is shaky!


I worked for my current employer (X plc) for 2.5 years.

I spent 1.5 years in a generic "office job" for this company in my home town. The starting rate was 21k with 3-4k guaranteed bonus (and I got €4k).

I transferred to a job as trainee accountant in the same company just to get my life on track - but the office is in Dublin. The pay was 25k, but no bonus, a horrible daily commute and €2k for my bus ticket. I was worse off! That was a year ago.

6 months ago they put me up to €28.7k.

I qualified this month and today they told me my new salary is €32k.

Now, I have 5 years college education, paid for my professional exams myself, have 3 years accounting experience and good knowledge of the company's accounting systems not to mention products. I actually have better experience than some of the other newly qualified people because they just sat at the same desk for years producing the same set of reports and little else.

Most of the accountants on my team did their practical experience there got at least €45k when they qualified. However, they took on a few recently qualified accountants in 2008 (during "the boom") at €55k and who now earn about €57k.

It's not a horrible job. I have flexitime so can work 8-4 and be home by 6. They pay 9% into my PRSA and I get a staff rate mortgage.

But I have no quality of life. I'm not the kind of person who works crazy hours to buy **** I don't need. But I had expected that I could buy a car, so when I get off the bus in the evenings I could drive places (saving time and giving me a bit of freedom).. being able to afford nice holidays.. being able to get some dental work done! Maybe get some councilling too. Basically that I wouldn't be scrimping and saving the whole time as I had been for years before.

I can see where my manager is coming from. It's hard to justify an employee going from €21k to €32k in the space of a year. But I just feel so unappreciated. And it doesn't help that we basically know what others are earning (accounting job and some people have access to payroll)

This has been a bit of a rant but can anyone give me some advice?

S23

I hope this is a wind up. Otherwise, grow up and take your head out of your arse.

You think you are hard done by. Honestly get a grip.

You are on 32k a year after 2.5 years. You think this is a bad thing.
You did a whole five years in college on top of the 2.5 years. You think in this economic climate thats bad? There are plenty of people with a lot more experience and qualifcation than you that can't get a job full stop.

So count your blessing. Keep working hard and don't go round thinking you are entitled to more just because some of your contemporaries have spun you a few fairytales about what they earn.

Honestly, at the risk of getting a slap on the wrist here from the Mods, I think this has to be a wind up. The mind truly boggles if you meant half of this stuff

Victor

How much do people in other firms get?

cailinoBAC

Look, I know how you feel. When you do your exams you're promised the sun, the moon and the stars. At least a few years ago you were. I was disappointed when I went travelling and came back to a job that paid the same as my job when I was part qual. But then I realised how lucky I was to have any job and any time I feel like ranting I have to think of that. There were certain things I expected I could afford when I was qualified and I can't and I know people who qualified only a year before me are on much higher salaries. But that's just life. The thing is though, it's still better to have the qualification than not. If I hadn't had the qualification I might not have got anything. As it happens I'm now leaving the country for a much better job. If you asked me this time last year I wouldn't have thought I'd be doing this. But at least I'm doing it out of choice, not necessity. All I can say is, keep your eyes open, there might be something better out there. But at the same time, remember that starting in a new company is a bigger risk now than a few years ago.
And also be careful who you rant to, as you're still in a much better position than a lot of people these days.

cafecolour

Sorry, it's far harder to get raises up to a certain level (after getting hired a lot lower) than to get hired at a certain level. That's just how it works.

You could try and argue wage parity if you know everyone else makes a certain amount, but the best way is to look around for a new job and negotiate a higher rate of pay when you move to that new job (or use the job offer to get the higher wage at your current place).

bigjohnny80

This must be a wind up. I am a qual accountant myself - doesn't matter what I'm on in terms of this thread but I know the market and you must be on an absolute piss take to post something like this. There are plenty of unemployed accountants if you would like to swap.

S23

I was waiting for someone else to say it. But +1 to the post above.

I'm not an accountant so I didn't want to interject with the 'state of the accountacy market' bit. Because its easy to write off someone if they don't work in the field. However, it just so happens that 4 good friends of mine are accountants so I know roughly how each of them are getting on in this climate.

Zaph

I'm lucky enough to work for a company that's doing reasonably well at the moment. We had no salary increases last year, but we didn't have any cuts either. This year there were moderate pay increases which the vast majority of people were very surprised about and happy to receive them. For the very few that thought they should have got more they were given the standard line - "Go out the front door and take a walk down the street. Then come back and tell me how many empty offices you saw". Oddly enough they all stopped complaining after that.

I hired two staff 18 months ago on pretty much the industry standard starting salary. If I was hiring this week they'd be on at least 10% less than they got 18 months ago. The OP needs a reality check tbh. The country's in sh*t and the old rules don't apply any more. What the other guys in the office are on is irrelevant. If you have a job that's a result. If it's paying moderately well or you've received an increase recently, thank your lucky stars.

LegacyUser

OP, i'm not going to say "you're lucky to have a job". Because I have a job too and while Im fortunate to have one, I still earn my wage.

But seriously, 32k! What are you doing that you can't afford a relatively decent lifestyle. By the sounds of things, you don't have a spouse or dependants.
Ok you live in Dublin which is more expensive, but you can house share.

I live in Galway, earn 24k in the financial sector. I have one child whose father isn't involved. I have debt which my ex racked up.
My outgoings are as follows (Income approx 2200 per month - incl FIS and child benefit. Out goings - rent 750, creche 400, loan 300, insurances 60) So myself and my child live on 600ish per month for all our expenses. And we manage fine. It's tight but I even managed a holiday last year to the UK.

Your perspective is a bit skewed imo.

LegacyUser

My God, Im gobsmacked after reading your post. Its hard to believe its not a joke. No-ones plans are going as expected due to THE RECESSION.

OP, get real !! Its 2010 not 2003 !!!

You are actually very well off, relative to many people. Stop whingeing.

SueWho

To those who recommend you just suck it up, ignore them. It doesn't matter if half the country's construction workers and others are unemployed: if you know that you are being paid far below the industry norm in your area of expertise then you should A) look for another job that pays the rate you are really worth or approach your employer with evidence that you are underpaid for your level of qualifications and experience, especially if they are one of these big multi-nationals with an official policy on paying industry norms etc.

Personally I think looking for a new job is the better option. I know a few accountants that have recently moved jobs, they'd be just newly qualified this year. I know (anecdotally) that accountants are being hired in companies around the IFSC in the financial services sector.

LegacyUser

OP I took a drop from €40k to €24k in the space of 12 months due to losing my job and finding a new one, after a horrible period of being unemployed. While I was unemployed I was on the equivalent of €10k per annum.

This is the reality of working in Ireland today so count your blessings. You have a salary you can live on for now and a good PRSA contribution. If you go to your boss complaining about your pay I cant imagine the response you're going to get!

prinz

SueWho wrote: »

To those who recommend you just suck it up, ignore them. It doesn't matter if half the country's construction workers and others are unemployed: if you know that you are being paid far below the industry norm in your area of expertise ...

The OP isn't being paid far below the industry norm for a newly qualified accountant. In fact I would say at present he's on the upper side of average tbh.

What is wrong with 32K? Why on earth are you moaning that you have 'no quality of life' when you work regular hours and have a decent salary? That really rubs me up the wrong way as I spent all of last year working afternoons and evenings for about 23K (also have five years of college and various diplomas and qualifications). You have your evenings free, you have your weekends free, you're making enough to have a nice lifestyle. What are you doing that you can't afford a car, dental work or holidays? On 32K? I know loads of people who can easily manage all of that on much less than you. I understand you're disappointed and feel you should be earning more in your field (I don't agree - you started at 24, took time off and then worked dead end jobs, sounds like you're lucky to earn what you earn), but I'm not getting this 'no quality' of life stuff at all. Sounds like a great life to me.

krankykitty

I suppose it's disappointing for you now that the rules of engagement have changed, things are different to how they were a few short years ago. However, you're not on a terrible salary, and perhaps your issues with your standard of living might be helped if you were to implement a better budgeting system for yourself? I know I probably sound silly advising an accountant to budget, but seriously, some of the accountants I know are dreadful with their own money

Also you're an accountant, so perhaps you might get a few hours work here and there for yourself in the evenings doing someone's books, get a few bob to boost your earnings. Just an idea.

nyarlothothep

If you think you should earn more find some way to do it, don't take the "grateful" attitude if it doesn't sit right with you. Theres nothing wrong with seeking a payrise compared to the elites people are bailing out, with the knock on effect of a tightening of the economy.

Dark Phoenix

You got a pay rise ...in a recession...and your moaning. And worse - expecting sympathy.
I, like many others, got a pay cut this year. I've been in the company seven years but it didn't matter how long your there, what salary your on or how much experience and qualifications you have we all got cuts.

I consider myself lucky - I got a cut many others got a lot worse and my heart goes out to anyone who is struggling at the moment through no fault of their own.

Anti

Only 32k, you poor wee thing.

Be happy that you are on the up in the company you work for. Sit back, do your job and see where it takes you.

Penn

Also, 32k a year and you thought you'd be able to afford a nice car and holidays etc. You can. It's called making a budget. You're an accountant ffs

SueWho

I think people are being far to hard on the op. Do a bit of job hunting and you'll either find that you are on a suitable salary and you can't do any better (take the "suck it up" option) or you'll find there are better paid jobs that you are qualified for so try to get your hands on one of those jobs.

krudler

OP you're obviously not much of an accountant if you cant figure out a way to stretch 32K a year to pay for a few holiday and a car, I'm on a lot less than that and live in a decent house, go on plenty of holidays and weekends away a year and am getting a new(er) car later this summer.

"no quality of life" on 32 grand a year? are you joking? try living on less than 800 quid a month like a lot of people are and then come back and complain

prinz

krudler wrote: »

OP you're obviously not much of an accountant if you cant figure out a way to stretch 32K a year to pay for a few holiday and a car, I'm on a lot less than that and live in a decent house, go on plenty of holidays and weekends away a year and am getting a new(er) car later this summer.

+1. Am also doing all of the above and supporting my wife at the moment on a lot less than €32k as a part-qualified accountant, so I know the OP is well within average range salary-wise of a newly qualified accountant.

fasty

I won't wheel out the "You should be glad you have a job" thing that the begrudgers love to do on boards.ie

OP, you'll have to either discuss it with your employers, put up with it and gain experience, or just look for another job. It's not really that complicated!

McCrack

This thread has to be a piss-take, right?

Do people with the mentality of the OP exist? They probably do I guess.

reprazant

I love the attitude of people here - you have job, you should be lucky, enjoy it, blah, blah.

The fact is that the OP is earning less than people who are doing the exact same job as him. This is plainly unfair.

Your boss told you that to give you more would look bad as it would seem as if you jumped pay scales too quickly in too little a time. This may be true but ask him if the pay difference between yourself and your coworkers will rectified over time or if a different pay scale has been introduced, which, in the current climate, is very possible.

McCrack

32K for a newly qualified with the limited experience the OP has is not below average. That much is fact. Everything else is opinion.

reprazant

McCrack wrote: »

32K for a newly qualified with the limited experience the OP has is not below average. That much is fact. Everything else is opinion.

He has claimed that others who qualified in the same company as him started out on €45k.

If this is true, whether his salary of €32k is or is not below the average for a newly qualified accountant, it is below what others in the same position as him in the same company as him earned when the qualified.

Curry Addict

i see your dielma OP, working side by side with guys earning twice as much doing the same job.
i think u have a sense of entitlement that is now justified by gaining your qualification. but unfortunately the financial markets and job markets are not in sync with your needs.
i would recommend that you write an official letter of dissatisfaction to your superiors, be carefull to make this a very positive and upbeat letter. bide your time and hopefull the situation will be adressed at your next review. If the situation is not adressed then i would resign out of principle.

prinz

reprazant wrote: »

He has claimed that others who qualified in the same company as him started out on €45k. If this is true, whether his salary of €32k is or is not below the average for a newly qualified accountant, it is below what others in the same position as him in the same company as him earned when the qualified.

Salaries rise and fall. Just because someone got that last year or the year before doesn't mean the OP is entitled to it this year.

reprazant

reprazant wrote: »

I love the attitude of people here - you have job, you should be lucky, enjoy it, blah, blah.

The fact is that the OP is earning less than people who are doing the exact same job as him. This is plainly unfair.

Your boss told you that to give you more would look bad as it would seem as if you jumped pay scales too quickly in too little a time. This may be true but ask him if the pay difference between yourself and your coworkers will rectified over time or if a different pay scale has been introduced, which, in the current climate, is very possible.

We can't know all the specifics of why they are earning more, but there are plenty of reasons that could be happening. What gets on my nerves about OP's attitude is that he's behaving like 32K is living on the poverty line. Who on earth can't afford a car and dental work on that salary? He hasn't mentioned having a family to support or any obligations such as supporting a sick family member or paying for a retirement home for someone. I don't see why someone working regular hours on a very decent salary is moaning about having no quality of life.

fasty

You don't know the original poster's full circumstances, rent, savings, outstanding loans etc. 32k isn't really a lot and you wouldn't get much of a mortgage on it or be able to buy much nice things. There's nothing wrong with wanting more money.