Trainee Accountant Salary Help

aka accounts 2010

I've just been offered a traine accountant position with a small accounting frim..I am fully exempt from CAP 1 exams so will be starting with my CAP 2's...the firm will pay all expenses in relation to the exams/courses/materials etc and have offered a starting salary of 11k.

How does this offer sound to ye all?i only finished college last week and this is my first position in the accounting profession!!!

SoulTrader

To be honest, it sounds crap, but trainee accountant salaries are crap anyway. So was mine - €12,700 euro a year when I started in Galway in 2003, with exams and course material paid for. So, your salary is probably a little low even compared to that.

But, even though it's low, I don't think you would get much better, unless you went to industry. In my opinion, when you're deciding whether to accept a trainee position, money just can't be the deciding factor, because the wages are so crap. Make sure you're happy with the company itself, it's location and your future employers.

And best of luck.

Nidot

€12k does seem a bit low alright even when taking the exam fees and materials into account, they're worth about €5k according to most estimates.

What should be the deciding element of the decision though is what sort of complete package is available, i.e.:

-How much study leave are they offering for the exams
-Will they fire you if you fail a setof exams (very important at the moment as the failure rate is around the 50% mark
-Does the salary increase with passingeach set of exams
-What sort of work would you be expected to complete and with what clients
-What is the company policy as regards overtime (like I know none of the big four are paying for overtime at the moment, you just do it)
-And most IMPORTANTLY what sort of crowd are they like to work for

They're the things I'd be thinking about before taking it on or not.

Anyway let us know what decision you make.

maddogcollins

That is low but probably the average for a small/medium practice. When i started mine was €13000 and then fees and that were paid by firm, which as said are worth about €5000 meaning salary was technically €18,000. I know friends who were paid €19,000 but had to pay all material and exams fees themselves. Im on €19,000 (Ish)now and stilll have finals to sit. The CAP1 exemption should be worth a bit more tho to your starting wage as you are saving the firm €5,000 by not having to sit them.

But, as said above take into consideration study leave etc... Try talk to other trainees there.

ascuteasabutton

I work in a small practice and started on €17000 18 months ago as a trainee straight out if college, we get no help towards the cost of professional exams, all we get is unpaid study leave but further study is required if we ever want a payrise, the way it works is that for every set of exams we pass, we get a small pay rise!

The main problem with this is funding study on such a low salary but its good that i'm not tied to this firm because they haven't paid for anything so once I am qualified I can move on to a bigger firm if thats what I want to do.

MagicMarker

Is a trainee a trainee until they've passed all necessary exams? If so, what would their salary rise to once qualified?

Stabshauptmann

big 4 pay starts in the low 20s

Mahony

What would grant thornton pay? im due to start an advisory poisition with them

Dont think the big 4 still pay in the 20s

Stabshauptmann

Mahony wrote: »

What would grant thornton pay? im due to start an advisory poisition with them

Dont think the big 4 still pay in the 20s

The Big 4 used to start in the mid 20s, now I believe its the low 20s.
Grant Thornton being number 5, I'd expect similar money. If you're due to start in September I'd say you'll get a letter this month with all the details

seven-iron

i thought grant thornton were 6 or 7, defo not 5 anyway

Stabshauptmann

Meh.

Top 20 by fee income (2007) here:
http://www.finfacts.com/irelandbusinessnews/publish/article_1011353.shtml


The Big 4 are the bench mark, BDO, GT and Mazars are damn close. They might only have the combined fee income of E&Y, but they are very respected and I *thought* had very similar pay and conditions to the Big 4.

seven-iron

thats pretty old man, credit crunch and recession hadnt even struck by then either

Stabshauptmann

Have you a point? Because you sure as hell have a problem...

The topic is trainee salaries, not firms pecking order. My point is that Grant Thornton are a very big firm and that their pay and conditions, afaik, would be similar to that in the Big 4.

Do you have anything to add to the topic?

[edit] Ah I see, the reason you are making a deal about the Grant Thornton thing is because, in your own words you have a "real elitist view of myself and look down my nose at everybody" because you are in a Big 4. Kudos to you, sir.

Since you are a first year trainee in a Big 4 how about adding a useful comment to the thread, after all you should know what a first year gets paid these days...[/edit]

Mahony

well said Stabshauptmann,

Cheers for your help, I turned down Deloitte and KMPG tax for GT advisory so didn't really care about the company rank more about what I wanted to do. Could have been a mistake but that was my choice anyways,

seven-iron

stabshaurtman,

Im flattered you stayed in on a saturday night to read my post history but I have two points to make. Firstly, the top 6/7 all pay well, better than most. Secondly, I dont look down my nose at anyone anymore. I have grown up ha

BESman

I started on €60K.

Stabshauptmann

seven-iron wrote: »

Im flattered you stayed in on a saturday night ... I dont look down my nose at anyone anymore. I have grown up ha

:rolleyes:

And twas only half eight at that stage, passing time before heading out

Mahony wrote:

I turned down Deloitte and KMPG tax for GT advisory so didn't really care about the company rank more about what I wanted to do.

AFAIK pay may differ between tax and audit in some firms, dont know where advisory fits in. I do know however that GT has one of Irelands largest insolvency practices. If you are in advisory, then you might be doing this type of work - which is some of the best accounting experience you can get imo.

EDudder

I didn't know that there was a difference in pay within firms between audit and tax etc in the big 4.

Would there be a huge difference between Dublin and regional offices? I'd obviously assume it to be lower, but would it be a huge amount lower?

Stabshauptmann

I have heard anecdotal evidence that it is approx 3k in starting salaries between regional (RoI) offices and Dublin

luapenak

aka accounts 2010 wrote: »

I've just been offered a traine accountant position with a small accounting frim..I am fully exempt from CAP 1 exams so will be starting with my CAP 2's...the firm will pay all expenses in relation to the exams/courses/materials etc and have offered a starting salary of 11k.

How does this offer sound to ye all?i only finished college last week and this is my first position in the accounting profession!!!

To be honest, it doesn't sound very good to me.
I started just over two years ago on 20k in a very small firm. It was just as the recession was starting and i got a reduction to 18k.
Ended up leaving and now I'm in a bigger firm and first year intakes are starting in the low 20s.
By the way I had no accountancy experience whatsoever when I started on 20k.

I presume the position is not in Dublin as it would be impossible to live on that sort of money there?

Villa Limerick

I am just starting to look for a trainee position at the moment. What is the best route acca or cima or cai ?

Stabshauptmann

Villa Limerick wrote: »

I am just starting to look for a trainee position at the moment. What is the best route acca or cima or cai ?

Do a quick seach of this forum.
Then if you need to, Start a new thread.

YumYumYum

While we're on these pecking orders and starting in new places etc maybe ye could help me out?; does anyone know about a crowd called HBC (in Limerick esp)? Are they a good crowd to work for and/or do they have a good rep in the industry? I don't know jack so throw the dog a bone here!! THANKS! :cool::)

UpAgainToday

aka accounts 2010 wrote: »

I've just been offered a traine accountant position with a small accounting frim..I am fully exempt from CAP 1 exams so will be starting with my CAP 2's...the firm will pay all expenses in relation to the exams/courses/materials etc and have offered a starting salary of 11k.

How does this offer sound to ye all?i only finished college last week and this is my first position in the accounting profession!!!

11k? WTF some firms are pulling the piss with this whole ''recession and current economic climate'' - the year I worked in accounting I started on €24k and even then with the BS I had to put up with on a daily basis I was like im basically working for peanuts so only you can decide what your willing to put up with...

UpAgainToday

Villa Limerick wrote: »

I am just starting to look for a trainee position at the moment. What is the best route acca or cima or cai ?

Is cai the new term for aca?

UpAgainToday

BESman wrote: »

I started on €60K.

So accountants now start on €60k? That would mean 3 first year accountants would be worth one first year prop trader - unlikely....

UpAgainToday

MagicMarker wrote: »

Is a trainee a trainee until they've passed all necessary exams? If so, what would their salary rise to once qualified?

I think its around €50k once you have passed all exams and finished your training contract

Clanket

UpAgainToday wrote: »

Is cai the new term for aca?

CAI is Chartered accountants ireland.

Think ACA was Associtate Chartered Accountant.

Could be wrong though

Hanley

Alofthedunnes wrote: »

CAI is Chartered accountants ireland.

Think ACA was Associtate Chartered Accountant.

Could be wrong though

CAI is the new name for ICAI.

The ICAI are the Irish affiliate of the ACA.

The qualification gained thru the CAI is ACA.

CRG

I heard a rumour that trainees would start on 19k-ish next year. This would make sense as it is in line with cuts made to starting salaries in the last couple of years

Villa Limerick

if only there were any trainee jobs out there it would be great !

MCannon

€11k is an absolute disgrace to offer anyone even these days. That is simply a scrooge employer taking advantage. I started with no experience in very small firm in October 2007 on €24K. But then again, I guess it's how you sell yourself!!:D

seven-iron

€11k is an absolute disgrace to offer anyone even these days. That is simply a scrooge employer taking advantage. I started with no experience in very small firm in October 2007 on €24K. But then again, I guess it's how you sell yourself!!

or the fact that 2007 was still booming recruitment wise.

and does your employer know you go to boards instead of your manager with queries? => http://www.boards.ie/vbulletin/showthread.php?t=2055939900

your robbing your employer

djk1000

seven-iron wrote: »

or the fact that 2007 was still booming recruitment wise.

and does your employer know you go to boards instead of your manager with queries? => http://www.boards.ie/vbulletin/showthread.php?t=2055939900

your robbing your employer

Not very helpful:rolleyes:

Stabshauptmann

seven-iron wrote: »

or the fact that 2007 was still booming recruitment wise.

and does your employer know you go to boards instead of your manager with queries? => http://www.boards.ie/vbulletin/showthread.php?t=2055939900

your robbing your employer

Did you miss the "Joke" in large, bold, writing?

Manofthewest

UpAgainToday wrote: »

I think its around €50k once you have passed all exams and finished your training contract

I wish that was the case. I have been quailified 2 years and have never got close to that.

11K a year is not very good at all. I started on 14k in 2005 in a small practice in Galway. Where I am working now we are paying a trainee around 18k a year including two exams paid for with paid study leave.

UpAgainToday

Manofthewest wrote: »

I wish that was the case. I have been quailified 2 years and have never got close to that.

Hey, just so you know your getting screwed over

eimearnid

hi all, can anyone tell me why firms paying for exams taken and study etc comes to €5k? Do they tend to pay for taking the courses, what about if you are doing the study yourself? Anyone have any feedback on ROCG ireland as a company to work for? Thanks.

EveT

eimearnid wrote: »

hi all, can anyone tell me why firms paying for exams taken and study etc comes to €5k? Do they tend to pay for taking the courses, what about if you are doing the study yourself? Anyone have any feedback on ROCG ireland as a company to work for? Thanks.

I do ACA, dont know about other fees, CAP 2 exams about 3k, and FAE around 4, that covers your lectures, books, exam fees. Study leave...well cap 2 min 7 weeks off (6 study plus exams), thats gonna come to more than 2k in wages for most....So for ACA anyway Id say 5k is a moderate enough estimate, it could come to more.

eimearnid

Hi EveT - with those benefits re study leave, do you mind me asking what salary you are on? Im trying to get a good idea of what is a fair trainee accountant package. thanks

EveT

eimearnid wrote: »

Hi EveT - with those benefits re study leave, do you mind me asking what salary you are on? Im trying to get a good idea of what is a fair trainee accountant package. thanks

well im doing CAP 2 but doing it through the 'school leaver route', am on 30k, but thats quite high for a trainee. I started on 20 nearly 3 years ago.

I think starting cap 1 on about 21-23, with exams etc paid and study leave would be fine, but im sure others will tell you more, I know some people started on a lot less, 16-17k.