Help!!! Newly qualified accountant contract - what to ask for!!

missmoon99

Hi,

I will be qualified as an accountant (ACA) in the next month.... I have been asked to stay on in my firm. I dont know what I should be asking for in my contract!!! Its a small firm, I am currently on €29k. I have been there for the past 3 and a half years.... What salary should I be asking for? Should I be payings my own CPD and registration fees? etc.... I really need help!!!! Its in Dublin and the practice seems to be going ok....

KingEnda

missmoon99 wrote: »

Hi,

I will be qualified as an accountant (ACA) in the next month.... I have been asked to stay on in my firm. I dont know what I should be asking for in my contract!!! Its a small firm, I am currently on €29k. I have been there for the past 3 and a half years.... What salary should I be asking for? Should I be payings my own CPD and registration fees? etc.... I really need help!!!! Its in Dublin and the practice seems to be going ok....

You should be getting more than €29K if you are ACA qualified and all CPD and registration should be paid by your employer

ssbob

missmoon99 wrote: »

Hi,

I will be qualified as an accountant (ACA) in the next month.... I have been asked to stay on in my firm. I dont know what I should be asking for in my contract!!! Its a small firm, I am currently on €29k. I have been there for the past 3 and a half years.... What salary should I be asking for? Should I be payings my own CPD and registration fees? etc.... I really need help!!!! Its in Dublin and the practice seems to be going ok....

Ask them to make you an offer because you don't want to be asking for €35k if they were thinking €40k.

Also say how you value your position and can see yourself becoming a partner possibly? Ask them to be fair to you and you will equally be fair to them.

All CPD and membership fees should be paid for by them.

Theboinkmaster

missmoon99 wrote: »

Hi,

I will be qualified as an accountant (ACA) in the next month.... I have been asked to stay on in my firm. I dont know what I should be asking for in my contract!!! Its a small firm, I am currently on €29k. I have been there for the past 3 and a half years.... What salary should I be asking for? Should I be payings my own CPD and registration fees? etc.... I really need help!!!! Its in Dublin and the practice seems to be going ok....

I think (open to correction on this one) that the market rate of a newly qualified ACA in Dublin is about €45k.

bigjohnny80

I think even less than 45 really unless you've v good experience related to the job

EveT

missmoon99 wrote: »

Hi,

I will be qualified as an accountant (ACA) in the next month.... I have been asked to stay on in my firm. I dont know what I should be asking for in my contract!!! Its a small firm, I am currently on €29k. I have been there for the past 3 and a half years.... What salary should I be asking for? Should I be payings my own CPD and registration fees? etc.... I really need help!!!! Its in Dublin and the practice seems to be going ok....

did 29 have FAE fees on top of that and how much study leave? Id add the course fees on to the 29, and the wages paid for study leave and go from there, thats going to be at least another 8ish k which brings it to 37, Id prob be asking for 45 if I was you and happy enough if I got 40

PhiliousPhogg

-Firstly I agree with ssob, they should pay your reg & CPD fees if they have any decency but it comes down to the overall package.

-I haven't a clue about salary rates but have a look at the job sites for going rates, and take a look at recruitment agencies' salary surveys - though I am skeptical of those agencies and believe they have every incentive to inflate the rates in their surveys.

-Ask yourself do they need you? What is the skill level of the work you do? Can you step up to manager level, or offer more specialist/quality work to justify the higher rate? Now that you're qualified you are worth a good dela more, but put yourself in their position, can they rotate the audit work through the trainees below you and let you go? Depends on the mix of services the practice is involved in. Does the firm largely do straight audit only or wider business like tax, due diligence, liquidation, if so are the people currently in those roles overworked, any opportunities there? Can you step up to a real customer facing role where you are justifying and selling the services of the firm, not just carrying out the tasks.

-What is your personal relationship with the partners? Can you level with them and imply - not say - you honestly want job stability and can accept lower level salary for the sake of being a trusted part of the team with future prospects - it's an option but obviously they can take advantage, use your own judgement, you need a level of trust. On the contrary if you can play up all your strengths and shoot the cr@p about your commitment to the firm & future career you might bleed more cash out of them.

-Lastly if you ask for too much they are far more likely to bargain you down than dismiss you for asking for too much. Use your diplomacy skills and don't be afraid of hostility, best of luck

kennyb3

bigjohnny80 wrote: »

I think even less than 45 really unless you've v good experience related to the job

I agree 45k is more big 4. Small to medium will be a good bit below this. For a small firm you are looking at 35-37k IMO, again depending on how small and other factors...

And big +1 to PP post. Its not just a case of your qualified you get paid X amount. Its how much your worth to them, what you add, how bright a prospect you are and if they see you there in 5-10 years time.

missmoon99

Hi everyone,

thanks for all your help with my question.

Got €35k in the end, with CPD, Subs and yearly bonus. Sorry it took me so long to reply to ye all. I really appreciate the help.

BTW, APPARENTLY, according to 2 recruitment people, to going rate is €45k plus everything else on top of that. thats what they said they are getting newly qualified people, to be honest its not true coz spoke to a few other people in my position and none of them got anythign near that as newly qualified, unless u came from Big 4 or going to Big company.

Thanks again!! x

dmaprelude

Salaries have taken a big hit over the last few years, there was a time when you were pretty much guaranteed €55k on qualification

Sunny13

Hi all,

I just came across this post and wondering can anyone help. I'm a recently qualified accountant in the west of Ireland working in practice in a medium sized firm - any idea on salary expectations for when my contract finishes.
Thanks

mgsrocks

Sunny13 wrote: »

Hi all,

I just came across this post and wondering can anyone help. I'm a recently qualified accountant in the west of Ireland working in practice in a medium sized firm - any idea on salary expectations for when my contract finishes.
Thanks

Morgan McKinley did a good article on this after the FAE results came out last November:

http://www.morganmckinley.ie/article/recently-qualified-aca-what-salary-should-i-expect

Sunny13

Thanks for that