Trainee Accountant Salary

prettyrestless

I've been offered a job in an accounting firm as a trainee chartered accountant - based in the south of the country, small-medium sized practice. I have full CAP1 exemptions and the starting salary is €14k per annum based on a 39 hour week.

I'm really only familiar with Big 4 salaries, as I became familiar with them throughout college. Although I wasn't expecting close to Big 4, €14k still seems very low to me.

So is it low? Or is it about right?

leonidas83

prettyrestless wrote: »

I've been offered a job in an accounting firm as a trainee chartered accountant - based in the south of the country, small-medium sized practice. I have full CAP1 exemptions and the starting salary is €14k per annum based on a 39 hour week.

I'm really only familiar with Big 4 salaries, as I became familiar with them throughout college. Although I wasn't expecting close to Big 4, €14k still seems very low to me.

So is it low? Or is it about right?

Yes it is very low but I know people who have started on lower salaries than this outside of the big 4, even more so outside of Dublin. Unfortunately its an employers market especially when you have little to no experience.

él statutorio

It's low but not unexpected. What's the scope for pay rises after each set of exams passed?

hjr

I presume on top of the €14K, the firm are paying your exam fees, books and materials, study leave, etc. As leonidas83 said, its low, but adding everything else in, its about right for a practice outside the major cities.

prettyrestless

Pay rises are €250-500 every six months. No pay for overtime (not that I really expected it). Doesn't seem that great really or am I being petulant?

prettyrestless

hjr wrote: »

its about right for a practice outside the major cities.

Its a city centre position.

hjr

prettyrestless wrote: »

Its a city centre position.

Sorry meant Dublin city. As I said, when everything else is added in, the package your on probably comes to close to €20K I'm sure, and as leonidas83 mentioned for someone with no experience in Practice.
Don't get me wrong I'm not saying its good, I went the same route not that many years ago, and started on 11K. Def a struggle but you hope the effort will pay off. Plus I presume it has Salary increments mentioned for passing your exams at each stage.

prettyrestless

So thats a pretty standard salary once you go outside Dublin? May have to move to Dublin so....

hjr

prettyrestless wrote: »

So thats a pretty standard salary once you go outside Dublin? May have to move to Dublin so....

Sure, but presumably you would have increased living costs, etc if you moved to Dublin.

As mentioned its an employers market out there at the moment, so they can offer a salary knowing there's gonna be someone to take it.

él statutorio

prettyrestless wrote: »

So thats a pretty standard salary once you go outside Dublin? May have to move to Dublin so....

Don't be too hasty, my missus started as a trainee 4ish years ago in a small firm in Dublin City center on €16K, on top of that she had living expenses at Dublin prices.

She's qualified now though thanks be to god, maybe i can retire someday soon!

prettyrestless

hjr wrote: »

As mentioned its an employers market out there at the moment, so they can offer a salary knowing there's gonna be someone to take it.

Thats very true. Whats kicking me in the ass at the moment is that I earn more in my current job in retail for less hours. Still, its more important to focus on the long term right?

hjr

Generally thats the logic. I know when I was doing it, I worked the 39 hour week, and then worked parttime in another job for about 20 hours per week to make ends meet. Maybe you could keep reduced hours in your current job, maybe a Saturday shift?

prettyrestless

Maybe I could hang onto my retail job in the mean time.

If I start in January, but will have to wait to enroll in the 2013/2014 ACA CAP2 course, which I believe will start in autumn, then will the time spent working until then count towards my 3.5 years experience?

hjr

I couldn't say for sure, as the rules may have changed since my time, but I don't believe so. I think your experience must be after your contract period starts, which is with the Institute and doesn't normally apply until closer to the time the course start. Best bet would be to ring the institute and confirm how that would work, at least then you'll know for sure.

prettyrestless

Will do. Thanks everyone for your help

kennyb3

OP you have to remember your probably not working for anywhere from 4/6 weeks a year due to study leave - so your getting paid for 10.5/11 months work not 12. Then as others have said add in all the extras.

I've been through it and the first couple of years are tough but it's worth it when you get qualified imho.

UL12

Hiya,

I started training in a small firm in Limerick city this year on 15k per annum with full CAP1 exemptions and that is pretty standard down here as friends in bigger firms are receiving the same (not sure exactly what city you are situated in though).

Unless things change next year your official training contract usually kicks in on 1 November so it would take until April 2017 for you to finish your contract (pending exam results).

Some firms office time off in lieu for any overtime worked which can be used for additional study leave so you may be able get that too.