trainee accountant contract issues

mysteries12

Hi Everyone,

I am a final year accounting student. I attended an interview in Cork few weeks ago and was offered a training contract for 3.5 years. There is a probation period for a year within the 3.5 year and it excludes time off for holiday,sick leave,exam leave,study leave etc. Salary is €15,000. The firm pays for my exams and course.There will be an increment according to the number of exams I pass but the contract hasn't specified the minimum amount of increment. Is that normal? I have exemptions from Cap1 so will be starting with Cap2. annual leave = 20days. The contract is due to start in June. How does this sound? This is my first training contract and I don't really know much about it. Any thoughts!

Alan Shore

Might be worth checking out the increments and clarifying if the 15k takes account of the fact that you are exempt from CAP 1. Is 15k a little low for living in Cork?

mysteries12

Alan Shore wrote: »

Might be worth checking out the increments and clarifying if the 15k takes account of the fact that you are exempt from CAP 1. Is 15k a little low for living in Cork?

They are aware that I'm fully exempt from Cap 1 but ya I was thinking about the salary being low too. I'm going to give them a ring tomorrow to ask about the increments. I said to them that 15k is quite low but they totally ignored it. Do u know if 1 year probation is too long? Wat is the norm?

Morte

Legally you have very little protection as an employee until 1 year has passed anyway so I doubt the probation period makes much difference.

I don't know if €15k is the going rate. It sounds very tough to live on if you're not living at home. I think most contracts don't specify the increments, I know mine didn't and it was in a big firm. They like to cover themselves so that they don't commit to a high level in case the market collapses in the meantime (as it just did in fact). There is a danger that some small firms only give minimal increments. The ICAI recommends minimum increments but I don't think they're mandatory.

Trend Setter in Training

mysteries12 wrote: »

Hi Everyone,

I am a final year accounting student. I attended an interview in Cork few weeks ago and was offered a training contract for 3.5 years. There is a probation period for a year within the 3.5 year and it excludes time off for holiday,sick leave,exam leave,study leave etc. Salary is €15,000. The firm pays for my exams and course.There will be an increment according to the number of exams I pass but the contract hasn't specified the minimum amount of increment. Is that normal? I have exemptions from Cap1 so will be starting with Cap2. annual leave = 20days. The contract is due to start in June. How does this sound? This is my first training contract and I don't really know much about it. Any thoughts!

I started in Cork nearly four years ago now on 17k, mid sized firm. Pretty much all the same as you have listed.

I know the few blow me started on less too so would guess it is fairly accurate atm.

I had tax to do from CAP 1 so did modular on CAP 2 so got an increment on passing each part and then again for FAEs and bonus for passing all exams first time.

I lived out of home the whole time, was very tough the first year or two!

Hope that helps.

mysteries12

Thank you all for ur advice and suggestions. I think I will accept this one and will keep looking for better jobs mostly in Dublin. Will see wat happens!

mark_m360

mysteries12 wrote: »

Thank you all for ur advice and suggestions. I think I will accept this one and will keep looking for better jobs mostly in Dublin. Will see wat happens!

The starting salaries in Dublin are a little bit better but not by any big stretch. From myself and colleagues, it seems to be between 17-20k, and then increments as per chartered accountants recommendations. That is in general, there are of course some exceptions.