ACA Trainee Offer (Accounting)

OrangeOranges

A little bit of help pls.

I've recently started a trainee ACA position in Galway.
I never really checked the contract at the time. I was out of the country and got someone else to sign it for me. There was no other choice. I presumed they could read at the time but the details are a little different.

My current working conditions are :

The pay is €12k per annum
I also have to pay my own registration fee to the chartered institute, exam fees, study material etc.

Does this sound right to any other aca's out there?
Let me know asap!!!

murray sparkle

I have come across this a number of times from friends who are accountants and solicitors. Basically training contracts are licences to treat individuals like dirt and pay them very little. The approach that most firms take is that 'well you'll be earning 100K in five years and you'll thanks us then'. A friend of mine got offered a job at a practice in Limerick and they made a fuss of telling her that she was getting 18 K and not to tell any of the others there as there would be a fuss.

So in short - yes- you've been screwed, welcome to the world of accountancy.

Kinetic^

OrangeOranges wrote:

A little bit of help pls.

I've recently started a trainee ACA position in Galway.
I never really checked the contract at the time. I was out of the country and got someone else to sign it for me. There was no other choice. I presumed they could read at the time but the details are a little different.

My current working conditions are :

The pay is €12k per annum
I also have to pay my own registration fee to the chartered institute, exam fees, study material etc.

Does this sound right to any other aca's out there?
Let me know asap!!!

I'm doing ACA and yes i'm also being screwed, just not as bad as you.

I don't have to pay the fees or any of the institute fees so its ok from my perspective. Most of the companies here in Dublin pay everything for you, if you're in the Top 20 that is.

OrangeOranges

How much does registration to the institute and exam fees cost?
any links or info welcome

Kinetic^

OrangeOranges wrote:

How much does registration to the institute and exam fees cost?
any links or info welcome

Dunno exactly how much it costs and i can't find it on the website.
You'll get a letter through work with the costs.
From what i can remember you're looking at about 1500 - 2000 all in.

OrangeOranges

from what you remember is that just 1st year or is that for all exams registration etc for the 3 years.

If it is it's not too bad. If I have to pay 2k per year for 3.5 years!! Gonna be a bit tight !!

I cant find any information on the website about costs only that I already owe a 100euro for late registration!!!

Kinetic^

OrangeOranges wrote:

from what you remember is that just 1st year or is that for all exams registration etc for the 3 years.

If it is it's not too bad. If I have to pay 2k per year for 3.5 years!! Gonna be a bit tight !!

I cant find any information on the website about costs only that I already owe a 100euro for late registration!!!

Its about 500-700 for initial joining fee, then you're got annual exam fees.

Its not 2.5k per year anyway.

What exams are you starting at??

OrangeOranges

at the beginning.
Im not sure what exemptions im entitiled to yet

I need to check it out today.

Kinetic^

OrangeOranges wrote:

at the beginning.
Im not sure what exemptions im entitiled to yet

I need to check it out today.

Thats were i started too.

One piece of advice is to read the management accounting book at least once. There's about 1100 pages in 26 chapters. Scary isnt it. Most of the content contained in the last 5-7 chapters is advanced so you don't need to read that. Its easier than you think, just read a chapter at a time. The only reason I'm saying this is because there is so much on the damn course.

0utshined

OrangeOranges wrote:

I never really checked the contract at the time. I was out of the country and got someone else to sign it for me.

Hang on,

You never signed the contract? How long have you been working there?

OrangeOranges

signing = not an issue

mgmt book = will do.

OrangeOranges

So it comes down to :

Am I being over-screwed here or what. I mean its impossible to live on that wage away from home enough without having to fork out a mystery sum which is impossible to track down from the institute of money.

Are these standard crappy wages for 1st year ACA's or are they more crappier than is fair?

Kinetic^

OrangeOranges wrote:

So it comes down to :

Am I being over-screwed here or what. I mean its impossible to live on that wage away from home enough without having to fork out a mystery sum which is impossible to track down from the institute of money.

Are these standard crappy wages for 1st year ACA's or are they more crappier than is fair?

They're below average for trainee, pretty much sh!t THB.

IMO, you're being over screwed here.

Talk to your manager/partner or whoever in your firm about the deal.

Surely it wouldve been discussed at an interview stage??

OrangeOranges

Ok ..... I've reread the contract.

I knew the salary but didnt I would be caught for paying for stuff. That was not mentioned.

I dont mind so much .I just gotta pay enrolement, course books, exemptions, late fees etc.

My firm will pay course fees.

Its gonna cost me a 1500 up front but thats it all

Kinetic^

OrangeOranges wrote:

Ok ..... I've reread the contract.

I knew the salary but didnt I would be caught for paying for stuff. That was not mentioned.

I dont mind so much .I just gotta pay enrolement, course books, exemptions, late fees etc.

My firm will pay course fees.

Its gonna cost me a 1500 up front but thats it all

Well then you're alright, look at it as an investment in your future that will have massive returns.

Did you get your exemptions?

OLDYELLAR

ACCA here and Im getting screwed too ,.wasnt sure what I was meant to pay at the time of signing the contract turns out I get me salary an thats it , gotta pay registration , exam courses , exam fees and exemption fees and all that meself but as said above its an investment , just means living like a pauper for a few years.

LoneGunM@n

I remember when I started training in a Chartered Practice ... I was getting IR£3,650.00 per year, but at least I had my fees for the CPA & College covered!!

It's very hard at the start [I had to work in McDonald's part-time so as to have a life], but it's worth it in the end.

Best of luck