Trainee Salary

burg
burg Moderator, FMAAT, AAT Licensed Accountant Posts: 1,441
We are going though quite a lot of change currently which should all be sorted in the near future.

We believe we will then have a vacancy for an AAT studier. However, we have found someone now but don't formally want to start it as a full training contract yet until we know what our future holds.

Therefore we want to employ them now but with no formal training but obviously practical training from us.

What would be the current expectations for a student in terms of salary?

To help this person is 17/18 and has no experience we just know she appears to have the right rive and ambition.

Thanks
Regards,

Burg

Comments

  • liveprincess
    liveprincess Registered Posts: 214 ? ? ?
    If it was me I'd want to start at c. 13k (if it is full time job) with pay review in 3 months if I'm doing well and making progress..
  • Primble
    Primble Registered Posts: 734
    When I started in that position I was on £10500 as it was straight from 6th form. However, my company did not offer a training contract. I done that myself. I did get payrises each year once I had shown what I could do. 6 years later, I am witht the same company, have qualified AAT and now on a secondment to the FC gaining great experience.
  • Amy Smith
    Amy Smith Registered Posts: 54 ? ? ?
    I started with a Training contract straight from sixth form last year on 19.5k... I didn't realise until reading this that this was actually pretty good!

    After having a little browse, it seems the minimum wage for an inexperienced Apprentice is £2.65 ph.
    For someone so young without any outgoings, a small salary will go a long way

    I would suggest £low-teens and then this could be revised every year as she passes exams etc.
    Here to help
    ~AAT Qualified~
  • stevo5678
    stevo5678 Registered Posts: 325
    There are jobs at large insurance companies only paying around £11k for twenty + year olds so I think it depends on your stance. If you pay too low they may look elsewhere after a few months too high and you could be wasting money.

    I would consider a review after 3 months, then a normal yearly raise. So could start on £10,000 and then £12,000 after 3 months, £13,000 after 12 months, £14500 after 24 etc. I imagine an AAT qual with experience wants around £17k+ plus so you could work your way slowly to this.
  • Fingersan
    Fingersan Registered Posts: 84 ? ? ?
    I would probably offer a 17/18 year old £13.5k to £14k with a review after 3 months.
  • paulstafford
    paulstafford Registered Posts: 126 ? ? ?
    Have you considered an apprenticeship option as you are offering an aat study package ?

    May be worth contacting Gloucestershire College for advice.

    Edit: Now read your post fully maybe this isn't the option right now. However, will you be able to recover the salaries mentioned above? I took on someone briefly who was prepared to work for nothing just to build up some experience.
  • Laura8192
    Laura8192 Registered Posts: 95 ? ? ?
    I started on £10k as a trainee, but that was 5 years ago, I'd say £12k with a £2k a year pay rise in the training contract, then they'd be on around £18k by the time they qualified. Good incentive for them to keep studying too, if they know they will get a £2k payrise each year.
  • burg
    burg Moderator, FMAAT, AAT Licensed Accountant Posts: 1,441
    Thanks all.

    I do have my own ideas from my own past experience and from some AAT qualified people I know I have an idea of rates locally.

    It is also interesting to get ideas from others.

    @paul - yes I know I can recover the salaries - I have gained a lot of new work lately and there are some developments that we have in progress at the moment that should mean we have plenty of additional income and work.
    Regards,

    Burg
  • reader
    reader MAAT, AAT Licensed Accountant Posts: 1,037
    £12k + £2k/year (only if they are working hard and performing well) is a standard package in my opinion.

    Like Laura has already said, in 3 years time they MAY be on £18,000 (assuming they are good) and will then have the experience and qualifications to go onto a larger firm where they could get around £25k.

    Obviously, all the figures quoted above depend on location (but not age in my opinion). Also, there would have to be a 3 month probation period, some juniors I've come across really haven't taken to bookkeeping/accounts/tax.
  • Gem7321
    Gem7321 MAAT, AAT Licensed Accountant Posts: 1,438
    I would say £10k + study support in practice
  • JaffasGirl
    JaffasGirl Registered Posts: 387
    Christ some of those starting salaries are really high!

    When I started my first full time job at 18 (not accounts granted by admin, but this person isnt going to be preparing a full set of accounts anytime soon!) I was on £10,500.

    I dont think you need to worry about the person 'leaving because they can get paid better elsewhere' as roles offering experience are so rare these days they this person is quite lucky to be getting the opportunity.

    You dont want to start too high or there will be very little room to be able offer a salary increase as a reward for good work.

    For my first accounts job, which I got at the grand old age of 24, I started on £14,000. But I had level 2 AAT completed off my own back and also six years of work/office experience. I personally was so happy to get the job I wouldnt have cared what they paid me! lol

    So after my rambling, I would say you dont need to offer an inexperienced person with no training that high a package, if they are truly interested in the industry they will look at the what your offering besides the money. As if they were to ever leave your company, interviewers wont really care what salary they were offered, just what they gained professionally.
  • Monsoon
    Monsoon FMAAT, AAT Licensed Accountant Posts: 4,071 ? ? ?
    £13k to start sounds about right to me. It's really hard knowing what to offer, but I'd say that's in the right ball park.
  • deanshepherd
    deanshepherd Registered Posts: 1,809
    I started on £6,750 per annum and would begrudge paying any trainee more than that..

    Bah!
  • Bluewednesday
    Bluewednesday Registered Posts: 1,624
    Would love to work for you Dean lol!!! The original scrooge!
  • jamesm96
    jamesm96 Registered Posts: 523
    We've taken on a few AAT trainees over the years and, at current rates, would pay between £11k - £13k for a full time student, with somewhere in the region of 20 - 30 days per year for college. We send our students to the local BPP and the costs are broadly covered by the government.
  • coojee
    coojee Registered Posts: 794
    I started on £6,750 per annum and would begrudge paying any trainee more than that..

    Bah!

    But was that in pounds, shillings and pence ;-)
  • jamesm96
    jamesm96 Registered Posts: 523
    coojee wrote: »
    But was that in pounds, shillings and pence ;-)

    Where's a Facebook style 'like' button when you need one??
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