What is your current salary and benefits?

I’m looking for some advice from other students as I think I’m being underpaid.

So right now I’m AAT level 4 qualified and have worked at a firm for 2 years, I have the job role of an accountant I.e everything from payroll to accounts for limited companies.

I am going to start my ACCA shortly so I will be working 4 days a week (1 day at uni) and the firm is going to pay for my uni fees.

I’m being put on a salary of £15000 (which will increase as I pass ACCA exams). But I feel that’s too low. Looking around on indeed, the salary for someone of my level seems to be about £18000+. Can anyone please share their thoughts and also feel free to share your salary!

Answers

  • NorvydasNorvydas DevonRegistered Posts: 93
    @aat2200

    I am not going to share my salary as I think this is something personal, however I do agree that you are being underpaid, I have been working as Finance Assistant for 1.5 years and now I have been offered position as Accounts and Tax Assistant (Predominantly working with Business Tax), and I am on a lot more than what you are, also I am not qualified Level 4 (nearly there). After I complete my Level 4 my employers said the salary will be reviewed again.

    Well I am saying that you are being underpaid, however you will only work 4 days a week and your workplace will cover ACCA studies, when you think about how much the studies actually will cost to your employer then I think it works out ok. I've paid Level 4 myself and I am thinking of paying for ACCA by myself again as I study online.

    Again, salary is dependant by location i.e. In London you will get paid more than living in some small town.

    How long will you study ACCA for and what are the costs that the employer has to cover? Is it £9k a year?
    Kind Regards,

    Norvydas Valavicius.
  • mergenmergen Just Joined Registered Posts: 82
    Look elswhere thats far too low. Contact recruiters. You should at least be on min £20k with study support.
    But it all depends on experience and location (as mentioned above).
    aat2200
  • ncraggsncraggs Just Joined Registered, Tutor Posts: 70
    I would download the AAT salary survey, and compare yourself to that.
    AAT Distance Learning Director First Intuition www.fi.co.uk
    BertDoesBookkeepingdavealucas
  • BertDoesBookkeepingBertDoesBookkeeping SheffieldRegistered Posts: 10
    It would help knowing where in the country you are as to whether you are getting a good deal locationally or not. However, some assumptions can be made here that might be indicative.

    What you should consider, first, is the full value of the package you are being offered:

    You are working 4 days a week, so technically 0.8 FTE. Were you working full time that salary would equate to £18,750.

    The firm are paying your Uni fees (which I am guessing is your ACCA study). For each year, you should consider that they're spending £2,500 at the least on you, nearly £9k at the most which technically bumps the value up to c. £21 - 27k.

    So the package value isn't that bad but it's probably teetering on average. If you do want my opinon, I think you're being underpaid pretty significantly but I'm not here to tell you what you should do. You'll know whether you enjoy working at the firm or not and whether you'll get this opportunity elsewhere or not. But don't just count your job on its salary; take the whole picture into account.

    And, ditto to the above - check the Salary Survey. It can be useful when you're asking yourself this question.
    MAAT
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  • ElladaEllada Registered Posts: 41
    Hi,
    I've done AAT L4. I work as an accountant in accountancy practice in Watford. I've got £31000 per year (£17.50p/h) and we're looking for another accountant for similar salary))) You're (AAT2200) could be perfect candidate for us
    aat2200
  • JJ1JJ1 Registered Posts: 10
    Look into option to work as self-employed. You will earn so much more. Even for bookkeeping you can easily charge £25 p/h. I have started a few years ago and now I have so much job that I cannot take any new clients. Good luck.
    aat2200
  • amurrayamurray Feels At Home Registered, AATQB Posts: 159
    edited September 20
    ncraggs said:

    I would download the AAT salary survey, and compare yourself to that.


    I would agree with Nick, the AAT salary survey is really helpful for salary advice. It has helped me personally by negotiating a pay increase based upon my level of qualification and knowledge learnt to date.
    AATQB - (Studying Level 4).
    aat2200
  • aat2200aat2200 Registered Posts: 23
    > @Ellada said:
    > Hi,
    > I've done AAT L4. I work as an accountant in accountancy practice in Watford. I've got £31000 per year (£17.50p/h) and we're looking for another accountant for similar salary))) You're (AAT2200) could be perfect candidate for us

    Lol I wish but that’s a bit far, I’m from wales!
  • aat2200aat2200 Registered Posts: 23
    > @JJ1 said:
    > Look into option to work as self-employed. You will earn so much more. Even for bookkeeping you can easily charge £25 p/h. I have started a few years ago and now I have so much job that I cannot take any new clients. Good luck.

    Something I am thinking of but as part of my contact currently I am not allowed to offer my own services :/ although I want to get my practising certificate after ACCA and open a firm
  • Rusty1985Rusty1985 Registered Posts: 40
    edited November 1
    Yes, you are being underpaid without a doubt. Do some bench marking and call a meeting to discuss this. I am half way through level 4 and on £25k in Bristol plus I get my course and exams paid for so a total package around £27k.

    Best of Luck
    dumutrobaRyanMIP
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