I'm new to the forum so please overlook my mistakes. Just to introduce myself I'm an assistant accountant with about 21 months work experience in a logistics firm. I have passed 13 out 14 ACCA papers. I've also got 1st class honours in BA Accountancy & Finance degree, about 290 UCAS points and 5 GCSEs.
My salary is 17000 at the moment. I think I'm well underpaid. I'm finding it hard to pay my bills with this salary so I need some extra cash coming in on regular basis. I'm thinking of finding a new job which pays better (if that's reasonably feasible in this reccession) or finding a part time job, in addition to my current job, which enables me to work form home.
Any advise will be much appreciated. Thanks for everyones help in advance.
Get passed the 14th exam and do the necessary trainging to become ACCA qualified.
That should then enable you to apply for a job as a qualified accountant though it is a tough market at the moment with supply still outweighing demand.
It really depends what your expectations are of what is a reasonable salary as an accountant. A lot of people think because i am an accountant i must be loaded but in my experience this is a myth unless you own a practice or are FD in a company.
don't forget Management consultants that have made partner level (I know that companies like Andersens had hundreds of partners).
Also some of the accountants who work in banking and Insurance (espechially those going down the actuary path) aren't doing at all badly (although those industries aren't great at the lower levels).
Hi Sohail,
Which is the last remaining paper? If it's an option and you're having difficulty with it might be time to look at a different option. (P7's my nemesis).
Is your work in the logistics firm counting towards your PER requirement? I know that some of the elements can be a real pain to get.
Good luck with it and keep us informed of your progress won't you.
All the best,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I've got 5 per signed off. I'm attemting p4 (advance financial management). I've attempt it in December. It's the only paper I'm attempting so if I work out I should pass it comfortably. Waiting till I'm qualified is an option but I need some extra cash quite urgently. Below is the work exposure I've got so far (no budgeting as yet).
·All aspects of purchase ledger including coding, inputting, payment runs and resolving backlog of queries.
·Month end bank reconciliations for 6 companies.
·Solely responsible for intercompany cash book reconciliations and recharges.
·Responsible for maintaining fixed asset register.
·Posting all month end journals.
·Month end nominal activity analysis and control account reconciliations.
·Preparation of monthly management accounts for directors.
·Month end variance analysis to determine causes of adverse and favourable performances.
·Assisting all levels of management with accounts queries through ad hoc reporting.
·Quarterly Vat returns including filing to tax office.
· Responsible for performing year end procedures including management accounts closure, assisting auditors with queries and processing any necessary audit adjustments.
Once qualified I will be happy with around 28k but I will settle for anything around 25k. I think that's reasonably achievable. I think I should be able to find a job which pays around 22000 with my current experience (I don't expect any study support).
I agree with you, £17K does seem underpaid, but where in the Country are you based? i will suggest you apply for part qualified roles which will definately pay more than what you are on
My advice would be to start looking around - you have a fantastic wide range of experience, which will help in any other role you go for, and for me, the cruncher is getting more of your PER signed off. Without knowing where you are based, like Rhoda said, it's hard to comment on whether you are underpaid or not, but certainly it seems a little on the low side if you are doing management accounts and month end etc. I would expect more along the lines of the early 20's myself for a p/q.
Also, when you do get the interview - reason for leaving, don't put down that you want more money, but focus on the achieving of your PER. Otherwise, they might think you'll leg it for a couple of quid more. Just a thought
