Job offer!
Discussion on internships, jobs and graduate schemes for playing with numbers and cooking the books.
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Job offer!Hey guys,
I am due to graduate from Durham in July and have recently been made a job offer from a top 50 accountancy firm. I feel I am far more suited to a slightly smaller firm rather than the largest firms, such as the big 4 for example. I am just wondering about starting salary and how this is likely to increase in a smaller firm. I believe I will start on about 23-24k pa, in the London office. Where is this likely to go as I study toward the ACA? I know that the big 4 guys are hitting around 30k in their third year, will I be anywhere near that? And then on qualification, what is it likely to be?
Thanks for your help.
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Re: Job offer!Near impossible to tell from the details given, but what I can tell you is rough big 4 figures. Perhaps we can backwards engineer from there what you may be looking to earn.
Big 4 (roughly)
Year 1: 28k
Year 2: 29k
Year 3: 32k
Qualified: 43k (sometime towards the end of year 3)
So if you're starting on 24k, taking 4k of each of these figures might act as a rough guide
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Re: Job offer!It's more than that once qualified.(Original post by M1011)
Near impossible to tell from the details given, but what I can tell you is rough big 4 figures. Perhaps we can backwards engineer from there what you may be looking to earn.
Big 4 (roughly)
Year 1: 28k
Year 2: 29k
Year 3: 32k
Qualified: 43k (sometime towards the end of year 3)
So if you're starting on 24k, taking 4k of each of these figures might act as a rough guide
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Re: Job offer!In audit? Hope you're right(Original post by Regent)
It's more than that once qualified.
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Re: Job offer!The logic is sensible, but it does not work quite like that..... Remember when you part qualify and then qualify you will get paid market rate which will not matter what size firm you work at.(Original post by M1011)
Near impossible to tell from the details given, but what I can tell you is rough big 4 figures. Perhaps we can backwards engineer from there what you may be looking to earn.
Big 4 (roughly)
Year 1: 28k
Year 2: 29k
Year 3: 32k
Qualified: 43k (sometime towards the end of year 3)
So if you're starting on 24k, taking 4k of each of these figures might act as a rough guide
The difference between the big 4 and the rest is eroded by your second year. On qualification in audit it can be anywhere from £40k to £45k, assuming central London. -
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Re: Job offer!Their business model is kinda based on cheap grad labour. They get you on the cheap, you get to be trained by the best and move on. Both parties gain. But they can't afford to keep everyone on so they offer you less than you would get elsewhere. Most people jump. At least that is what I am led to believe.
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Re: Job offer!I'm just just gonna break the system and make partner by 30. Go me(Original post by Wassana)
Their business model is kinda based on cheap grad labour. They get you on the cheap, you get to be trained by the best and move on. Both parties gain. But they can't afford to keep everyone on so they offer you less than you would get elsewhere. Most people jump. At least that is what I am led to believe.
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Re: Job offer!Twas mere sarcasm. I imagine I'll fly the nest after 3 years(Original post by Tokyoround)
Lol you're going to need an awful lot of luck! Closest i've seen is a 36 year old and he was a brand new partner. Seems like a long rocky road to partner.
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Re: Job offer!Heard it was more like 10--12 years. So 35 max for most people who join as straight grads.(Original post by Tokyoround)
Lol you're going to need an awful lot of luck! Closest i've seen is a 36 year old and he was a brand new partner. Seems like a long rocky road to partner.
Doesn't seem like there's a point in staying at the Big 4 unless you're terrible and can't get a job elsewhere or you're on track to make partner. So there must be a huge difference between the talent there after 4/5 years based on this reasoning. -
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Re: Job offer!There's a point in staying for people who aren't just in it for the money? I can see why one would get comfy here, and there are a lot of incestuous Big 4 job swappers so it can't be all bad.(Original post by Regent)
Heard it was more like 10--12 years. So 35 max for most people who join as straight grads.
Doesn't seem like there's a point in staying at the Big 4 unless you're terrible and can't get a job elsewhere or you're on track to make partner. So there must be a huge difference between the talent there after 4/5 years based on this reasoning. -
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Re: Job offer!Like?(Original post by Tokyoround)
There's a point in staying for people who aren't just in it for the money? -
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Re: Job offer!Well i'm not in such a position myself but off the top of my head: relatively secure; family/friends will have actually heard of where you work and have some rough idea what you do (how many non-finance people understand hedge funds/PE/etc.?); relatively low pressure; get comfortable and actually grow to care about the firm; get accustomed to the flexible working/benefits.(Original post by Regent)
Like?
It's not all about money, different people seek different things out of a career, some might not even want a career, just a job. -
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Re: Job offer!Job security, good training and predictable routine are probably the main reasons for staying. Personally, I don't think the stress of remaining in practice is worth it - the work is definitely not low pressure! Why stay after qualification when you can move into commerce, immediately earn £10k more, and actually work reasonable hours? It's a pretty brainless decision IMO. I agree that it's not all about money, but having free time is valuable.
Last edited by S; 05-07-2012 at 23:35.
