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£13,000 starting salary at small accounting firm in London - take it or leave it?

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I'd think it'd depend on your circumstances. If you're living at home and doing part-time work/work experience/volunteering or making yourself better for employment, then possibly pass it up. But if you're really struggling to find a position, a job is a job. Accountants generally start with a low salary and large amounts of work (with experience from my father and brother), but 13k for London does seem a bit ridiculous. I would enquire how much it would go up and what you would need to do to accomplish this. Maybe it's really easy to increase the salary? Also, when thinking about bills, remember you have council tax now.
Original post by ItTakes2meNu
I suffer from social anxiety so when I get to the interview stage I get too nervous and forget everything I've planned to say. Sometimes I even struggle to get the words out. I have been getting help for the past year or so and although it has improved I've still got a long way to go. Also, the rejections haven't really helped with my confidence either. Not sure what else I could do really.


In my opinion, taking the job would be your best bet. If your anxiety is what's holding you back from getting better positions, then I'd suggest you take the job and continue to work on it, whilst looking for a better job in the mean time. I do agree the salary isn't ideal but the way I see it you have the chance to enhance your CV and build your confidence so you're in a much better position when you get a more desirable job. I don't know what your employment status is at the moment but if you are unemployed, it's better than nothing.Think of it as a means to an end, all the greatest start from somewhere. I hope it all works out for you x
Don't settle for less than your best.
£13,000 was my starting salary as a non-graduate at a provincial firm, having left university with less than one year's previous experience in a related occupation. As the holder of a first-class vocational degree, your baseline salary expectation within London should be £18,000.
Original post by midgemeister7
People also seem to be forgetting that a lot of the time you can't just leave a training contract - you often have to buy your way out which could be pricey.



Good point.
HELL NO! My friend earns that and he works at a takeaway
Original post by ItTakes2meNu
I finished university almost 4 months ago with a first class degree in Accounting and Finance.

I have applied to pretty much every accounting firm out there and have got rejected at some point in the recruitment process whether that was at the interview stage or the assessment centre. [Probably have applied to over 100 companies]. I'm a pretty positive person but I have been feeling down thinking about it.

I have got some experience having done some voluntary work at a solicitors office (about 6/7 months) and did do a couple of weeks work experience at an accounting firm but I have never had a paid job.

Now though, I have been offered an ACCA training contract at a small accounting firm in London. But the issue is they are only offering £13,000 which is pretty low having looked around even though my employer did say that it will increase once I get a grasp of the work (he didn't mention by how much but I assume not significantly since it is a small firm).

I have until Monday to decide and wanted to know what others thought.


Are they paying for exams?

Are they paying for your tuition?

Are you granted study leave?

Do your parents live in London?

If you are paying rent you will have to turn it down as living in London is unsustainable on £13k
I would take it and use it as more experience. Baby steps have always been the way and who knows from working there you could attract potential employers who will offer you a better salary. You also don't have to worry about paying back your student loan just yet.
I'd take it,. Otherwise you become one of the grads unemployed for over a year after graduation. I imagine that's a hard cycle to break out of.

Also, having actual experience would help both with your social anxiety and with interview.

And you probs wouldn't be seen as disloyal for leaving from other employers, they might sympathise with "13k in London".

And in interview for other jobs, when they ask "why did you, as a 1st calss degree holder, take that job?" implying there's something wrong with you, you say youi had anxiety and that the job helped smooth it out and its no longer a problem.,

That's wehat I'd do anyway.
Reply 29
Hahahaha, Why people do degrees in accounting I will never understand. 2 year college course and you're ready to roll. This is why you are getting rejected, you are competing with people who started at 18 and have tons more work experience than you. You don't know any more than they do yet have no experience in accounting. I speak from experience, loads of people at my school chose accounting degrees, they all work in retail now. Basically what they are offering is an apprenticeship in all but name which is why the pay is so low. You should have been applying for these when you were 18. So there you have it, you have to pretend you never did a degree and start at the bottom. My dad got into the local council on an apprenticeship and he said that there were graduates there doing the exact same job for the exact same pay as him, the graduates just got promoted faster.
Original post by Plutonian
Hahahaha, Why people do degrees in accounting I will never understand. 2 year college course and you're ready to roll. This is why you are getting rejected, you are competing with people who started at 18 and have tons more work experience than you. You don't know any more than they do yet have no experience in accounting. I speak from experience, loads of people at my school chose accounting degrees, they all work in retail now. Basically what they are offering is an apprenticeship in all but name which is why the pay is so low. You should have been applying for these when you were 18. So there you have it, you have to pretend you never did a degree and start at the bottom. My dad got into the local council on an apprenticeship and he said that there were graduates there doing the exact same job for the exact same pay as him, the graduates just got promoted faster.


I'm not sure what is exactly so funny to you. I knew I didn't have to go to university to become an accountant but I decided to go not simply because it would increase my job prospects but because going to university was a lifetime goal. Yes its helped me gain a breadth of knowledge in accounting but more importantly university has helped me develop myself as a person. I wouldn't exchange that experience for anything. Of course everyone has their own opinion but for me I want to enjoy my life to the fullest and if I had missed out going to university I would have regretted it.
Thanks for the reply everyone. I have had a chat with the employer and I told him my concerns with regards to the salary. He agreed that it'll be a struggle for the first year but assured me that it will get better. Also, he told me that I wouldn't start the ACCA training immediately but would start after 3 months. Therefore I'm thinking of taking up the role, see how it goes for 3 months whilst in the meantime looking elsewhere to see if I can find something better.
Reply 32
Original post by ItTakes2meNu
I'm not sure what is exactly so funny to you. I knew I didn't have to go to university to become an accountant but I decided to go not simply because it would increase my job prospects but because going to university was a lifetime goal. Yes its helped me gain a breadth of knowledge in accounting but more importantly university has helped me develop myself as a person. I wouldn't exchange that experience for anything. Of course everyone has their own opinion but for me I want to enjoy my life to the fullest and if I had missed out going to university I would have regretted it.


Well it sure as hell didn't increase your job prospects.
Ok if you think the debt and partying instead of gaining work experience was worth it then good for you.
I'd suggest clarifying exactly how your future pay increases will work. I don't work in accounting, but I thought you got pay increases per exam passed? Perhaps these are quite reasonable, so it's worth clarifying.

But as you said, there's no harm in taking it for 3 months whilst you look for something better. Provided there are no penalties for you leaving so soon after starting. Read the contract carefully if you are going down this route. If you didn't take the job, what would you do and be earning instead in those three months?
Original post by strangesquark
I'd suggest clarifying exactly how your future pay increases will work. I don't work in accounting, but I thought you got pay increases per exam passed? Perhaps these are quite reasonable, so it's worth clarifying.

But as you said, there's no harm in taking it for 3 months whilst you look for something better. Provided there are no penalties for you leaving so soon after starting. Read the contract carefully if you are going down this route. If you didn't take the job, what would you do and be earning instead in those three months?


The pay will depend on how quickly I am able to grasp the tasks given to me and when I start to work with clients one to one. But you're right, he did say the pay will increase after each exam pass and also when I qualify.

And if I didn't take it up then I would most probably spend my time at the solicitors office voluntarily which although I have enjoyed is not something I would like to go into.
Original post by ItTakes2meNu
The pay will depend on how quickly I am able to grasp the tasks given to me and when I start to work with clients one to one. But you're right, he did say the pay will increase after each exam pass and also when I qualify.

And if I didn't take it up then I would most probably spend my time at the solicitors office voluntarily which although I have enjoyed is not something I would like to go into.


Do you mind me asking if the volunteering would be in London or not? It's just that if it is in London, you'll be incurring similar expenses but not earning anything. And if it's outside of London, it's worth making up a quick spreadsheet to estimate your costs for both options and compare.

It's good that you still have something to do, and therefore something to put on your CV and talk about in interviews.
Original post by Plutonian
Well it sure as hell didn't increase your job prospects.
Ok if you think the debt and partying instead of gaining work experience was worth it then good for you.


If I'm struggling to land a decent paid job with a degree I don't know what my chances would be without one. I had little to no experience when I left college and my confidence was low as well add the anxiety and I doubt I would have been able to get into any accounting firm then. Yes it works out for some but not everyone is lucky to get a job. Maybe it worked out for you but don't start judging people because of what you've gone through. Everyone has different circumstances.

Also, university is not all about partying (it wasn't for me anyway) and in fact if you read my previous posts I'm not even into that. Yes the debt is an issue but that's something I was prepared to take on and its not something that I need to be concerned about paying off until I earn a certain amount. Plus, the fact that it gets written off after 30 years so its definitely not gonna be hanging over my head until I die.

Anyway I'm not sure why I'm even explaining this to you cause you won't understand, I know what I've gained from it and thats all that matters to me.
(edited 8 years ago)
Original post by strangesquark
Do you mind me asking if the volunteering would be in London or not? It's just that if it is in London, you'll be incurring similar expenses but not earning anything. And if it's outside of London, it's worth making up a quick spreadsheet to estimate your costs for both options and compare.

It's good that you still have something to do, and therefore something to put on your CV and talk about in interviews.


The volunteering is not in London, its something I started doing over the summer and continued doing whenever I came back from university. The office is right next to my permanent home so it wouldn't cost me anything.

The main thing for me is I want to qualify as an accountant and I know once I do I can move on. With the qualification under my belt and the experience it'll help me get a better paid job. So even though the pay isn't great, I think it might be worth going for until I find something better.
You sound like you want to take the job. If you can budget well I think you will be fine. I still say draw up a spreadsheet estimating and tracking your expenses, just to help you get a clearer financial picture. Best of luck if you do take it.
I'd say try and negotiate, a few ideas: ask for a clause in your contract that would allow you to transfer to another company to complete your ACCA (maybe in exchange for some time at this company when you finish), for a relocation/travel allowance, or ask for a flat salary (+inflation?) during your training and in return for a clause saying you will work for them for x amount of time.

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