Help & Advice

Lloyd1997x

Hi all,

I have come to this forum for a bit of guidance and advice,

Currently, I have two years experience in book-keeping, doing VAT returns and now I have started to complete accounts, and I have audit experience. I finished my degree in Business Management & Accountancy and Finance with a 2:1. This has given me a few exemptions on my ACCA studies (which are being funded by my workplace). However even though that is great, I am currently on £18k per year.. and I have an appraisal coming up.

The firm is a medium size company, but should I be expecting more? I have just completed my first exam of Corporate Business Law, and an exemption of FM, so I have to complete a few more before the advance level of ACCA.

I’m happy in my role, but I travel to and from work which takes 2:30 - 3:00 a day..

What salary should I ask for and perhaps the best way to speak about this in my appraisal ?

Thanks,

Reply 1

ajj2000

20

Original post by Lloyd1997x

Hi all,

I have come to this forum for a bit of guidance and advice,

Currently, I have two years experience in book-keeping, doing VAT returns and now I have started to complete accounts, and I have audit experience. I finished my degree in Business Management & Accountancy and Finance with a 2:1. This has given me a few exemptions on my ACCA studies (which are being funded by my workplace). However even though that is great, I am currently on £18k per year.. and I have an appraisal coming up.

The firm is a medium size company, but should I be expecting more? I have just completed my first exam of Corporate Business Law, and an exemption of FM, so I have to complete a few more before the advance level of ACCA.

I’m happy in my role, but I travel to and from work which takes 2:30 - 3:00 a day..

What salary should I ask for and perhaps the best way to speak about this in my appraisal ?

Thanks,

What type of work do you do? Is this in a small accounting practice or industry? Have you worked full time for 2 years?

What funding for ACCA and time off for studying does your firm offer?

Which part of the country are you in?

Reply 2

Lloyd1997x

OP

3

Original post by ajj2000

What type of work do you do? Is this in a small accounting practice or industry? Have you worked full time for 2 years?

What funding for ACCA and time off for studying does your firm offer?

Which part of the country are you in?

Hi Ajj,

Thanks for taking the time to answer my query..

So to answer your questions, I do VATs, Accounts (With help sometimes), Audit tasks..

I am in practice which I’d rather stay in, and I have worked for full time. Also, for funding Fr ACCA they pay my first exam, and I get leave when I have revision for college.. usually 3 days every 3 months.

I am in the south of England, about twenty minutes away from London..

Reply 3

ajj2000

20

Just to check - you say you have two years experience in bookkeeping. Is this all full time and with your current firm?

If so why have you only just started studying?

Genuine question - are you finding it very tough to live on £18k?

Reply 4

Lloyd1997x

OP

3

Original post by ajj2000

Just to check - you say you have two years experience in bookkeeping. Is this all full time and with your current firm?

If so why have you only just started studying?

Genuine question - are you finding it very tough to live on £18k?

I have two years experience, one with my firm and one with another firm for my placement role, albeit I done no accounts so I have learnt a lot here!

I have a few exemptions from going to University, but not loads as I completed a joint honours course which was Business Management & Accounting and Finance.

I’m not struggling with the amount at all, and since then it has been improved to 20K however I feel 22K would be a nice round amount.. it would help with the increase of driving lessons (as I am currently learning to drive).

Or am I just being too greedy

Reply 5

ajj2000

20

Cool - I’ll come back when I’ve finished work and answer your actual question. I’m conscious I’ve been asking broader things and would never pass an exam with that approach!

Reply 6

Lloyd1997x

OP

3

Original post by ajj2000

Cool - I’ll come back when I’ve finished work and answer your actual question. I’m conscious I’ve been asking broader things and would never pass an exam with that approach!

Thanks for that - No stress, enjoy work!

Reply 7

ajj2000

20

"What salary should I ask for and perhaps the best way to speak about this in my appraisal ?"

I'm pretty stuck on this. You note travelling 2.5 - 3 hours a day for work and earning £20k. 2.5 hours a day sounds like a long commute. Not something which necessarily demands a higher level of pay but worth considering if you have jobs available nearer to home, or if your commute would be much quicker should you be able to afford a car.

On the other hand a job you enjoy, is providing training and development and financing your studies is something to be valued.

Regarding how much you might ask for - I would try to get hold of large salary surveys from recruitment firms. Michael Page has one you can download and I think Robert Half and Hays might also have them available. Perhaps also look at job ads to get a feel for market rates.

If you were struggling to live on the salary and had options closer to home I might be a lot firmer than I would otherwise. Given you seem keen to stay with your current employer I think I might start a conversation by asking what your salary growth might look like, what might be attainable and what the timeframes might be, and what you would have to achieve to gain a significant pay increase.

Regardless of the above your current pay rate sounds very much on the low side. Focus on getting to around 7 Acca exams cleared either through exemptions or passes and then check out the market.

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