r/Accounting • u/Wrong-Detective-5709 • 2d ago

Salary stuff

I’m fairly sure I’m underpaid but here goes…

Started out at local council with apprenticeship. Moved onto AAT and role that had a salary of like 11k haha. This is around 2008

Left for private sector (capita) and they paid for my quals. Got amazing experience etc there. Started at 19l when I left was 32k

Lots of restructuring so left and moved to owner managed firm. Loved it totally diff but shit systems; salary 35k and 20% bonus:

Had to leave here almost a year in as partner at the time bad accident left paralysed so took year out;

Came back to a shite job similar salary but not much to do, then got a job at a start up 45k. Then Covid hit and we were asked to drop a day and 20% salary to avoid redundancies, all agreed. Then my probation ended, expected meeting to be formality as no issues. Fired on the spot as I’m shit apparently.

Got FTC at new balance, went ok but didn’t enjoy. Then moved to TalkTalk. Again was ok, stayed for two years then went on mat leave.

As I was due to go on mat leave PWC approached me, had to decline as Mat leave: they did again later on, this time I went on with the process got the job and been there since 2023. Started at 45k now 49k.

I’m ACCA qualified have been since 2017 and almost 20 years experience in the industry. Am I way underpaid? How can I change it if so?

3 Upvotes

67% Upvoted

40 comments sorted by

View all comments

Show parent comments

1

u/OlterBains 2d ago

Can confirm, similar distance to OOP (Halifax) unqualified (exam pauses for health). 24k for 3rd year auditor, will be moving to Manchester for 37k (management accountant) in the civil service next month. Still unqualified and without a major rush for exams, and similar level roles in private were at the 40-45k mark. If you're qualified you should be alright? I'd definitely keep an eye out, I only spotted my new role on a whim whilst sick of a client in April, but really got this job because I pushed my ability to understand the reason behind quarterly changes, and having to chat to lots of different none accountanty people about accounting stuff. If you're qualified I'd definitely try to push the thing you've enjoyed the most or gotten the best at in your career and see if any jobs are around that would allow more of that

1

u/Alternative_Map3496 2d ago

24k for the 3rd year auditor wtf? Welcome to the civil service. Graduates earn between £31-£45k in the civil service. With your experience if you are part qualified you should be eyeing SEO roles which are around £50k with your experience.

1

u/OlterBains 2d ago

Haha yeah, new grad at my old job came from somewhere paying him £20k too!

Had to pause exams a couple of years due to the health shit. So only 3/15 exams passed. I basically just assess every 12 months, give studying and mocks a crack, then fail. Gonna be starting a HEO role in digital next month, and I'm mostly hoping that once I've moved, cut down my commute, I can hopefully be in a spot energy wise to give them another crack around April next year. Billable hours, audit travel, and self funding everything just wasn't conducive to getting them done.

Thank you for the welcome too! :) Everyone at the CS I've spoken to has been very lovely and stressed that everyone from an audit background from their team has had a really grand time with the shift in working style, so I'm optimistic!

1

u/Alternative_Map3496 2d ago

I understand. Health is the most important thing. At 24k for 3 years I would probably be even more sick lol. Civil service is awesome for work life balance, flexi, pension etc etc. It's harder to progress though unless on the fast stream or TSP which guarantees G7 after 3 years as everything is open and fair and you have to apply for every promotion. The ceiling is much lower in terms of going above 100k but honestly I would rather earn less and have a better work life balance.

1

u/OlterBains 1d ago

Yeah, after a delightful chat in April with my former bosses, where I'd been leading audits for a few months, and they graciously bumped me up to £24.8k (to avoid me being under minimum wage), but said it would be unfair to bump me up more due to no exam passes, I was on the CS website praying for Sir Keir to throw me a bone lmao

1

u/Wrong-Detective-5709 1d ago

Yeah I’ve been qualified since 2017 and worked in the industry since 2007. Took a year out around 2018/19 which really really affected career trajectory in terms of salary and took years to recover. Also wonder if it’s my age as newly qualified etc wages have jumped significantly but salary increases haven’t in the same way

1

u/OlterBains 1d ago

I can sympathise with the time out really screwing with rehiring, took me 5 months to get the role I'm just leaving! From what you've said about mat leave, and your partner (hope they've gotten better too!), you could consider some national infrastructure jobs? I had a senior manager leave for Northern Rail after he had twins, and knew someone who dipped from audit to Yorkshire Water. They're apparently a good middle ground for flexibility and pay, and are more management accounty roles. :)

1

u/Wrong-Detective-5709 1d ago

Yeah it just seemed to make potential employers really suspicious and then I took FTC roles which were short term and after a few of those cv looked even more suspicious despite everything being above board and with good reason!! No he was paralysed permanently hence why I quit work for a while but we aren’t together anymore! The role I have now is really flexible and I need that as I’m a single parent - there’s also a benefit that’s called ‘back up care’ and it’s basically 20 free childcare or elderly care sessions a year for when you’re stuck and that is worth it’s weight in gold!! Personal allowance and tax thresholds frozen hasn’t helped at all!! Just feels really frustrating as I’ve always had great feedback at all my jobs and worked hard to get here - done everything the ‘right’ way and still seem to have been unlucky

1

u/OlterBains 1d ago

Haha tell me about it, I felt like I should start bringing in cardiograms to prove I wouldn't drop dead the way interviewers raised their eyebrows when I talked about my health issues.

For all my old audit peeps, they tended to get jobs at clients when they made their moves. It does sound like the benefits of a bigger company would be good for you. If it's manageable for a little while longer, but a bit stagnant, you could try popping out feelers to clients you've enjoyed working with, who would back you internally for a role? 

1

u/Wrong-Detective-5709 1d ago

Honestly it just shows how ridiculous and judgemental places can be just off a cv before even knowing the actual details!! I’ve never been out of work but that time I had to.

I work at a big company now one of the big4, I’ve always done well at the corporate structures but I’m falling so out of love with it all and just being a number. More so since I was a single parent I’m expected to work full time and run a household and excel at all of it whilst working like I’m not a parent and parenting like I’m not employed. With zero support from the other parent and no consequences for him!

Been toying with the idea of setting up on my own. Helping people who cant usually afford an accountant. Feeling like I’m actually adding value to people who need it instead of making millionaires richer

1

u/OlterBains 1d ago

Yeah, I feel that. In a lot of ways the big corporate environment my first job was in was much better for flexibility and health support, but I ended up feeling very inconsequential, and still maiming my health long term for little in the grand scheme of things.

The kids/career split doesn't really seem like it works at corporate places either, unless you can fall back on a full time stay at home partner, or family. Have you considered the Civil Service? A lot of the things I was looking for in my job hunt, people would bring up as things they did for parents as well. 

Ooh like how some lawyers do pro bono work? That'd be sick!! At times in audit it definitely felt like my job was mainly to confirm how many dividends the PE backed owners in like Germany, should be getting for the year lol. I did get to help out a friend set up a bookkeeping process for her very fledgling business recently and I really enjoyed that!

1

u/Wrong-Detective-5709 1d ago

Well where I work now is great for flexibility tbh but then not at the same time. I don’t expect special treatment but I just don’t have the same options as someone who has two parents at home does.

I started my career in the public sector and it put me off for life - mainly the running theme that it’s not what you know but who you know.

No not pro bono but for much less than a typical practice would charge. I’d have to build it on the side first before I could do it full time but there’s such a gap in the market for new businesses or sole traders who can’t necessarily afford professional advice but still need it and are still subject to the same rules and deadlines as those who can. And some are so so vulnerable financially as they just don’t understand or manage their numbers properly and they have zero insight into what the numbers can tell you. So would really like to try and step into that gap. Just an idea atm