A question about graduate pay and **** taking
Discussion
Badda said:
Jasandjules said:
He has a choice does he not? If it is not enough money then he can refuse to sign the contract and find a job that pays him more.
Problem solved.
What made you think that this hadn’t occurred to him? Problem solved.
I'm just not convinced that he couldn't use it to renegotiate a better rate.
A good mate works at another of the big four (actually 5 now apparently) that begins with D. He started on €24.5kpa. They are training him for his ACA exams ( he spends one Saturday a month in college classes). The pay goes up every 6 months ending up at €45kpa. They Pay for his training and his exams. He also drives for work a fair bit and gets a very generous mileage allowance per km. Think he got €185 quid for one day's drive to a client (during work hours) and put <€20 diesel in his B8 Passat (He had a B6 but they have a minimum age to receive the generous mileage allowance).
Long hours but time in lieu (he's going to Oz for a month next week!) and decent benefits.
Tell him to stick at it. The worst case he sticks it for a couple of years he would be welcomed with open arms at one of the other firms no hassle at all.
Long hours but time in lieu (he's going to Oz for a month next week!) and decent benefits.
Tell him to stick at it. The worst case he sticks it for a couple of years he would be welcomed with open arms at one of the other firms no hassle at all.
Pit Pony said:
I'm just not convinced that he couldn't use it to renegotiate a better rate.
I don't think there is much renegotiation at entry level. There are a lot of applicants.Given he has a 1st and masters from a good uni (very good department though with a slight odd water tower), and a bit of life experience, he might want to look at other options.
Consulting - PA Consulting, Capgemini, Deloitte (consulting), EY, maybe even McKinsey.
Pit Pony said:
I've suggested that with a start date some months away, he doesn't stop looking. Whether he takes my advice is to be seen.
I'm just not convinced that he couldn't use it to renegotiate a better rate.
For an entry level role they won't be keen to negotiate. They know there will be a dozen people behind your son happy to take the money.I'm just not convinced that he couldn't use it to renegotiate a better rate.
However, his long term prospects are good for a large employer with generally impressive benefits, not to mention a good one to have on the CV. He has done well.
NO harm in looking elsewhere of course if a better position came up, but looking at just the salary figure is unwise in the game of grad start jobs IMHO.
Badda said:
Jasandjules said:
He has a choice does he not? If it is not enough money then he can refuse to sign the contract and find a job that pays him more.
Problem solved.
What made you think that this hadn’t occurred to him? Problem solved.
Pothole said:
Badda said:
Jasandjules said:
He has a choice does he not? If it is not enough money then he can refuse to sign the contract and find a job that pays him more.
Problem solved.
What made you think that this hadn’t occurred to him? Problem solved.
rgw2012 said:
He will be a trainee Accountant (Auditor) with a degree in Chemistry that has no bearing on the job - his starting salary should be expected to be the bottom of the ladder as he is without any relevant qualification or experience, same as any other newbie to that profession. I would imagine his learning capability, as demonstrated through achieving a degree, will stand him in good stead as he progresses up the ladder (debatable I know) but aren't there industry specific exams that he would also need to pass in order to improve his market value.
I'm not surprised at the salary level being offered. If he had a degree in Accounting for example then I would expect him to be starting at the £30k+ sort of level.
What degree do you think would have a bearing on being a trainee accountant (audit)?I'm not surprised at the salary level being offered. If he had a degree in Accounting for example then I would expect him to be starting at the £30k+ sort of level.
Badda said:
Pothole said:
Badda said:
Jasandjules said:
He has a choice does he not? If it is not enough money then he can refuse to sign the contract and find a job that pays him more.
Problem solved.
What made you think that this hadn’t occurred to him? Problem solved.
Badda said:
Pothole said:
Badda said:
Jasandjules said:
He has a choice does he not? If it is not enough money then he can refuse to sign the contract and find a job that pays him more.
Problem solved.
What made you think that this hadn’t occurred to him? Problem solved.
He's happy, it's his over protective dad who wanted to check his own cynicism.
I NOW accept that long term is the best way to view it. and will be able to be be encouraging with out feeling that I'm lying a little.
I started over 3 years ago in an accountancy role, in industry as opposed to practice, on £28k. My salary was static until I became qualified but from speaking to people in practice they get pay rises for each exam pass or every X months so it would roughly equal out.
My salary was inflated compared to others who started training in the business as I had gained a place on a graduate scheme. I think non-graduate scheme starters were on around 18k so the Big Four offering isn’t terrible. Plus they pay for your training and my ACA cost c.£13k in total. I didn’t go on lots of the classroom courses so the cost could be much higher. Think of the salary and investment in training together and it isn’t too bad (unless you fail an exam).
My salary was inflated compared to others who started training in the business as I had gained a place on a graduate scheme. I think non-graduate scheme starters were on around 18k so the Big Four offering isn’t terrible. Plus they pay for your training and my ACA cost c.£13k in total. I didn’t go on lots of the classroom courses so the cost could be much higher. Think of the salary and investment in training together and it isn’t too bad (unless you fail an exam).
Pit Pony said:
No no. Please dont get into a cat fight.
He's happy, it's his over protective dad who wanted to check his own cynicism.
I NOW accept that long term is the best way to view it. and will be able to be be encouraging with out feeling that I'm lying a little.
Apologies. Fair enough, mate. I guess the summary of all the info above is along the lines of it is a piss take but them's the breaks, take it or leave it...He's happy, it's his over protective dad who wanted to check his own cynicism.
I NOW accept that long term is the best way to view it. and will be able to be be encouraging with out feeling that I'm lying a little.
Pothole said:
Hmmm, how does one "make" an opinion? If he got a Masters 4 years ago, isn't he gonna be about 30? Why is his Dad even involved?
26 last week.Lives with his fiancee, another science graduate. Planning thier wedding for next year.
Dad is asking the question because Dad was surprised at how low the starting salary is.
Pit Pony said:
Pothole said:
Hmmm, how does one "make" an opinion? If he got a Masters 4 years ago, isn't he gonna be about 30? Why is his Dad even involved?
26 last week.Lives with his fiancee, another science graduate. Planning thier wedding for next year.
Dad is asking the question because Dad was surprised at how low the starting salary is.
Olivera said:
When I graduated ~20 years ago big auditing and consultancy firms were offering starting salaries at the time in the region of £20k.
I would suggest that something is awry in the labour market if it hasn't increased much since then.
The HMRC have a "inflation" checker. I put in my graduate salary of 10680 quid at Lucas Industries as a manufacturing systems engineer (T4T) and it comes to £26,600 now. I would suggest that something is awry in the labour market if it hasn't increased much since then.
Pit Pony said:
So my son got a 1st Masters in Chemistry from York.
4 years ago.
He worked in Cancer drug discovery, and after 2 years took voluntary redundancy and did teacher training at Birmingham.
So during his NQT year he decided that he hated being a chemistry teacher.
So he's changing direction again. He applied and has been successful with one of the big accountancy firms. You know the one that begins with P, and gets fined occasionally and f
ks up the Oscars. Job is a trainee in the Assurance function (auditing?)
Leads to ACA chartered status.
Now is it just me or is £22k a year a proper pistake?
I know there is the dangling of carrot, and all that, but to me it just says we actually are going to treat you like st.
I've tried to be encouraging, but if he was me, I'd be looking elsewhere.
I live in the here and now and not the future and occasional regret it.
That’s normal. My nephew got a 1st from Manchester- he’s on 22k with EY. I have quite a few friends who are either current or ex-Big 4. The pay is great but they work you like dogs. A lot of people move into Industry because of the much better work-life balance. After a few years he should be at Audit Manager level or maybe even Senior Manager (so roughly £50k). Partner is where the big bucks are at - AIUI Alpinestars is one so he might be able to provide more info.4 years ago.
He worked in Cancer drug discovery, and after 2 years took voluntary redundancy and did teacher training at Birmingham.
So during his NQT year he decided that he hated being a chemistry teacher.
So he's changing direction again. He applied and has been successful with one of the big accountancy firms. You know the one that begins with P, and gets fined occasionally and f
ks up the Oscars. Job is a trainee in the Assurance function (auditing?)Leads to ACA chartered status.
Now is it just me or is £22k a year a proper pistake?
I know there is the dangling of carrot, and all that, but to me it just says we actually are going to treat you like s
t. I've tried to be encouraging, but if he was me, I'd be looking elsewhere.
I live in the here and now and not the future and occasional regret it.
AIUI my nephew will get the opportunity to go on secondment to NY, Australia, or Singapore so there are benefits other than pay.
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