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Hi
Firstly please forgive me if I come across as big headed, and I know there will be people out there who say I should be grateful to have a job etc but thats not really the type of answer I need.
so 4 years ago I started on 20k, and once completing my ACCA exam 1.5 years ago I moved to a new job paying 23k. It is a lovely firm, with bosses treating me well, very relaxed atmosphere and just a nice place to work. 6 months ago after a year at the firm they increases my salary to 26k which I was grateful for. However I am now at stage where I have nearly signed of all my objectives and can apply for membership. I could have done this a couple of years ago but have just been lazy in getting it signed of.
So my main question is what salary should I aim for. I think my boss will increase my salary up to 30k, but I have friends who finished their ACCA at similar times to me, and are earning 40-50k now. I dont want to make any demands of my boss and I respect her for all at least increasing my salary a few grand, but the problem is there is only the two of us in finance. She I imagine is on a very high salary and I am stuck on 26k for the moment which for a qualified accountant I think is quite low.
Sorry for the long story, but to sum up should I just suck it up and stay as i get a few grand pay rise and I enjoy working here, or should I look for a job with a higher paid salary?
Well first of all mention the country where you are working!
As I am in Pakistan, I would say stay with this job and demand rise in salary.
Your designation matters here.. Any promotion with increase in salary or just increase in salary?
Is there any policy of company for salaries of staff as per management level?Stay with same job and search for another one, once you get new then you can leave your current job..
Job market here is not good.. and its progress looks lazy..
Sounds ok to me… I would expect approx £30k for newly qualified, I assume you are not in London!
Sorry just saw the first reply. Well there isnt room for promotion here. Just me and my manager. Other departments have many levels so easier to get promoted and jump salaries. Here I can just expect may to be put on 30k.
There’s far too many factors you don’t mention
What is your actual role? Level of responsibility? Its all very well having salary expectations, but you have to work to earn it, just being qualified isn’t the be all, you need to bring experience and ability to the table. As a hiring manager myself, I don’t just loom at qualifications, that is just part of the package.
In the current climate I would expect a salary of £40k upwards for a newly qualified accountant. However, although you don’t want to oversell yourself for a particular role, you do want to make sure you are getting paid at the going market rate – your current salary mentioned seems on the low side to me. Carl29 is right regarding level of experience, I am not qualified and still have 3 exams to sit (June 2013) however, I am getting paid £10k more than newly qualifieds because of the relevant experience I have which is now over 8 years. Note, the word relevant – it’s one thing posting journals on a month on month basis for 8 years but getting involved in reporting and consolidation (or similar responsibilities) is seen as invaluable experience by most firms.
Well in terms of responsibility there is only two of us. Boss’s level is financial controller and them i assist the boss, I do have my own tasks. I am wary of saying too much about the actual job just by the off chance that my boss ever reads this.
I do understand its not just about qualifications, I have got a few years of solid experience, not as much management accounts as I would like, but I am getting there and am quite confident that I could at least get interview for jobs paying in their mid 30’s. I will make an effort to get more involved in the work the boss does and my boss is open to that, then I guess in 6 months I will have my appraisal.
Problem is its hard to ask for a 9k payrise up to 35k which is what I want, and although I can talk about my contribution and the market rate for my qualifications and experience it is still not viable to expect to get more than 30k here.
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hey, i am taking F1 to f4 exams this june from pakistan. please be kind enough to answer my queries, i am thinking of joining london school of business and finance, BPP or kaplan for rest of the papers.
1. do ACCA graduates from BPP, kaplan or LSBF get preference over students who do self study.
2. do these institutions help their students to get jobs
3. i would want to work in london after i am done with my ACCA, so wouldnt it be better if i do my ACCA from london rather than from pakistan
4. what are the chances of me getting a job in london after my ACCA?1) Dude why would they get preference, employers dont even ask if u went to a college like Kaplan,BBP or LSBF. All they are care about if you passed the exams. Personally though if you did it self study it looks more impressive and you can bring this up in your interview that you didnt it without help from college, but I really think it makes no difference.
2) Nope, they only give material and teach.
3) Makes no difference, ACCA is a global qualification, you could do it in Pakistan, England, Vietnam wherever you want, makes no difference.
4) What matters if your experience, ACCA just seperates you out. An employer may be looking for someone ACCA qualified, but if you dont have any relevant experience they will never consider you for the role.
Hope this all helped.
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thank you so much, i have a few other queries:
1. the practical experience required for ACCA, is it more like a paid internship or is it more like proper work. how much does the practical experience pay?2. i read u work in central london, where did u do ur ACCA from?
3. what are the chances of a pakistani getting a job in england after ACCA?
4. wouldnt it be a plus on one’s CV if one is an ACCA graduate from a platinum accredited institution like kaplan, bpp or sunway?
lastly what is the minimum salary one can expect to earn after clearing all the written exams and 3 years practical experience
1) By practical experience it just means getting experience on the job. So yes if you have a proper job, then you will get paid I imagine. I dont know how much it will pay, it depends on where you work and what you do.
2) I did mine mainly self study, I did a couple of modules at BPP and Kaplan
3) Race is irrelevant, if u have your acca and experience then it wont be a problem. London is multicultural and where your from Pakistan, the Mars, Iraq etc it wont matter.
4) Dude don’t you understand. Imagine for example you go to Kaplan, and I myself decide to do it self study. Don’t you think it would look more impressive to an employer that I did it myself, without any help?
5) Again it can depend. Anywhere upwards of about 25k I would say but again it depends on the company and what you do.
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4. i was an LLB Hons uni of london external student. employers prefer LLB graduates from good institutions over students who do self study. therefore in my opinion i think theyd prefer students frm good colleges. n why wud so many students enroll with colleges if self study was the more preferred option?
what is your nationality? how much did u score in F1 to F4 papers?
Yea well everything is different, my point is that an employer doesnt ask, neither of my two employers ever asked which college I had been to. Its really irrelevant, you seem to have strongly made your mind up on this but what I will say is that the reason students go to these colleges is cause they can afford to. Your given material, and they teach you in a class so it is convenient. It helps to motivate them.
Well I am British Asian. I was born in the UK, but parents are from India. I seriously wouldnt worry about how you think nationality will affect anything at all. As long as you have a decent command of English.
Not sure on exact mark. I remember on F2 i got 50 and F4 a similar mark, then in F1 and F3 I got around 70;s.
I think you are going in to the detail way too much. Just get your exams done and get some accounting job experience. Get everything signed off and then sure there will be some decent jobs here for you to get interviews for
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if i take my exams in pakistan and then apply to UK for the practical experience required to get acca membership. would i get a job or do i need previous job exp before i can apply to uk for jobs
To get the practical experience you have to complete 13 objectives. Each one has to be signed off by your boss, who also needs to be a qualified accountant otherwise they can not sign off the objective. One they are all signed off then you have your relevant experience to apply for ACCA
I honestly wouldnt get exams done and then start working. That is a waste of time. You need to do both at the same time, so by time you have your 3 years experience, you also have all your exams and objectives signed off and can apply for membership.
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how much experience do u have n whats ur current salary?
The first post will give you all the information you need about my experience and salary.
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thank you so much
Dear dbuk2000,
I think it would be interesting to read emaan’s querry and alkemiest’s and my answer, in this regard, under title:-
Does Institution matter for ACCA???- Topics: 1
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@sathjyot: what’s so interesting? if i want to take a third, fourth, fifth or even twentieth opinion, i think that’s quite reasonable!
Emaan
No not again!!!Please cool down!!! I did not mean anything… I dont dispute on your right to obtain an opinion a billionth time, who am I to object to it???? I was just inviting dbuk2000’s attention to the same subject….
cheers have a good day dear!!!!!!!!!
Hi,
My husband is British and I am Indonesian, we live in my country for years so not well inform with current job market and salary. We plan to go back to UK soon. Can you enlight me with his chance in UK?
He has 10 years experience(from account clerk,costing, to finacial analysis, well I don’t really understand just saw his CV) bookeping, AAT, now he passed F1-3 and will do F4 and F5 in December.
How is the UK job market (south)? Is it possible to get good job before fully qualified? How is the salary?
Thank you.I have completed CAT and I have 7/14 exams for acca ,I have approx 5 years experience in external auditing with an audit firm, 1+ year in internal auditing at a bank and currently i am a bank clerk representative for 1+year (JUNIOR).My salary converts to approximately 266 pounds. I live in the Caribbean. In my country is very hard to get high paying jobs even with the qualification .And i just don’t know how to demand higher salary from this job or a new job.
You all are very lucky to be getting such high salaries I really admire that. I wish the same for me but i don’t know how much one with my qualification should expect,given my geographic location.
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