Accountancy profession

Curran1994

Hi just joined the forum, been on a few times just looking up.

Recently graduated Uni in the summer on a training contract in Belfast for ACCA in industry. Looking at salarys when Qualified and kind of feel that the salary doesn"t reflect the time put in compared to friends who are recently qualified sparks, plumbers etc some getting 200-300 a day in Dublin whilst an accountant £35k works out roughly £500 a week after tax. I"m not saying that its bad but just in comparison what do you all think as it"s doubting me if I made the right choice.

Also after qualification will industry experience allow to get into practice as hope to eventually go out or my own long term obviously.

Thanks for reading

Timmyr

Curran1994 wrote: »

Hi just joined the forum, been on a few times just looking up.

Recently graduated Uni in the summer on a training contract in Belfast for ACCA in industry. Looking at salarys when Qualified and kind of feel that the salary doesn"t reflect the time put in compared to friends who are recently qualified sparks, plumbers etc some getting 200-300 a day in Dublin whilst an accountant £35k works out roughly £500 a week after tax. I"m not saying that its bad but just in comparison what do you all think as it"s doubting me if I made the right choice.

Also after qualification will industry experience allow to get into practice as hope to eventually go out or my own long term obviously.

Thanks for reading

Salaries for accountants tend to rise  with experience, trade wage is generally capped once a certain level is reached. In a time of economic downturn do you think these plumbers and sparks will all have consistent work? accountants probably will (hopefully) 
I am an accountant who has previously been in an apprenticeship as an electrician and I can tell you with ease which profession I would rather be in, particularly on a cold wet Monday morning.
An accounting degree is also a great starting point, there is nothing to say you have to go down the ACCA route, for example you could do your QFA exams and become a financial advisor.
One thing I do know is that it will be difficult to go from Industry to practice, particularly when qualified as you will be not have any Audit experience.

Curran1994

Timmyr wrote: »

Curran1994 wrote: »

Hi just joined the forum, been on a few times just looking up.

Recently graduated Uni in the summer on a training contract in Belfast for ACCA in industry. Looking at salarys when Qualified and kind of feel that the salary doesn"t reflect the time put in compared to friends who are recently qualified sparks, plumbers etc some getting 200-300 a day in Dublin whilst an accountant £35k works out roughly £500 a week after tax. I"m not saying that its bad but just in comparison what do you all think as it"s doubting me if I made the right choice.

Also after qualification will industry experience allow to get into practice as hope to eventually go out or my own long term obviously.

Thanks for reading

Salaries for accountants tend to rise  with experience, trade wage is generally capped once a certain level is reached. In a time of economic downturn do you think these plumbers and sparks will all have consistent work? accountants probably will (hopefully) 
I am an accountant who has previously been in an apprenticeship as an electrician and I can tell you with ease which profession I would rather be in, particularly on a cold wet Monday morning.
An accounting degree is also a great starting point, there is nothing to say you have to go down the ACCA route, for example you could do your QFA exams and become a financial advisor.
One thing I do know is that it will be difficult to go from Industry to practice, particularly when qualified as you will be not have any Audit experience.

Yeah I know, wanted to get into practice but unfortunately didn't get any offers, as they say beggars can't be choosers.

Also as you mention economic downturn how long have you been an accountant? and if so was it threw the 2008 crisis and what was the work/salary like during it and was accountant salaries high during the tiger in contrast to the construction industry?

crimon222

Salaries for qualified accountants tends to trend upwards long term. It is no surprise to anyone that accountants in the early stages of their careers have low paying salaries; however, you will find that opportunities to move up in a company, global mobility and career advancement are much greater than most professions.

Curran1994

yeah I know it is low but even in comparison a recently qualified accountant at the age of 24 at the earliest vs a recently qualified electrician at the age of 20, electrician is on a lot more money and at a younger age if you get my point?

tanit

Curran1994 wrote: »

yeah I know it is low but even in comparison a recently qualified accountant at the age of 24 at the earliest vs a recently qualified electrician at the age of 20, electrician is on a lot more money and at a younger age if you get my point?

The question is what's more important to you.

1. Have a steady job where your salary will continue growing over the years and you might more or less be sheltered when the crisis hit (and they always hit again trust history on that one)
   
2. Have a bunch of money right now, maybe or maybe not have a job when the crisis hit again, and after a couple of years your salary not growing at all if you are still in the job.

You can complain as much as you like now because you feel at a disadvantage but your life is not going to end tomorrow and you are going to live for still a few more decades. How do you want to spend those years?. You can enjoy both the present and the future and not feel so much envy just because someone else is getting more money than you right now. Do something about it pass the accountancy exams you will be making more money than them and have a more stable life in a few years time

Curran1994

Good life lesson 😂😂 sorry seemed to be complaining was just saying, thanks for the feedback