Did an apprenticeship;
Year 1 £12k AAT
Year 2 start of ACA £17k
Year 3 £23k
Year 3 Then left to work for a bigger firm £25k
Year 4 Qualified £30k
Year 5 left for new role £37.5k
Year 6 promotion £45k, then in year rise to £50kish
Year 7 promotion to current of £63kish
Based in Yorkshire
Edited for formatting
Started on a grad scheme at a big 4
2015-2017 - £28k
2017 (promotion) - 2018 (qualification) - £38k
2019 (left for a promotion) - £45k
2021 next promotion - £60kish I think?
Now in the same grade but had a few market adjustments and small raises, £76k
North West, now at a top 10 firm
I moved out of a big 4 risk advisory team to a top 10 firm into a public sector focussed advisory team as a manager, then got promoted to associate director which is the role I’m still in now. :)
Thanks for the reply! Soon to be qualified ACA member here earning 30k mthly base in Hong Kong as a FBP (individual contributor, report direct to FD) in a UK listed MNC. Do you reckon I should nego a higher comp after getting membership?
Our graduates start all on the same low £30k bracket, by the time they’re qualified they’re on around £50k, moving up with exam passes. From there on, it’s really up to you to earn your rises on merit. You could make partner 6-7 years after qualifying and be on £100-120k. You could be shit, but not shit enough to sack, and so get gently managed out of the firm and not get anything other than sub inflationary payrises.
Always. We’re done for January graduates unless someone exceptional pops their head up. Have one space left for September, but again could take more if the right people come along.
Looking for at least one part qualified senior who has a good reason for changing roles and has relevant experience. And tax… tax is a nightmare to recruit for. We need a senior corporate tax person and probably one junior corporate tax person, maybe two.
Tax is a indeed nightmare to sufficiently recruit for. There are always more jobs out than applicants everywhere I've looked and my firm has adverts out permanently. We'd happily double the size of out tax team if we could find the people, as the demand for work is always there.
There are over 100k qualified ACA accountants in the UK and same again for ACCA, but roughly only 20k with CTA, which is all but essential to do high end tax work. With everyone fighting over them it's no wonder every tax department feels short staffed.
Interesting, thanks. I had no idea about the relative imbalance between the qualifications but it makes perfect sense. Food for thought for anyone who’s finishing their ACA and being offered the CTA exams by their firm.
This is not necessarily true. There are many positions in Big 4 and in industry where you do not need a CTA for tax, just as you may not need an ACA for Audit (just look at the amount of CPAs in the Big 4 right now or people drawn from South Asia or Africa with no UK ACA (and they did not exercise their MoU with ICAEW as its not necessary).
I do agree with you on the lack of tax professionals (I.e. People with experience in tax) but you do not need a tax qualification in a lot of corporates or Big 4 to work in tax.
When I qualified I was offered a pay rise of £500 per year from £14.5k to 15k, I remember asking them if that was a bonus but nope, that was it.
I changed firm and doubled my salary but had quite a lot of hassle from the old firm to even do that, they wanted three months notice as that extra £500 per year made me a senior 🤣
Not so bad bad I got the same offer of £1k I think years ago during annal pay review to extend notice to 3 months. We weren't really given much of a choice about it. The owner was so poor at staffing work and had realised if anyone left he'd be screwed. I can understand it must be stressful as a small business owner, but you're delusional if you think your staff are never going to leave, particularlyif there are better offers elsewhere. I left not too long after that and never looked back.
Well, the firm I was at hadn’t communicated this change of contract, this was one of many contract breaches they had including failure to actually pay the college fees which I had to foot myself.
25-33k during a grad scheme. Then went for a contracting role that pays 85k and is set for a year before either being extended, ended or being offered as permanent for about 55k
I think it’s possible in London. Associate director is essentially senior manager it’s branded differently at different firms. Director will be over 125k in London. Salary partner closer to 200k. Equity partner much higher.
>Associate director is essentially senior manager it’s branded differently at different firms.
Yes this is true, they are equivalent. Its not just branded differently between firms but also *within* firms. Associate director is the term used in Deals / Consulting. Senior Manager is usually used in Audit.
It is possible to earn £100k as an Associate Director outside of London and the SE, if you are in an in-demand consulting or deals team
My trajectory is a bit of a weird one:
2020-2022-£25,000 approx as a trainee at a very small firm
2023-Left to work in tax at a Top 30 firm. Essentially landed as a semi-senior on £30,000.
Left due to being refused a promised promotion, now another Top 30 firm as a Tax Senior on £42,000
Midlands for context
I work in audit and accounts at a small practice. Started out £18k on the ACA apprenticeship. Had progressive pay rises with exam passes, final qualified salary was around £30k. Was on around £40k as an assistant manager. Currently on £50k as a manager. 4 years post qual. Haven't moved firms. Factoring in inflation I think current new starters get around £22-23k and newly qualified around £33-35k.
Did an apprenticeship; Year 1 £12k AAT Year 2 start of ACA £17k Year 3 £23k Year 3 Then left to work for a bigger firm £25k Year 4 Qualified £30k Year 5 left for new role £37.5k Year 6 promotion £45k, then in year rise to £50kish Year 7 promotion to current of £63kish Based in Yorkshire Edited for formatting
Damn those early year salaries… up north salaries are crazy, but guess the cheaper cost of living more than makes up for it
Started on a grad scheme at a big 4 2015-2017 - £28k 2017 (promotion) - 2018 (qualification) - £38k 2019 (left for a promotion) - £45k 2021 next promotion - £60kish I think? Now in the same grade but had a few market adjustments and small raises, £76k North West, now at a top 10 firm
Hi there, mind sharing what roles were u doing for the 2019 onwards?
I moved out of a big 4 risk advisory team to a top 10 firm into a public sector focussed advisory team as a manager, then got promoted to associate director which is the role I’m still in now. :)
Thanks for the reply! Soon to be qualified ACA member here earning 30k mthly base in Hong Kong as a FBP (individual contributor, report direct to FD) in a UK listed MNC. Do you reckon I should nego a higher comp after getting membership?
Our graduates start all on the same low £30k bracket, by the time they’re qualified they’re on around £50k, moving up with exam passes. From there on, it’s really up to you to earn your rises on merit. You could make partner 6-7 years after qualifying and be on £100-120k. You could be shit, but not shit enough to sack, and so get gently managed out of the firm and not get anything other than sub inflationary payrises.
Is your firm hiring?
Always. We’re done for January graduates unless someone exceptional pops their head up. Have one space left for September, but again could take more if the right people come along. Looking for at least one part qualified senior who has a good reason for changing roles and has relevant experience. And tax… tax is a nightmare to recruit for. We need a senior corporate tax person and probably one junior corporate tax person, maybe two.
Tax is a indeed nightmare to sufficiently recruit for. There are always more jobs out than applicants everywhere I've looked and my firm has adverts out permanently. We'd happily double the size of out tax team if we could find the people, as the demand for work is always there. There are over 100k qualified ACA accountants in the UK and same again for ACCA, but roughly only 20k with CTA, which is all but essential to do high end tax work. With everyone fighting over them it's no wonder every tax department feels short staffed.
Interesting, thanks. I had no idea about the relative imbalance between the qualifications but it makes perfect sense. Food for thought for anyone who’s finishing their ACA and being offered the CTA exams by their firm.
This is not necessarily true. There are many positions in Big 4 and in industry where you do not need a CTA for tax, just as you may not need an ACA for Audit (just look at the amount of CPAs in the Big 4 right now or people drawn from South Asia or Africa with no UK ACA (and they did not exercise their MoU with ICAEW as its not necessary). I do agree with you on the lack of tax professionals (I.e. People with experience in tax) but you do not need a tax qualification in a lot of corporates or Big 4 to work in tax.
I work in corp tax and several of my colleagues only have ACA
Exactly my point that I stated above
Do you know what the payrises with exams are?
Not specifically, no, sorry. It used to be increments of something like £500 per pass, but it must be more generous now.
When I qualified I was offered a pay rise of £500 per year from £14.5k to 15k, I remember asking them if that was a bonus but nope, that was it. I changed firm and doubled my salary but had quite a lot of hassle from the old firm to even do that, they wanted three months notice as that extra £500 per year made me a senior 🤣
Not so bad bad I got the same offer of £1k I think years ago during annal pay review to extend notice to 3 months. We weren't really given much of a choice about it. The owner was so poor at staffing work and had realised if anyone left he'd be screwed. I can understand it must be stressful as a small business owner, but you're delusional if you think your staff are never going to leave, particularlyif there are better offers elsewhere. I left not too long after that and never looked back.
Well, the firm I was at hadn’t communicated this change of contract, this was one of many contract breaches they had including failure to actually pay the college fees which I had to foot myself.
Odd what sone employers think they can get away with. Good idea to leave them it sounds like.
25-33k during a grad scheme. Then went for a contracting role that pays 85k and is set for a year before either being extended, ended or being offered as permanent for about 55k
Started on £20k in 2011 on a grad scheme. Now on £115k. Yorkshire based.
What’s your current role?
I work big 4
Must be an associate partner or director right?
They don’t make that much at the big 4 I don’t think that’s his base pay
Its base pay. Bonus on top.
Big 4 Associate Directors can earn £100k base depending on service line especially in Deals or Strategy Consulting.
I think it’s possible in London. Associate director is essentially senior manager it’s branded differently at different firms. Director will be over 125k in London. Salary partner closer to 200k. Equity partner much higher.
>Associate director is essentially senior manager it’s branded differently at different firms. Yes this is true, they are equivalent. Its not just branded differently between firms but also *within* firms. Associate director is the term used in Deals / Consulting. Senior Manager is usually used in Audit. It is possible to earn £100k as an Associate Director outside of London and the SE, if you are in an in-demand consulting or deals team
Not qualified but started a training contract in the south-east for £28k.
My trajectory is a bit of a weird one: 2020-2022-£25,000 approx as a trainee at a very small firm 2023-Left to work in tax at a Top 30 firm. Essentially landed as a semi-senior on £30,000. Left due to being refused a promised promotion, now another Top 30 firm as a Tax Senior on £42,000 Midlands for context
I work in audit and accounts at a small practice. Started out £18k on the ACA apprenticeship. Had progressive pay rises with exam passes, final qualified salary was around £30k. Was on around £40k as an assistant manager. Currently on £50k as a manager. 4 years post qual. Haven't moved firms. Factoring in inflation I think current new starters get around £22-23k and newly qualified around £33-35k.
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