For context, I started an apprenticeship in accountancy here in the UK back in November 2020.
I’m currently on the national minimum apprenticeship wage for 21 year olds and have been since I turned 21 in December last year. I work full time and this puts me at earning a little under 16 grand a year after PAYE and NI deductions.
Last month I successfully passed the Level 3 portion of my apprenticeship and am moving onto the Level 4. I want to ask for a payrise, but need some advice about the best way to go about doing this.
What’s a good percentage increase to ask for that won’t cause the Partner I’m asking to laugh in face? What points should I bring up to back up my case? Is it worth mentioning I have been contacted by recruiters on LinkedIn who have seen my profile and have been enquiring about whether I’d be interested in some of the positions they have available (all of which offered better pay than my current employer, however I’m contractually obliged to stay with my current one until I’ve completed my level 4)?
Some advice would be greatly appreciated.
5 comments
Don’t forget to ask for one.
Just have an open conversation and say you think you are settled and you are enjoying your work but you think your contributions are worthy of a better pay packet.
They can only say yes or no
Just ask for a pay rise but don’t put a figure on it, they will evaluate the issue and suggest a value. Anything is better than nothing and it won’t hurt your relationship with the company.
Unfortunately the accountancy profession is the worst for paying employees. Simply anything paid to you is less for the partner you work for.
When I first started I worked for 2 years for a top firm and got a measly 10% uplift in that time. Then I went to another practice and got around an 80% increase.
Some firms get unskilled grads and see how long they can keep them at low cost, and other firms get and pay for skilled employees.
I think you’re in the former.
The only question is whether you move on after qualifying or now.
The worst you can do is undertake some market reference as to whether you’re being underpaid and whether another year of it is cost benefit useful to you.
In the ‘old days’ accountancy firms would give you pay rises according to how many papers you’d past. At the firm I was in it was literally like 10 cents per paper per hour. But we billed in 6 minute segments…. so everything was micromanaged.
Nb: There is no such thing as an ‘apprenticeship’ in the accountancy profession. Apprenticeships existed in the trades and were for set periods of time under indentured conditions. You are a trainee.
Find a job vacancy that you reckon you’ve a realistic chance of getting. And use that as a bargaining chip… “give me a payrise or I will leave for this better job”
It also helps if your current company has a man power retention problem