Barden & CIMA Ireland Student Focus Series - How much should I earn while I am training?
Barden have been working with CIMA Ireland to curate some unique content and insights for CIMA students and trainee accountants across Ireland. This weeks topic is
Earning & Learning Curves – the right way to figure out how you should be paid
First things first, your salary as a trainee accountant isn’t everything. Right now, salary should be ‘a’ consideration, not ‘the’ consideration. It’s your earning potential after you qualify that will really count and that will be a direct result of what you learn when you are training. Confusing? Let’s look at this idea of earning v’s learning a little more closely.
Trainee accountant base salaries range from about €25,000 to about €40,000 – that is a pretty big range! The lower end if this scale is more relevant to recent graduates just starting out. The higher end more relevant to people with 2-4 years practical experience.
Here is the catch – a company likely will pay you more for a role that you already know how to do. Why? Well, because you know how to do it, will need very little training, will hit the ground running and there is far less risk for the company that you won’t work out. However you will learn less.
In the very same way a company will likely pay you less for a role that you do not know how to do. Why? Well, because they will have to train you, your manager will have to invest more time in you, and there is a bigger risk for the company that you won’t work out in the job. However you will learn more.
The lesson here is that learning is more important than earning while you are studying to become a qualified accountant.
If you can get this balance right – getting fast and better at the job you know (add value) and then pushing to take on new responsibilities in the extra time you create (learning) – then you will ultimately create for yourself a better, more rewarding, professional future.
It’s not easy to get this balance right – understanding the need for this balance is the first step in the process….
(This content was published on the CIMA Ireland website here >>> and shared with CIMA students in Feb 2017.)
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