You set out on your accounting career.
You put the time and effort in to get professionally qualified. You may even have financed your study for your professional qualification.
Now it’s just a case of enjoying the rewards.
If only it was that simple.
Some will be reaping rewards. Others may be earning much less than their potential.
So how can you get paid what you are worth as an accountant.
Do your research
One of the great things about the internet is the ease with which you can access data and information.
Obviously all of the accounting bodies do salary surveys from time to time.
As do recruiters too.
These salary surveys are good in terms of giving you some indicators of the going rate at your level and maybe by sector.
The downside and limitations of these surveys is that they are pretty high level.
If you are going to get a much better idea of the salary level for your role you are going to have to do some of your own research.
Looking at roles like yours, in your sector, in the same geographical region, in an organisation of similar size to yours.
In many ways a deep dive to really understand the lower and upper limits in terms of salary.
Do a bit of self promotion in your reviews with your boss
Some accountants are always looking to make improvements.
Others are more settled in their roles.
There’s no right or wrong in this, it’s just the way it is.
Either way what’s important to be able to demonstrate in your reviews how you contributed in the period being reviewed. For example:
- Where you have made improvements.
- Where you have resolved problems.
- Where you have supported a significant project or bid for funding.
What tends to get in the way of you doing that as effectively as you could is that you don’t have a process.
By that I mean a process to systematically record those times where you made a contribution over and above the boundaries of your role.
As a result, you are reliant on memory and tend to forget.
Just keeping a record each month of contributions you have made will help you self promote based on hard data in your review with your boss.
Keep adding to your personal balance sheet
It’s really easy to be passive when it comes to your continuing professional development.
In the past you might have got away with this.
Now with the pace of change in business and increasing expectations of you in your role, it’s vital that you keep developing and add to what you can offer in your personal balance sheet.
That way you can equip yourself to maximise your chances of getting paid what you are worth.