[Anonymous]

Over a year ago, while still in school, I got my offer from the firm I interned at. That was about 15 months ago. At the time, the offer (for examples sake I’ll use $45K) was a TINY bit lower than my friends at school (47k on the high end) but certainly not a low ball offer. All of our offers had a provision that read something like “salary will be adjusted for market changes” … mine was the only one that wasn’t. My college friends were given a raise before they even started (and many got additional signing bonuses) which I assume is fair because of the amount of time that elapsed between the offers and our start dates. I’m still at 45K and they’re sitting at 50K right off the bat. To make matters worse, new hires that are starting in January are getting beginning offers of 50-51K. To put things in perspective, I started at the end of July. These are all similar sized firms with a couple miles of each that are our competitors.

I know I’m in no position to ask for a raise but what can I do? Since starting full time I’ve been informed by others that my firm can be slow to promote even when it’s due so I’m assuming salary decisions follow a similar route. But, the ONLY firm to not adjust wages? I just can’t stand it that new hires (not that I’m not a new hire) are making $5,000 more down the street doing the same work because my firm did not provide the “market adjustment” that they mentioned in my offer letter.

What do y’all think?

[MeaDebitum]

Sorry?

[Anonymous]

“250k with exclusive helicopter privileges or I'm walking.”

[PursuingCPA]

Well, in my opinion, I think maybe you should send your resume out to other firms and see if they're interested. If you find one that's interested in you and makes you a tentative offer, then you can go back to your firm and ask them for a raise and tell them why you believe you should earn 50K. The answer to that shouldn't be, “because everyone else.” You should list the work you do, and if you're training any of the other new hires coming in, that a good point to start with.

Good luck.

[Anonymous]

Hey Anon,

Couple things, you need to be aware of: one is the your cost of living in your area, so you can check what the average salary is for someone at your level in your area on the internet, there are a lot of those salary research type sites online, just search for them. Your salary now might be a higher than the average already.

Secondly, your “pay” isn't necessarily just about money. You have to be aware of the other benefits of your job, such as location, time commitment, and most importantly, learning potential. You may not make as much as your peers right away, but if you develop faster and learn stronger skills at the firm you are at, the money will come.

Sweet

[Anonymous]

“Well, in my opinion, I think maybe you should send your resume out to other firms…”

“The answer to that shouldn't be, “because everyone else.” You should list the work you do, and if you're training any of the other new hires coming in, that a good point to start with.”

Thanks for the reply. I too thought about that but didn't know how it would look to a prospective firm that I've only been on the job a few months. I also appreciate that I can't just walk in to HR and say “Joe's making $$$ down at Firm X, so I should too”. Despite my short amount of time on the job, I have received numerous compliments from my partners and have been given certain responsibilities that I think help me stand out so hopefully I can have that going for me.

“Couple things, you need to be aware of: one is the your cost of living in your area, so you can check what the average salary is for someone at your level in your area on the internet…”

This I did… a lot. I started with the internet and browsed all of the salary websites and then went right to the source: my friends. Most of us work in the same area so location isn't really a factor with what I'm comparing to.

“Secondly, your “pay” isn't necessarily just about money. You have to be aware of the other benefits of your job, such as location, time commitment, and most importantly, learning potential. You may not make as much as your peers right away, but if you develop faster and learn stronger skills at the firm you are at, the money will come.”

This I agree 100% with you about. The location has free parking and they are super flexible with hours. Learning has been slow beginning at this time of year. On that same note, I get a weeks less of vacation than many of my peers, a smaller CPA bonus, etc. Are there pros to my job? Absolutely. Does that make me feel better about paying the bills/saving for retirement/etc.? Yes and no lol

It's a sticky situation. I feel like I'm getting the shaft but I don't have the leverage to sit down and say “Hey, every other firm that we're competing against is adjusting starting salaries, paying larger bonuses, etc.”.

Thanks all for your help. Any other suggestions are appreciated!

[jelly]

Differences in:

1) Health insurance?

2) Short-term disability?

3) Life insurance?

4) Hours during busy season?

5) Layers of politics?

Couldn't pass again!

[TaffTax]

Do you have a lot of down time at your work? Use it to study for the CPA and then apply as a senior at those better paying firms. I'm at a firm, peanuts for pay and barely any benefits, but I spend most of my time looking for new jobs or studying so I really can't complain because I'm certainly not being overworked. I forgot my audit book at home today so I guess I'll just have to actually do some work.

[JakeO]

What some posters, while still correct, are forgetting the fact that employees hired right after him will be making 5k more, not just his schoolmates at other firms. But you are in a tough position because you offer nothing special at this point (sorry) other than your internship and education, and there are a ton of other people in your same position. Its real world experience in accounting, and the subsequent CPA designation, which means a lot. I would say don't push anything and just be glad you have a job (like i had to do in summer 2011 when i graduated) and start getting that CPA asap. It would be especially difficult since you have already started working to get and adjustment to salary so early.

AUD-Failed (Waiting for Score)
BEC-PASSED (First try)
REG-Failed (Retake February 2013)
FAR-Failed (Retake January 2013)

[Author]

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