Are you an accountant in public practice who thinks they might be due a pay rise?
We’re fully aware that not all accountants see joining a new firm as their preferred option for securing a pay rise. But if you’ve been working at the same firm for a while and an offer has not been received, it’s time to take the bull by the horns and reach out to your manager with a request for more money. In the last 12 months, we’ve been securing record pay rises for our candidates. If you’re an auditor you could be taking advantage of up to 35% increases on like for like roles!
And if you’ve gained more experience, completed qualifications or have taken on more responsibility in your role since you were last given an increase in pay, you 100% deserve a pay rise!
If the question isn’t well received, at least you can be clear on the fact that moving on is likely the best option for you.
So here’s our advice on how to ask for a pay rise as an accountant in public practice.
1. Make sure you’ve researched before you make the request,
One of the services we offer free of charge to our accountants in practice is a benchmarking appointment. This is a quick call with one of our consultants where we consider your career to date and look at how it compares to our vast database of candidates, many of whom we’ve very recently helped to secure recent pay rises. We can consider the market in your area and we can give you an accurate salary range that you should realistically be earning.
This will help you approach your employer in confidence with a figure in mind and the detail to support your request.
Contact us today to book a benchmarking appointment.
2. Choose your timing carefully.
You might find that your firm has a defined process in place for requesting a pay rise, in which case you should follow that carefully.
If not, think about what stage of your firm’s cycle of annual work you might be in, and consider when managers might be looking at strategy or considering budgets and make sure you’ve made your request in advance of that.
Also read the room when it comes to stress levels and mood. Approaching your manager at the end of a stressful day in deadline season might not boost your chances of them saying ‘YES!’
3. Make the request!
We strongly suggest that you request a pay rise formally via letter. This will ensure that it is taken seriously in line with your firm’s policies and procedures and you’ll have a record to revisit if there is ever any debate about your pay.
Here’s some sample text that you might want to consider adapting:
{Insert Date}
Dear {Insert Manager’s Name}
I write to formally request a pay rise in line with {insert the name of the firm}’s policy on pay.
I’ve been working at {insert firm name} for {X} years and my last pay review took place on {insert date.}
Since this time my responsibilities, skills and qualifications have increased significantly with specific changes outlined below:
- {insert increased responsibilities, skills and qualifications – see examples below}
- I passed my ACCA certificate
- I have taken autonomous responsibility for the completion of audits.
- I have taken on supervisory tasks associated with X
- I was part of the team that secured the successful new business of X
- I’ve met/surpassed my goals and targets as outlined in my last appraisal.
I hope you agree that these are just some of the reasons why I’m now performing at a significantly higher level compared to when my pay was last reviewed.
Based on my recent research and benchmarking advice I have taken, I’ve found that the midpoint salary for an accountant with my skills in this part of the UK is £XX. I’d therefore like to request a salary increase of X% to put me in the above average bracket for my role. I believe this ties in with the above average performance I have offered you as a {insert current role.}
I’d be very happy to answer any questions you have in person or to have the opportunity to discuss this further with you.
Thank you for your time and consideration. I look forward to hearing from you soon.
Yours sincerely,
X
We really hope you find these tips helpful and wish you the very best of luck with your request for a pay rise. If, for any reason whatsoever, you’re not happy with the outcome of your negotiations, we’re here to support you to secure the reward you deserve with a firm who will really value your contribution.
