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Congratulations! I'm sure there are big things to come!
If you have been working in accounting for the past eight years you are drastically underpaid
I’m making 82.5k as an accountant. entry level straight out of university
*not including expected bonus
I was in a similar situation for 3 years after college at around 50k. Switching companies can make a world of difference.
If I would’ve stayed with my original employer, I think my salary would be around 60k (2018 to now - 3% bump every year). My total compensation this year after switching companies twice since 2018 will be close to 162k.
The problem with staying at a company for too long imo is they get used to your performance and don’t work very hard at keeping you current with industry averages.
Always be looking to change companies. There is likely an employer out there willing to pay more for your skills. Rinse and repeat every few years.
I completely understand where you’re coming from. Changing jobs sucks, and there are so many benefits that can come from a long tenure. However…
A 2019 study by ADP (literally the industry-leading payroll/HR benefits vendor) found that staying in your job results in as 4% salary increase, while changing jobs results in a 5.3% bump; this results in 10-15% pay difference (or more) depending on your industry and role. I recently switched from a lower-than-industry-standard-pay role to a good fit role and got a 30% pay increase. Good luck out there - keep looking!
Keep pushing man, remember to always do what's best for you.
I cannot imagine only making 45k let alone for 8 years. I don’t know how people survive on that with a family
That’s why I’m renting. I could do a 60k down payment but it’s better invested in the market than in a home.
I'd definitely start looking around. I learned the only way you can have considerable raises is when you go somewhere else. When applying, mention the current salary as what you want to get, and for 8 years, you should be at least around 85-90k
What company you work at?...
Make switch to big 4 accounting firms
Congratulations! That's so exciting!
You work in accounting but you are not a CPA, is that correct?
Yeah, im just an accounting associate for a manufacturing company -- we use Deloitte for our actual accounting needs -- basically, im a bookkeeper thats titled as accounting associate...
Congrats on breaking through
How often should you change companies?
2-3 years IMO if there are no clear advancement opportunities