Have a serious question. My relative just started 2 months ago in tax in a very small firm and earning 50k in a higher MCOL area as an undergrad hire which is stupid low. What should the next steps be in order to get out of this and get a bump? Is 2 months to start looking for a new job discouraged? The probation period hasnt ended yet either

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It’s honestly not “stupid low” just like 2 years behind market (that hadn’t moved much in a decade)

But - no harm in looking elsewhere to see if anyone is still needing campus hires for January!

likehelpful

Thanks

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Accountant salary is not a big secret. He knows how much others arw getting paid, he just couldn't get those jobs.

Tbh, unless he explicitly asks for help, leave the man alone. He will get a better job once he has experience.

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If it’s in public accounting he should stick with it if he can. Income will go up drastically every year especially with promotions. Overall the investment now will be more worth it than leaving.

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Public = your clients are businesses and individuals that need accounting done

Private “industry” = you work for the accounting department at a company

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Honestly they should look now and at larger firms. If they like atmosphere of a smaller firm they will be paid better to go back with even a year of experience at a larger firm.

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They can request not to contact the current employer and provide alternative references if needed.

Also I’ve never had any contact my prior employers/internships until the background check phase. At that point you have an offer in hand so no harm at that point.

Stick it out for a year then move to another firm as an experienced associate. Rinse and repeat every 2-3 years

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Yes. He’s not going to know anything in less than a year.

I switched to KPMG after two months at a regional firm. I applied to a campus associate position at PwC and an experienced associate position at KPMG and received offers for both.

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Wow a Boston firm only paying 50k for tax? That is like getting paid less than $24/ an hour. Interns got paid more than that in big four 10 years ago. Your relative needs to leave immediately. There is still time.

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Exactly but the only prob is resume looking bad

What’s the MCOL city? Pay difference at Big 4 public accounting firms isn’t very different at entry level

Poor financial decisions such as renting a 2k/month apartment on a 3k/month net wage are the problem here, not the compensation.

What makes you think he is underpaid? The job market at most firms in tax/ audit are still pretty hot right now. It wouldn’t hurt for him to apply to see if he gets an offer and that will help them determine if he is underpaid. But waiting at least a year will likely get more in the market as well since 2 months is basically nothing in terms of experience.

You’re being questioned because it appears you’re not comparing apples to oranges. The big firms have an “OT bump” built in as the model switched in the 90’s to go from hourly to salary. Does this small firm have the compensation model or is there more peaks and valleys without the peaks being as extreme?

Don put the 2 months working experience in resume cos it doesn't look good. Employer might have bad assumption when screening resume.

Why did he end up at a small firm? Did he look at the B4 and mid-sized firms? How were his grades at school?

.

If he really wants to leave with only 2 months, he should update his linkedin profile and have interested in opportunities toggled on, that way big4 recruiters will be the one contacting first and he can use that as leverage at every stage of the subsequent interviews saying “hey yall the ones who contacted me, and I thought it was a great opportunity “ to answer the question “why are you leaving so quickly?”

If no bites from big 4 recruiters then he can easily move with 1 year of experience to a big4 given the market stays the same

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