According to a few reports, 71% of accountants dream of making more money. We have found that accountants can enhance their own salary and can also increase their company’s overall revenue. We also learned how accountants act when they want to increase their income in the same company and how it affects the company in which they work.
Method 1: Ask the Director to Raise the Salary
The most obvious way is to go to your boss and ask for a raise. It’s easier than quitting and moving to another city, but it’s also hard mentally. Nobody likes to get rejected.
We asked some accountants if they had tried to communicate with the management about the salary increase. Among all the respondents, 60% asked for an increase, and every second person achieved success – 53%. Here’s how the accountants justified their request:
To get a better understanding of assets and investments, many entrepreneurs and companies in London search for Accountants London to find the best accountant and counselor for their assets and investments. It could be a perfect opportunity for you to enhance your salary by asking them to hire you and give you a decent raise.
It is difficult to say which argument gave the best result. But we know for sure which of them you can easily influence: this is new knowledge and experience.
Method 2: Master a New Area or Skill
An accountant is one of the professions that does not tolerate stagnation. To be in demand as a specialist, you need to constantly follow the innovations in the law, develop and learn new things. Accountants who know how to:
Work with large amounts of information and use all the possibilities of process automation.
Maintain management records and help owners see the real performance of the business and the company’s prospects.
Conduct a comprehensive economic analysis and draw conclusions about each area of the company’s work, make forecasts for business development, draw up business plans and financial and economic feasibility studies.
Keep records in accordance with IFRS and cooperate with international companies.
Method 3: Change Jobs – Company Size and Industry
The salary also depends on the industry. HH.ru reported that accountants of mining, heavy engineering, and construction companies earn the most.
Changing the industry is not easy, but it is possible. You will have to get used to all the new products: other transactions and accounts, reports, rules, and nuances. But accounting itself is not that different.
It is much more difficult to reorganize from the usual volume of work and go into a large business. It is not possible to compare the responsibilities of the chief accountant of a toy retail store and a cartridge factory. The chief accountant of a small company has no employees to manage and difficult issues to be addressed. Most often, he performs ordinary duties: call the tax office, process the primary, form a journal order, and balance the balance once a month.
If you understand that you have reached the ceiling in your company and are bored, then it is time to change your job. After you optimize all the processes and get bored in a new place – move on. Of course, it also happens that a business opens up new directions, recruits more employees, and increases momentum. Then the accountant can safely grow with him.
