Any Management Accountants?

SaberX on 19/07/2018 - 11:17

Hi guys. Hoping to get some input from some management accountants out there in regards to remuneration and what an average or decent salary is. If anyone is shy happy to take a PM but always great to discuss openly as we all want to be paid in line with our peers, if not better.

I've been offered a management accountant role and it comes in just above 100k base (excl super). Company is largely debt free miner and with decent operations its future isnt wobbly currently.

The problem is ive been spoilt for choice on jobs previously and due to a comedy of recruiter errors lost the ones I had narrowed down. So i know i can find jobs. Just a matter of when and what is on offer. In the past i earnt circa 110k give or take and my contracting currently brings in just over 126k annualised as im on a decent hourly rate.

The step back to 100k is psychologically abit hard to do but i realise one or two years back i was on alot less. It's a step sideways as ive always done financial accountant style roles so a blend of month end,accounting, and indirect taxes etc. This would give me budgeting,operational aspects,costings and variance analysis etc. All items i lack day to day exposure. The idea is to gain a broad skillset to get up to an FIn controller/manager role so this would tick the operational side. I would then only be lacking asx /statutory reporting experience and consolidation experiences.

Ive been working since circa 2009, CA since 2013, half the time in pub practice half in commercial.

Any advice if the offer is abit of a low ball or should i take it for the sideways experience (one step back, two forward)?

I'm just worried that ive got a full time role and that the last few were paying slightly more but were lost at the nth minute due to some poor recruiter management. I can't help but think what else is out there??

My contract role is also a decent pay as mentioned so i was hoping to earn extra money for a few months then slide into a ft role at completion or after some time. So this throws a spanner into the works as ive been there less than a month. How do i approach this?? I dont want to burn any bridges but before i took on contracting i always heard there was no loyalty and it was normal to leave in your one weeks notice. I still feel morally bad and that i should stick out longer (as i was brought in urgently as they needed assistance). The people and work are great just there is no chance of a full time offer.

Any advice? Would love to hear what other mgt accountants with a similar level or exp or otherwise are earning??just to help put things into perspective….

Many thanks!!

Education & Work

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dasher86 on 19/07/2018 - 11:22

$100k + Annual leave benefits vs contract?
- SaberX on 19/07/2018 - 11:35
  
  Yes. Annual leave equates to 7.5% more on the base (150 al hours vs 1950 std work hours ina. Yr).
  
  Its skewed as mgt accountants i see always do overtime. In a contract role you'd be paid for it?
  
  Is a chance of a bonus but ive never been big on accounting for a 10% bonus as the company may not hit its goals even if you hit your personal kpis. So not a consideration currently.
HighAndDry on 19/07/2018 - 11:28

we all want to be paid in line with our peers, if not better.

Kinda contradicting yourself there. If you're being paid better, someone else is being paid worse.

I've been offered a management accountant role and it comes in just above 100k base (excl super).

Was that their starting offer? Tell them what you said here - you were on a higher rate of pay before, you've obviously gained experience and skills since then, and so you feel you're worth more. This is now a negotiation.
- SaberX on 19/07/2018 - 11:39
  
  Well we all want to be paid on average what the roles worth BUT we all do want that job that pays more than the market average is what im saying. I think both trains of thought can coexist? Just like how some jobs pay well below other peers?
  
  Yes it was starting offer. I spoke verbally as They were aware of my prior pay to see if it was a deal breaker. Prior to a written offer . Supposedly they use a benchmark index etc. So policy wise can't go higher. I did push for meeting halfway but unfortunately was rejected. The idea was probation end remuneration could be reviewed but i would assume given how short of a time that is your not going to get a sudden boost as your still learning and unlikely to come flying in looking like a cfo and kicking goals to justify a large increase?
  
  Company looks promising and stable so no issues on work and people. Just abit disappointed it wasnt a higher amount for an operational miner. But not sure if over time it will pay off??
[Deactivated] on 19/07/2018 - 12:00

I've done both management/financial and project accountant roles - for both ASX Top 50 and Fortune 500's

Suffice to say, you wont have any issues finding roles in the future - makes you highly marketable. Also, makes you a well rounded Accountant
- SaberX on 19/07/2018 - 12:34
  
  In the context of moving laterally into mgt accounting is what your referring to?
  
  The role wont tick off on the statutory reporting side or consolidations but i guess it is hard to tick off on both that (typically corporate accountant/financial accountant's domain) and management accounting operational aspects. One or the other except ina role for a smaller gig. Hence hoping to get to a financial controller level soon but mindful as id like to make it in my early 30s than someone mid 40s.
sahh on 19/07/2018 - 17:45

Pay sounds reasonable for first step from financial to management accountant.

Are you interested in this role because mining is an industry you want to get into and progress in? Employers will value industry experience Quite highly.

Also are you looking to make financial controller of a small company or large company? A financial controller in a small company might be paid the same as a manager in a large company, so consider which path you would like to pursue.
- SaberX on 20/07/2018 - 01:56
  
  I'm ok with industry…i wouldnt mind working in non mining so you get retail or other experience selling goods or items..but at the same time ive never worked mgt acct at resources. Did the financial acct side in a miner for 3.5 yrs though so have worked in it before.
  
  It seems a fair bit of roles in WA based are mining so recruiters have suggested continuing resource experience? Im wondering if learning for 2 or 3 yrs willcbe enough to bed down skills to combine with my long stints in financial accounting (not fin reporting though( to land a fc or fm role.
  
  When you said manager role in a large company what did you mean as a fin controller to me is management? I did get offered a fin controller role at a small fintech asx listed and i too noticed the pay was similar and when the total teams less than 10 i guess on paper it looks good but in reality i wonder if all those jumping to fc/fm roles so early in their careers (i.e. pre 10 yrd working exp) actually have shallower experience and are all about looks on paper??
  
  That said i feel being pushed upwards will force you to learn and develop into mgt role bettee than floundering at an acct level role for too many yrs??

Any Management Accountants?

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