Is this normal accountant role

steamers123

Hi,

I have an interview with a company through an agency for a junior accountant training contract however there are some strange terms, there is a 3 year training contract however if I leave before the contract ends I must pay back all study fees and recruitment fee (few thousand).

There is also no website.

Thanks for any help

cazziebo

For expensive training like accountancy that's quite a usual condition of employment. It usually reduces as time goes by e.g. after two years reduces to 50%, 3 years 25% etc.

Not every company has a website, although you would expect google to have some results if they have been trading for any length of time. You could check them out via the Companies House website.

MoneySavingUser

1) It is common in training contracts for you to be required to pay back fees - this can vary and can be any of:

- pay back all fees
- pay back last 12 months fees
- a sliding scale where the % of the fee you have to pay back reduces with the time that passes since when it was incurred
- some other similar arrangement

2) It isn't common for you to have to pay back the recruitment fee as far as I am aware

3) Who doesn't have a website the employer or the agency?

4) Is this an accounting firm or a company? If an accounting firm you could check with their professional body

5) What qualification are they asking you to train for? AAT, ACCA, something else?

Bluebirdman_of_Alcathays

The requirement to pay back training fees is absolutely normal. They want to get something back for their investment.

My father's firm doesn't have a website. As above, check companies house.

steamers123

Thank you for the help guys, much appreciated.

MoneySavingUser wrote: »

1) It is common in training contracts for you to be required to pay back fees - this can vary and can be any of:

- pay back all fees
- pay back last 12 months fees
- a sliding scale where the % of the fee you have to pay back reduces with the time that passes since when it was incurred
- some other similar arrangement

2) It isn't common for you to have to pay back the recruitment fee as far as I am aware.

This is what made me a little edgy, but I'm assuming it's to discourage people from leaving just 1-2 years in. Should I be concerned?

3) Who doesn't have a website the employer or the agency?

The employer. I've just checked companies house and they are up to date and have been trading since 2003

4) Is this an accounting firm or a company? If an accounting firm you could check with their professional body

Accounting firm, but that's a good idea, I'll definitely do that.

5) What qualification are they asking you to train for? AAT, ACCA, something else?
ACCA.

MoneySavingUser

Assuming they are a smaller firm then it isn't too much of an issue if they don't have a website. Do you know who any of their clients are? Maybe you can ask one of them about them.

Personally I'd be worried about the recruitment fee being clawed back - but I can't comment much on that aspect.

You should check carefully whether they claim back the money if you leave voluntarily only or even if they dismiss you [probably best not to ask at an interview but check the documents carefully if they make you an offer].

It is a little bit scary signing the form where you agree to pay them back all the tuition fees but many of us have been there (including me) you just don't have much choice I'm afraid.

Also - if in 2 years time you get a job offer at another firm sometimes the new firm will agree to pay the fees for you.

steamers123

Hi, thanks for the reply.

Any other opinions/experiences on the recruitment fee being clawed back?

Would this be a deal breaker for you/should I avoid?

Thanks in advance for any responses

burnoutbabe

Its not at all normal to have to repay that fee.

(it is for the training as you benefit from that)

I'd push back and say no to it, its not at all common and most accounting firms wouldn't include it.

MoneySavingUser

It is a difficult one - on the one hand I can't say that I would be happy about it, on the other jobs are hard to find.

Have you had any other interview requests? Can you see yourself staying at this place for the 3 years?

CKhalvashi

steamers123 wrote: »

Hi, thanks for the reply.

Any other opinions/experiences on the recruitment fee being clawed back?

Would this be a deal breaker for you/should I avoid?

Thanks in advance for any responses

Ask an Easyjet pilot that question; they often have £85k of training debt when starting employment, then have to front another £20k for the TR.

A friend of mine in the left seat asked one of the new cadets how much debt they were in, to which the answer was 'about £100k'

Acc72

I would worry about this when you have been offered the job.


In the meantime, research the job and the company and try to get a feeling for the company and its culture during interview.


Generally speaking, having a clause to claw back training fees is normal - and is usually for a year or 2 after the training period, so in this respect the 3 years looks reasonable.


I have never heard of repaying recruitment fees - again, is this only in the first 3 years ? is there a sliding scale for each year etc. ?


If you don't know, then don't ask - again, you can read the contract carefully and decide from there at that stage.


To a certain extent, if this is the role that you want, the company look ok, and the training offered is good (as well as the salary) then I would be inclined to take it - unless you have other much better offers in the pipeline.


Accountants often leave their training company soon after qualifying, however relatively few leave of their own accord during the training contract (unless they are asked to leave for failing exams) and it is often looked down upon to do this.


Whatever job you get, I would look to commit to the initial training contract at least, work hard and learn as much as you can then. Then when you have qualified you can consider your options.