Is this normal accountant role

burnoutbabe

and what if you fail the course and they sack you? would you still then have to repay the recruitment fee and the training?

No decent company asks you to repay recruitment fee.

persa

It's normal to have to repay training costs if leaving before qualification. I've never heard of anyone having to repay recruitment fees - that plus the lack of website suggests this is an incredibly tiny practice.

Not all firms do follow through with the clawback - it tends to depend on what terms you leave, whether you're going off to work for a rival, etc. However, I suspect a firm like this would (and they'd have the legal right to) enforce the clause.

How much relevant experience would you get from a tiny firm? The more you learn about accountancy as you progress, the more frustrated you might get. You may also meet other trainees at larger firms who tell you they're on several thousand more.

Would another firm pay your fees to this one if you were to join them? I don't think so. I've only heard of this happening in the Big 4, i.e. a move from one Big 4 firm to another. Moving during training contract is rare - there are lots of (genuine) reasons why no one likes it.

I'm not saying don't take the job, just that if you do, you must go into this with your eyes wide open.

amiehall

It is really normal to have an agreement to repay the training costs if you voluntarily leave. My contract is clear that I have to repay any costs incurred in the 12 months prior to when I give my notice so clearly that could last a fair bit longer than the 3 years depending on when exams are sat etc. If I'm sacked for exam fails though, no repayment is necessary but if it's gross misconduct, the arrangement stands. I would make sure I understand how being sacked affects the agreement to repay.

Considering how much the training fees are likely to be, you shouldn't really take this role unless you want to complete the 3 year training agreement. I think the recruitment fee will pale into insignificance compared to the tuition fees you would owe.

In terms of being in a small firm, I don't think I would be put off by that. I know quite a few people who have qualified at a small firm and moved to a top 10 firm but I would expect to have to complete my 3 year agreement before I looked into that.

WhereAmI?

I'm a trainee accountant with a small firm. My contract states I must repay the training fees if I leave before the contract ends. I don't see what the problem is with this though- why would you leave a job part way through a qualification? You'll struggle to get another training contract if they know you've left the last one on your own accord.

It's really nothing to worry about. Once you've qualified you'll have finished that contract, so will be free to move wherever you want.

If you get sacked because you failed a certain amount of exams then normally you don't need to repay the fees.

Check where the firm is in the Accountancy Age top 50+50 list. You may find them on it.

persa

I mention the size of the firm because the smaller ones often pay very little and give poor study packages - when trainees inevitably meet others from larger firms (not all training is segregated by firm) the resentment starts to fester. And you can't negotiate a pay increase - once you're on a training contract, you're essentially trapped for 3 years minimum. You need to make sure you're happy being trapped for that long before you sign!

I've seen people leave because they hated their firm, or they hated tax/audit/accountancy. Generally if you change career because you realise you hate accountancy, the training firm doesn't pursue (but it could). People who switch to another accountancy firm (rare, but it happens) generally always get asked to repay (but that's fair enough, you're staying in the same field and the other firm is getting the benefit).

I've never seen any pursued for fees for being sacked (exam failure) or made redundant (yes, it does happen, even at trainee level). Doesn't mean it won't ever happen - I really think a firm which is prepared to claw back recruitment fees is petty/poor enough to go after whatever it legally can. Just because it's unusual practice to reclaim in certain circumstances doesn't mean you should rely on it.

Not all accountancy training is equal. I've worked with some qualified accountants from some tiny firms who were frankly useless because they didn't get exposure to anything interesting during their training contract. I'm not saying this is limited to people from smaller practices, but it's important to consider what kind of work you'll be doing as part of the training contract. An interview is a two way street - ask about the industry of the clients, the size of the clients, what sort of work the firm does for them, etc. Some smaller firms may actually specialise in something hugely interesting, and gaining experience in that area could be worth the lower salary.

My point remains you need to consider a training contract very carefully.

directdebiter

Just to reiterate from previous posts study support is often provided but if you leave within a certian time frame it is is common to ask back the training fee's. But make sure you check what these are up front.

I have never ever heard about paying back a recruitment fee. This fee is for the agency based on finding a candidate and is irrelevant to the person who joins the firm. So I would check the fee and reject this.

Be intereested to know anyone who has come across this before.

lazer

It's common practice in accountancy, although a few people left during the first few months of their training contract in my work and we not made to repay it - firms have discretion over it, and if you are unhappy with your current role, unsure about accountancy etc. some are happy to waive the fee rather than have you work over 2 more years in a job you hate.


I left the day my training contract was up and have never looked back.


The chartered accountancy route opens up many options after training, and is a highly desirable qualification, but it is also hard work and you have to be committed.


Personally I would encourage you to join a small firm as you generally get a more rounded experience across different departments (Tax, Accounts, Audit etc) whereas in a big firm are generally in one department (eg: Audit) and often specialise in one industry (eg:Energy), so you experience when you come to move on is limited. In saying this, other companies seem to consider big 4 experience as being better than small firm experiences.


There is plus and minuses to both