What is the salary progression as an Associate at EY?

[justjoinedEY]

Manchester, Uk
Service line: turnaround and restructuring
Currently: first year

In my second year, provided I pass all my exams, will my salary increase and if so, by how much?
In my third year, same question

I know when I become chartered I can get paid at least 47k at EY

Ask a colleague. I’m a few years ahead of you so a bit out of touch now, and in a different specialism, but your best bet will be to ask someone in the year above you - I happily share my salary progression with my colleagues.

Glass door might also be more helpful than here as it is a niche crowd that can answer.

(I trained in audit and the salary increase was 10-15% per year then 30% on becoming chartered).

Wouldn't asking my colleagues make me look bad i.e. money obsessed?

is there another way i can find out ?

I wouldn’t ask colleagues, as salaries are usually confidential.

I’m FCA in practice but different discipline (and way too old to know about associates salaries) . Are there any advertised positions? Check the salary ranges being offered,

You don’t have to ask colleagues - you can ask your lime manager. No line manager at EY is going to judge anyone there for wanting to know about money! I’m surprised you didn’t ask before you accepted the job.

I wouldn't ask managers etc (although I think in your year end conversation you could reasonably ask what salary progression looks like, i.e. asking if you get an annual increase, what might it be is a reasonably question), but in a training contract amongst your peer group of other trainees I think it is totally reasonable, particularly as you will all be getting exactly the same in most cases so it's not contentious at all.

Also, it's not money obsessed. If anybody thinks you go to work for anything other than the salary, they're deluded. I bet there's not many people working in restructuring on a voluntary basis...

I just feel very disappointed that some STEM secondary teachers i.e. this maths teacher I know get paid more than me at EY

Teaching has always been known as a low-paid career but the STEM ones get paid quite well...
my STEM teaching friend got 29k tax free when training
then he went to work an inner city London school and got 34k as a newly qualified teacher...

if i knew this, then I would have become a maths teacher lmao

Why, they won’t be on 47k when you are. You aren’t paying for your exams, ey are. The maths teacher paid fees out of that 29k to train. No shortage of jobs for maths teachers but I certainly wouldn’t be doing it for the money….

Go and be a maths teacher then?

Big4 is long hours for little reward until you reach senior manager, or exit to industry. I’m surprised you didn’t research this before joining.

Your salary over your career(if you do well) will be vastly more than a maths teacher.

“if i knew this, then I would have become a maths teacher lmao”

OK, I take back my comment about speaking to your line manager. I’d fly under the radar if I were you, in case they question whether they want to progress someone to second year who put so little thought into taking the job! 🤣

I only took the job bc no other finance industry wanted to employ me...I graduated during Liz Truss's fucking of the pension industry

I was originally employed at GAM, then they went bust thanks to Liz Truss's shitty economic policy and I had to take EY

Ask your line manager/people lead or HR. EY are historically secretive on salary but the other 3 are moving to transparency so it can’t hurt to ask.

You can expect reasonable jumps - Manager will be around the 90k so if you divide the increases between the grades you won’t be too far off.

You’re only really likely to progress if you want to though. If you despise and resent it as much as you appear to from your posts then it will be apparent in your work.

How can I exit into the industry as a restructuring consultant?

You've got 2 threads going on at the same time about EY.
I'm an accountant but don't work for big 4. The salaries sound great but when you take into account all the extra hours you're expected to do etc then they don't work out so good.

With regard to your maths teacher comment, your earning potential is much higher. Within ten years of graduating I now earn £100k+ at Big4, with potential for further promotion in next 3-5 years. I wouldn’t have earned that as a teacher…

You have started a million threads on EY and tbh, if I was your manager I would be concerned at your lack of knowledge of the industry.

Do you not speak to your colleagues or have a mentor? These are the places to find out information.

Your posts come across as though you think you’re ‘better’ than EY and that will come across at work if that’s your attitude, and you won’t get the promotions you want.

Be grateful for the opportunity, get stuck in, befriend colleagues, get a mentor, speak to other service lines, do a good job and you’ll get the knowledge and rewards.

Poor recruitment decision then as you don't seem to have researched at all. Assuming real, why ask on Mumsnet of all places? Just google rather than ask us mummies. Put your big boy pants on

Love the idea that people think doctors are overpaid…

Please don’t become a maths teacher. Teaching needs committed people, or it would do if only the government would get its head out of its areas and start engaging with the profession. Working double the hours you’re paid for is usual in teaching too.

I work in industry and have had contact with consultants repeatedly in that time.
Mostly KPMG, but also EY and PWC.
Some of them have been amazing. Absolutely amazing, great knowledge, great knowledge, great leadership.
But I can tell you now, there’s a widespread feeling in industry that these firms are full of arrogant types who actually aren’t very smart.

I started at £8500 in a medium-sized firm in Manchester. Our increases were £500 each year.
It will probably be a similar percentage.

You have two threads going on about EY, there can't be too many 1st years who have been moved from London to Manchester and you haven't been very complimentary about your employer and the fact that they are a last resort for you. It's all very identifying, I wonder if you'll still have a job next week let alone be concerned about the salary progression.

Especially one unable to read salary scales and consider beyond the next two years.

Four threads... FOUR!
Honestly OP these are the sort of questions you should be asking your colleagues, not an anonymous parenting forum where people know jack shit.

Looking at your other posts you think the world of work is like an exam - if you write the correct answer you will get top marks. But that's not how it works.

The only people who can answer your questions are your colleagues. Make friends with peers, HR, more senior people, have an informal chat with them. Of course don't go interrogating them.

If this is beyond you then you won't survive for long in the world of work. Sorry to say. I am not sure whether you have any communication difficulties but you come across quite childish, unsure of how the world works.

I'm on a good salary (£65k) and have been a qualified accountant for 20+ years.
I love my job, and the people. As it happens I run schools finance these days.

There will be folk on £100k+ in this profession, but it is not the default, OP.