Is my boss a monster?

[Numbers12345]

I've been working as an accountant for a medium sized company (approx 100 staff) for nearly a year (previously I was in a firm of accountants dealing with national firms but needed a change). AIBU to think my boss is a monster? He constantly tells all the staff how tough it is, always rejects pay increase requests (prefers they leave if they don't like it), has a very high turnover of staff esp managers, pays just above min wage or on min wage for non-salary staff, his budgets for everything are so tight, very rarely rewards or treats manager or general staff. However, the business is incredibly successful, has a very good reputation regionally both with customers and other businesses but is notoriously a low payer in the trade. My issue is he spends every single penny (I know, I can see his spending) on his lifestyle and leaves nothing for any contingencies. He borrows ALOT against the business and I know from previous experience if anything goes wrong he could become unstuck very quickly. I want to leave as the stress is becoming so intense but DH says it's quite normal to run a business like this.

I'd bail out before it all comes crashing down, myself.

Plenty of business do exist more by sheer luck than judgement - but then they don't and the first anybody knows about it is when the wages don't go in at the end of the month.

I am an accountant and have worked in many owner-managed businesses in the past.

The final one was when the owner bought a house in Spain and used almost all our cash after I’d bust a gut to clear our debtor book (some really tricky ones in there too) and got us in a really decent position.

I’ll never work for another owner managed business again.

I think your DH is right in that there are lots of business owners who ARE like this, but there are lots who aren’t.

I won’t interview unless the accounts show good cash reserves.

I agree with @Merryoldgoat. I'm an accountant too and have had too many sleepless nights worrying about cashflow. I'd never do it now - too old for that shit. I'd find something else.

@Merryoldgoat is this model the norm? I've spoken to old colleagues and it feels like in the last 10 years this is increasingly common? How willing are firms to show me their accounts before I agree an employment contract?

I’d say no not a monster. He’s following a business plan that works for him (for now) as you say has a good reputation and from the sounds of it has plenty of business. He doesn’t have to pay well and you don’t have to work there. It could bite him the ass some day, of course… or it could continue to be successful.

Just look on Companies House? That's what I always do.

I don’t want to be an arse but you’re an accountant and don’t know you can access company accounts for free?

@Casilero

I have just hired a new assistant accountant and interviewed 5 people. Not one looked at the accounts on line. I found it baffling.

Doesn't matter how normal or not it is, it's far from ideal for you as an employee so, absolutely, get job hunting.

@Merryoldgoat Crikey! I'm old so I remember having to go to the library in Leeds to buy accounts before an interview. Before you could just literally spend 30 seconds and have a full set of accounts, charges, director changes etc. Even my boyfriend knows how to do it now and he's a mechanic!

It doesn't matter if some or most companies are run like this. You don't want to work for one run like this, so find a different one.

My first employer set up a weekly (unpaid) 8.30am meeting to whinge at us about how the company wasn't profitable, we weren't working hard enough or managing jobs carefully enough.

It was a building firm, and there was no profit on the books because they sent whole teams to their house on overtime building their extension for no fee. Their profit was a luxury home refurb!

But you can find better, and it's never worth burning your heart out over a job.