Trainee Associate (Second Year on programme) Review

I feel that I am valued by my team members, however at a higher level (i.e. senior management), that is not reflected well in the remuneration structure of the programme thus far. I am currently performing a role exceeding that of a 2nd year graduate who gets paid circa £5k more than me per annum. Although the program is marketed as a non-conventional route in to a large organisation in which if you are good at your job you will be allowed to develop very quickly, this is not reflected in the remuneration structure. I am deeply concerned that I will be on a salary which works out below the minimum hourly wage rate when considering the number of hours worked for the next two years, whilst my graduate counterparts are paid a higher wage for performing a smaller quantity of tasks. Coupled with this is the rising cost of living which further more adds to my concern. Unfortunately, once could perceive the programme as a cost cutting measure rather than respecting the development of young talented school leavers who have decided to take the non conventional route into the professional services industry. From a day to day basis, I definitely feel that my senior team members I work directly with value me and feel that I am a good addition to the team. In addition to this, all senior members I speak to seem positive about the programme.

I find the training provider for the professional qualification excellent.

Some people are still unaware of the proramme and do not take the time to explain things in the detail required to perform a good job. My counselling support is excellent in providing among other things, morale support, good progress updates and ensuring I know the year end review process very well.

I am currently performing a role exceeding that of a 2nd year graduate who gets paid circa £5k more than me per annum. Although the program is marketed as a non-conventional route in to a large organisation in which if you are good at your job you will be allowed to develop very quickly, this is not reflected in the remuneration structure. I am deeply concerned that I will be on a salary which works out below the minimum hourly wage rate when considering the number of hours worked for the next two years, whilst my graduate counterparts are paid a higher wage for performing a smaller quantity of tasks. Coupled with this is the rising cost of living which further more adds to my concern. Unfortunately, one could perceive the programme as a cost cutting measure rather than respecting the development of young talented school leavers who have decided to take the non conventional route into the professional services industry. Personally, I do not perceive this programme as a cost cutting measure as I have gained a professional qualification, learnt vast amounts about the accounting industry and am now confident at dealing with clients. But one must consider the stark reality of the following: After the cost of rent in London (£700 per month - this is a rough estimate, rents have risen in London to exorbitant levels over the past few years), food costs (circa £250 per month), travel costs (circa £200 per month), bills (£100 per month) and general amenity costs (£150 per month) I am left with little head room. This does not even include any social costs. I believe that the salary should me more aligned with that of graduates after 2 years of completing the programme as the role exceeds that of a first year graduate by the time you reach that stage of the programme and you have also obtained a professional qualification. Unfortunately, we have no certainty over the payment structure for the remainder of the programme.

There is exceptional opportunities to participate in CSR days, give presentations to other schools etc. In addition to this there are many EY networks which one can join.

Yes

EY is a multinational organisation which will expose you to many clients. From private equity backed companies to listed to giants to high growth SMEs. The vast array of experience I have gained since joining in 2012 has enabled me to become confident in a professional services environment. In addition to this, with the people I work with on a day to day basis, there is a culture of friendliness, meritocracy and development. The friendly culture that EY employees evoke enables you to carry out work without the fear of not having anybody to refer to in times of difficulty, this is essential for a school leaver as it can be daunting joining EY straight from school. One must also consider the professional qualification, Chartered Accountancy. It is a rigorous process, however the prestige and security attached to it makes it one of the most desirable professions for Finance students to take. Upon qualifying, the world really is your oyster with many opportunities available to you in EY and also in industry. Finally, I believe the experience you gain in EY with exposure to clients enables you to understand a specific business from every aspect. This is invaluable when it comes to progressing further in a finance environment.

- It is very hard work, be prepared to make sacrifices (e.g. working outside of 9-5, studying for the chartered accountancy exams) - Ensure that basic numerical and qualitative skills are up to scratch - Do sufficient research of the relevant departments (Audit FS, Audit, Tax, Restructuring etc) before deciding on a specific department. The workload and nature of work varies hugely from department to department.