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Last updated on 2024年5月15日

What do you do if your employer refuses to negotiate your salary or raise in Corporate Accounting?

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Navigating a salary negotiation can be a challenging aspect of your career in corporate accounting, especially when your employer is not open to discussing a raise. The situation can feel disheartening, but it's important to approach it with a strategic mindset. You might be wondering what steps to take if you find yourself in this predicament. There are several avenues you can explore to address your compensation concerns, and understanding your options is crucial.

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Penn M. Elvis, FCCA

Chartered Certified Accountant| Head of Finance | Business Transformation Lead | SAP S/4HANA FICO Certified
Imtiaz Ahmed

Accounts & Taxation | ICMA | MS Dynamics AX | Power BI | Financial Analysis

1 Assess Value

Evaluating your worth within the company is a critical first step. Take stock of your contributions, responsibilities, and the value you bring to your role in corporate accounting. This can include your expertise in financial reporting, mastery of accounting principles, and any additional responsibilities you've taken on. By quantifying your achievements and how they've positively impacted the company's bottom line, you'll have a solid foundation for understanding your market value and building a case for a salary review.

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Penn M. Elvis, FCCA

Chartered Certified Accountant| Head of Finance | Business Transformation Lead | SAP S/4HANA FICO Certified
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When Salary becomes a burning issue and the employer refuses a salary increase or even to negotiate, the output of the employee is negatively impacted because it will impact the employee psychologically. The employees will needs to evaluate the situation critically and if they feel that they cannot work under current conditions, they should resign immediately. However, if they opt to work under current conditions, regular discussions should be held with line manager about work load that’s commensurate to his current pay package. Also, they employee should make sure that their performance objectives equates to the level of salary being earned. They should be ready to work away if the manage insist on same work load.

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Imtiaz Ahmed

Accounts & Taxation | ICMA | MS Dynamics AX | Power BI | Financial Analysis
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if your efforts to negotiate a salary increase are consistently rebuffed and you feel that your contributions are not being adequately recognized or compensated, it may be time to consider seeking opportunities elsewhere where your skills and expertise are more valued.

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Aspiring EA | ?????? ???????????????????? & ???????????? ?????????????????? ?????????????????????? ???????????????????????? Working with Accounting firms Managing Bookkeeping, Payroll, Tax, and Compliance.
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Start by assessing your value within the company. Reflect on your contributions, expertise in financial reporting, and mastery of accounting principles. Quantify your achievements and how they've impacted the company's success. This forms a strong foundation for initiating a constructive dialogue on salary review.

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2 Explore Options

If direct negotiation for a raise is off the table, consider alternative compensation methods. You could discuss other forms of remuneration such as bonuses, additional vacation time, flexible working hours, or professional development opportunities. These benefits can sometimes be more achievable and can add significant value to your overall compensation package. Remember to approach these conversations with your employer with clear examples of your accomplishments and a rationale for why these alternatives are justified.

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Aspiring EA | ?????? ???????????????????? & ???????????? ?????????????????? ?????????????????????? ???????????????????????? Working with Accounting firms Managing Bookkeeping, Payroll, Tax, and Compliance.
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When direct negotiation isn't feasible, consider alternative avenues like bonuses, extra vacation time, flexible hours, or professional development opportunities. These perks can enhance your compensation package while acknowledging your contributions. Approach discussions with clear examples of achievements and a rationale for the proposed alternatives.

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3 Build Skills

In the face of a salary standstill, focus on enhancing your skill set. Pursue certifications like the Certified Public Accountant (CPA) or Chartered Financial Analyst (CFA) designation, which can increase your marketability and potentially lead to higher pay, either within your current organization or elsewhere. Also, staying abreast of industry trends and technological advancements in accounting software can make you an indispensable asset to your team.

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4 Network Internally

Strengthening internal relationships can be just as important as expanding your skill set. Networking within your company can uncover new opportunities for advancement or lateral moves that come with increased compensation. Attend company events, volunteer for cross-departmental projects, and make your career aspirations known to key decision-makers. These actions can increase your visibility and demonstrate your commitment to the company's success.

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5 Consider Market

Sometimes, the refusal to negotiate might be a reflection of the current job market or the company's financial status. Research industry salary trends for corporate accounting positions similar to yours. If you discover that your compensation is below market rates, this information can serve as leverage in future discussions. However, if the company is not performing well financially, it may be time to assess the stability and long-term prospects of your position.

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Aspiring EA | ?????? ???????????????????? & ???????????? ?????????????????? ?????????????????????? ???????????????????????? Working with Accounting firms Managing Bookkeeping, Payroll, Tax, and Compliance.
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Evaluate industry salary trends to see if your pay is competitive. If it's below market rates, you can use this information to negotiate for better pay in the future. On the other hand, if you're worried about the company's financial health, consider how stable and promising your role is for the long term.

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6 Plan Ahead

Finally, if all else fails, it may be necessary to plan an exit strategy. Update your resume, reach out to your professional network, and explore job openings that match your skill level and experience. While searching for a new job can be daunting, it's important to remember that your skills in corporate accounting are valuable and can lead to more fulfilling opportunities elsewhere.

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Aspiring EA | ?????? ???????????????????? & ???????????? ?????????????????? ?????????????????????? ???????????????????????? Working with Accounting firms Managing Bookkeeping, Payroll, Tax, and Compliance.
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If negotiations don't work out, it's smart to plan how to leave. Update your resume, ask people you know for help, and look for jobs that need your skills. Change can be scary, but your accounting skills can help you find new and satisfying work.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What do you do if your employer refuses to negotiate your salary or raise in Corporate Accounting?

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1 Assess Value

2 Explore Options

3 Build Skills

4 Network Internally

5 Consider Market

6 Plan Ahead

7 Here’s what else to consider

Corporate Accounting

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