Seeking Career Advice in Finance
Hi everyone, I hope I’m posting in the right place! I’m reaching out because I could really use some guidance from those experienced in the finance field. My background is somewhat unique, and my family isn’t involved in finance, so I’m feeling a bit lost.
I currently work for a non-profit organization that oversees a specific segment of the fashion industry in the UK, although our work has a global reach (unfortunately, I can’t share too many details). I am one of the original staff members and have grown alongside the organization, serving as the primary finance contact. While I’ve had finance managers come and go, I’ve remained the sole finance employee under them.
A bit about my background: I have eight years of work experience, along with AAT Levels 2, 3, and 4, a degree in Accounting and business management, and a Level 6 qualification in global finance. I’m also part-qualified in CIMA, with just one level left to complete. I’m in my mid-twenties and managed to balance having my first child while at university, working hard to juggle both personal and professional responsibilities.
In my role as a finance assistant, I handle a variety of tasks, but my manager focuses on the more critical functions and delegates much of the day-to-day work to me. They are also in the process of launching a new company for which they want me to manage the financial operations.
The issue I’m facing is that everyone at my level or above earns £40,000 or more, and I’ve recently been offered a promotion from assistant to coordinator, along with a salary increase from £32,000 to £36,000. However, I feel this is still below my market value; several recruiters have indicated that I should be earning around £40,000 or more.
I’ve expressed my disappointment to my manager via email, and we have a meeting scheduled for tomorrow to discuss this further. I’m seeking your feedback: are my expectations regarding my experience and qualifications reasonable? I feel disheartened seeing others with less experience and fewer qualifications earning more. Additionally, it seems there’s a perception that I should be grateful for the offer simply because I’m a young mother, which doesn’t fully represent my capabilities.
I would greatly appreciate any advice or thoughts on whether I’m being unreasonable or if my self-assessment is justified. I just want to go into the meeting prepared and confident in my negotiation.
Thank you in advance for your help!
One response
It sounds like you’re in a challenging position, and it’s completely understandable to seek advice regarding your career progression and salary concerns, especially given your qualifications and experience. Here are some thoughts to consider for your meeting:
Recognize Your Value: Based on your extensive experience and qualifications, including your AAT and CIMA progress, you are justified in expecting a salary that reflects your contributions. The responsibilities you’ve taken on as the primary finance contact and your involvement in setting up a new company amplify your value.
Market Research: You mentioned that recruiters have indicated your market value is around £40k+. Use this data to support your case in discussions with your manager. If you have specific examples or reports from salary surveys, this can provide additional backing for your request.
Prepare for the Meeting: Outline your achievements, contributions, and the increased responsibilities you’ve taken on, particularly with the potential new company. Highlight how your work has positively impacted the organization, both in terms of finance management and overall operations.
Discuss Career Goals: Make it clear that you have aspirations for a finance manager role. Suggest that your promotion to coordinator should ideally align with a path towards that goal, which would further justify a higher salary.
Negotiate Confidence: When discussing salary, be assertive yet professional. Express your appreciation for the promotion but articulate that you believe the new salary doesn’t accurately reflect your contributions and market value.
Address Perceptions: If you feel you’re being underestimated due to your personal circumstances, it might be worth addressing this subtly. Emphasize that your experiences, including managing work and family, have equipped you with strong skills in time management and resilience, which are valuable in any workplace.
Be Open to Feedback: While you should advocate for yourself, be open to listening to your manager’s perspective. They may have insights into budget constraints or organizational policies that you may not be aware of.
Consider Alternatives if Necessary: If the outcome isn’t what you hope for, consider what would make you feel valued, whether that’s more responsibilities, professional development opportunities, or a structured plan for future salary reviews.
Follow Up: Regardless of the meeting outcome, ensure to ask for a clearer pathway to achieving your desired salary and role within the organization. This shows your commitment and willingness to grow.
You have worked hard to get where you are, and your skills should be compensated fairly. Advocate for yourself and stay positive about your career trajectory! Good luck with your meeting!