Need help getting my career started
That said, I don't have any experience and my GPA is 2.57, so that's going to hurt me while going for an entry level position. Nevertheless, I am working with Robert Half and Accountemps; I seem to have little trouble getting my foot in the door through temp positions. I've has two temp positions; unfortunately, they have lasted five days. Combined. One lasted three and the other lasted two. So I still don't have much experience to speak of. But it seems a lot easier for me to be hired through a temping agency, and I do need the experience. Perhaps the next position will last 2-3 months and not 2-3 days.
My biggest worry about the agencies is middle man effect. I made $12.50/hour at my last position, knowing very well that Accountemps was getting paid maybe $17/hour. That's how they make a profit.
Put another way: how much to you suppose Accountemps was actually getting paid while I was working for $12.50/hour? And once I get moved from the Accountemps payroll to the company's payroll, will I now get all of that money? If the company was paying Accountemps $17/hour, would they also pay me $17/hour upon hiring me? Or would they just split the difference?
Similar question when it comes to a straight-hire position. How much and for how long will the middle man affect my salary? And does anyone have any other advice?
Thanks a bunch.
Do not want to sound harsh, but, for an accountant you don't seem to have a clue when it comes to payroll/taxes and everything else an accountant should know about the business world.
If you are working for a temp agency they are required to pay Fica/Med taxes, unemployment taxes, workmans comp insurance etc. for all of their employees of which you are one. If they pay you 12.50 per hour it costs them about $3.75 per hour more to cover all the employer taxes and overhead costs of hiring you. So, no you can't expect to get $17 an hour from the client if you go to work for them permanently. It is only slightly more expensive for an employer to go through a temp agency than to pick up all those added costs themselves. Temp agencies make it easy for an employer to hire someone for a short period of time and not get hit with higher unemployment comp rates when they have to let them go.
Rule of thumb figure it costs your employer and additional 30 percent to cover employer taxes, insurance and employee benefits. So, they pay you $10 an hour - it really costs them $13 per hour.
As for some suggestions to improve your marketability it would help if you had a working knowledge of an accounting software package such as Quickbooks - that way you could do some basic bookkeeping and familiarize yourself with Accounts Receivable, Accounts Payable, Payroll, payroll taxes, sales tax, cost accounting , how to treat capital purchases, when to expense items etc. etc. etc.
The great thing about QuickBooks is that the majority of small businesses use this software including many non profit organizations such as churches. Non profit organizations are always looking for volunteers and you might be able to volunteer to assist the treasurer of the organization. That way you have a mentor to show you how to use the software and they have a backup person trained to help the treasurer. WIN - WIN.
Mary
Please don't offer "help" if you are going to toss insults in the process. And don't act like "you don't seem to have a clue" is not an insult. It is. You could have said that a dozen different ways without coming across as condescending. In fact, you could have just eliminated your first paragraph and your post would have been just as productive.
Thanks for the rest of the post.
JKlui01,
Sorry, did not mean to upset you. Your question would be something I would expect from someone who did not have an accounting background - I was just a bit surprised that you were not familiar with any of the additional costs an employer pays over and above what the employee gets paid. Adding roughly 30% to the hourly rate paid an employee to estimate the employer's actual out of pocket costs is a general guideline I would have expected would have been taught in some of your accounting classes.
So, I guess the next question I should ask is in what area of accounting did you specialize? Cost accounting? Taxation? Auditing? In what specific area of accounting are you trying to land a job? Do you have any experience using accounting software? Have you done any bookkeeping using a software program?
Give me a little more information on the specific accounting area where you want to work and perhaps I can give you more productive feedback.
Mary