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Salary Advice

Posted on 9/21/11 at 10:05 am
Posted by TRUSAINT21
Bourg, La
Member since Dec 2007
91 posts
Posted on 9/21/11 at 10:05 am
I want to get an objective view of what salary some of you experienced guys in the industry believe I should be making given the below job responsibilities.

Since starting work in June after graduating this past May in Accounting, I have completely reorganized the financial reporting of the 4 departments of the company. Before they had OH costs in the Job Cost sections and vice versa. I make the calls on where charges are expensed (which departments), I decide additions to the asset list, I perform the monthly closings, I perform job cost analysis and have since implemented the job cost module in the accounting software, I perform analysis and advise management on actions to be taken to reduce cost, I manage the purchasing agent on a day to day basis (answering any questions, advising him on actions to take to cut costs), I research investment ideas the owners have for their personal benefit, I do AP, manage the secretary that performs AR, etc. I work with only the owners above me in the chain of command. My main role is to see what needs to be done and do it. Before I was hired, they had no system or anything in place for consistent and accurate reporting. Since my reorganization of the financials, we have pinpointed our less than stellar performing areas and are taking actions to improve those areas.
I do not have my CPA license YET. I plan on beginning the studying process in Jan 2012.

Among those job duties, I am also their HS&E Director (I have 3 1/2 years marine industry safety experience and 2 years QA experience from the military). I handle all safety processes / systems, day to day decisions, review master service agreements between us and clients, develop policies / procedures, etc.

I would like to get an approximate on what you guys think I should be getting paid.

The company is based in Houma, La. 65 total employees. Oil field services industry
Posted by lnomm34
Louisiana
Member since Oct 2009
12702 posts
Posted on 9/21/11 at 10:09 am to
I'd say about a zillion dollars, but it could be within 10% either way.
Posted by Azazello
Member since Sep 2011
3228 posts
Posted on 9/21/11 at 10:20 am to
This is impossible to judge without having anything for comparison.

Posted by TRUSAINT21
Bourg, La
Member since Dec 2007
91 posts
Posted on 9/21/11 at 10:37 am to
What would you need for comparison?
Posted by barry
Location, Location, Location
Member since Aug 2006
51327 posts
Posted on 9/21/11 at 10:41 am to
Granted it sounds like you've done a lot, I'd just wait till your yearly review to talk to them about salary increases, if this is what you are getting at.
Posted by pnut53088
New Orleans
Member since Jan 2009
2319 posts
Posted on 9/21/11 at 11:00 am to
Well what's your salary? You're trying to make it sound like you're worth more than what you're getting paid.
Posted by TRUSAINT21
Bourg, La
Member since Dec 2007
91 posts
Posted on 9/21/11 at 11:02 am to
I just wanted a "benchmark" from someone else in this industry so I can judge, and yes I will use this info during my review.

I just wanted people to look at what they do and their salary and compare it to my responsibilities...kind of a guesstimation.
Posted by TRUSAINT21
Bourg, La
Member since Dec 2007
91 posts
Posted on 9/21/11 at 11:09 am to
50K
Posted by kfizzle85
Member since Dec 2005
22022 posts
Posted on 9/21/11 at 11:11 am to
Size of company is probably going to undervalue your contributions from a salary perspective. eta: You should be making more than 50k though.
This post was edited on 9/21/11 at 11:12 am
Posted by TRUSAINT21
Bourg, La
Member since Dec 2007
91 posts
Posted on 9/21/11 at 11:16 am to
Well, I agree due to just the fact that the last purchasing agent was getting paid 65 K. When he quit, I was tasked with filling in for him until I found him a replacement with some savings. I found a guy for 40 K, and now I oversee his work...I thought I should be making more, I just didn't know how much. I definitely don't think I'm worth a million, I just wanted to get a guage.
Posted by kfizzle85
Member since Dec 2005
22022 posts
Posted on 9/21/11 at 11:32 am to
I mean it sounds like you are running the financial side of the business altogether. If you're working like 60 hours a week and overseeing 4 or 5 different people, I'd expect a pretty substantial salary bump and some kind of bonus. If you don't think they'll give you that, I'd start looking at their competition.
Posted by Sheep
Neither here nor there
Member since Jun 2007
19695 posts
Posted on 9/21/11 at 11:58 am to
quote:

I found a guy for 40 K, and now I oversee his work...


AND

quote:

I manage the purchasing agent on a day to day basis (answering any questions, advising him on actions to take to cut costs)


You pay a guy 40K that isn't 100% self-sufficient?

frick that noise.
Posted by LSUAfro
Baton Rouge
Member since Aug 2005
12775 posts
Posted on 9/21/11 at 12:13 pm to
quote:

You pay a guy 40K that isn't 100% self-sufficient?


It's called management buddy. People don't step in to companies being all knowing.
Posted by LSUAfro
Baton Rouge
Member since Aug 2005
12775 posts
Posted on 9/21/11 at 12:17 pm to
Who audits your financials? I find it a bit strange that a company with more than 60 employees hasn't been required to have audited f/s by somebody at some point. If the company has been recently audited, how in the hell were these errors going without notice for so long?
This post was edited on 9/21/11 at 12:18 pm
Posted by yellowfin
Coastal Bar
Member since May 2006
98753 posts
Posted on 9/21/11 at 12:39 pm to
I'd say about 75k


quote:

I find it a bit strange that a company with more than 60 employees hasn't been required to have audited f/s by somebody at some point.


probably no debt
This post was edited on 9/21/11 at 12:40 pm
Posted by TRUSAINT21
Bourg, La
Member since Dec 2007
91 posts
Posted on 9/21/11 at 12:55 pm to
quote:

Who audits your financials? I find it a bit strange that a company with more than 60 employees hasn't been required to have audited f/s by somebody at some point. If the company has been recently audited, how in the hell were these errors going without notice for so long?


The only thing a 3rd party CPA firm has done for the company was provide monthly closings and compilations. The CPA firm did not offer suggestions, didn't spend a lot of time advising...they only answered questions that were asked to them

The owners of this company both started and grew their own companies to sell for $60 and $88 million - harldy any debt. They self financed a large portion of the assets.
This post was edited on 9/21/11 at 12:56 pm
Posted by Tigerstudent08
Lakeview
Member since Apr 2007
5776 posts
Posted on 9/21/11 at 12:56 pm to
I work for an Oilfield Service company with about 500 employees and I would think we would pay you around $65k-$75k.
Posted by LSUAfro
Baton Rouge
Member since Aug 2005
12775 posts
Posted on 9/21/11 at 12:56 pm to
quote:

probably no debt


Yeah it's possible to not have ever needed audited f/s, but definitely not the norm. A company with that many employees usually has at least a line of credit with a bank and would be asked to provide them more than likely.
Posted by TRUSAINT21
Bourg, La
Member since Dec 2007
91 posts
Posted on 9/21/11 at 12:58 pm to
quote:

You pay a guy 40K that isn't 100% self-sufficient?


In the oil field, I dont see 40K as being a salary for someone 100% self sufficient. My last job - starting pay for no experience in operations as a coordinator 50k...I guess it's the nature of the beast.
Posted by LSUAfro
Baton Rouge
Member since Aug 2005
12775 posts
Posted on 9/21/11 at 12:59 pm to
quote:

The owners of this company both started and grew their own companies to sell for $60 and $88 million - harldy any debt. They self financed a large portion of the assets.


ahh...now I see.

Well with that in mind...I'd inch closer to that 1 year mark and inquire about a raise at that point. Due to your lack of experience it's unlikely anybody is going to hire you for more than 60k IMO.

What you're worth and what you get paid or can get paid are not always one in the same especially in the beginning stages of your career.
This post was edited on 9/21/11 at 1:04 pm
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