How much to ask for being a company secretary

[FnG]magnolia · 30 Oct 2015 at 08:38

Overclockers UK Forums > Life > General Discussion > Financial Controller requesting advice on how finances work

Take the Haribo option

DanielMMS · 30 Oct 2015 at 09:14

I'm assuming private limited trading company that has fairly limited CoSec requirements (although the CoSec of a small company may be providing services beyond the standard remit) but you can employ a third party service provider to cover the function for £500 - £750. So charging thousands would be rather over the odds. Of course, if you are working for a plc then the requirements put the role into a completely different ball park.

WillyNelson · 30 Oct 2015 at 09:25

I suspect, if your boss is suggesting you free up your capacity by delegating current responsibilities under your FC role, that they'll expect you to take on CoSec responsibilities for no additional remuneration.

When was your last pay review / when is your next one due? If the outgoing guy was getting £2-3k pa and you're not going to be doing more than he was you'd be hard pressed to expect more than about £1-2k extra.

Greebo · 30 Oct 2015 at 09:34

Yeah pretty much hit the nail on he head I suspect.

With my hours been freed up to the role, there will be no extra time involved. Current CS spends 25 to 40 hours a month doing the job.

My last pay review was two months ago and got awarded a 12.5% payrise so perhaps i should just take it on and leave it until next years pay review.

WillyNelson · 30 Oct 2015 at 09:39

Yea, I think you'd be considered cheeky to ask for more £££.

Avenged7Fold · 30 Oct 2015 at 10:56

^

Yep

Don't take on that self entitled attitude to work, wont get you anywhere. save it for the next review

Rids · 30 Oct 2015 at 11:01

I don't think it'll hurt to ask the question.

Also have you considered if this is something you actually want to take on?

Its a big change from your current FC role - if this is something you think you'll enjoy and will help you develop in areas that will help you in later working life then fair play don't worry about more pay. Conversely if you're happy doing the FC thing and this is something you really don't fancy, I'd be asking them to pay me to do it.

helpimcrap · 30 Oct 2015 at 11:02

£10 an hour? Must be including London Weighting as I've never earned that! lol

Avenged7Fold · 30 Oct 2015 at 11:03

If it is something he doesnt want to do prior to taking it on, then money isnt going to make the additional work any easier. The extra pay is unlikely but if there is anything, it wont be a game changer.

What tax bracket are you in OP?

helpimcrap said:
£10 an hour? Must be including London Weighting as I've never earned that! lol

Sounds right if not modest pay for a sec in London but it also wont get you very far in London/Surrey.

Greebo · 30 Oct 2015 at 11:21

Rids said:
I don't think it'll hurt to ask the question.

Also have you considered if this is something you actually want to take on?

Its a big change from your current FC role - if this is something you think you'll enjoy and will help you develop in areas that will help you in later working life then fair play don't worry about more pay. Conversely if you're happy doing the FC thing and this is something you really don't fancy, I'd be asking them to pay me to do it.

To be fair, quite a lot of the CS role overlaps the FC role anyway. I attend all the board meetings as it is and some of the director's meetings.

Its not a full job change, its take on the CS role in addition to my FC role and dump some of my existing workload.

Greebo · 30 Oct 2015 at 11:22

helpimcrap said:
£10 an hour? Must be including London Weighting as I've never earned that! lol

Meh, I was earning £15 an hour stuffing mailshots into envelopes and imputting feedback cards onto a VDU in London in 1987.

I thought everybody got paid a bomb in London even for doing menial tasks?

Greebo · 30 Oct 2015 at 11:24

Avenged7Fold said:
If it is something he doesnt want to do prior to taking it on, then money isnt going to make the additional work any easier. The extra pay is unlikely but if there is anything, it wont be a game changer.

What tax bracket are you in OP?

Well into the 40% but not into the 45% bracket (yet)

Confused · 30 Oct 2015 at 11:27

dowie said:
bout 350

If you're going to try to be funny, at least do it right.

Hades · 30 Oct 2015 at 11:42

Is part of the role of the company secretary to sleep with the boss? That would probably affect salary expectations.

Gammawolf · 30 Oct 2015 at 13:35

Greebo said:
Well into the 40% but not into the 45% bracket (yet)

Maybe I'm missing a joke here but if I were even contemplating a £150k a year salary, taking on company secretary roles, of which the previous guy was paid £10 an hour seems a of a ludicrous choice?

Avenged7Fold · 30 Oct 2015 at 13:44

Given the bracket you are in, i am doubtful of additional pay.

balky12 · 30 Oct 2015 at 13:46

How have you reached your position if you can't make decisions by yourself nor value your own time and efforts?

dowie · 30 Oct 2015 at 13:49

Confused said:
If you're going to try to be funny, at least do it right.

sorry who appointed you the meme nazi?

Greebo · 30 Oct 2015 at 13:52

balky12 said:
How have you reached your position if you can't make decisions by yourself nor value your own time and efforts?

No harm in asking for advice

Greebo · 30 Oct 2015 at 13:55

Gammawolf said:
Maybe I'm missing a joke here but if I were even contemplating a £150k a year salary, taking on company secretary roles, of which the previous guy was paid £10 an hour seems a of a ludicrous choice?

45% starts at £100k actually (well its effective tax rate is worse that that anyway).

And weird situation with the old guy. He started 22 years ago when the company had zero employees apart from the founder. Its now a SME and the job role has probably outgrown him along with him getting older.

No idea how long they have been paying him £10 an hour either but clearly you wouldn't get somebody to replace him in that job role for £10 and hour today.