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Q: Big4 - Yearly salary increment

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  #701 (permalink)  
Old 26-02-2018, 07:07 PM
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Thanks all for the reply. Pertaining to your replies:

1) For distance learning degrees in PSB / Kaplan, honestly you stand a greater chance applying to mid-tier firms before hopping over to big4 after the 2year bond...
- Does all firms usually comes with bond?

2) Why is SIM not on your list?
- I do not hold an O level cert, highest education is private Diploma only so I can only go for private Degree.

3) Mid-tier usually pay 90% of big4... so expect a 10% paycut, if fresh grad in big4 earns $2850, you can expect 2500-2600 in mid-tier... same as the ranks go upwards...
- Are the median salary ranged around this for mid-tier firms these days?

4) I really think it is not worth it to go into mid tier firms here. Culture is bad, pay is bad, no recognition. Almost all of them have bonds for a reason.
- This is why I am trying to see what are the chances of a private degree holder getting into Big 4 but from what I have heard, it seems to be tough. In addition, does getting an internship with Big 4 do actually helps a little? Btw, I am currently working FT.

5) Lastly, I would like to ask the seniors that between Aus - CPA and UK - ACCA, which would be a better choice? Reason I am asking this is because Aus degree cost about 25K and UK degree cost about about 18K for double major. Difference is about 7K.

I have heard that people usually just proceed to take CPA after degree or take ACCA instead of degree only.

Is there any differences or what should I really take into consideration for the above? As I don't wish to pay for the extra 7K and ended up both cert is the same.

Hope to hear some advice from the seniors. Pardon me for the clueless knowledge as I zero background on all these.

Thank you for the time!



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  #702 (permalink)  
Old 26-02-2018, 08:15 PM
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agreed that audit and consulting roles are not comparable.

likewise, big4's consulting arm cannot be compared against full fledged consulting firm like BCG, Bain, McKinsey, Accenture...

are you an expat? i've known people in consulting side, getting 10-11k bracket 8 years into service... Manager level

whereas a big4 audit manager (entry M1) is getting S$6k++ M3 (8k++?) before promoting to SM, AD, D, Partner, etc.
I am a local Singaporean Chinese. I know myself and having worked for so long, I know I am not the caliber or having the Ivy league/top biz schools qualifications to get into MBB. As I am new to the Big4, I do not really know the details. But what I understood is the bracket is fairly wide.

As for expats in my firm, apparently they are on a different scale. They are paid in local terms (SGD) but their salaries are the equivalent to their home countries rates. So a manager from the US is paid the equivalent in SGD what they would get back home.

I spoke to one of my younger staff (2 years out of university) and he confirmed that audit grads are paid lower than consulting. Our starting salary is $3,500 but the same audit grad will be getting around $2.7k ~ $3.7k.

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  #703 (permalink)  
Old 26-02-2018, 09:38 PM
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worth or not, somebody has to fill the places there... there isn't enough places to go around in big4 anyway as much as all / most aspire to apply into it.

idk what you meant by doing well for psychometric test... it's a test to evaluate based on your personality... no point doing "well" if you are faking it... just "be yourself"... if you are suitable, you'll get it..

in any event, big4 is not everything... in fact, looking back in hindsight, i'm thankful i didn't join the big4...

my peer and i are doing way better than our batchmates who join the big4... we are 28, both males, prolly at best S2 or AM in big4.
---------------------------------------------------------------------------
what job u doing now, kind to share?

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  #704 (permalink)  
Old 27-02-2018, 10:26 AM
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Quote:
Originally Posted by Unregistered View Post
I am a local Singaporean Chinese. I know myself and having worked for so long, I know I am not the caliber or having the Ivy league/top biz schools qualifications to get into MBB. As I am new to the Big4, I do not really know the details. But what I understood is the bracket is fairly wide.

As for expats in my firm, apparently they are on a different scale. They are paid in local terms (SGD) but their salaries are the equivalent to their home countries rates. So a manager from the US is paid the equivalent in SGD what they would get back home.

I spoke to one of my younger staff (2 years out of university) and he confirmed that audit grads are paid lower than consulting. Our starting salary is $3,500 but the same audit grad will be getting around $2.7k ~ $3.7k.
It's understandable that Big 4 firms are willing to pay their external hires generously because of what they bring to the table, so a mere manager in consulting can get paid so much more than an audit manager. It's not exactly a fair comparison.
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  #705 (permalink)  
Old 27-02-2018, 01:58 PM
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Local uni grads don't need psychometric tests for admission.
I'm talking to the above poster who is asking about which private uni to attend, letting him know that private uni also can go in Big4 without any experience. And in regards to the psychometric test, only 2 Big4's have it, the other 2 don't.
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  #706 (permalink)  
Old 27-02-2018, 02:03 PM
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Quote:
Originally Posted by Unregistered View Post
worth or not, somebody has to fill the places there... there isn't enough places to go around in big4 anyway as much as all / most aspire to apply into it.

idk what you meant by doing well for psychometric test... it's a test to evaluate based on your personality... no point doing "well" if you are faking it... just "be yourself"... if you are suitable, you'll get it..

in any event, big4 is not everything... in fact, looking back in hindsight, i'm thankful i didn't join the big4...

my peer and i are doing way better than our batchmates who join the big4... we are 28, both males, prolly at best S2 or AM in big4.
Bro, psychometric test =/= personality test, 2 different things. Psychometric test consists of Verbal, numerical and logical tests which really stretches your ability to think fast.

And in regards to Big4, of course it isn't everything. Given the chance, I would much rather take an opportunity at a bank or MNC MA program. But it is still miles ahead of a mid tier firm.
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  #707 (permalink)  
Old 13-03-2018, 12:08 AM
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Anyone know about Big 4 the accounting department? Like not the usual audit or tax one! Like PWC the Corporate Support Services (Accounting & Bookkeeping)! Are the salaries and increments the same and will it be more relax in the way that no OT and just a standard 9-5 job?
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  #708 (permalink)  
Old 20-03-2018, 02:48 PM
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Hi, I was offered a Management Associate Position in Risk Assurance (Tech Audit) w/ one of the big four. Starting Pay 4k. At the same time, I was called up for 2nd round interview with Citibank's MA in Consumer banking sometime this week. The issue here is the one of the big 4 requires me to accept the offer by 23rd March. I am stuck in a dilemma and would like to hear your thoughts on this matter. Should I take up the offer or wait for Citibank's reply?

Additional Background
I am graduating from a local Uni this may, and my CGPA is at least in the top 30% of my cohort. Main Degree: IT

Looking for:
Career Progression & Experience in Finance / IT Industry

Much thanks, many gratitude
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  #709 (permalink)  
Old 20-03-2018, 03:45 PM
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Hi, I was offered a Management Associate Position in Risk Assurance (Tech Audit) w/ one of the big four. Starting Pay 4k. At the same time, I was called up for 2nd round interview with Citibank's MA in Consumer banking sometime this week. The issue here is the one of the big 4 requires me to accept the offer by 23rd March. I am stuck in a dilemma and would like to hear your thoughts on this matter. Should I take up the offer or wait for Citibank's reply?

Additional Background
I am graduating from a local Uni this may, and my CGPA is at least in the top 30% of my cohort. Main Degree: IT

Looking for:
Career Progression & Experience in Finance / IT Industry

Much thanks, many gratitude

I would suggest to go for the confirmed job first given the current market. Furthermore it is still big four and pay is reasonable. If you really dont like it, at least you have already gained some experiences and can move on after that. No point waiting for something that you are not sure unless you are sure that there will be other offers even if you flung the bank's job.

Cheers
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  #710 (permalink)  
Old 20-03-2018, 06:21 PM
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Quote:
Originally Posted by Unregistered View Post
Hi, I was offered a Management Associate Position in Risk Assurance (Tech Audit) w/ one of the big four. Starting Pay 4k. At the same time, I was called up for 2nd round interview with Citibank's MA in Consumer banking sometime this week. The issue here is the one of the big 4 requires me to accept the offer by 23rd March. I am stuck in a dilemma and would like to hear your thoughts on this matter. Should I take up the offer or wait for Citibank's reply?

Additional Background
I am graduating from a local Uni this may, and my CGPA is at least in the top 30% of my cohort. Main Degree: IT

Looking for:
Career Progression & Experience in Finance / IT Industry

Much thanks, many gratitude
You are free to accept the offer, then discard it when Citibank offers you.
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