Q: Big4 - Yearly salary increment

Originally Posted by Unregistered

Back in my day… 90% of accountancy graduates started out in big 4… 90% gave up halfway and went to industry as APAR / Fund / Financial Accountants or some sorts but the remaining 10% who were mentally strong to persevere became partners. Most of the partners I know are currently making serious money here (average 400-600k all in per annum). Those who left earlier only making around 200k per annum. Difference in pay is 2-3x more…

Stay woke salaryman, be a business owner rather than an employee…

Nah, even officer in sme getting 700k plus usd bonus pa. U must do more oil and gas industry.

Even normal operators is getting 200k already in oil gas industry...

Originally Posted by Unregistered

I was born in Malaysia and have been working in Singapore for many years.

I have just obtained my PA license.

The question now is whether I should be leveraged by other audit firm to sign off on those high-risk cases as signing partner?

Or if I start my own audit firm and leverage the younger people?

Do whstever u want. Get 9 year old kid do vouching for u also can. No need brain.

Originally Posted by Unregistered

Anyone in your 40s thought you can shake leg when you reach high level position?

But end up no young people in 20s want to join you.

End up you have to do more work yourself?

40s don’t have this problem.

But 30s have, cause we are sandwiched batch

Originally Posted by Unregistered

Nah, even officer in sme getting 700k plus usd bonus pa. U must do more oil and gas industry.

Even normal operators is getting 200k already in oil gas industry...

jesus, O&G sure is lucrative. wish i had audited O&G clients instead since they seem to hire only experienced people.

I'm 35

I'm born in 1989

What are the people in 20s who resigned during peak period trying to prove?

To prove that the audit firm will go haywire after they resigned?

Originally Posted by Unregistered

*just come in to chit-chat, dun scold me pls*
Recently a lot of changes at ISCA so somehow Google brings me here. I was a very avrg student in the AAA batch, so ya im from old folks home. I missed the transitional arrangement batch by 1 year, so that makes me the 1st batch of elderly to need take SQP for ca sg. I was lost but still decided to just go straight into NTU acc because I do not know what else I can do back then. In the end didnt stayed long in audit because its brutal, lol. In fact some of us oldies still continue to do accounting coz we do like the subject la, as long the OT not as brutal as audit its fine. We millennials guai guai de.

So being financially poor and always feeling tired after work, even till now, of coz I didnt took the SCAQ la. Hahas. But, a bit of resentment will still be there in our heart about this transition to scaq. Back then, really very intense leh no joke... We fought so hard in poly/jc need many A's to get into ntu acc which then our parents and relatives will be proud of us lol... In the end, quite sudden the year got enrolled into uni also got the news where we were slapped with what i rmb was like 6 papers + 3 yr ATO of sqp to earn our title. If rmb correctly, pass rate was like 40% back then when it first started. We kept quiet all these while, at night hide in blanket cry sometimes lo, if nvr take and dun have CA Sg jiu dun have lo, nvm.

I think what we probably didn't expected is the accelerated downfall in attractiveness of the industry that is making us looking silly. Who would have expected covid accelerated the popularity of comp sci where the real pros go there now w much higher pay. Accounting really not very well paying if we are not partner/director/VP. Despite that, those years our ISCA/acra industry leaders still continue to hype on scaq and accountancy hub. In my own opinion, scaq was partly the reason this industry do not attract as many local uni grad as before and made its popularity worsen over the years. Scaq cohort intake is not even big.

My batch of grad most of us did not qualify for any exemptions, for me la. May be a few of my coursemate have Tax paper exemption, but if i rmb correctly, back then only 1 prof teach this advance tax mod so only those with fundamental tax score A then can take this advance tax mod. Back then really not much words abt such exemption thingy, Scaq was really not popular last time. I don't think many of my batchmates have made it to get their ca sg. I know of a few failed, gave up and left audit long ago but do not know what they doing now.

My batches, we were like the product of the unattractive scaq, we saw all the declines then only recently they put in all these effort and measures to make it more manageable for younger cohorts to bridge the gap between efforts vs rewards. But yea most of these measures like exemptions or accelerated pathways dun applies to us, we can only find comfort in conversation like this and kiss goodbye our ca sg title.

I think now tell us pass rate 70% we also dont want take 5 scaq papers, crazy ah most of us by now married and have housework and baby to take care also leh. I told my bosses abt scaq and ATO, they asked me simi lai de, w a blur look. Coz their ca sg is via grandpa PAC 5 day course, lol.. Then they straight tell me they not interested so ask me get out of their office sia. If ur employer dun want be ATO, you change ur job in order to take scaq meh? Lol.

Isca won't give up on this ATO thing because thats the lifeline to lock new grads in big 4. But i doub't with this ATO criteria continue to be in place will make the new scaq any much attractive. Lol.

At the end of the day, I changed a few jobs alrdy but havent really met any employer that explicitly need me to have ca sg. Is it really that impt? Lol I dont know... Or maybe thats the reason I'm still way too far from becoming finance cfo/director/vp. Lol.

Lol this. We probably same year intake. Sux to be us in the in-between batch. Chiong so hard to get into ntu acc instead of going for cpa aus/acca. Those days where ppl expectation was that we can't get into local uni then go for acca/cpa aust. End up this very few batches kena trolled by isca mra with cpa aust/acca, just 1 capstone mod only sia. Cui.

Originally Posted by Unregistered

Lol this. We probably same year intake. Sux to be us in the in-between batch. Chiong so hard to get into ntu acc instead of going for cpa aus/acca. Those days where ppl expectation was that we can't get into local uni then go for acca/cpa aust. End up this very few batches kena trolled by isca mra with cpa aust/acca, just 1 capstone mod only sia. Cui.

NTU Accounting IGP

2015/2016 AAA/C 606
(higher than comp science/engineering)

2016/2017 AAB/B 618
(higher than comp science/engineering)

2017/2018 AAB/B 611
(higher than comp science/engineering)

2018/2019 AAC/B 541
(Slightly lower than comp science, higher than comp engineering)

2019/2020 ABC/B 507
(Slightly lower than comp science, higher than comp engineering)

2020/2021 BBC/C 481
(Lower than comp sci and comp engineering)

2021/2022 BBC/C 414
(Lower than comp sci and comp engineering)

2022/2023 BCC/B 352
(Lower than comp sci and comp engineering)

2023/2024 BBC/C 357
(Lower than comp sci and comp engineering)

Notable decline in grades and intake starting around 2020. Decreasing interest in accounting compared to comp science and comp engineering majors.

If ISCA sign MRA with ACCA and not sign RMA with ACCA

Sorry

I am not going vote for PAP

Originally Posted by Unregistered

I'm 35

I'm born in 1989

What are the people in 20s who resigned during peak period trying to prove?

To prove that the audit firm will go haywire after they resigned?

It’s not always about the firm. their lives don’t revolve around the firm. It could be due to mental health, finding a better opportunity elsewhere, or wanting to avoid certain managers they dislike.

Why do you perceive those who resigned held grudges against the firm? Could it be because the firm or the management is mistreating them?

Originally Posted by Unregistered

Lol this. We probably same year intake. Sux to be us in the in-between batch. Chiong so hard to get into ntu acc instead of going for cpa aus/acca. Those days where ppl expectation was that we can't get into local uni then go for acca/cpa aust. End up this very few batches kena trolled by isca mra with cpa aust/acca, just 1 capstone mod only sia. Cui.

Acca need take all papers. Only cpa aus 1 capstone module.