All those local grads who managed to secure a place in any of the big4 should count your blessings in this prevailing market condition with the economy struggling to achieve 3% growth rate. Before you start to complain much about your bonuses, take a pause and look at our stock market you will realize that we are struggling to clear and hold the 3300 level when our high achieved was 3800 in year 2007. Compare to others first world economy and you will see that many of our major listed companies are struggling to achieve growth in revenue and profits.
Apart from our 3 local banks and few electronic manufacturers, the rest are either mixed(major property firms), experiencing downturn and many are trying to stay afloat(firms trading at below $0.20). The younger grads should take the opportunities given to acquire experience and new knowledge and when situation changes which will happen, you are really to move to a much higher and fulfilling role in a major mnc given your experience and professional accreditation from a recognized accounting body.
Currently the big4 are recruiting mainly from
NTU/
NUS/
SMU with a handful top grads from SIT/SUSS , higher ranked overseas grads and experienced full ACCA holders. The better private grads have to vie strongly for a place in a mid-tier firm and should treasure the opportunities given to them to learn and move on in the future.