Forums - View Single Post - Q: Big4 - Yearly salary increment
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Old 06-03-2015, 12:21 PM
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Originally Posted by Unregistered View Post
Sorry but I'm not getting the logic here, hope experienced bros can help clarify. So meaning on the first year joining PWC is just 3k x 12 with nothing else? No bonus no aws?

I mean I'm a bit shocked that a Big 4 can offer such lousy terms that is even worse than SME starting pay. AFAIK even a SIM grad joining a small local firm can get 2.5k x 12 + aws + 1.5-2mths variable which actually end up higher than PWC annual.

I know the big 4 emphasize how their increment better, after few years better on the cv to look for other jobs etc. But honestly very shock that it can be so pathetic low at the start. If it's really that bad then I can understand now why so many of uni coursemate majoring in Finance are so desperate to join the banking side even if as back office admin support.
Unfortunately, the Big 4s are not known for offering a competitive package or decent working hours especially when it comes to fresh graduates. Whether it's 3k without bonus or 2.7k with a little bonus as shared by most others earlier, the end result is a pay package that is below average at best and work hours that range from barely acceptable to horrendous.

To answer your question, how do they get away with such lousy offers? They mainly rely on 2 selling points, supposedly better increments at least for the first few years with them and more importantly, the perception that big MNCs prefer candidates with some Big 4 experience.

Many young grads basically suck thumb and treat this as serving "NS" for a few years in the hopes of picking up a better Finance job in a big MNC in the future. Fact of the matter is there are only so many big MNC/banking fresh grad positions available and usually only the best 20% of the cohort get them. Paying your dues in the Big4 remains a common option for the rest of the Finance grads to have a hope of building a future career.
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