Fresh Grad Advice: Local Big 4 Strategy vs Hong Kong Transaction Banking - Page 2 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




Fresh Grad Advice: Local Big 4 Strategy vs Hong Kong Transaction Banking

Reply
 
Thread Tools
  #11 (permalink)  
Old 13-04-2020, 05:41 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Consultants at Strategy& and Parthenon donít follow your usual Big 4 pay grades (A1, A2, S1...etc) like their Advisory counterparts btw.

What type of exit opps youíre looking for? If itís to land a job at MBB then yes, Strategy& and Parthenon is gonna boost your chances compared to transaction banking.

If youíre comparing traditional Big 4 advisory and transactional banking, neither will get you close to MBB unless you decide to do your postgrad at a target MBA program and join their graduate associate schemes.
Can you share what are the target biz schools in SG for MBB?

Can only think of INSEAD...

Reply With Quote
  #12 (permalink)  
Old 13-04-2020, 07:56 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Can you share what are the target biz schools in SG for MBB?

Can only think of INSEAD...
Try to avoid INSEAD or ESSEC if you donít have industry experience. The reason why their MBA programmes overstate ďprestigeĒ is because their candidates are mostly already employed consultants on a sabbatical. Itís a good place to brush shoulders with MBB guys but getting into a graduate scheme fresh out of the boat will be an uphill task.

Do a quick LinkedIn search and you will find that fresh postgrad (with no consulting experience) in MBB oftentimes hail from the likes of Wharton, Judge, Said, Tuck, and etc.

In SG, the only MBA that comes close would be NUSí MBA/EMBA though I have yet to encounter a graduate that breaks into MBB fresh however their programme brochure boasts alumni at C-suite level.

Reply With Quote
  #13 (permalink)  
Old 13-04-2020, 08:16 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by trutem View Post
Yup the offer is from Parthenon. Not sure if they are following the same scale as the usual big 4 pay grade as the starting pay is ~3.8k which seems pretty low, perhaps the post integration resulted in lower payscale.
Do you know the pay progression within Parthenon?

I guess I am looking at exit opportunities within corporate strategy/business development etc. Not really MBB as I don't think I can take the consulting life for long.
Big 4 A1s start at $3,000 (take home salary $2,400) with a guaranteed (sort of) promotion yearly.

Is yours $3,800 after CPF deduction? If it is then $4,750 for a fresh associate is the industry average. Canít comment on Parthenonís increment but in my firm (non MBB), baseline pay wonít increase but we get higher performance bonus every year.

Reply With Quote
  #14 (permalink)  
Old 16-04-2020, 11:10 AM
Junior Member
 
Join Date: Apr 2020
Posts: 4
trutem is on a distinguished road
Default

Quote:
Originally Posted by Unregistered View Post
Big 4 A1s start at $3,000 (take home salary $2,400) with a guaranteed (sort of) promotion yearly.

Is yours $3,800 after CPF deduction? If it is then $4,750 for a fresh associate is the industry average. Canít comment on Parthenonís increment but in my firm (non MBB), baseline pay wonít increase but we get higher performance bonus every year.
Sadly, its before CPF deduction. So I feel its really low and might not be worth it in comparison.
Your firm sounds great, thanks for sharing!
Reply With Quote
  #15 (permalink)  
Old 16-04-2020, 10:35 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by trutem View Post
Yup the offer is from Parthenon. Not sure if they are following the same scale as the usual big 4 pay grade as the starting pay is ~3.8k which seems pretty low, perhaps the post integration resulted in lower payscale.
Do you know the pay progression within Parthenon?

I guess I am looking at exit opportunities within corporate strategy/business development etc. Not really MBB as I don't think I can take the consulting life for long.
I expected 4.5k honestly. You can try to negotiate.

Personally, I'd take the Parthenon job over banking, but that's due to personal preference.

Is the salary difference huge? I'm guessing the banking role would be around 5k SGD a month.
Reply With Quote
  #16 (permalink)  
Old 18-04-2020, 12:53 AM
Unregistered
Guest
 
Posts: n/a
Default

dont mean to hijack this thread but i kinda wanna ask a similar question, CPF MA or marsh grad program?
Reply With Quote

  #17 (permalink)  
Old 18-04-2020, 03:29 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
dont mean to hijack this thread but i kinda wanna ask a similar question, CPF MA or marsh grad program?
whats the salary for both
Reply With Quote
  #18 (permalink)  
Old 18-04-2020, 04:36 PM
Unregistered
Guest
 
Posts: n/a
Default

start yr own freaking thread
Reply With Quote
  #19 (permalink)  
Old 18-04-2020, 09:42 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
I expected 4.5k honestly. You can try to negotiate.

Personally, I'd take the Parthenon job over banking, but that's due to personal preference.

Is the salary difference huge? I'm guessing the banking role would be around 5k SGD a month.
Yeah i tried, but no room for negotiation
That's true as the banking role is in HKD there are fluctuations in the difference from 1.2k to 1.6k sgd, think its quite substantial.

Starting lower would also make it harder to negotiate for a higher pay in the future.

Nonethless, thanks for sharing your perspective! Cheers!
Reply With Quote
  #20 (permalink)  
Old 20-04-2020, 11:50 PM
Junior Member
 
Join Date: Apr 2020
Posts: 4
trutem is on a distinguished road
Default

Quote:
Originally Posted by Unregistered View Post
I expected 4.5k honestly. You can try to negotiate.

Personally, I'd take the Parthenon job over banking, but that's due to personal preference.

Is the salary difference huge? I'm guessing the banking role would be around 5k SGD a month.
I tired to but they wouldnt budge. The salary difference works out to be around 1.2k to 1.6k sgd/month due to currency fluctuation as I will be paid in HKD, I think its pretty huge?
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Fresh Grad from local U cant find job, any advice? threadstarter Income and Jobs 92 13-07-2021 11:58 AM
Fresh Grad with Masters starting salary in banking Novice Income and Jobs 18 09-02-2016 08:57 PM
Local Fresh Grad Starting Salary Package yukismeh Income and Jobs 2 10-01-2015 02:11 AM
Fresh Engineering Grad want to switch to Banking rampa001 Income and Jobs 53 17-09-2011 10:42 AM
Hong Kong Property Prices Plunged Salary.sg Investments and Net Worth 1 02-10-2008 06:25 PM

» 30 Recent Threads
GovTech ( 1 2 3... Last Page)
1,472 Replies, 461,670 Views
GovTech Tech Associate Program... ( 1 2 3... Last Page)
190 Replies, 62,986 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
4,492 Replies, 2,753,742 Views
DBS Graduate Associate Program ( 1 2 3... Last Page)
2,142 Replies, 632,837 Views
Career as Teacher ( 1 2 3... Last Page)
4,322 Replies, 2,801,659 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
5,044 Replies, 1,668,082 Views
Whats your net worth ( 1 2 3... Last Page)
2,888 Replies, 1,005,576 Views
High Finance Thread ( 1 2 3... Last Page)
440 Replies, 142,050 Views
Singtel Management Associate... ( 1 2 3... Last Page)
508 Replies, 186,391 Views
Htx ( 1 2 3... Last Page)
57 Replies, 7,083 Views
JP Morgan ( 1 2 3... Last Page)
113 Replies, 71,656 Views
Lawyer Salary ( 1 2 3... Last Page)
15,507 Replies, 5,324,085 Views
OCBC Bank
2 Replies, 120 Views
UOB Management Associate Program ( 1 2 3... Last Page)
627 Replies, 325,329 Views
ST Electronics ( 1 2 3... Last Page)
2,476 Replies, 687,067 Views
Compare civil service salary ( 1 2 3... Last Page)
13,296 Replies, 7,864,180 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
761 Replies, 369,501 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
192 Replies, 73,956 Views
How rich/poor am I compared to... ( 1 2 3... Last Page)
102 Replies, 91,167 Views
How is life as a doctor in... ( 1 2 3... Last Page)
3,446 Replies, 1,609,749 Views
If you can't find a company here... ( 1 2 3... Last Page)
49 Replies, 6,411 Views
Compilation of MAs/Analysts Gross... ( 1 2 3... Last Page)
871 Replies, 267,268 Views
Mizuho Securities
0 Replies, 53 Views
Mizuho Financial Group
0 Replies, 46 Views
Jeppesen
0 Replies, 26 Views
Boeing
0 Replies, 33 Views
Vital Limited
0 Replies, 43 Views
PMO (Prime Minister's Office...
0 Replies, 86 Views
Amazon
0 Replies, 48 Views
PayPal
0 Replies, 46 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 10:50 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2