Fresh Grad Advice: Local Big 4 Strategy vs Hong Kong Transaction Banking - Page 5 - 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
  #41 (permalink)  
Old 06-05-2020, 11:39 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
May be right for parthenon, very wrong for strategy&.

My brother from INSEAD has batch mates in strategy&. Start as SA1 level, pay is ~12k. Their associates start from 6.3ish.

Normal pwc consulting / deals managers only earn ~high 6k. Its a world of difference not only in prestige but also salary package. My bro ultimately went to ATK and its similar salaries.. not much difference.

I strongly believe the bro above thinks the pay scale for parthenon is similar to s&, but it is not - i assure u. At least not in Singapore.
Interesting. I thought Parthenon and Strategy& are more or less "peer" firms? At the same level of prestige?

Don;t tell me Parthenon is severely underpaying their consultants compared to fellow tier 2 firms?

Reply With Quote
  #42 (permalink)  
Old 07-05-2020, 02:34 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Parthenon pay not same tier as S&.
So Parthenon is tier 3?

S& Tier 2 together with ATK

Reply With Quote
  #43 (permalink)  
Old 07-05-2020, 03:43 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Interesting. I thought Parthenon and Strategy& are more or less "peer" firms? At the same level of prestige?

Don;t tell me Parthenon is severely underpaying their consultants compared to fellow tier 2 firms?
Few possible reasons:
1) Parthenon partners may have traditionally come from EY. Have been hearing on Parthenon's greater integration into EY, causing many to leave. This means partners will be more inclined to pay similar (a lil higher) to EY salary levels.

2) Even if Parthenon partners do not "side" with EY, they do not and should not have the final say. If they suggest to pay their consultants at high rates, they must obtain the approval of their senior partners, which most likely come from EY (think SEA / APAC head of consulting, or even EY Singapore CEO). This may be a challenge to them - they may have to prove themselves and justify a business case, but nevertheless optics won't be good.

3) They just want to rip off aspiring consultants because why not, supply always > demand in this industry especially with "Parthenon" name.

Reply With Quote
  #44 (permalink)  
Old 09-05-2020, 10:24 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by trutem View Post
Hi there, I currently have 2 offers on hand:

1) Local Big 4 Strategy Consulting Role
2) Hong Kong based Transaction Banking Management Rotational Program

Compensation wise - The banking program definitely pays more but net of my expected rent it is about the same as the big 4 strategy consulting role.

I have done a consulting internship at a top tier firm before and I did not really enjoy it the most (long working hours, grinding excel etc.) but i recognize that exit opportunities are abundant, just not sure if the same exit opportunities applies the same from a Big 4 perspective.

Wanted to get anyone's thoughts about how would they choose between these 2 opportunities?

Thank you!

Hi,

First of all, congratulations for landing 2 offers. Good job.
Hopefully my comments can help you along the way.

First of all, consider your career interest because both areas are different. Consulting will be intense and project-based, and I believe you will be work across wide range of industries and companies which is great exposure. I have worked with colleagues from consulting background, and I generally find them to have good soft skills, structure ideas well and have critical thinking. But they lack specialist skills as they have always touch and go on their projects. You can also find ex-consultants in many different functions from Corporate dev, business dev, marketing, HR you name it. On the other hand, you have transaction banking, which is the area in banking that offers services to companies related to import export, payments, cash management etc. It's quite an operational function I feel. But I'm not familiar with this area, so do more read up more about this area to see if you are interested.

Secondly, you mentioned the pay difference of 1.2 - 1.6 k additional in the bank. These would go straight to rental in HK, which honestly will not even be enough. I have a few friends currently working in HK, paying rent of 2k for an average apartment in downtown area. Therefore, I would say you should not base this decision on salary.

Firm specific, Parthenon EY may not top tier level consulting like MBB. But if you go to linkedin to look at the profiles of people working in Parthenon, they have really good people with outstanding credentials. You'll have the opportunity to work with them and that's really cool. And working in consulting, will put you in a better position to join the top tier companies down the road.

Above are my 2cents. All the best!
Reply With Quote
  #45 (permalink)  
Old 26-11-2021, 11:40 PM
Unregistered
Guest
 
Posts: n/a
Default

Go HK, Singapore salary is like ****. I’m currently M1 in big4 consulting in getting around approx SGD9.6k exclude bonus. You can still get pretty reasonable rent similar to what you would be paying in SG just that the place is smaller and no need contribute 37% of your salary to CPF, more control on the money you earn.
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 93 21-02-2022 11:09 PM
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
ITE Polytechnic Scheme ( 1 2 3... Last Page)
309 Replies, 368,658 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
15,303 Replies, 4,981,701 Views
UOB Management Associate Program ( 1 2 3... Last Page)
1,454 Replies, 784,010 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,827 Replies, 4,655,839 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
5,338 Replies, 4,767,789 Views
Career as Teacher ( 1 2 3... Last Page)
10,818 Replies, 6,661,626 Views
Compare civil service salary ( 1 2 3... Last Page)
16,342 Replies, 12,452,433 Views
Civil Service Current Estimated... ( 1 2 3... Last Page)
169 Replies, 308,767 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
678 Replies, 387,934 Views
Constituency Manager (People... ( 1 2 3... Last Page)
989 Replies, 813,734 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,920 Replies, 2,902,177 Views
Julius Baer Graduate Program 2023 ( 1 2 3)
21 Replies, 14,731 Views
Roles in accenture singapore ( 1 2 3... Last Page)
7,385 Replies, 2,323,235 Views
Lawyer Salary ( 1 2 3... Last Page)
21,013 Replies, 10,327,708 Views
GovTech ( 1 2 3... Last Page)
5,159 Replies, 2,162,298 Views
HTX (Home Team Science and... ( 1 2 3... Last Page)
752 Replies, 357,945 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
1,049 Replies, 440,371 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,464 Replies, 1,374,811 Views
ST Electronics ( 1 2 3... Last Page)
3,767 Replies, 1,544,035 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,794 Replies, 1,043,000 Views
IMDA (under MCI) ( 1 2 3... Last Page)
1,260 Replies, 613,304 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
6,123 Replies, 3,738,102 Views
MX12 reappointed at MX11
8 Replies, 762 Views
Hospital (Private or Public)... ( 1 2 3... Last Page)
749 Replies, 405,200 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,329 Replies, 1,141,691 Views
MFA- Foreign Service... ( 1 2 3... Last Page)
54 Replies, 84,908 Views
Cybersecurity/Info security career ( 1 2 3... Last Page)
511 Replies, 268,360 Views
Visa Graduate Development Program ( 1 2 3... Last Page)
206 Replies, 134,435 Views
Singapore Airlines ( 1 2 3)
22 Replies, 11,251 Views
NUS (National University of... ( 1 2 3... Last Page)
318 Replies, 318,777 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 08:51 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2