Q: Big4 - Yearly salary increment

Originally Posted by Unregistered

Could anyone share how many years does it typically take for a big 4 audit farmer to earn 7k? I am thinking 7k is the starting for Manager level - so 6 years at min?

5 years to reach just shy of 7k.

Which is decent, imo, for second lower honors and a BCC student.

Originally Posted by Unregistered

This stems from a few key factors:

1. Until a few years ago. Getting into accounting was hard. It was a min AAA/B course. However, because of this lack of interest and what not our dear NBS has tanked to a BBC/C or some **** course that everyone can get in. This degrades the local prestige and has affected the quality of local graduates.

2. Pay in the industry was stagnant at 3 for a good amount of time for a course that takes in AAA/B students. This is why theres a ton of complaints. However, the current starting is suitable for rubbish BBC/C students. Hence I would say it is reasonable because that is the skill level they are paying for.

3. The complaint comes from those who are better performing but also forced to join this stupid system of low pay, long hours with no promise of reward. This is a negative cycle that discourages good students from joining acc and as a result reduce the amount of good people in the profession and naturally, the quality of work.

So yes, 4k for scrubs to do work monkey can do is alright. But we dont want to be a profession that does things even monkeys can do. But in order for us to improve, it becomes a chicken and egg problem. Raise salaries > entice more ppl to join > quality improve. But the first thing that needs to be done is raise salaries for these monkeys before it can attract better people.

3k for AAA is imo, not competitive at all, and frankly quite horrible.
3.5k for BCC is decent.

This is just market forces of demand and supply at work.

Invisible hand.. market will move itself to equilibrium.

Originally Posted by Unregistered

5 years to reach just shy of 7k.

Which is decent, imo, for second lower honors and a BCC student.

Thank you for sharing. 5 years to reach shy of 7k is pretty decent. But whats BCC student???

Originally Posted by Unregistered

Thank you for sharing. 5 years to reach shy of 7k is pretty decent. But whats BCC student???

Accountancy is a BCC course.
Business is a BBC course.

Computer Science, Law, Medicine are AAA. Obviously there is a difference in quality and you pay for what you get.

Originally Posted by Unregistered

Wont say where cus team is small, but just know that it exists. And we are hiring.

wah in big 4? really? im interested

Originally Posted by Unregistered

Accountancy is a BCC course.
Business is a BBC course.

Computer Science, Law, Medicine are AAA. Obviously there is a difference in quality and you pay for what you get.

how come biz grads so cui ah? still be be in IB

Pro Tip : Use Ceca name to gain favour from your bosses

Originally Posted by Unregistered

3k for AAA is imo, not competitive at all, and frankly quite horrible.
3.5k for BCC is decent.

This is just market forces of demand and supply at work.

Invisible hand.. market will move itself to equilibrium.

correct. that is why older people all kpkb here but newer people are satisfied. referring to the previous comment

Originally Posted by Unregistered

correct. that is why older people all kpkb here but newer people are satisfied. referring to the previous comment

Errr AAA is how long ago?

I tried to google, seems to be 2011 2012 news?

Maybe time to let go and stop harping on old news?

Originally Posted by Unregistered

This stems from a few key factors:

1. Until a few years ago. Getting into accounting was hard. It was a min AAA/B course. However, because of this lack of interest and what not our dear NBS has tanked to a BBC/C or some **** course that everyone can get in. This degrades the local prestige and has affected the quality of local graduates.

2. Pay in the industry was stagnant at 3 for a good amount of time for a course that takes in AAA/B students. This is why theres a ton of complaints. However, the current starting is suitable for rubbish BBC/C students. Hence I would say it is reasonable because that is the skill level they are paying for.

3. The complaint comes from those who are better performing but also forced to join this stupid system of low pay, long hours with no promise of reward. This is a negative cycle that discourages good students from joining acc and as a result reduce the amount of good people in the profession and naturally, the quality of work.

So yes, 4k for scrubs to do work monkey can do is alright. But we dont want to be a profession that does things even monkeys can do. But in order for us to improve, it becomes a chicken and egg problem. Raise salaries > entice more ppl to join > quality improve. But the first thing that needs to be done is raise salaries for these monkeys before it can attract better people.

Bingo.
This is what I've been feeling.
Big4 HR needs to see this.