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Q: Big4 - Yearly salary increment

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  #11971 (permalink)  
Old 12-11-2023, 10:36 AM
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Itís 2023. That old-school marketing gimmick of fast paced career progression in exchange for long working hours no longer works.

Someone send that note to HR.

What youíre selling is just not what the new generation is looking for, and unless you tailor your product, itís not going to sell.

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  #11972 (permalink)  
Old 12-11-2023, 10:49 AM
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Hi guys, I was an ex audit senior that left for a commercial accounting role. I strongly suggest that if you guys care about the prestige and money just stay put in big 4 and grind through the corporate ladder. You will be handsomely rewarded.

Your audit managers and partners are right, once you go commercial you will be Ďstuckí and Ďpigeonholedí in a back office and cost centre roles with very limited progression and measly 3% increment every year. One could be stuck as senior accountant for 5 to 10 or even donkey years who knows. But in audit, you are guaranteed career progression to at least SM level and if you defy all odds and stay on to persevere you will become equity partner one day unless you screwed up. Sky is the limit when you hit equity partner and you will command great respect from ppl around you, unlike commercial roles where you will always be viewed as a back office cost centre (these kind of employees most commercial firms are trying hard to replace u to cut cost). In audit, you are technically a front office/client facing role bringing in the revenue for the firms and hence your career is an iron rice bowl in audit.
This is a high level troll post because he mixed in some facts with some half truths.

Okay, I salute you for the efforts, much better quality than those who didnít do basic homework.

1) Prestige is debatable - Big4 brand name is still solid in the accounting world, but that is not saying much when the entire industry is not prestigious anymore.

2) Money - itís decent but not fantastic when you climb high enough, but itís a long journey there. You can hit 10k/month eventually even if non high flier.

3) Grind - you got this right. Itís really a heavy grind year after year.

4) Handsomely rewarded - Doubtful. If you work out the $/hr, you are only fairly compensated. Heck, even if you earn 30% more than your peers, you might be working 50% more hours, to 3am and even weekends.

5) The part of being stuck in commercial is partially correct. Yes, commercial firm will not have a laid out track and progression ladder for you. Itís not like some school you know you will move from Year 1 to Year 4. Depends on the firm itself and manpower needs, and if your FC isnít leaving and there are no regional posts to move into, you could be stuck there for donkey years. You are definitely a cost center in commercial where they want to squeeze you, and non-promotion increments may be 3 to 5%, less after factoring inflation.

6) Again, correct that in public accounting you are generating billable and revenue centre, and that there hasnít been a history of retrenchment so pretty much iron rice bowl unless you screw up big time.

7) Misleading to suggest everyone will make equity partner - very few actually do. You need a ďbusiness caseĒ and presentation to a panel of partners.

8) On respect, yes thereís a certain reputation when you make Partner, but generally most people just want money in their bank account to spend. They donít really care about walking on the street and being recognised. FC of a major manufacturing firm earns big bucks but no one would recognise this face and most layman would not even hear of the company since it deals B2B only.

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  #11973 (permalink)  
Old 12-11-2023, 11:24 AM
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5) The part of being stuck in commercial is partially correct. Yes, commercial firm will not have a laid out track and progression ladder for you. Itís not like some school you know you will move from Year 1 to Year 4. Depends on the firm itself and manpower needs, and if your FC isnít leaving and there are no regional posts to move into, you could be stuck there for donkey years. You are definitely a cost center in commercial where they want to squeeze you, and non-promotion increments may be 3 to 5%, less after factoring inflation.


7) Misleading to suggest everyone will make equity partner - very few actually do. You need a ďbusiness caseĒ and presentation to a panel of partners.
Irony in the troll's post is that most people who join audit lack the imagination and guts to chart their own career path. They NEED the security of Big4's annual progression laid out for them, like primary or secondary school students. Otherwise they will feel very insecure.

And they won't take initiative to further their own careers. Instead, they wait for work to come to them, and think that working hard = I deserve to be rewarded with pay/promotions/progression.

The irony is that these types are the exact type of people who will struggle to make equity partner. In fact, they will most likely drop out after reaching M or SM level as they realise that there's no fixed 'formula' or natural guaranteed progression to reach equity partnership, just a lot of written and unwritten rules and expectations on whether the firm will push you up to the partnership or not.

And when these people drop out, where do they go? They go to commercial roles and get stuck and pigeonholed in those commercial roles after all!

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  #11974 (permalink)  
Old 12-11-2023, 12:52 PM
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Most of the people I speak to wonít even consider hiring their own Big 4 auditors into their company. The caliber is just awful these days, much rather take an accountant/fp&a who have started in the same industry/have much more aligned experience.
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  #11975 (permalink)  
Old 12-11-2023, 03:34 PM
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Most of the people I speak to wonít even consider hiring their own Big 4 auditors into their company. The caliber is just awful these days, much rather take an accountant/fp&a who have started in the same industry/have much more aligned experience.
Big 4 have been riding onto the brand name for years but it's auditors skill is just copying past year work. Totally no need degree to do
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  #11976 (permalink)  
Old 12-11-2023, 05:33 PM
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Irony in the troll's post is that most people who join audit lack the imagination and guts to chart their own career path. They NEED the security of Big4's annual progression laid out for them, like primary or secondary school students. Otherwise they will feel very insecure.

And they won't take initiative to further their own careers. Instead, they wait for work to come to them, and think that working hard = I deserve to be rewarded with pay/promotions/progression.

The irony is that these types are the exact type of people who will struggle to make equity partner. In fact, they will most likely drop out after reaching M or SM level as they realise that there's no fixed 'formula' or natural guaranteed progression to reach equity partnership, just a lot of written and unwritten rules and expectations on whether the firm will push you up to the partnership or not.

And when these people drop out, where do they go? They go to commercial roles and get stuck and pigeonholed in those commercial roles after all!
Iím one of those who might the certainty very attractive.

My whole life has been laid out by the government. Primary school, secondary school, JC, NS, Uni, then work.

B4 allowed me to extend the certainty and comfort of knowing where I will be, what Iíll be doing, and even how much Iím earning the next year and following.

The ladder of certainty ends around SM, but it would be a good ten year run.
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  #11977 (permalink)  
Old 12-11-2023, 07:22 PM
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Which firm is this? Didnít know got July promotion.
its blue. they say july promotion cycle
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  #11978 (permalink)  
Old 13-11-2023, 04:04 AM
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i went overseas engagement with bunch of malaysians
when we in public eating mingle club, people ask ask those malaysians where they are from
all of them proclaim "Singapore"

"I'm from Singapore!"

HAHAHAHAHHAHAHAHAHAHAHAHAH

Why they so afraid of saying they from malaysia?
Is it cos malaysia airline, or 3:1, or most of them work in hair salon, or most of them work as chef in F&B yet people complain say msia food taste better, or most of them can't speak proper english?

please advice
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  #11979 (permalink)  
Old 13-11-2023, 10:32 AM
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hihi, but what if u job hop every yr/every two yrs in a commercial role (fp&a etc), is the progression comparable to big four?
You will earn 100k PA and above on 7th or 8th year on audit.

If commercial can offer you such money faster than that, Then they are comparable.
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  #11980 (permalink)  
Old 13-11-2023, 10:34 AM
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Iím one of those who might the certainty very attractive.

My whole life has been laid out by the government. Primary school, secondary school, JC, NS, Uni, then work.

B4 allowed me to extend the certainty and comfort of knowing where I will be, what Iíll be doing, and even how much Iím earning the next year and following.

The ladder of certainty ends around SM, but it would be a good ten year run.
Drop out at SM to commercial, to enjoy wlb with same or better pay!!

Delayed gratification.
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