Q: Big4 - Yearly salary increment

Originally Posted by Unregistered

Now dont even have high pay anymore. Exit also low pay only. Can't believe psychology and mass comm are harder to enter than accountancy... thanks larry wong

This is fundamentally a problem with the profession you've chosen. Audit and to some extent tax, are commoditized services. They are necessary only because of regulations. Companies don't engage these services except for the fact that they are mandatory. Fees can only go up by so much because clients see it as a necessary evil. And once the Big4 started the fee undercutting and race to the bottom, there's no going back. Its set an irreversible client expectation.

For Singapore, even worse because a large number of cheap accounting trained jhks can be easily imported to fill positions. Plus offshoring of many services to India, Philippines.

Frankly, there's zero chance that accounting will ever regain it's former prestige. It has been overshadowed by other new economic sectors. You shouldve picked a bespoke professional services field like consulting instead.

Originally Posted by Unregistered

Frankly, there's zero chance that accounting will ever regain it's former prestige. It has been overshadowed by other new economic sectors. You shouldve picked a bespoke professional services field like consulting instead.

You say this now got what use? Where were you in 2008 when I taking my national exam?

Originally Posted by Unregistered

You say this now got what use? Where were you in 2008 when I taking my national exam?

LOL yeah same, I wouldn’t have known when I was entering Uni in 2012.

That time, my friend only scored BBC or BCC for A’s and could only make it to Computing.

Now Computing is AAA/A and he’s earning big bucks.

What’s a supervising associate in EY?
Associate - senior associate - Supervising associate - AM?

What’s the estimated pay range? Thanks

Why the hell do we need to call someone again just to verify that we received the confirmation from them? If we receive a goddamn audit confirmation directly from their email, signed their name, their company stamp, isn't that good enough? Waste so much time zzz... Whose stupid idea is it to have all these useless procedures? **** audit

Originally Posted by Unregistered

This is fundamentally a problem with the profession you've chosen. Audit and to some extent tax, are commoditized services. They are necessary only because of regulations. Companies don't engage these services except for the fact that they are mandatory. Fees can only go up by so much because clients see it as a necessary evil. And once the Big4 started the fee undercutting and race to the bottom, there's no going back. Its set an irreversible client expectation.

For Singapore, even worse because a large number of cheap accounting trained jhks can be easily imported to fill positions. Plus offshoring of many services to India, Philippines.

Frankly, there's zero chance that accounting will ever regain it's former prestige. It has been overshadowed by other new economic sectors. You shouldve picked a bespoke professional services field like consulting instead.

It's a recent thing after 2021... Thanks to all the new audit requirements every year which adds 10000 extra steps to an audit and doesn't contribute a lick. Last time audit jialat also not even half this jialat. I never had to phone someone to verify every audit confirmation lol, wtf is that crap??? No wonder audit hours are so long these days, create work but all are not billable work.

Anyway the boom in CS pay is a COVID low interest rate thing, and accounting pay hasn't recovered from the SGUnitedTrainee crap. Consulting need to be born rich because that's what our partners look for when filtering resume (must be non-HDB home address at "good" neighbourhood. Our team is completely from bukit timah etc except for the foreigners for once lmao). Exception is tech consulting which is bottom of the barrel stuff for CS grads and has completely dried-up revenue pipeline now and is the reason your bonuses this year is <1 month. Things change really fast these days and by the time you complete your 4 year degree, it'd be rendered obsolete. Most of us completed our degree at a time when computing and consulting is outsourced to other cheaper countries anyway.

Originally Posted by Unregistered

Anyone knows if we're actually hiring? My managers all resigned but it's already December and I still don't see any new ones joining, it's just remaining ones taking up more portfolio. Same for seniors, they just shortened booking periods to cope.

no hiring of seniors and managers, confirmed in townhall already. why do you think your managers resigned without a job in hand? from the way they responded to the downsizing by PIP question, get ready to be faced with questionable review points and PIP out of the blue. oh and prepare to coddle the joke quality first years because "we need to improve the image of big 4 audit career amongst students" and "they are technically intern even though they work full time and will join us as 2nd year after they graduate, but still cannot let them OT during peak".

Originally Posted by Unregistered

no hiring of seniors and managers, confirmed in townhall already. why do you think your managers resigned without a job in hand? from the way they responded to the downsizing by PIP question, get ready to be faced with questionable review points and PIP out of the blue. oh and prepare to coddle the joke quality first years because "we need to improve the image of big 4 audit career amongst students" and "they are technically intern even though they work full time and will join us as 2nd year after they graduate, but still cannot let them OT during peak".

Yeah, our firm hired interns as "A1" too. But damn shiok, pay them only 1k compared to 3.6k staff plus no insurance. Goes to show how penny pinching the partners are these days.

Big 4 partners waiting for each other to make the first move to hire. See who succumb first loh.
2024 profit for partners gonna sky rocket!

Maybe they will hire in 2025 instead

Originally Posted by Unregistered

Yeah, our firm hired interns as "A1" too. But damn shiok, pay them only 1k compared to 3.6k staff plus no insurance. Goes to show how penny pinching the partners are these days.

So now former interns will start as A2? Thought only black doing this