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Q: Big4 - Yearly salary increment

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  #12641 (permalink)  
Old 15-12-2023, 12:47 AM
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This cfm new joiner don't know how the billable hrs work
What do you mean? Can explain?

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  #12642 (permalink)  
Old 15-12-2023, 02:06 AM
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Out of touch, younger people don’t care about making partner

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Hi everyone, if you guys feel jaded about peak let me share with you my journey

2009: Joined Big 4 as an Audit Associate
2011: Promoted to Audit Senior
2013: Promoted to Audit Assistant Mgr and seconded to NYC
2018: Promoted to Audit Senior Mgr
2021: Promoted to Audit Partner

I am not a high flyer per se however I am not the kind that seeks for instant gratification. Many of my peers left big 4 which creates an opportunity for me to rise up to partnership. One would be sensible to press on when everyone else leaves because it would mean less competition for partnership.

I understand that peak is tough for you guys, but every dark clouds have a silver lining and look at the bright side. Big 4 is the only place that could provide you with lateral career trajectory, which translates to faster promotion and higher increments annually. During these 12 years of my career, there were many headhunters poaching me with lucrative offers. However, I rejected all these offers as my approach to career has always been a “long term investor” rather than a “short term trader”. Big 4 is equivalent to US stock market where there are many ups and downs throughout. However, if you are able to weather through all this hardships you will see lucrative gains and huge positive impact to your career as well as your life.


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  #12643 (permalink)  
Old 15-12-2023, 08:03 AM
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Hi everyone, if you guys feel jaded about peak let me share with you my journey

2009: Joined Big 4 as an Audit Associate
2011: Promoted to Audit Senior
2013: Promoted to Audit Assistant Mgr and seconded to NYC
2018: Promoted to Audit Senior Mgr
2021: Promoted to Audit Partner

I am not a high flyer per se however I am not the kind that seeks for instant gratification. Many of my peers left big 4 which creates an opportunity for me to rise up to partnership. One would be sensible to press on when everyone else leaves because it would mean less competition for partnership.

I understand that peak is tough for you guys, but every dark clouds have a silver lining and look at the bright side. Big 4 is the only place that could provide you with lateral career trajectory, which translates to faster promotion and higher increments annually. During these 12 years of my career, there were many headhunters poaching me with lucrative offers. However, I rejected all these offers as my approach to career has always been a “long term investor” rather than a “short term trader”. Big 4 is equivalent to US stock market where there are many ups and downs throughout. However, if you are able to weather through all this hardships you will see lucrative gains and huge positive impact to your career as well as your life.
What a clown.
Hows your health?
How is peak tough when almost the entire year its peak
What faster promotion when so many people getting PII
What poach when audit is your only skillset? U have no commercial substance other than selecting samples

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  #12644 (permalink)  
Old 15-12-2023, 09:52 AM
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They give u increments yearly cos ur starting point is already so low. They work u so hard but the increments merely barely makes u comparable to people who start elsewhere.
this must be a retarded post. for an accountancy graduate, there is no way you can draw higher salary outside big4 doing the SAME kind of work - accounting / audit related. Don't bring irrelevant JD like investment banking / some sales and BD role since it's of no relation.

3yrs experienced senior associates in Big4 are drawing 5-6k, with 3yrs experience, they tried applying for commercial roles asking for a further 10% increment, which is approximately mid 6ks.

This is on top of the fact that they put 14-16hrs workday in big4 but only expected to put in 8hrs workday in commercial, with occasional OT due to month-end closing or other deadlines.

Essentially, if you do the math, they are going for a 2x in terms of salary (per hour) because of higher salary (10% increment) and shorter working hours (40% reduction)

And no commercial company in their right sense of mind will pay 6k++ for someone with 3years experience, do not know how to use ERP system, and cannot work like a workhorse. Want to coast a 40hr workweek "work-life balance"
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  #12645 (permalink)  
Old 15-12-2023, 09:52 AM
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Hi everyone, if you guys feel jaded about peak let me share with you my journey

2009: Joined Big 4 as an Audit Associate
2011: Promoted to Audit Senior
2013: Promoted to Audit Assistant Mgr and seconded to NYC
2018: Promoted to Audit Senior Mgr
2021: Promoted to Audit Partner

I am not a high flyer per se however I am not the kind that seeks for instant gratification. Many of my peers left big 4 which creates an opportunity for me to rise up to partnership. One would be sensible to press on when everyone else leaves because it would mean less competition for partnership.

I understand that peak is tough for you guys, but every dark clouds have a silver lining and look at the bright side. Big 4 is the only place that could provide you with lateral career trajectory, which translates to faster promotion and higher increments annually. During these 12 years of my career, there were many headhunters poaching me with lucrative offers. However, I rejected all these offers as my approach to career has always been a “long term investor” rather than a “short term trader”. Big 4 is equivalent to US stock market where there are many ups and downs throughout. However, if you are able to weather through all this hardships you will see lucrative gains and huge positive impact to your career as well as your life.

I think this is trolling, but if its real, I'll bite.

You do realize this is survivorship bias right? You're probably 1 out of 50 of your batch who made it to partner. You were in contention for the spot, because the other 49 people dropped out along the way.

Think about it. If everyone in your batch had been determined to stay on until partner to "see the lucrative gains" that you promise, will that magically increase the business case for your firm to promote all 50 of you as partners? No, not one bit.

The firm would still have to find ways to kick the other 49 out, or make them leave. There is only enough slots for X number of partners.

Big4 is based on a pyramid structure, like the SAF. All regular officers hope to reach Colonel and Brigadier General, but the majority will be forced out or forced to hentak kaki because there are only so many slots.

So your advice is literally worthless and totally backward looking. It has zero forward looking value.
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  #12646 (permalink)  
Old 15-12-2023, 10:06 AM
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Originally Posted by Unregistered View Post
Hi everyone, if you guys feel jaded about peak let me share with you my journey

2009: Joined Big 4 as an Audit Associate
2011: Promoted to Audit Senior
2013: Promoted to Audit Assistant Mgr and seconded to NYC
2018: Promoted to Audit Senior Mgr
2021: Promoted to Audit Partner

I am not a high flyer per se however I am not the kind that seeks for instant gratification. Many of my peers left big 4 which creates an opportunity for me to rise up to partnership. One would be sensible to press on when everyone else leaves because it would mean less competition for partnership.

I understand that peak is tough for you guys, but every dark clouds have a silver lining and look at the bright side. Big 4 is the only place that could provide you with lateral career trajectory, which translates to faster promotion and higher increments annually. During these 12 years of my career, there were many headhunters poaching me with lucrative offers. However, I rejected all these offers as my approach to career has always been a “long term investor” rather than a “short term trader”. Big 4 is equivalent to US stock market where there are many ups and downs throughout. However, if you are able to weather through all this hardships you will see lucrative gains and huge positive impact to your career as well as your life.
If this is real I feel sorry for you guys imagine getting guys of caliber to be your MD... no wonder big 4 audit cannot survive and constantly going down the path of bidding downwards only. Your bosses have zero businesd acumen.


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  #12647 (permalink)  
Old 15-12-2023, 10:29 AM
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this must be a retarded post. for an accountancy graduate, there is no way you can draw higher salary outside big4 doing the SAME kind of work - accounting / audit related. Don't bring irrelevant JD like investment banking / some sales and BD role since it's of no relation.

3yrs experienced senior associates in Big4 are drawing 5-6k, with 3yrs experience, they tried applying for commercial roles asking for a further 10% increment, which is approximately mid 6ks.

This is on top of the fact that they put 14-16hrs workday in big4 but only expected to put in 8hrs workday in commercial, with occasional OT due to month-end closing or other deadlines.

Essentially, if you do the math, they are going for a 2x in terms of salary (per hour) because of higher salary (10% increment) and shorter working hours (40% reduction)

And no commercial company in their right sense of mind will pay 6k++ for someone with 3years experience, do not know how to use ERP system, and cannot work like a workhorse. Want to coast a 40hr workweek "work-life balance"
Who is paying 3rd year auditors 5-6k? It's 4.8k-5k instead of 4.3k because frontloaded bonus. Don't inflate figures.
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  #12648 (permalink)  
Old 15-12-2023, 10:35 AM
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Who is paying 3rd year auditors 5-6k? It's 4.8k-5k instead of 4.3k because frontloaded bonus. Don't inflate figures.
3 years experience = 4th year auditor = SA2

5.5k is correct.
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  #12649 (permalink)  
Old 15-12-2023, 10:49 AM
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Originally Posted by Unregistered View Post
Hi everyone, if you guys feel jaded about peak let me share with you my journey

2009: Joined Big 4 as an Audit Associate
2011: Promoted to Audit Senior
2013: Promoted to Audit Assistant Mgr and seconded to NYC
2018: Promoted to Audit Senior Mgr
2021: Promoted to Audit Partner

I am not a high flyer per se however I am not the kind that seeks for instant gratification. Many of my peers left big 4 which creates an opportunity for me to rise up to partnership. One would be sensible to press on when everyone else leaves because it would mean less competition for partnership.

I understand that peak is tough for you guys, but every dark clouds have a silver lining and look at the bright side. Big 4 is the only place that could provide you with lateral career trajectory, which translates to faster promotion and higher increments annually. During these 12 years of my career, there were many headhunters poaching me with lucrative offers. However, I rejected all these offers as my approach to career has always been a “long term investor” rather than a “short term trader”. Big 4 is equivalent to US stock market where there are many ups and downs throughout. However, if you are able to weather through all this hardships you will see lucrative gains and huge positive impact to your career as well as your life.
I agree, that's why I tell everyone around me with self-respect to avoid audit entirely as a career and go straight to accounting or FP&A or banking or deals advisory or consulting. The only selling point is of audit is "mf is so ugly until nobody want him so if you are willing to torture your eyes every day to kiss him you won't have much competition" as you can see from above. If it's my mortal enemy then I will encourage them to join audit so that they will become bald by 40.

For accounting, at the same pay, you work half the hours and have much more exit options. For everything else, you OT less than auditors but your pay still higher. Heck even for Big 4 deals, we don't meet "corporate targets" while audit does but our bonus is still fatter than yours because our base is higher. We also get catered events while you get DIY food events. And our exit options after 3 years is fantastic because our skills are actually useful unlike audit. There is a reason why we can continuously get first/upper second class talents from top schools while audit have to resort to hiring from cmi schools (sorry, your partners call it "diversity" in candidates but we all know why).

So proud of my uni alumni for advising current students against joining audit. Need to open up their eyes or they'd be conned by Big 4 marketing department and their fantastical 20% (it's only 10% after 4 years. Why not join advisory straight and you get that extra 10% right off the bat, no cramming while OTing needed). Everytime I hear some bright top uni student say they wanna join audit to learn about businesses I will tell them there are other options where you can actually do so.

Just don't join chinaman SME firms. I don't know why these clown partners always say if you don't go big 4 audit you'll be left with nothing but chinaman SME firms.
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  #12650 (permalink)  
Old 15-12-2023, 10:52 AM
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which firm 5.5k? we only get 5.3k here
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