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Q: Big4 - Yearly salary increment

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  #12951 (permalink)  
Old 24-12-2023, 10:09 AM
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Law partners starting 200k+ and 6-7 years can become partner already, but earnings potential can be 10x to 20x of audit MD. Earnings is % of deal size AND actual hours unlike audit after all.

Audit partner starting low 200k after like 15 years at least, local MD only 1m-2m. Own firm need to offer corpsec as well to earn more but no multiple 10m penthouse at NYC London Roppongi Sydney.

Source: relatives who are current partners in different fields advising the kids in our family what to get into. Accounting is one to avoid lol. Only do advisory if bo bian no other offers or as internship as stepping stone.
Facts.

But of course u are comparing an AAA course with a BCC course. If the gov were to open doors for malaysians to be lawyers than any occupation is screwed. Of cos law has a higher barrier of entry and you'd expect our dumb malaysians to not be able to speak proper english to qualify for that, rest assured

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  #12952 (permalink)  
Old 24-12-2023, 01:26 PM
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SG is a meritocracy country, to be the best/earn more than the rest, of course u need to have CA , which is hard to get now
I agree with the meritocracy part.

But instead of studying after you graduate, the idea should be to study harder when you’re younger, and do well for A levels.

Still playing the studying game at 25 is really too late in my opinion.

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  #12953 (permalink)  
Old 24-12-2023, 01:52 PM
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Law partners starting 200k+ and 6-7 years can become partner already, but earnings potential can be 10x to 20x of audit MD. Earnings is % of deal size AND actual hours unlike audit after all.

Audit partner starting low 200k after like 15 years at least, local MD only 1m-2m. Own firm need to offer corpsec as well to earn more but no multiple 10m penthouse at NYC London Roppongi Sydney.

Source: relatives who are current partners in different fields advising the kids in our family what to get into. Accounting is one to avoid lol. Only do advisory if bo bian no other offers or as internship as stepping stone.
A typical A&G Wong Partnership R&T junior partner takes about 7-8 years to get that role. And that's only a salaried role mind you. Basically a 'senior senior associate'. They draw about 16-17k pm, which adds up to around what you mentioned ~200k. The heirarchy in law firms is quite flat and they usually don't have all the bulls**t intermediate ranks like Manager, SM, Director, etc.

Full equity partner takes about 15 years for average performers. The lowest rung on the equity partnership easily draws around ~400-450k and above p.a. The top end? The sky's the limit. Think K Shanmugam or Davinder Singh levels ~$4m to $5m p.a. in the Singapore market

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  #12954 (permalink)  
Old 24-12-2023, 02:01 PM
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Come in see see look look laugh at the children trying to compare law and accounting
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  #12955 (permalink)  
Old 24-12-2023, 03:58 PM
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The big 4 quality drop tremendously when jhks are no longer required to drop 2 ranks to join sg big 4
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  #12956 (permalink)  
Old 24-12-2023, 05:36 PM
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The big 4 quality drop tremendously when jhks are no longer required to drop 2 ranks to join sg big 4
Yea i asked a partner and they agree thats most JHK are atrociously cmi.
some even ban their downline from booking certain JHKs.
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  #12957 (permalink)  
Old 24-12-2023, 05:56 PM
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most of those kena PIP are JHK.
partner will purposely ask manager book them for shitty portfolio jobs so they no choice but to leave

if its cui jhk manager, partner will target by not giving sufficient staffing/ give them new joiners or low rating workers. and also require the jhk managers to do AWP. at the end of the day, they still ask the manager to raise audit fee despite the lack of manpower allocated to the job
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  #12958 (permalink)  
Old 24-12-2023, 06:02 PM
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Come in see see look look laugh at the children trying to compare law and accounting
Years ago the brightest students who can do maths joined accounting, the ones who can't joined law. The cmi ones joined CS. Thank the govt for allowing cheap labour to take over a professional industry. You're lucky lawyers are more passionate activists who at least believe in some semblance of human rights compared to accounting partners who believe in milking fellow humans to their last drop. Did you know law partners actually agreed to raise new joiners pay to 7k because people complained no wlb low pay? Audit partners just slashed bonus and say uhh we increased pay by 300
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  #12959 (permalink)  
Old 24-12-2023, 06:10 PM
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Years ago the brightest students who can do maths joined accounting, the ones who can't joined law. The cmi ones joined CS. Thank the govt for allowing cheap labour to take over a professional industry. You're lucky lawyers are more passionate activists who at least believe in some semblance of human rights compared to accounting partners who believe in milking fellow humans to their last drop. Did you know law partners actually agreed to raise new joiners pay to 7k because people complained no wlb low pay? Audit partners just slashed bonus and say uhh we increased pay by 300
please. they went around announcing the 20% raise for CA, milked all the publicity they could, and then canceled it without announcing in the news of course.

i thought i was dreaming when i first saw the news. turns out i was.
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  #12960 (permalink)  
Old 24-12-2023, 06:21 PM
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most of those kena PIP are JHK.
partner will purposely ask manager book them for shitty portfolio jobs so they no choice but to leave

if its cui jhk manager, partner will target by not giving sufficient staffing/ give them new joiners or low rating workers. and also require the jhk managers to do AWP. at the end of the day, they still ask the manager to raise audit fee despite the lack of manpower allocated to the job
Can share some insights why the partners want to even hire them?

Isit during that time lack manpower, they desperate and hire jhk cause they thought same quality?

I think even some private degree sgreans can perform btr if you know how to filter them during interviews
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