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Q: Big4 - Yearly salary increment

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  #12991 (permalink)  
Old 25-12-2023, 11:13 PM
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The older partners are just looking forward to retirement and I imagine would be very hesitant to push any big changes, especially if those investments will only generate returns in a future where they aren't around anymore.

The younger partners do see more long-term and have been garnering support among themselves to make changes.

PricewaterhouseCoopers was able to garner enough Partners' support to approve a USD $1billion investment in generative artificial intelligence technology in its U.S. operations over the next three years, working with Microsoft Corp. and ChatGPT-maker OpenAI to automate aspects of its tax, audit and consulting services.

Meanwhile, KPMG plans to invest $2 billion in artificial intelligence and cloud services across its business lines globally over the next five years through an expanded partnership with Microsoft. Through the new investment, the roughly 265,000-person company will further automate aspects of its tax, audit and consulting services, aimed at enabling employees to provide faster analysis, spending more time on doling out strategic advice and helping more companies integrate AI into their operations.

So it's not like the Partners are unaware of issues and just shaking leg waiting for money to come in. But the toughest part of a working in a Partnership is getting enough Partners support to move forward.

Just look at EY - a long project to split consulting / tax / audit failed to go through after partners, particularly in the US, disagreed on the compensation and resources needed for the audit practice.

It's not as easy as having 1 CEO who makes all the decisions. The power is split between the Partners.
Is that a US-side thing? We often don't get things that they get in the US and EU. Partners are gushing about Australia now that some SMs returned from their AU secondment but all they got from that is "analytics" somehow and "outsourcing to India". (I've worked in Australia and honestly their work hours is shorter mainly because client is capable and data is clean, unlike in SG)

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  #12992 (permalink)  
Old 25-12-2023, 11:53 PM
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The older partners are just looking forward to retirement and I imagine would be very hesitant to push any big changes, especially if those investments will only generate returns in a future where they aren't around anymore.

The younger partners do see more long-term and have been garnering support among themselves to make changes.

PricewaterhouseCoopers was able to garner enough Partners' support to approve a USD $1billion investment in generative artificial intelligence technology in its U.S. operations over the next three years, working with Microsoft Corp. and ChatGPT-maker OpenAI to automate aspects of its tax, audit and consulting services.

Meanwhile, KPMG plans to invest $2 billion in artificial intelligence and cloud services across its business lines globally over the next five years through an expanded partnership with Microsoft. Through the new investment, the roughly 265,000-person company will further automate aspects of its tax, audit and consulting services, aimed at enabling employees to provide faster analysis, spending more time on doling out strategic advice and helping more companies integrate AI into their operations.

So it's not like the Partners are unaware of issues and just shaking leg waiting for money to come in. But the toughest part of a working in a Partnership is getting enough Partners support to move forward.

Just look at EY - a long project to split consulting / tax / audit failed to go through after partners, particularly in the US, disagreed on the compensation and resources needed for the audit practice.

It's not as easy as having 1 CEO who makes all the decisions. The power is split between the Partners.
my bro is a partner and he's young but i'd still advise my friends to run. it's a lip service thing, **** you got mine i suffered so you should too mentality is still very much at play.

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  #12993 (permalink)  
Old 26-12-2023, 12:56 AM
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Is that a US-side thing? We often don't get things that they get in the US and EU. Partners are gushing about Australia now that some SMs returned from their AU secondment but all they got from that is "analytics" somehow and "outsourcing to India". (I've worked in Australia and honestly their work hours is shorter mainly because client is capable and data is clean, unlike in SG)
The first mistake everyone makes, especially outsiders and fresh grads, is assuming that each Big 4 is one large unified global firm with 100s of thousands of people.

Actually, it is merely a network of national firms that share branding, some common systems, and some information. They are pretending to be a single global entity only.

So, whatever amazing AI, data analytics or whatnot efficiency initiatives that US, Australia or other Big 4 in developed first-world Western economies wanna do, has very little relevance to Singapore Big 4.

In Singapore, Big 4's tried-and-tested cost efficiency initiative is basically to hire more cheap JHKs to do twice the work for half the pay.

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  #12994 (permalink)  
Old 26-12-2023, 01:09 AM
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then I must say you lack foresight. girls who managed to become partner / SM one day will have the financial ability to reverse their looks through cosmetics and skincare products.

those that are youthful in your opinion now, may not have the financial ability to do so when their biological age catch up on that.

jokes on you
so only 1% or less of those in offce can reverse their looks? and it only happens when they become partner/SM? that sounds like a good deal to me.

u think aging is reversible? if not why late LKY wife, LHL wife ho ching, don't look like xmm now?

seems like you should join big 4 to be the first to show me what a young auditor looks like
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  #12995 (permalink)  
Old 26-12-2023, 01:11 AM
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lol the auditor guys are no where better, lagi worse. Havenít reach 30 alr balding, protruding belly with chaosng smell. Some just came in 2 months as fresh grads alr looking like in their late 30s. Less than $6k monthly salary for all these really worth it?
Yea. and balding girls too.
most cannot reverse even if you have money.
thats what lack of sleep, long hours, high stress and a lack of balanced lifestyle leds to

if you are ok with being friends with JHK, come join big 4, locals are the minority once u hit senior


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  #12996 (permalink)  
Old 26-12-2023, 01:21 AM
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lol what audit quality?
go back malaysia lah. we dont need u JHK to bring down our audit quality
its already very low due to those JHK broken english and low quality uni like tunku sunway multimedia and what not.
Dog sia, ask mi go be jhk.
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  #12997 (permalink)  
Old 26-12-2023, 01:30 AM
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Where to go now. Accoutancy no future
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  #12998 (permalink)  
Old 26-12-2023, 04:53 AM
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Where to go now. Accoutancy no future
you go big 4 for branding, and then what?

I tell you, when you come out, your options are accountant (90% is JHK inside) and u post double entry all your life, every month you have to deal with closing, every year you have to deal with auditors. And if your company poor internal controls, your closing will be more difficult because those AR/ AP executive (100% is JHK or auntie) with no degree or half acca, anyhow post one. You think u can become FM if you stay long? It is traumatizing, especially if the CFO is incompetent.

Don't tell me you suddenly can become consultant or what ****, it doesn't work that way. Audit is low value. Just because you get to see the whole financial chain, doesn't mean it justifies your high salary as an accountant. Those companies would rather hire a cheap SME JHK accountant and not you. You don't have commercial experience, you don't know how to use accounting system.

You can try farm your way to be audit manager, and you leave then what?
You think every company need how many FM? even if you become FM, that is where sh1t begins. You have to deal with incompetent JHK in commercial. Culture is toxic as small firm people less educated and think you owe them money. They don't take pride in their work.

Don't make the same mistake as me.
Local students, think twice before you join the big 4. There is no more prestige as it used to be. Exit opportunities are less, especially since the previous batch of JHK have filled those exiting places by now. Salary have been low balled all the way from audit to commercial.

The only way you can fix that is to not join a big 4. Your life gets worst as you promote.
Dont waste your life away like i did. Watching as my parents grow older while I OT everyday from 9 to 2am. And mind you, there is no difference between peak and off peak period now as manpower shortage can change your off peak to a peak. If u care about your own mental health and body, dont start at a big 4. If you care about getting married or have a love life, dont start at a big 4. If you spend your youth grinding for little gains since exit opportunities are low now, you will never meet your significant other.
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  #12999 (permalink)  
Old 26-12-2023, 08:00 AM
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Where to go now. Accoutancy no future
U started stuyung already or not? Not yet then dont choose accounting. If 2nd year then change course bah if final year then go crash course some tech and do ERP or DA.

Why? Because niw is supposed tj be offpeaj and hols but i an still workjng. Cautionary tale.
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  #13000 (permalink)  
Old 26-12-2023, 08:29 AM
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The first mistake everyone makes, especially outsiders and fresh grads, is assuming that each Big 4 is one large unified global firm with 100s of thousands of people.

Actually, it is merely a network of national firms that share branding, some common systems, and some information. They are pretending to be a single global entity only.

So, whatever amazing AI, data analytics or whatnot efficiency initiatives that US, Australia or other Big 4 in developed first-world Western economies wanna do, has very little relevance to Singapore Big 4.

In Singapore, Big 4's tried-and-tested cost efficiency initiative is basically to hire more cheap JHKs to do twice the work for half the pay.
Because that's what they claim during townhall, AI analytics efficiency that, so all the clueless uninvoled people and juniors believe them. Young partners are no different from old partners. Sinkie pwn sinkie is a national trait across generations. Everyone has friends who are proponents of cheap HDBs unil they got their BTO then suddenly they are proponents of high propety prices.

How to expect improvement from leeches when they didnt even raise pay during the literal crisis during covid border closure? Frontloading bonus as basic doesnt count as increased pay.


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