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Q: Big4 - Yearly salary increment

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  #13081 (permalink)  
Old 27-12-2023, 06:26 PM
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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.

If you go IA, its so niche that there isn't much exit opportunities even if you have that experience. And only big companies require IA. If you dont have SOX reporting exposure during your big 4 years, you lose out even more.

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.

Do you think Singapore CA is of value? Its so new and uptake is so little. Do you think the 80% of JHK in big 4 has CA? yet they can still promote to manager. Why spend the next 3 years studying for CA while managing your big 4 commitments? The CA title doesn't even increase your salary for godsake. Got CA title already every year need to pay membership fee lol. Firm don't even pay for your exam fees (>1k per paper) unless you pass the exam.

If you are a girl, be ready to age 5 years just by doing audit for 2 years. Lack of sleep, lack of social life, lack of time for hobbies, you will be doing work during weekends throughout the year (unless you meet some insanely hardworking and competent senior). You can't even apply leave from Jan to June. If you were to go on holidays, you are sometimes expected to bring your laptop. I lost my identity by being in a big 4 for 4 years.
I had to suck up to malaysian seniors during my associate years. 9 out of 10 times, these malaysians will overload you so that they can chill and go back Msia on weekends. Just open your work allocation and you'd know. Your manager doesn't care to even review if the workload is fair, they just want work done. And you cannot afford to piss of these seniors as they will either badmouth u to the manager for being difficult to deal with. You'd risk your promotions and bonus during appraisals.

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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  #13082 (permalink)  
Old 27-12-2023, 06:43 PM
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I have a bit of a random question here.

Let's say my bonus is already paid (I have received the cash in my bank account) by 28 December. My company has no bonus clawback policy.

If I resign on 29 December, what will happen to the CPF contribution on my bonus, which will only be paid out in mid-January? Will the employer still be obligated to pay the CPF on the Additional Wages? Or can they choose not to pay the CPF because I have already resigned?

Any help on this would be appreciated!
Huh? Isn't this just a timing issue.

The CPF Act is quite clear. Bonus payments form part of wages and are therefore also liable for CPF contribution (both the employer's and employees' contribution component).

If there's no clawback, then they can't choose not to pay. It's illegal.

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  #13083 (permalink)  
Old 27-12-2023, 06:58 PM
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Since 2009 till today

From CPA Singapore to SQP to SCAQ
From ICPAS to ISCA
NTU Accountancy from AAA/B to BCC/B
NUS Biz Admin (Acct.) from AAA/B to AAB/B
SMU Accountancy from AAB/B to BBC/C

We have come a long way to witness the absolute decline of this entire field

2009:
s://.acra.gov.sg/docs/defaul...untancy-hub/cdaspublicconsultation_9dec09.pdf
s://.mof.gov.sg/news-publica...ngapore-into-a-Leading-Global-Accountancy-Hub

2010:
s://.mof.gov.sg/news-publica...ort-At-The-Inaugural-Singapore-Accountancy-Co
s://.sac.gov.sg/sites/sac2017/files/CDAS-FinalReport-12Apr10_0.pdf

2011:
s://.mof.gov.sg/news-publica...sport-At-The-Singapore-Accountancy-Convention

2012:
s://isca.org.sg/media/776285/2013-jan-landmark-year-begins-for-singapores-accountancy-sector.pdf

2013:
s://.sac.gov.sg/new-statutor...ategic-direction-accountancy-sector-and-drive
s://isca.org.sg/media/776265/2013-aug-singapore-accountancy-convention-2013.pdf
s://.acra.gov.sg/docs/defaul...y/public-accountants/CDASExecutiveSummary.pdf

2014:
s://sg.finance.yahoo.com/news/smu-launches-singapore-first-center-024800315.html
s://.mti.gov.sg/Newsroom/Spe...tancy-Conventions-ISCA-Accounting-Conference-

2015:
s://isca.org.sg/media/777160/si...nvention-2015-sponsorship-prospectus-v7-2.pdf

2016:
s://.nas.gov.sg/archivesonline/data/pdfdoc/20160317009.htm

2017:
s://.nas.gov.sg/archivesonline/data/pdfdoc/20171003004.htm

2018:
s://.accaglobal.com/sg/en/member/member/accounting-business/2018/01/insights/sing-2020.html
s://.sac.gov.sg/roadmap-develop-singapore-leading-global-accountancy-hub

2019:
s://.imda.gov.sg/-/media/Imd...tal-Plans/Accountancy-IDP/Accountancy-IDP.pdf
s://.businesstimes.com.sg/ba...countancy-sector-speed-up-technology-adoption

2022:
s://.straitstimes.com/singap...-redesigned-to-meet-digitalisation-challenges
s://.mof.gov.sg/news-publica...ccountancy-commission-since-inception-in-2013

2023:
s://.straitstimes.com/busine...-to-take-up-accountancy-and-change-boring-tag
s://.humanresourcesonline.ne...s-accountancy-sector-and-how-to-overcome-them
s://.businesstimes.com.sg/si...ce-consolidation-singapores-accounting-market
s://.businesstimes.com.sg/si...ody-launches-programme-local-foreign-students
s://.businesstimes.com.sg/working-life/how-do-we-make-accountancy-great-again-singapore
s://.channelnewsasia.com/adv...roblem-through-digital-transformation-3573696
s://.straitstimes.com/singap...-drive-up-s-pore-chartered-accountant-numbers

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  #13084 (permalink)  
Old 27-12-2023, 07:00 PM
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Huh? Isn't this just a timing issue.

The CPF Act is quite clear. Bonus payments form part of wages and are therefore also liable for CPF contribution (both the employer's and employees' contribution component).

If there's no clawback, then they can't choose not to pay. It's illegal.
Yes, this is just a timing issue.

This was my impression as well - as the cash component is already paid out; the CPF contribution has to be paid even if I resign before the CPF payment.

Thank you so much for the advice! You have given me peace of mind to resign asap.
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  #13085 (permalink)  
Old 27-12-2023, 07:08 PM
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Wth guys.. pwc mgr one guy go around secondary sch ask ppl join accountancy, CA. Wth i will break my child leg if they join accting. I want go sch complaint alrdy.. bad influence to young kids, want destroy their future.
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  #13086 (permalink)  
Old 27-12-2023, 07:20 PM
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But the problem is, why do we have so much competition with foreigners even in our home country. bloody malaysians stealing our rice bowl. diluting our salaries.

The audit partners destroyed the profession with their own hands. Its no wonder they have trouble hiring locals now, and have to settle for lousy malaysians that can't speak proper english.

Everytime i see my partner panic, i feel damn song. go home sleep well
Eh bro, donít ask me this kind of question. Do I look like the minister of manpower to you

Your country policies are set by your leaders elected through a democratic process leh.

Wanna complain also complain to the right person mah
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  #13087 (permalink)  
Old 27-12-2023, 07:25 PM
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Yes, this is just a timing issue.

This was my impression as well - as the cash component is already paid out; the CPF contribution has to be paid even if I resign before the CPF payment.

Thank you so much for the advice! You have given me peace of mind to resign asap.
Resign liao can shake leg during peak. Just go drink kopi while others chiong. They ask you OT you just awol since serving notice period liao
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  #13088 (permalink)  
Old 27-12-2023, 07:56 PM
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I ok taking orders from Malaysians.

More frustrating is when your senior is your JC classmate who is now 2 years ahead of you.

Seniors have too much power over associates. They control what time I report; what time I go lunch, what time I go home.
Wah u so suay ah kena this kind of senior. Idc what time my associates report to work or leave work, as long as they finish whatever they need to do for the day can alr. They finish by 5pm, I no other stuff for them to do I also ask them go back rest


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  #13089 (permalink)  
Old 27-12-2023, 08:25 PM
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Eh bro, donít ask me this kind of question. Do I look like the minister of manpower to you

Your country policies are set by your leaders elected through a democratic process leh.

Wanna complain also complain to the right person mah
diam lah jhk. malaysian woof woof

anyway don't forget to

1) Pay your rent on time because u are helping me pay for my million dollar condo while I rest in my HDB and travel overseas holiday

2) Pay your tax on time so that my economy and country can grow. SGD to the moon.

3) Be thankful we let you in, first class transportation, first class education, first class cleanliness, first class healthcare. It's better than being in your corrupted country that prioritizes malays.


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  #13090 (permalink)  
Old 27-12-2023, 09:58 PM
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But the problem is, why do we have so much competition with foreigners even in our home country. bloody malaysians stealing our rice bowl. diluting our salaries.

The audit partners destroyed the profession with their own hands. Its no wonder they have trouble hiring locals now, and have to settle for lousy malaysians that can't speak proper english.

Everytime i see my partner panic, i feel damn song. go home sleep well
they don't have trouble hiring dumb local students, lots of people don't believe audit doesn't have wlb. i've given up telling them, these gen z believe that they can "just log off at 7pm la" without any issues. let these stupid A1 and A2 lead the interns since there's no more hiring of seniors despite all the resignation.
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