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Q: Big4 - Yearly salary increment

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  #1481 (permalink)  
Old 22-05-2021, 03:55 PM
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I hope everyone can be more responsible when posting. I have worked in Big4, Foreign Bank and local bank. There is always this misconception that foreign bank salary is better than local bank and local bank salary is better than Big4. This is a huge misconception for MO and BO.

I believe for IB, PB and Trading, Foreign Bank does pay better than Local Banks. But for MO and BO, ie Risk Management, Compliance, Audit, Technology and Operations, the pay is comparative. As local bank has higher bonus and they can matched foreign bank salary, someone who worked in local bank can essentially earn more than foreign bank in terms of total income.

Another misconception is that people thinks if u join a Grad Program, u are better than those who joined direct. Or ppl who joined foreign bank has better prospect than Local Bank. Big 4 being the worse of all. Having worked for substantial years in the banking industry, I realised it doesnt matter whether u start out from big 4,local bank, foreign bank or grad program. Ultimately, is how opportunistic u are in jumping ship and being at the right place, right time.

I do know people who worked in big 4 who transit to local bank, being more successful than those who started from MAS with scholarship.i have also seen ppl from local bank jumping into foreign bank, climb faster than those who perpetually in foreign bank. So please stop this misinformation. Is all up to right place, right time. Whether u are in a grad program, from MAS, SGX, Big 4, started in local bank or foreign bank, doesnt really matter.

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  #1482 (permalink)  
Old 22-05-2021, 05:43 PM
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Originally Posted by Unregistered View Post
I hope everyone can be more responsible when posting. I have worked in Big4, Foreign Bank and local bank. There is always this misconception that foreign bank salary is better than local bank and local bank salary is better than Big4. This is a huge misconception for MO and BO.

I believe for IB, PB and Trading, Foreign Bank does pay better than Local Banks. But for MO and BO, ie Risk Management, Compliance, Audit, Technology and Operations, the pay is comparative. As local bank has higher bonus and they can matched foreign bank salary, someone who worked in local bank can essentially earn more than foreign bank in terms of total income.

Another misconception is that people thinks if u join a Grad Program, u are better than those who joined direct. Or ppl who joined foreign bank has better prospect than Local Bank. Big 4 being the worse of all. Having worked for substantial years in the banking industry, I realised it doesnt matter whether u start out from big 4,local bank, foreign bank or grad program. Ultimately, is how opportunistic u are in jumping ship and being at the right place, right time.

I do know people who worked in big 4 who transit to local bank, being more successful than those who started from MAS with scholarship.i have also seen ppl from local bank jumping into foreign bank, climb faster than those who perpetually in foreign bank. So please stop this misinformation. Is all up to right place, right time. Whether u are in a grad program, from MAS, SGX, Big 4, started in local bank or foreign bank, doesnt really matter.
In short, big 4 is basically the garbage chute for graduates.



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  #1483 (permalink)  
Old 22-05-2021, 05:43 PM
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Quote:
Originally Posted by Unregistered View Post
I hope everyone can be more responsible when posting. I have worked in Big4, Foreign Bank and local bank. There is always this misconception that foreign bank salary is better than local bank and local bank salary is better than Big4. This is a huge misconception for MO and BO.

I believe for IB, PB and Trading, Foreign Bank does pay better than Local Banks. But for MO and BO, ie Risk Management, Compliance, Audit, Technology and Operations, the pay is comparative. As local bank has higher bonus and they can matched foreign bank salary, someone who worked in local bank can essentially earn more than foreign bank in terms of total income.

Another misconception is that people thinks if u join a Grad Program, u are better than those who joined direct. Or ppl who joined foreign bank has better prospect than Local Bank. Big 4 being the worse of all. Having worked for substantial years in the banking industry, I realised it doesnt matter whether u start out from big 4,local bank, foreign bank or grad program. Ultimately, is how opportunistic u are in jumping ship and being at the right place, right time.

I do know people who worked in big 4 who transit to local bank, being more successful than those who started from MAS with scholarship.i have also seen ppl from local bank jumping into foreign bank, climb faster than those who perpetually in foreign bank. So please stop this misinformation. Is all up to right place, right time. Whether u are in a grad program, from MAS, SGX, Big 4, started in local bank or foreign bank, doesnt really matter.
In short, big 4 is basically the garbage chute for graduates!! Only garbage will come here

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  #1484 (permalink)  
Old 22-05-2021, 05:45 PM
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In short, big 4 is basically the garbage chute for graduates!! Only garbage will come here
Garbage is an overstatment. What's lower than garbage
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  #1485 (permalink)  
Old 22-05-2021, 07:48 PM
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Garbage is an overstatment. What's lower than garbage
Eh dont make fun of big 4 hor. If they not around, where will all the useless people go. In the future when automated, they cannot get box ticking jobs le
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  #1486 (permalink)  
Old 22-05-2021, 08:08 PM
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Eh dont make fun of big 4 hor. If they not around, where will all the useless people go. In the future when automated, they cannot get box ticking jobs le
True that. Can't believe undergrads willing to go big 4 to take home less than less than 3k salary each month LOL. Even haidilao waiter earn more
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  #1487 (permalink)  
Old 23-05-2021, 09:08 AM
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True that. Can't believe undergrads willing to go big 4 to take home less than less than 3k salary each month LOL. Even haidilao waiter earn more
How much haidilao waiter earn? 3k is too much for waiter.
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  #1488 (permalink)  
Old 23-05-2021, 09:49 PM
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Btw, don't generalise and mix Big 4 Audit with Big 4 Consulting. Especially within Big 4 Strategy Consulting (EY-Parthenon, Monitor Deloitte, Strategy&), there are some top talent around. Strategy Consulting routinely competes with talent from the Front Office of Investment Banks.


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  #1489 (permalink)  
Old 23-05-2021, 09:51 PM
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Btw, don't generalise and mix Big 4 Audit with Big 4 Consulting. Especially within Big 4 Strategy Consulting (EY-Parthenon, Monitor Deloitte, Strategy&), there are some top talent around. Strategy Consulting routinely competes with talent from the Front Office of Investment Banks.
EY-P and MD pay is 40% of BB FO so don’t even.
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  #1490 (permalink)  
Old 23-05-2021, 09:59 PM
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EY-P and MD pay is 40% of BB FO so don’t even.
Your data is inaccurate. There is no MD pay that is 40% of BB FO. You must have mistaken it for Deloitte Consulting (non-MD). MD pay starts in the ballpark of BB FO, requires MBA qualification, and don't hire bachelor's fresh grads.
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