Q: Big4 - Yearly salary increment

Originally Posted by Unregistered

No la not the apps in phone.
APP: Accelerated pathway programme for the current undergrads in 5 local uni towards CA Sg.
I.e. 2 exemptions of module + can go clear another 2 modules during uni course of study.
Basically, after grad from uni is only left w capstone module + 3 year ATO working experience to CA sg.

Very good discount and complement to uni course of study for current undergrad.

But this three year ATO requirement, most will still have to work in B4 or other accounting firms, right?

Long hours and lower starting pay. It seems like this measure will only provide more resources for the acc industry. Nothing is done to improve working life or pay of the fresh graduates?

Cost of education, cost of ISCA membership, but receive only $3.6k upon graduation ?

I doubt that pay will increase, esp with the mass hiring of ft and the outsourcing of work.

Just as raising pay for accountants should be a last resort, most people would choose accounting as their last resort.

Originally Posted by Unregistered

It already is …
BCC since 2020/2021 intake from the IGP
Maybe it will get better with the new measures

If the industry dun change, not many new intakes will just because of this go join Acc.
It will still be the same, just more possible to get the ca sg but stuck 3 yr at b4?

So...
Cpa aust & acca (soon?) = mra
Local undergrad = 2exemptions + accelerated pathway
Local Grad from 2022 = 2 exemptions
Local Grad before 2022 = die fighting all 5 papers or at most exempted TX if lucky.

Basically grad before 2022 is seen as mediocre compared to everyone else but the exact reason why scaq failed. Yet nothing was done to help these grad make things better.

Originally Posted by Unregistered

So...
Cpa aust & acca (soon?) = mra
Local undergrad = 2exemptions + accelerated pathway
Local Grad from 2022 = 2 exemptions
Local Grad before 2022 = die fighting all 5 papers or at most exempted TX if lucky.

Basically grad before 2022 is seen as mediocre compared to everyone else but the exact reason why scaq failed. Yet nothing was done to help these grad make things better.

You missed the most shiok one which is my batch. Grad in 2011.

5 days pre admission course + 3 years in any small accounting firm settled.

Originally Posted by Unregistered

You missed the most shiok one which is my batch. Grad in 2011.

5 days pre admission course + 3 years in any small accounting firm settled.

Grad in 2011 what you doing here?

13 YOE where got time to come this forum on a Saturday?

Originally Posted by Unregistered

You missed the most shiok one which is my batch. Grad in 2011.

5 days pre admission course + 3 years in any small accounting firm settled.

Old folks home club. haha

Originally Posted by Unregistered

so this will attract more aaa students and make accounting prestigious again ?

Lol how will accounting ever be prestigious when it continues to pay less than half of what the actual prestigious courses pay?

Look at computer sci. It used to be a degree for chao sng bbfa nerds. Those kind who became programmers stuck working in a back room and shunned by relatives during CNY while their cousins who studied acc and went B4 were the family's pride and joy. Now role reversal liao all those cs grads act machiam like Wolf of Wall Street bankers while B4 become shunned low class

All these measures are just putting lipstick on a pig. End of the day still a pig.

Originally Posted by Unregistered

Lol how will accounting ever be prestigious when it continues to pay less than half of what the actual prestigious courses pay?

Look at computer sci. It used to be a degree for chao sng bbfa nerds. Those kind who became programmers stuck working in a back room and shunned by relatives during CNY while their cousins who studied acc and went B4 were the family's pride and joy. Now role reversal liao all those cs grads act machiam like Wolf of Wall Street bankers while B4 become shunned low class

All these measures are just putting lipstick on a pig. End of the day still a pig.

i like ur analogy of ur last sentence. Savage.

Originally Posted by Unregistered

Lol how will accounting ever be prestigious when it continues to pay less than half of what the actual prestigious courses pay?

Look at computer sci. It used to be a degree for chao sng bbfa nerds. Those kind who became programmers stuck working in a back room and shunned by relatives during CNY while their cousins who studied acc and went B4 were the family's pride and joy. Now role reversal liao all those cs grads act machiam like Wolf of Wall Street bankers while B4 become shunned low class

All these measures are just putting lipstick on a pig. End of the day still a pig.

Exactly. All the so-called prestige is just about which job pays the most. If audit paid 10k per month you'll see all the dean listers and overachievers acting like it's the coolest job on earth.

I think the biggest problem in the accounting industry is because of the low pay.

It is mandatory for companies to get audited. It is a process where all the audit firms will fight for the clients, hence offer lower pricing for their clients. With low pricing, it means the audit firms have to use lower manpower to sustain their profit margins.

All the audit firms will keep fighting to squeeze their manpower to ensure more attractive pricing for their clients.

However, in consulting it is different. Consulting can pay more because of the idea and solution they sell. It is more like a sales job. People are willing to pay for a solution rather than a process of complying with the regulatory requirement.

Accounting grads are not usually hired as an accountant immediately. They have no relevant experience in such commercial roles. Therefore, most of them went into audit.

This is a sunset industry because there is no way that audit firms will raise the salary. Else, the audit fee will be higher, and the client might just switch audit firms.

The only way is to have a minimum wage requirement for a per hour of work basis. I dont think the government will impose such regulation.

So, some accounting grads just move to other areas out of accounting as other area pays well. U seldom see NUS accounting students in B4, because they find greener places. They are the AAA/C people. They are smart.

It boils down to the meritocracy again. You have to work harder in sch to get out of the accounting industry. People hire accounting grads in other fields too. Just how much effort u willing to put in.