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Q: Big4 - Yearly salary increment

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  #16041 (permalink)  
Old 23-04-2024, 11:23 PM
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Itís just a cycle.

I hated my managers when I was associate.
Now I understand how much things behind the scenes the managers did and how much they protected us.

They will grow out of it, but a new batch will come in with the same complains.
Please name what you actually do instead of just throwing words around

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  #16042 (permalink)  
Old 23-04-2024, 11:42 PM
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Is it even worth it to endure the 3 years in audit?

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  #16043 (permalink)  
Old 23-04-2024, 11:51 PM
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Hello senior. Iíve always been curious about your generation.

Can explain why your days people who studied hard would willing choose to go accounting? Whatís so attractive about the long hours and relatively non competitive starting salaries?
Yea, Iím also curious.

What are the work ethics of this generation of people? Do they see their efforts being rewarded? Do they feel proud of their job (auditor, accountant, etc.)? Did they choose accounting because itís a stable job or prestigious back then?

And did they regret it now?

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  #16044 (permalink)  
Old 24-04-2024, 12:16 AM
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I was one of those AAA students who applied for Accounting in 2015 but only joined in 2017 due to NS. I blame it on my lack of awareness and motivation during NS that I was unaware that Accounting became a sh1+ course over that short period. Ended up joining audit following the typical route that most ppl take.

Spent 3 years in EY and got my CA. Throughout the 3 years I was very unmotivated due to the low pay and bad wlb. However, I learnt a few impt workplace skills that helped me to survive the 3 years and even got 1 year of high performer (lol). The most impt one I learnt from my ex-senior is ďManage upwardsĒ. Set your expectations with your bosses and set up boundaries. I know it is easier said than done with all those b4std managers in EY but you need to take a step away from work and reconsider your life priorities. This is just a job, nothing worth sacrificing your health for!

On the issue of msians working in audit in SG, I feel that it is a normal business decision needed for audit firms to even operate. However, they do get the short end of the stick when moving on to other non-audit roles. So as local grads in the accounting profession, make use of the advantage you have and leave when the time is right. We may have made a bad decision studying accounting but we can still make better decisions going forward.

Okay not even sure what I wanted to say anymore but 加油把公司干倒闭!
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  #16045 (permalink)  
Old 24-04-2024, 02:39 AM
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Hello senior. Iíve always been curious about your generation.

Can explain why your days people who studied hard would willing choose to go accounting? Whatís so attractive about the long hours and relatively non competitive starting salaries?
Not OP, but I'll add my 2 cents. CS jobs paid like crap before the pandemic. It's the course to take if you can't study. Data and business analysts weren't as cushy as it is now. You either take accounting if you're good with numbers or law if you aren't if you want to afford a condo even though you're not super brilliant.

Exits for auditors back then is quite good. My batchmates went to investment banking, strategy and management consulting, corporate banking, senior FP&A analyst, risk analyst, research analyst, and so forth which paid very well and they're already hitting 5 figures after barely a few years into their career. Obviously consulting is dead at the moment so that's already one lucrative exit gone.
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  #16046 (permalink)  
Old 24-04-2024, 08:05 AM
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Not OP, but I'll add my 2 cents. CS jobs paid like crap before the pandemic. It's the course to take if you can't study. Data and business analysts weren't as cushy as it is now. You either take accounting if you're good with numbers or law if you aren't if you want to afford a condo even though you're not super brilliant.

Exits for auditors back then is quite good. My batchmates went to investment banking, strategy and management consulting, corporate banking, senior FP&A analyst, risk analyst, research analyst, and so forth which paid very well and they're already hitting 5 figures after barely a few years into their career. Obviously consulting is dead at the moment so that's already one lucrative exit gone.
Howís the exit now to fpa from audit ?

What are the requirements? CA, minimal 3 years experience ?
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  #16047 (permalink)  
Old 24-04-2024, 08:38 AM
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Not OP, but I'll add my 2 cents. CS jobs paid like crap before the pandemic. It's the course to take if you can't study. Data and business analysts weren't as cushy as it is now. You either take accounting if you're good with numbers or law if you aren't if you want to afford a condo even though you're not super brilliant.

Exits for auditors back then is quite good. My batchmates went to investment banking, strategy and management consulting, corporate banking, senior FP&A analyst, risk analyst, research analyst, and so forth which paid very well and they're already hitting 5 figures after barely a few years into their career. Obviously consulting is dead at the moment so that's already one lucrative exit gone.
When did you grad? I grad about a decade ago and didnít see this good opps lol
And I think a correction, good with numbers go to med AND law, and then those who didnít make it come to accounting
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  #16048 (permalink)  
Old 24-04-2024, 08:52 AM
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When did you grad? I grad about a decade ago and didnít see this good opps lol
And I think a correction, good with numbers go to med AND law, and then those who didnít make it come to accounting
Med law is book smart, plus protected industry from foreigners. Doctors will never be unemployed. Very few lawyers will be unemployed unless they majorly screw up their careers. Once one is in it, it's a protected industry with pay ranging from higher than norm, to virtually unlimited (private consultant doctors, and law equity partners).

Accountant for those book smart, but unambitious. If ambitious would hv done loads of internships case competitions during uni and went to finance or consulting alr. Most accountant/audtiors need structure and clear path laid before them, that's why Big4 was the easiest choice. Alas, the field is devalued by Big4 hiring lots of Malaysians, which waters down the quality and prestige.

CS/tech is really skill based, moreso than other industries. A real meritoctacy .If you can beat off competition from India, China and the best in the region, the sky is the limit in terms of pay and progression. If you're mediocre, its very very tough.
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  #16049 (permalink)  
Old 24-04-2024, 09:14 AM
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Actually people in 30s and 40s really need to rely young generation in 20s meh??

Why people in 40s to 60s keep say they need young people join them?
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  #16050 (permalink)  
Old 24-04-2024, 09:19 AM
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I'm considering not voting for the PAP in the upcoming general election due to challenges I have encountered in the audit industry and issues related to the non-recognition of ACCA qualifications by ISCA through the RMA pathway.

Do you think I should vote for the opposition party?
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