Q: Big4 - Yearly salary increment

Originally Posted by Unregistered

Just let it be la.

Gen Z has their own mindset and culture and they are entitled to choose the jobs that can meet their expectations.

But i see goon du take up the accting scholarship in poly etc.
Wa knn future gone. Result good 1 go take accting.

Originally Posted by Unregistered

But i see goon du take up the accting scholarship in poly etc.
Wa knn future gone. Result good 1 go take accting.

It’s not over. Can change course when enrolling in uni as long as cgpa > 3.9/4

The only seniors left this year will either be the foreigners waiting for their PR getting approved, or those who just love audit waiting to become partner

The underlying issue on why audit industry in Singapore is facing these issues is mainly the structure of big 4s are too top-heavy. Due to the LLP structure, all the partners are just accumulating at the top, expecting their salaries to rise 5% yearly while not bringing in more business for the firm. They can’t be removed as well as they are technically the owners of the firms. No point fighting among yourselves for an issue that the govt can’t even handle…

For SCAQ, they are just a joke and making CA title completely worthless. Requirements constantly changing just for them to hit their quotas. Increasing salary and giving exemptions to fresh grads to give them the incentive to start on SCAQ. But the 3 years practical experience requirement is the real KPI that they are looking at to keep us fresh grads stuck in big 4 to do audit.

If ISCA purely wanted more CAs, then I look forward to them reducing the 3 year requirement. Since they already given more exemptions, candidates should take a shorter time to complete CA right? REDUCE THE RPEC REQUIREMENT

For ppl thinking of studying accountancy, don’t

Originally Posted by Unregistered

The underlying issue on why audit industry in Singapore is facing these issues is mainly the structure of big 4s are too top-heavy. Due to the LLP structure, all the partners are just accumulating at the top, expecting their salaries to rise 5% yearly while not bringing in more business for the firm. They can’t be removed as well as they are technically the owners of the firms. No point fighting among yourselves for an issue that the govt can’t even handle…

For SCAQ, they are just a joke and making CA title completely worthless. Requirements constantly changing just for them to hit their quotas. Increasing salary and giving exemptions to fresh grads to give them the incentive to start on SCAQ. But the 3 years practical experience requirement is the real KPI that they are looking at to keep us fresh grads stuck in big 4 to do audit.

If ISCA purely wanted more CAs, then I look forward to them reducing the 3 year requirement. Since they already given more exemptions, candidates should take a shorter time to complete CA right? REDUCE THE RPEC REQUIREMENT

For ppl thinking of studying accountancy, don’t

Basically, young people just don't want to be tied down or bond or threatened with 3 years.

But 3 years very fast gone what

Gov throw $15m and audit firm increase salaries for A1 to $4.1K

Is like saying "Limpeh throw money" = see people want to join or not?

Is really a display of arrogance!

Remind of our water experts. If many people are using water, simple!! just increase the water tax lor...see people still dare to use so much water or not?

Is like playing with numbers

Dump $15m = increase 100 people join audit industry
Dump $30m = increase 200 people join audit industry
Dump $45m = increase 300 people join audit industry
Dump $70m = increase 400 people join audit industry

Originally Posted by Unregistered

Basically, young people just don't want to be tied down or bond or threatened with 3 years.

But 3 years very fast gone what

I’m OP. I do audit 3 years look like 35 years old alr.😭

Originally Posted by Unregistered

lol In Singapore, it’s a cost strategy. Clients will just choose the lowest fee. If a firm increases its fee, next year they may change auditors.

Audit firms will usually keep those low-margin clients. Staff on these kinds of engagements have to work overtime a lot because the bookings are usually shorter.

Bookings are already getting shorter and shorter this year, that's why the peak was unusually bad. Resignation, hiring freeze, hired people can't come in because MOM reject their EP application, existing staff EP renewal not approved... This is a very bad year, which is why they bothered "raising pay". It's so bad that I resigned without a job in line.

Originally Posted by Unregistered

But still alot people still exit leh

I see my friends in Big4 all exit without care

before 2023, ez pz. from 2023 onw, good luck

Originally Posted by Unregistered

Bookings are already getting shorter and shorter this year, that's why the peak was unusually bad. Resignation, hiring freeze, hired people can't come in because MOM reject their EP application, existing staff EP renewal not approved... This is a very bad year, which is why they bothered "raising pay". It's so bad that I resigned without a job in line.

Huh i want join big 4 leh. As mgr of cos.

Big 4 is the future