Q: Big4 - Yearly salary increment

hows the job search situation for FS people now?

Originally Posted by Unregistered

Yes can confirm at least one of the B4 does provide employer CPF portion in cash if you are not local.

I thought all big 4 provide?

Originally Posted by Unregistered

2 decades ago when my uncle was in big 4, every year without fail all my relatives will look at him like he’s god tier level during cny gathering. 2 decades later when I’m in big 4, all my relatives laugh at me and ask me how’s it like working with tonkatsu cert grads during cny gathering

10 years ago… u have to get AAA/A and at least from the big 3 uni to get into big 4

Nowadays u can be BCC/D and without a degree

The standard keeps dropping and to be fair those street smart people rather go be real estate agent and insurance agent . So u kind of expect the book worm and stupiak ones to leave behind and slave their way thru audit

Originally Posted by Unregistered

10 years ago… u have to get AAA/A and at least from the big 3 uni to get into big 4

Nowadays u can be BCC/D and without a degree

The standard keeps dropping and to be fair those street smart people rather go be real estate agent and insurance agent . So u kind of expect the book worm and stupiak ones to leave behind and slave their way thru audit

Honestly these days the only smart associates and seniors I still see in audit are those grew-up-poor ones from Malaysia. Probably no one to guide them since they don't have a r/SGExams equivalent over there and they don't have many good local career options that don't require connections (even banking, O&G needs connections lol and their local tech pay is so bad unless it's remote or super specialized)

Originally Posted by Unregistered

Honestly these days the only smart associates and seniors I still see in audit are those grew-up-poor ones from Malaysia. Probably no one to guide them since they don't have a r/SGExams equivalent over there and they don't have many good local career options that don't require connections (even banking, O&G needs connections lol and their local tech pay is so bad unless it's remote or super specialized)

They are the support pillars of our audit sector. Without them, our audit sector would collapse. Currently, locals are the minority, less than half of the seniors and managers are locals.

Originally Posted by Unregistered

2 decades ago when my uncle was in big 4, every year without fail all my relatives will look at him like he’s god tier level during cny gathering. 2 decades later when I’m in big 4, all my relatives laugh at me and ask me how’s it like working with tonkatsu cert grads during cny gathering

recently left, dont hate audit, dont hate the hours, hate the fact that management is doing nothing to maintain the quality of the profession. a lot of politcal bs at the very top.

senior partners got very little incentive to change status quo because any change affect their take home and they are about 5 years away from packing bag and retiring in their condo before taking on some AC / director roles. junior partners got to suck it up because their comp and bonus is all decided by senior partners exco.

all these salary raises to address the situation are done under the gun, basically milk spilt already then take cloth and wipe. audit standards are going down faster than double declining depreciation ever since covid.

4.1k starting pay got what use when ur MA outside paying 4.8 with i would say competitive progression for the first 5 years. all you get are the leftovers still, just that your leftover still slightly better quality. this is not withstanding that outside of audit the WLB is about 50% better at minimum.

even if say someone told me i guarantee become partner 8 years from now if i stayed, and i can earn 25k / month as a year 1 partner would i do it? probably not, because the 8 years are going to be like dragging my balls through glass. the intern of 3 years ago is better than the year 2 associate of today.

being a manager now is just the a sandwich position, ask u take a 1m port still u need to manage the partner, uphold the firm standards, make sure everything is prim and proper before send them for review at the same time hand hold the senior and staff. some seniors now cant even construct a proper english sentence, some cant even give basic JEs. but you cant do anything about it because press them too hard they look like they gonna break and fall apart, so you just "make do". few years ago u just need to catch up with the senior, give some guidance, good to go.

the ask of you vs the promised benefit is not worth the money, and im certain i dont need 25k a month to lead a good life. beyond 15k you honestly just want a crazy rich asian lifestyle. good luck to those who are still inside and gunning for partner, hats off for your resilience, probably easier to make it there now. but if you make partner you might be sweating buckets everytime you sign the FS.

Originally Posted by Unregistered

recently left, dont hate audit, dont hate the hours, hate the fact that management is doing nothing to maintain the quality of the profession. a lot of politcal bs at the very top.

senior partners got very little incentive to change status quo because any change affect their take home and they are about 5 years away from packing bag and retiring in their condo before taking on some AC / director roles. junior partners got to suck it up because their comp and bonus is all decided by senior partners exco.

all these salary raises to address the situation are done under the gun, basically milk spilt already then take cloth and wipe. audit standards are going down faster than double declining depreciation ever since covid.

4.1k starting pay got what use when ur MA outside paying 4.8 with i would say competitive progression for the first 5 years. all you get are the leftovers still, just that your leftover still slightly better quality. this is not withstanding that outside of audit the WLB is about 50% better at minimum.

even if say someone told me i guarantee become partner 8 years from now if i stayed, and i can earn 25k / month as a year 1 partner would i do it? probably not, because the 8 years are going to be like dragging my balls through glass. the intern of 3 years ago is better than the year 2 associate of today.

being a manager now is just the a sandwich position, ask u take a 1m port still u need to manage the partner, uphold the firm standards, make sure everything is prim and proper before send them for review at the same time hand hold the senior and staff. some seniors now cant even construct a proper english sentence, some cant even give basic JEs. but you cant do anything about it because press them too hard they look like they gonna break and fall apart, so you just "make do". few years ago u just need to catch up with the senior, give some guidance, good to go.

the ask of you vs the promised benefit is not worth the money, and im certain i dont need 25k a month to lead a good life. beyond 15k you honestly just want a crazy rich asian lifestyle. good luck to those who are still inside and gunning for partner, hats off for your resilience, probably easier to make it there now. but if you make partner you might be sweating buckets everytime you sign the FS.

Awesome and insightful post.

Myself give up the audit rat race(left once i hit SM) last year, glad that i made it despite losing 20k +_ annual salary

Originally Posted by Unregistered

Yes can confirm at least one of the B4 does provide employer CPF portion in cash if you are not local.

Every big4 give cpf in cash to non locals / give the diff in cpf contributions in cash for yr1 PR and Y2 PR,

Mazars give SRS i think

Originally Posted by Unregistered

hows the job search situation for FS people now?

hiring freeze for banks apparently

i had to take a paycut for IA role in different industry. anyone else wanna share?

Originally Posted by Unregistered

Awesome and insightful post.

Myself give up the audit rat race(left once i hit SM) last year, glad that i made it despite losing 20k +_ annual salary

What did you jump into? Is SM pay that much higher than commercial?