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Q: Big4 - Yearly salary increment

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  #17921 (permalink)  
Old 17-06-2024, 09:13 PM
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Isn't 4.8k just slightly above fresh graduate median pay anyway?

Anyway to me the root cause of the whole salary issue is most graduates wants to get median pay.

But Big 4 mass-hire, and they offer 1 flat pay to all new hires, and giving them all median pay just isn't feasible.

My suggestion is to just outright practice pay discriminate via class of honours.

First class - A1 - 4.8k
2nd Upper - 4.4k
2nd Lower - 4.1k
3rd Class or Merit - 3.8k

Like that everyone happy.
i am a big 4 partner, i have a suggestion - how abt i just hire EP babies at 3.5k starting pay ? and the 4.8k kids are not necessarily smarter

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  #17922 (permalink)  
Old 17-06-2024, 09:15 PM
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Probably KP FS, heard the turnover quite bad
But idk why some auditors ep really got rejected. Some of them are going back Malaysia dyyyy.

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  #17923 (permalink)  
Old 17-06-2024, 09:22 PM
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i am a big 4 partner, i have a suggestion - how abt i just hire EP babies at 3.5k starting pay ? and the 4.8k kids are not necessarily smarter
LOL. Why do you need 'smarter' in the first place? This is audit. Any 3rd world immigrant with a cert from a degree mill can do the job. It's not neurosurgery or strategy consulting.

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  #17924 (permalink)  
Old 17-06-2024, 09:46 PM
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why so many audit seniors rather do shipping company audit than do construction audit?
Construction is a low pay dead-end industry. Which accountant or auditor will pick this industry if given a choice?
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  #17925 (permalink)  
Old 17-06-2024, 11:03 PM
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Big 4 audit firms donít differentiate between universities, whether private or foreign. seems like commercial firms do. university name still matters even after you have worked for a few years. lol
Big 4 audit firms dont differentiate because they can no longer afford to differentiate, if you havent realize there are audit programs that cater for non-accountants now.

just 6 years ago, my batch of 46 had only 2 private U within the batch. now? lol, pretty sure the most recent intake only 50% is from local U, not to mention this 50% is already the batch that entered accountancy with a crap JC score

glorious times
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  #17926 (permalink)  
Old 17-06-2024, 11:13 PM
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the longer u wait in big 4 the harder it is for u to find some legit commercial accounting position without being lowballed. this industry is dominated by middle age auntie and uncles who may not even have a degree, forget abt CPA/CA. chances are most SMEs rather hire a 5k per month 8YOE auntie accountant as compared to ex-auditor. 1st they cant afford u, 2nd as compared to these laoniao, u more likely to jump again as u want more salary 2 years later...
I jumped out as S1, was offered a 30% increment plus a title drop (senior to analyst) . recently got another offer which gives me a 40% jump (this is after my 2 years in commercial with 20% adjustment - promoted once) same batch friends trying to jump out now, she was offered mostly at her current big 4 salary / 5-10% increase, what's worse is most FP&A job will take those from FP&A or accounting advisory functions. Auditors are not competitive in the Finance BP / FP&A fields cos of the lack of knowledge in Tableau/Power BI/ management reportings
if u want jump, jump asap. dont think the jump as mgr get 40% bump works anymore
to be fair, there is always two sides of a coin, i myself left with a 30% increment as s1 recently. honestly best decision of my life. in fact i managed to get 2 offers that offered 30% increment (big MNCs)

the reason i left is because when i look around, my peers cant even string together two complete sentences, and some of them the accounting knowledge is non-existent, and yet i draw the same salary as them. no thank you.

the point im trying to make is, as long as you can articulate the value of your experience in audit, e.g being able to see the big picture and correlate financial information + some technical, its easy to get a job, because well look at the current state of the people coming out of audit. one of the interviewer was surprised i could give some JEs for initial and subsequent measurement of a bond when some people with 5 years FS experience can even do the same... and im not even from a FS background...

i guess im just thankful that i got pretty good exposure during my first 2 years and had decent seniors and managers to guide me, but i can quickly see that even that is going downhill as some of the seniors nowadays are questionable at best...
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  #17927 (permalink)  
Old 17-06-2024, 11:14 PM
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Big 4 audit firms dont differentiate because they can no longer afford to differentiate, if you havent realize there are audit programs that cater for non-accountants now.

just 6 years ago, my batch of 46 had only 2 private U within the batch. now? lol, pretty sure the most recent intake only 50% is from local U, not to mention this 50% is already the batch that entered accountancy with a crap JC score

glorious times
6 years ago means you in your 30s already lah or manager level if you still around
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  #17928 (permalink)  
Old 17-06-2024, 11:33 PM
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Big 4 audit firms dont differentiate because they can no longer afford to differentiate, if you havent realize there are audit programs that cater for non-accountants now.

just 6 years ago, my batch of 46 had only 2 private U within the batch. now? lol, pretty sure the most recent intake only 50% is from local U, not to mention this 50% is already the batch that entered accountancy with a crap JC score

glorious times
FYI i think they also have poly program for poly grads... seems like just have to take ACCA/CA afterwards and u are as good as local FCH in par eyes...
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  #17929 (permalink)  
Old 17-06-2024, 11:38 PM
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But idk why some auditors ep really got rejected. Some of them are going back Malaysia dyyyy.
the purpose of EP is to encourage highly skilled foreign workforce from overseas to diffuse the technical know-hows to local firms...

auditor from 2 hr drive diffuse nth but competition to the lowest pay possible for this industry
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  #17930 (permalink)  
Old 18-06-2024, 12:47 AM
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the purpose of EP is to encourage highly skilled foreign workforce from overseas to diffuse the technical know-hows to local firms...

auditor from 2 hr drive diffuse nth but competition to the lowest pay possible for this industry
Its bs in the first place. Its just firms are ball lickers to low cost in the past, till now.

Its funny what skills set can be transfer to local work force.
Fk up the quality only? Thats a skill.
Finally someone with thinking mind. All these local accountancy grads have been lied to for years. Compete in a section with low quality workforce and only interedted to rush to bottom.

STAY AWAY FROM ACCOUNTANCY.
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