Q: Big4 - Yearly salary increment

i just joined one of the big 4s, can i ask what is the chance of getting a double promotion? heard from some seniors that some people have been promoted 2 grades instead of the usual 1.

Originally Posted by Unregistered

i just joined one of the big 4s, can i ask what is the chance of getting a double promotion? heard from some seniors that some people have been promoted 2 grades instead of the usual 1.

very rare lah...

well...just passed by and saw this post.
realized the salary level in big 4 in HK is quite different to Singapore.

In HK, our salary for normal rating in 2014: (1 SGD = 5.5 HKD)

Associate 1: HK$13000 (SGD 2,360)
Associate 2: HK$18600 (SGD 3,380)
Senior 1: HK$23000 (SGD 4,180)
Senior 2: HK$31500 (SGD 5,720)
Senior 3(AM): HK$36100 (SGD 6,560)
Manager 1st year:HK$46,500 (SGD 8,450)

Peak season (Jan - June) pay will be 25% higher.

Originally Posted by Unregistered

well...just passed by and saw this post.
realized the salary level in big 4 in HK is quite different to Singapore.

In HK, our salary for normal rating in 2014: (1 SGD = 5.5 HKD)

Associate 1: HK$13000 (SGD 2,360)
Associate 2: HK$18600 (SGD 3,380)
Senior 1: HK$23000 (SGD 4,180)
Senior 2: HK$31500 (SGD 5,720)
Senior 3(AM): HK$36100 (SGD 6,560)
Manager 1st year:HK$46,500 (SGD 8,450)

Peak season (Jan - June) pay will be 25% higher.

Interesting, there is no such thing as peak season pay here. Pay is flat throughout the year.

Originally Posted by Unregistered

well...just passed by and saw this post.
realized the salary level in big 4 in HK is quite different to Singapore.

In HK, our salary for normal rating in 2014: (1 SGD = 5.5 HKD)

Associate 1: HK$13000 (SGD 2,360)
Associate 2: HK$18600 (SGD 3,380)
Senior 1: HK$23000 (SGD 4,180)
Senior 2: HK$31500 (SGD 5,720)
Senior 3(AM): HK$36100 (SGD 6,560)
Manager 1st year:HK$46,500 (SGD 8,450)

Peak season (Jan - June) pay will be 25% higher.

The big 4 is not as monolithic as they advertise. The big 4 like to sell that they are a global professional services firm, but really every country act quite independently. They have their own fee model, and they bill independently. That is why you see quite a difference in remuneration, prestige and quality of candidates across countries. For instance, getting into big 4 consulting in the US and UK is highly competitive, and they get to recruit top graduates, and they pay competitively against the leading consulting firms. While in Singapore, candidates are less stellar, and the consulting arms do not enjoy the same level of recognition.

In fact, if you looked at the consulting market that is shaping up in the UK and the US - MBB aside - the big 4 are now 'almost' just as prestigious as consulting firms like RB, LEK and etc.

Originally Posted by Unregistered

The big 4 is not as monolithic as they advertise. The big 4 like to sell that they are a global professional services firm, but really every country act quite independently. They have their own fee model, and they bill independently. That is why you see quite a difference in remuneration, prestige and quality of candidates across countries. For instance, getting into big 4 consulting in the US and UK is highly competitive, and they get to recruit top graduates, and they pay competitively against the leading consulting firms. While in Singapore, candidates are less stellar, and the consulting arms do not enjoy the same level of recognition.

In fact, if you looked at the consulting market that is shaping up in the UK and the US - MBB aside - the big 4 are now 'almost' just as prestigious as consulting firms like RB, LEK and etc.

Agreed. Big 4 in SG is nowhere near Big 4 in US.

Originally Posted by Unregistered

Approximately (but which I believe is quite accurate):

Y1 associate: 2800
Y2 associate: 3300
Y1 Senior associate: 3700
Y2 Senior associate: 4200
Assistant Manager: 4700 - 6000 (Several levels of AM)
Manager: 6000 - 9000 (Several levels of M)
Associate Director: 9000 - 11000 (Several levels of AD)
Director: 12000 - 16000 (Several levels of D)
Partner: >20000 (Highly variable; Salaried partnership / Equity partnership)

Actuallly its quite off from y1 snr
Y1 senior is abovr 4k already

Originally Posted by Unregistered

Actuallly its quite off from y1 snr
Y1 senior is abovr 4k already

Y1 senior is at 4k, give you +- 200.

4.2k x 14 months = 58.8k

Looks like a lot, but you have to divide by 10-12 working hours instead of the usual 8.

Per hour salary is 58.8 / 52 x 5 / 10 hrs = $22/hour.

Others who are paid 4k and 8 working hours are getting $27/hour. These people get 4k straight in year 1 aka fresh grad while you have to wait until year 3 aka Year 1 Senior. The gap only closes after about 5 years but by then it is almost impossible for you to overtake those who have earned extra during their first 4 years.

In HK, our salary for normal rating in 2015 just announced as below: (1 SGD = 5.4 HKD)

Associate 1: HK$13500 (SGD 2,500)
Associate 2: HK$19500 (SGD 3,600)
Senior 1: HK$24000 (SGD 4,500)
Senior 2: HK$32500 (SGD 6,000)
Senior 3(AM): HK$38000 (SGD 7,000)

Overtime payment will be allocated during peak season and 1-2 months bonus every year depends on individual performance.

Do advisory associates get paid more in the Big 4 as compared to their audit and tax counterparts?

What is the starting pay of a fresh graduate who enters advisory in the big 4?

I heard that their interview process is significantly more stringent than audit and tax so I was wondering if their remuneration is higher?

Thank you!