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Q: Big4 - Yearly salary increment

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  #20171 (permalink)  
Old 19-09-2024, 09:46 PM
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Hey thanks for sharing! I want you to know I read the whole thing so you don’t feel like you wasted time typing all that. Where are you working at now after leaving accounting?

It’s nice but also a bit sad to hear how prestigious we used to be. I did try to Google but there isn’t a lot of information available on the pre-SCAQ days, I guess it’s all lost over time somewhere buried in the internet. Were you not eligible for the grandfathering thing?

The pass rates are now (relatively) quite high, would you consider trying to pursue it now?
Hello! I should thank you for willing to read such a long story. To me its painful to even write it down, but its a privilege to me that I still get to share such history and someone willing to read it. Afterall, its almost 1 zodiac ago, so im grateful people here still ok enough not to call me off. Thanks.

I was in audit only for awhile. Then I continue on with being a commercial accountant. Currently in my second company as I stayed quite awhile in each company. Im never a top scorer in uni, may be avrg or probably below avrg a person, perhaps that's why im still in accounting unlike others that meant to do better things elsewhere. I get to supervise a small team of juniors but progression have been slow for me and pay is definitely not well off. While I do not think I'm good, but as a whole I would find this industry is one that suppress everything/people. Its really not worth to be in this industry. May be next job I will try going towards other things Finance related but no longer accounting/financial reporting.

Actually, many of my batchmates no longer in audit/accounting. I know of quite a number end up became insurance agent, property agent, and a few signed on army/SPF surprisingly. A few top scorer I know alrdy manager/SM in banks. Only a few I know of like myself became commercial accountant. It seems to me my batch which did not qualify for the grandfathering scheme ignite the very start of finding accounting no longer an attractive industry. That's just my perspective, in a sense what I experienced was a lost of the grandfathering scheme (too near!) and little support to pursue the unreasonably difficult crafted SQP, so I have more critics over SQP/SCAQ. Surely, there were far more reasons that make accounting unattractive over the years and we all knew about it.

Being in acccountant really taught me to be humble, really need to be very humble. In office, FP&A, data analysts, comp sci programmer etc. Will be seen as more prestigious kind of people. Business development, marketing and sales also doing better than us accountant because they generate profits whereas accountants will always be seen as cost. It always felt like my team will be the no.1 to get cost cutting and reduced headcount, somehow work (mthly/qtryly/yearly closing etc.) always gets more but nvr felt like pay/progression goes up. Automation not even there yet but higher management alrdy like to sound like we are redundant already. Nowonder people no longer find accounting attractive.

My batch would have became CA sg long ago if they have pursued SQP/SCAQ. But I do not think many have done it. So far I did not know of any of my batchmate became CA sg. But may be is because my network not wide enough to know. Did thought of pursuing SCAQ now if the past rate is higher and recently ISCA introduced things like lessons and SCAQ academy, heard can study online? But after thinking for awhile, I do not think I will do it... Really do not feel the motivation, maybe age is catching up and I simply do not have the energy to pursue such high commitment thing after tiring work day and limited weekends. At this age, we usually have more family commitment (aging parents, attention consuming spouse&kids, housework). It may sound like giving excuses, but its really difficult to do. Also, my batch will not qualify for any exemptions nor the APP which current undergrad get to enjoy various sponsorship and frontloading exams. For us, taking on full 5 papers while managing work/family commitment is as good as volunteering ourselves at the bottom of the bell curves of exams? Its seems like whats lost were lost for us oldies and our priorities changed. Despite what my batch don't get to enjoy, I still felt its really good and glad that ISCA finally came out with all these support (exemptions & APP) for new gen of those who wanna pursue the CA sg title. Imo, It makes the difficulty level more manageable or reasonable, I felt that should be the way earlier. Just my perspectives.

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  #20172 (permalink)  
Old 19-09-2024, 11:07 PM
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Grandfather scheme ended in 2012 (for girls) and 2014 (for guys who served NS)

They maintained cohort fairness.

For thos who missed it, its is really just born too late...

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  #20173 (permalink)  
Old 19-09-2024, 11:13 PM
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Oh man really sucks for your batch. I can’t imagine studying hard, getting good grades and a university placing, only to discover after 2 years NS that the popularity plunged.

I’m not sure why the plunged happened between 2016 to 2018 if the SCAQ was introduced in 2013. Maybe some lag time between implementation and your seniors discovering this isn’t for them, and spreading the word of mouth?
lol the plunge only takes place around 2020

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NTU Accounting IGP

2015/2016 AAA/C 606
(higher than comp science/engineering)

2016/2017 AAB/B 618
(higher than comp science/engineering)

2017/2018 AAB/B 611
(higher than comp science/engineering)

2018/2019 AAC/B 541
(Slightly lower than comp science, higher than comp engineering)

2019/2020 ABC/B 507
(Slightly lower than comp science, higher than comp engineering)

2020/2021 BBC/C 481
(Lower than comp sci and comp engineering)

2021/2022 BBC/C 414
(Lower than comp sci and comp engineering)

2022/2023 BCC/B 352
(Lower than comp sci and comp engineering)

2023/2024 BBC/C 357
(Lower than comp sci and comp engineering)

Notable decline in grades and intake starting around 2020. Decreasing interest in accounting compared to comp science and comp engineering majors.

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  #20174 (permalink)  
Old 20-09-2024, 07:29 AM
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I am the previous guy who grad 12 years ago from NBS. If you dun believe nvm coz life is good for me. I also slogged till 10pm midnight when I was in Big 4. Which is why I quit after 3 years to join banking and life is good since then. Why do I check on this forum is becoz I realized this thread keep bashing acct grad and I dislike it. I share the same thoughts as the earlier poster about acct is a popular course back in Uni. During my time, many classmates are from RI and HCI. It felt I did well to get into the same course as them. Actually alot of my peers dun do acct coz there are better jobs out there. But we won’t be where we are without an accounting degree. Good ones join MAS,IB,GiC. The above average ones become MAs. The average ones go big 4 quit after 1-5 years, most go fintech/mnc/banks.

Someone quoted 12 yoe 200k-300k is average. I want to say u think too highly of yourself. As I work in bank and see tons of salaries due to the nature of my job. Many Uni grad din even hit that when they are mid 30s. You know a specialist doctor in mid 30s is only earning 250-300k. You are teacher is probably not even close to 200k by their late 30s. U know300k annum income is top4.5% of Singapore taxpayer. A lot of ppl talk big but I wonder whether they can fetch that kind of salary. I have relatives who work tech firm and head of machine learning and drawing lesser than me and arnd my age. All these prove that accounting is still very useful. At least it allows normal ppl like me to get good income. Maybe nowadays the quality of local uni acctgrads become damn poor. Then I have to say is so disappointing. I am the 2012 batch and we are all quite competitive. I realized those nv audit banks in big4 also find some ways to join banking eventually. All these bashing won’t do u good. I can tell you. After working for 12 year, the toughest time was big 4. Now I am earning above multiple times that but working very little. Every time boss impressed how come I can handle so many projects and work. I myself think this is nothing. Back in big4, that’s the norm. Big 4 is good training ground.
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  #20175 (permalink)  
Old 20-09-2024, 07:52 AM
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lol the plunge only takes place around 2020
2017 to 2018 is already 10% cohort drop

And AAC is just a nicer way of saying ABB.
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  #20176 (permalink)  
Old 20-09-2024, 09:16 AM
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lol the plunge only takes place around 2020
wow where did you dig up the history from?

My god I’m not sure what I’m feeling from this…

So the freebies these days not as smart, competitive, cut throat?

I go bell curve with them confirm first class honours? But life no second chance to go over, I can’t go back to my twenties hais
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  #20177 (permalink)  
Old 20-09-2024, 09:17 AM
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I'm curious. Why would people choose to come back to audit? It's strange, right?
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  #20178 (permalink)  
Old 20-09-2024, 09:32 AM
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Blue
A1 : 4350
A2 : 4550
S1 : 5000
S2 : 5600

Yellow


Orange


Black
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  #20179 (permalink)  
Old 20-09-2024, 09:42 AM
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I'm curious. Why would people choose to come back to audit? It's strange, right?
You see the post above yours.. nowadays the kids are much weaker than we were.

I don’t think it’s realistic to go back now due to family commitments, but if I were to compete against the current batches, my chances of getting promoted should be quite solid.
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  #20180 (permalink)  
Old 20-09-2024, 10:11 AM
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Blue
A1 : 4350
A2 : 4550
S1 : 5000
S2 : 5600

Yellow


Orange


Black
The Jump from A2 to S1 really needs to be higher.
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