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Q: Big4 - Yearly salary increment

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  #20771 (permalink)  
Old 18-10-2024, 02:21 PM
EDMWer
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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
By right

Audit should pay more than commercial since there is regulatory involvement

Besides that audit very hard to up salary besides citing to client about

1) Inflation & Increased hiring costs as a result
2) Taking on more clients thus increasing stress level
3) Dropping off low tier clients and moving on to more ridiculous complex client thus increasing stress level
4) Company (hopefully take on either new activity or have higher revenue thus more documentation needed)

There is no way to streamline your work as you are part of the audit factory production process and as such you can only rotate within the audit function by itself

Somehow the market forces is still quite inelastic to adapt for these problems

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  #20772 (permalink)  
Old 18-10-2024, 03:00 PM
EDMWer
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Originally Posted by Unregistered View Post
Director/shareholders salary or dividends comes from profit from company
profit from company comes form company spending money
having money to spend comes from bank loan
approval or maintaining bank loan comes from FS and audit partner signature
FS comes from accountant

if anything, the accountant is most important
because the competency of the accountant must match that of the auditors or u dont get your FS

So summary, your accountant pays the directors

Ex big 4, now accountant fighting big 4
Nowadays this function & tax will move overseas soon as part of the Chief Accounting Officer department as part of cost cutting

Govt helping companies to handle AI, machine learning and robotic process automation

Basically how many % of the knowledge you gain from SCAQ can you still use in future?

Not much liao…

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  #20773 (permalink)  
Old 18-10-2024, 03:02 PM
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Originally Posted by EDMWer View Post
Bro, if you are the CEO of a company

You have to rank the following expenses

1. CEO salary expenses
2. Marketing and Business Development expenses
3. Sales Commission expenses
4. Research and Development expenses (can be capitalised)
5. Finance Business Partner expenses
6. Auditor expenses
7.Cleaning and maintenance expenses
8. License fees
9. Other salaries

Where would you place auditor expenses at? Give me honest answer bro
Hi Bro, I noticed you ranked auditor expenses right above cleaning expenses !!

LOL...don't joke leh

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  #20774 (permalink)  
Old 18-10-2024, 03:06 PM
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Quote:
Originally Posted by Unregistered View Post
Director/shareholders salary or dividends comes from profit from company
profit from company comes form company spending money
having money to spend comes from bank loan
approval or maintaining bank loan comes from FS and audit partner signature
FS comes from accountant

if anything, the accountant is most important
because the competency of the accountant must match that of the auditors or u dont get your FS

So summary, your accountant pays the directors

Ex big 4, now accountant fighting big 4
no accountants no FS


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  #20775 (permalink)  
Old 19-10-2024, 10:46 AM
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Originally Posted by EDMWer View Post
Nowadays this function & tax will move overseas soon as part of the Chief Accounting Officer department as part of cost cutting

Govt helping companies to handle AI, machine learning and robotic process automation

Basically how many % of the knowledge you gain from SCAQ can you still use in future?

Not much liao…
How much % of the knowledge you learn in school apply to real life?

You got use anything from history, geography, science in real life?


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Bursa Stocks [Android] App - check latest share prices on the go


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SGX Stocks for iPad - check latest Singapore share prices
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  #20776 (permalink)  
Old 19-10-2024, 11:49 AM
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Originally Posted by Unregistered View Post
How much % of the knowledge you learn in school apply to real life?

You got use anything from history, geography, science in real life?
yeah?

have you never once talked to your friends about singapore? history? culture? do you only have boomer friends who talk about work and NS 24/7?

no foreign friends from the US, aus, india?

oh sorry i forgot, you have no friends, no surprise those knowledge are useless to you.
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  #20777 (permalink)  
Old 19-10-2024, 12:01 PM
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Originally Posted by Unregistered View Post
How much % of the knowledge you learn in school apply to real life?

You got use anything from history, geography, science in real life?
You learn those things in school, along with English, Mother Tongue, and many more subjects that you may feel is "irrelevant" in your hot garbage "audit" role because they are designed to

1. Help you hone your learning skills,
2. Open up your educational pathway to many different fields.

So if you end up in your garbage field where you don't use any of those knowledge, that's on you buddy. Take the fat L and cry about it.
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  #20778 (permalink)  
Old 19-10-2024, 12:19 PM
EDMWer
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Originally Posted by Unregistered View Post
How much % of the knowledge you learn in school apply to real life?

You got use anything from history, geography, science in real life?
Have ah

From history i learn that i must maintain permanent audit file

From geography, i learn how to find ways to go client place faster thru google maps then also learned that land cannot depreciate and see if the land will kana impairment loss

From science, i learned how to do testing to sample if the asset like PPE is in working condition
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  #20779 (permalink)  
Old 19-10-2024, 03:09 PM
Unregistered
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Quote:
Originally Posted by Unregistered View Post
You learn those things in school, along with English, Mother Tongue, and many more subjects that you may feel is "irrelevant" in your hot garbage "audit" role because they are designed to

1. Help you hone your learning skills,
2. Open up your educational pathway to many different fields.

So if you end up in your garbage field where you don't use any of those knowledge, that's on you buddy. Take the fat L and cry about it.
Who say I in audit? Pls don’t associate me with you
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  #20780 (permalink)  
Old 19-10-2024, 05:48 PM
Unregistered
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Quote:
Originally Posted by Unregistered View Post
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
I'm the same as your unlucky friend. So I'll tell everyone here, JUMP OUT ASAP.
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