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Q: Big4 - Yearly salary increment

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  #281 (permalink)  
Old 30-11-2015, 09:52 PM
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from best to worst:

1. MAP (Foreign banks / O&G)
2. MAP (Top 50 MNC)
3. MAP (Local banks)
4. Civil Service / Stat board / Middle MNC / Regional bluechips
5. Big 4 / Local bluechips / GLC
6. SME

2c from me

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  #282 (permalink)  
Old 30-11-2015, 10:06 PM
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Actually, there is something I don't get.

Why does everyone say O&G pays well? I mean Shell starting pay is about $3.4k while FMCG giants are about $5k.

Even if you consider that shell operates on a 15 months system, it's still relatively lower.

PLUS, I doubt bonuses are good for O&G in this environment. Discuss.

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  #283 (permalink)  
Old 30-11-2015, 10:20 PM
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I heard this year exxon no bonuses as well...

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  #284 (permalink)  
Old 30-11-2015, 11:54 PM
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Quote:
Originally Posted by Unregistered View Post
Actually, there is something I don't get.

Why does everyone say O&G pays well? I mean Shell starting pay is about $3.4k while FMCG giants are about $5k.

Even if you consider that shell operates on a 15 months system, it's still relatively lower.

PLUS, I doubt bonuses are good for O&G in this environment. Discuss.
my uni mate went through the shell program. think their selling point is big increments every year, he was getting 1.2-1.5k increase every year.
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  #285 (permalink)  
Old 01-12-2015, 12:05 AM
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my uni mate went through the shell program. think their selling point is big increments every year, he was getting 1.2-1.5k increase every year.
20% increments for first 3 years. I also have friends there.. but other big MNC grad programs also offer similar % increases of ~15-20% per year lei.
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  #286 (permalink)  
Old 01-12-2015, 12:44 AM
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20% increments for first 3 years. I also have friends there.. but other big MNC grad programs also offer similar % increases of ~15-20% per year lei.
dunno lar, but dun think my uni mate there is getting only 15-20%, he told me he was double by the time he complete the prog. think the prog is 3 years.... but then he was 1 of the smartest ppl in uni, so maybe his exp is for top performer.
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  #287 (permalink)  
Old 01-12-2015, 01:06 AM
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I doubt it cos shell grad package is a STRUCTURED program. Unless he counts 3.4k to 5.9k as salary doubling, if not I doubt it.

Maybe salary adjustment in his 4th year. Either way, nothing to shout about tbh, that's why I was always puzzled when people just randomly say oil and gas is good. I think it's good if bonuses are good but in this climate, what bonus?
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  #288 (permalink)  
Old 01-12-2015, 09:37 AM
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after 5 years in a big 4, even if you spend 5k on SKII and la mer for the ladies, you are a goner, if you are still single.
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  #289 (permalink)  
Old 01-12-2015, 11:01 AM
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This is another common marketing hype - "exposure". What's the use of all these exposure if you end up working crazy hours with piss poor remuneration and get something of doubtful value to convert to high paying cushy corporate job in the future?

Would a bank looking for an accountant be impressed by the fact that you had exposure in another 5 industries? I doubt so. They are looking at people who can deliver and pick up the slack asap. Would a global MNC be impressed with your so called multi industry exposure that they place you ahead of their own grad programs? I doubt so.

Also realistically what sort of exposure can a big 4 junior grunt get being a nomad doing ad-hoc work from 1 company to another?

I am not looking down on big 4 staff per se, just challenging all these common buzz words that are thrown around by recruiters and fresh grads without much corroboration with facts on the ground.

My personal observation is that despite all that hype about the need to 'sacrifice' 4-5 prime years of your life to get a comfy finance job in the future, big 4 'students' don't actually fare better than corporate finance exec direct hires in any meaningful way. If we compare them to big MNCs with MAP, they fare considerably worse off if you compare pay / rank with like for like working year.
Expose to different scenarios. It depends on what you are looking for. If you are just moving into another grunt role in a bank, then the exposure definitely doesn't help. You are better off joining the bank right from the start.

If you are moving into a more senior role where you are expected to provide guidance/advisory on finance matters, the previous exposure and experience helps. Not all finance issues have clear cut solutions or 1 single solution.

That said, I would never join Big 4. The pay is crazy low.
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  #290 (permalink)  
Old 01-12-2015, 11:38 AM
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Expose to different scenarios. It depends on what you are looking for. If you are just moving into another grunt role in a bank, then the exposure definitely doesn't help. You are better off joining the bank right from the start.

If you are moving into a more senior role where you are expected to provide guidance/advisory on finance matters, the previous exposure and experience helps. Not all finance issues have clear cut solutions or 1 single solution.

That said, I would never join Big 4. The pay is crazy low.
its time the local grads band together to boycott the big 4 and its nonsense.

stop paying crap pay for a professional - accounting is a proper professional qualification like law. if lawyers can get so much, surely the big4 can do better.

fact - big4 in other countries are not so badly paid.
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