Q: Big4 - Yearly salary increment

Originally Posted by Unregistered

May be true but:
1) Big 4s have revised their audit pay scheme. 3rd year is closer to 5k now
2) Seniors can easily exit with a 20% pay increment with their qualification
3) Higher potential to earn more in the long-term (e.g. CFO, deal advisory)

While I do agree with you somewhat.. everything boils down to "potential" in the end for big 4. Whereas local bank people are already starting at 20% above big 4 people for much shorter hours (if you are talking about MO)

Originally Posted by Unregistered

While I do agree with you somewhat.. everything boils down to "potential" in the end for big 4. Whereas local bank people are already starting at 20% above big 4 people for much shorter hours (if you are talking about MO)

Yup there are definitely no guarantees but i reckon that the average salary will be higher for those who started in big4 audit vs those who started in local bank MO using a 10-15 year timeline, with the gap increasing even more over time.

Originally Posted by Unregistered

May be true but:
1) Big 4s have revised their audit pay scheme. 3rd year is closer to 5k now
2) Seniors can easily exit with a 20% pay increment with their qualification
3) Higher potential to earn more in the long-term (e.g. CFO, deal advisory)

Singapore got how many coys sia every auditor want to be CFO HAHAHA

Not to mention need to compete with ceca also

Originally Posted by Unregistered

While I do agree with you somewhat.. everything boils down to "potential" in the end for big 4. Whereas local bank people are already starting at 20% above big 4 people for much shorter hours (if you are talking about MO)

You are correct and this is what I have been trying to tell people for a few hundred pages already.

In gaming terms, going to Big4 is like playing a class that only shines in the late and endgame. You can obtain instant gratification by going to banks and MNCs and you start getting higher pay in earlier years.

If that is what you want, GO FOR IT.

Big4 model has always been one of “pain first, reward potentially will come later”.

I guess these days because of social media, people in their 20s and 30s sharing their lifestyles online, this model might not appeal to some of you guys.

Originally Posted by Unregistered

Singapore got how many coys sia every auditor want to be CFO HAHAHA

Not to mention need to compete with ceca also

If you are aiming for CFO level, you probably need to stay in B4 until SM, which gives you a shot at grabbing FC seats then climbing to CFO years later.

Originally Posted by Unregistered

Yup there are definitely no guarantees but i reckon that the average salary will be higher for those who started in big4 audit vs those who started in local bank MO using a 10-15 year timeline, with the gap increasing even more over time.

Well the thing is most people comparing salaries aren’t looking in a 10 - 15 years timeline but more of 2 to 3 years, or even just immediate starting pay.

Their friends are already showing off their holiday photos, cafe hopping, new shopping gains on Instagram, you can’t expect them to wait 10 years by which time their friends probably forgotten and move on already. By 15 years people will be comparing kids PSLE results instead of salaries lol.

Originally Posted by Unregistered

You are correct and this is what I have been trying to tell people for a few hundred pages already.

In gaming terms, going to Big4 is like playing a class that only shines in the late and endgame. You can obtain instant gratification by going to banks and MNCs and you start getting higher pay in earlier years.

If that is what you want, GO FOR IT.

Big4 model has always been one of “pain first, reward potentially will come later”.

I guess these days because of social media, people in their 20s and 30s sharing their lifestyles online, this model might not appeal to some of you guys.

Exactly. The people here shitting on Big4 auditors for poor starting salary and work life balance are prob insecure MO peeps who don't understand the Big4 model. No point comparing now when you only reap the rewards for Big4 in the long-run.

If u join in around Oct-Nov , u won't miss your appraisal for next year (around Apr-May), so u can get promoted in Jun-Jul though u didn't work for 1 yr yet. Fast track career progression lol

Originally Posted by Unregistered

Anyone know the appraisal period in Big4 and the criteria like do you need to be employed for at least 6 month or 1 year? Thank you

You need work for at least 6month to qualify for appraisal (for example if you join in Oct or Nov 21 this year , you will qualified for next year appraisal in Apr) , this is not a bad deal 6 month to promotion hahah

Originally Posted by Unregistered

Exactly. The people here shitting on Big4 auditors for poor starting salary and work life balance are prob insecure MO peeps who don't understand the Big4 model. No point comparing now when you only reap the rewards for Big4 in the long-run.

This is a common misconception, I left big 4 after 2.5 years and have about 6y work experience. While this is not the case for everyone, if you are bright, work hard and have some luck, the career track elsewhere is by no means slower than big 4. It’s competitive everywhere and you need to get the right role and companies.

For reference, my compensation is already above big4 sm, the one who stayed for 6 years is barely a manager