After paying 3 to 4 years in uni fees, bringing them up, to only be earning 2.4k

Enough to bring bread to the table la hor. What do you think is an acceptable starting salary then?

Parents of Big 4 graduates must start to recognize an impairment loss on their children the moment they sign the contract with big4

Lmaooo I love this haha! On a hindside if the children pia enough to be manager after 5-6 years with a salary of 6k, not bad right?

Still must recognise impairment loss.

6k after 5 to 6 years is still very underperforming, indicators of impairment

I don’t know why b4 don’t want to raise starting salary?
Behind the times.
Or they really think ppl will come to them for brand name still.

Meanwhile all the partners starting to retire

The work they do is menial and not meaningful, the salary is decent for the crapy work they xo

Simply because audit services are hard to differentiate between the big4
If you increase salary you have to increase the charge rate to clients. Once u increase charge rates to clients, clients go for another big4 firm which can charge lower since no differentiated services anyway.

Big4 firms need to collude and increase the charge rate together before they can increase salaries of auditors. But even then, they will lose to boutique firms which can charge lesser due to them being more cheapo with salaries.

As you can tell by now; its a race to the bottom. See who is willing to charge lesser and hence have more business. So pay will never increase. You see HR like in EY resorting to stupid reasons in order to attract fresh grads, reasons like
1. Young workplace (of course this is gonna be young because experienced people would never want to work long hours for that low pay right? So they have to dupe new blood to join the firm everytime)
2. Work anywhere (if you are on project of course you have to work where your project is at. This counts as anywhere technically right?)
3. Pantry (pantry restock at most $200 per week. Cheaper than increasing pay for auditors lol)

I mean come on..

One of the more meaningful and constructive opinion on big4.

ARC need to look beyond just $$
Should evaluate quality of work, audit staff turn over (everything needs to be relearned)
In US got initiatives by PCAOB to raise quality and standards, not sure anything by ACRA

What's a good starting pay for 5-6 years of experience? Assuming non-IB, non S&T, non tech/data in FAANG?

Huh young workplace and pantry are used as reasons to attract grads? I dont even think a 2nd lower NBS grad will fall for such rubbish

8 to 9k in a middle office bank role is a good standard

Exactly. Preach.

Honestly non-IB/S&T in banks draw > 6k after 5-6 YOE. Same goes for non-tech roles in FAANG. I mean even corp grinders in any industry (real estate, engineering, e-commerce etc) should make more than 6k in 5-6 YOE.

Have a friend doing accounting in a SME oil trading firm hitting 7k after 6 years as well.

s:///eQz2_FQeI4o

Just watch. Its a PWC recruitment video targeted at fresh grads.

Reasons to join pwc:
1. Flexible dress code
2. Flexible working hours
3. Flexible space (work anywhere, but in office)

I cringed throughout the video.

s:///eQz2_FQeI4o

Please keep dreaming if you think most people can get 8-9k in MO/BO after 6 years. Pay increment and promotion is subjected to opportunities/availabilities which is usually harder to come by compared to FO.

Get out of your shell and visit mycareersfuture and glassdoor to get such much needed education. Again, even 8-9k with 5-6 YOE is not impressive.

Exactly. 8 to 9k is already quite low already, but his big 4 brain cannot comprehend it.

Dont blame him la. He never see salary above 6k before.

You work in which slum bank? I earning > 12k for that amount of experience in BO/MO.

Anyone declined accepted offer before
 

Sorry to interrupt guys, what will happen if i reject the offer from big 4 （D） after signing LOA. I read online it says it should be fine because it's not an employment contract.

Anyone has similar experience

Could potentially be blacklisted for a few years but I guess doesn't matter if you are intending to not be in big 4 already :)

Thanks. Feel big4 associate pay is a bit low...

You receive better offers?

Hi can any kind senior give me some guidance please? I am currently a first year senior in one of the big 4s (moving to second year senior in a few months time, hopefully).

I am thinking of my exit options and would be grateful for some help with the kind of roles to search for on career platforms/advertisements... Thanks!!

What function you are in now?

5yrs of experience working in BB BO and earning only 6+...guess I am severely underpaid

You are actually. Which BB and what function? You should be expecting 7+/8 minimum even if you didn’t join as grad hire.

This guy is working in big 4 lah. He trolling you all only. 4 to 5 years should be at avp level already.

Only manager in big4 will get that kind of shitty salary for 5 years exp

Associate doing credit risk in one of the bigger US banks. I didn’t join as grad hire. I thought my salary was average based on careers future but guess I am quite far off.

Ok la if I guess correctly u should be a junior associate.

That is about 6k plus correct. US banks credit risk in sg is doing credit
Risk reporting which is more aligned to operational aspects. The good credit risks roles in US banks are mostly in hkg.

Actually I’m on my second going on third year associate. All 5 years are in credit risk. What’s the market rate currently for such background?

Top tier BB? Second to third year associate should be drawing at least 7k+

Ya, around 1.5k more

What is the pay that YOU are drawing?

honestly you're at market rate. how's the bonus?

the european banks pay the same but no bonus/1 month, so you can compare. time to jump out i guess

the ones that pay better are funds

Market rate for junior associates in top BB is already verging on 7k. So with 3 years at the associate level you should be drawing close to 7-8k, if not it pretty much means that you’re stuck at the same associate band/level.