Q: Big4 - Yearly salary increment

Originally Posted by Unregistered

Try to get a regional portfolio like ASEAN or Asia, not just Sg. I know some regional finance managers used to be from big4 making >20k with 10 years exp.

I'm from the industry. These instances are very rare, but not impossible. These people would tend to have >15 years experience, and are high-performers (top 10%).

Note that it's not easy to be the top 10%, considering that your peers in the industry tend to be competitive too.

Originally Posted by Unregistered

I'm from the industry. These instances are very rare, but not impossible. These people would tend to have >15 years experience, and are high-performers (top 10%).

Note that it's not easy to be the top 10%, considering that your peers in the industry tend to be competitive too.

To reach 20k in 15 years exp need to be better than average, but dun really need top 10% lah. Most of the top 10% in finance would all be in high finance/banking/investment jobs paying much more than that.

Originally Posted by simiishthis

For those who jumped from big 4 to other industries, at which level did you jump and was it worth it? How about the pay increment?

I left after 1 year and never looked back. Ridiculous culture and bosses. You are treated as a revenue generator.

Currently earning director-level pay in half the time it would have taken if I had stayed on. My company also hires my ex-big 4 company to do work and sometimes I take joy in scolding my former boss when my former colleagues screw up on the work. That's what he gets when he doesn't invest in training his staff. My ex-colleague stayed on and became manager yet she can't even get her basics right.

Life in big 4 is good for me. I enjoy working with my colleagues and having fun together. The pay sucks but I rather stay here and enjoy myself. Going out will mean having to do real work with real deadlines to meet. Over here everything can be discussed and negotiated. The free cab rides to and from home is another great perk.

Originally Posted by Unregistered

To reach 20k in 15 years exp need to be better than average, but dun really need top 10% lah. Most of the top 10% in finance would all be in high finance/banking/investment jobs paying much more than that.

20k salary is just a regional finance manager level in big mnc, you dont need 15 years exp. most are just mid to late 30s meaning 10-15 years exp is enough

Originally Posted by Unregistered

20k salary is just a regional finance manager level in big mnc, you dont need 15 years exp. most are just mid to late 30s meaning 10-15 years exp is enough

Is that Basic, or is that the full package? 20k for a regional finance manager sounds very much on the high side.

Originally Posted by Unregistered

Is that Basic, or is that the full package? 20k for a regional finance manager sounds very much on the high side.

Clearly on the high side for basic. Annual package is probably closer to 200k+ inclusive of bonus. Regional finance manager isn't that big shot, there is still CFO sitting on top of you.

Originally Posted by Unregistered

Clearly on the high side for basic. Annual package is probably closer to 200k+ inclusive of bonus. Regional finance manager isn't that big shot, there is still CFO sitting on top of you.

In sizable MNCs, Group CFO would be $2mil+ total package, Regional CFO tend to go 600k-1.5mil. Regional Finance Managers will probably be 300-600k total package, so 20k monthly basic sounds within range on the low side.

Problem is now with title inflation everywhere, it's hard to tell who is a real regional manager who is just fancy job title. I know of many small finance department heads of Singapore subsidiary making paltry amounts and shamelessly call themselves "CFO".

Originally Posted by Unregistered

In sizable MNCs, Group CFO would be $2mil+ total package, Regional CFO tend to go 600k-1.5mil. Regional Finance Managers will probably be 300-600k total package, so 20k monthly basic sounds within range on the low side.

Problem is now with title inflation everywhere, it's hard to tell who is a real regional manager who is just fancy job title. I know of many small finance department heads of Singapore subsidiary making paltry amounts and shamelessly call themselves "CFO".

Scenario for a typical Large MNC in Singapore, in the Finance Division.
Total = 50 Pax
Role = Number of Personnel (Full-Year All-in-Package, i.e. including bonus & AWS)
Regional CFO = 1 (600k - 1.5m)
Finance Vice-President = 2 (300k - 600k)
Finance Directors = 4 (180k - 300K)
Finance Managers = 8 (85k - 180k)
Finance Analysts = 35 (45k - 85k)

Am I right on the above? This is my rough estimation, based on my observation

Originally Posted by Unregistered

Scenario for a typical Large MNC in Singapore, in the Finance Division.
Total = 50 Pax
Role = Number of Personnel (Full-Year All-in-Package, i.e. including bonus & AWS)
Regional CFO = 1 (600k - 1.5m)
Finance Vice-President = 2 (300k - 600k)
Finance Directors = 4 (180k - 300K)
Finance Managers = 8 (85k - 180k)
Finance Analysts = 35 (45k - 85k)

Am I right on the above? This is my rough estimation, based on my observation

I don't think there's so many layers below a regional CFO unless its very bureaucratic culture or banks where VPs/Directors anyhow give.

For e.g. in my company, global mnc in pharma industry, the Asia Finance team look like this:

Director, Finance for Asia (this is the regional finance head) = >$1mil
Regional Financial Manager/Controller/Adviser (the regional specialists/subheads x3) = $300-600k
Local Finance Manger/SM/Director (title depend on how big the country, mainly local department heads x11) = $200-300k
Many Analyst/Accountant/Manager/Specialist etc. (i.e. all the rojak local execs x50++) = below $200k

In addition, there is also the group financial strategy department which has a team in Asia. Few of the senior ones are 500k-$1mil type usually more projects, M&A, strategy or tax specialization and they are supported by some local rojaks also.

But a lot depend on whether the company anyhow inflate title. For e.g. some companies can just anyhow throw director/vp/svp/sm title to all sorts of people, I like to look at hierarchy instead of job title.