yah pwc compensation is low. they have the best audit software and work culture, but pay is peanuts compared to the other big 4. there is a resignation surge now after the bonus payout last week.

Is this before or after the latest salary revision?

Fu auditors!

Compensation isn’t the most important thing.

Give some weight to the culture, exposure, environment, learning opportunities etc

Resignation surge? How many and what is your source?

Does Big 4 take SIM people? I have a 2nd class from UOL

This is after the pay revision.

Plenty UOL in Big 4

Not bad but cannot match KPMG 20% increment

They’re the best now

Provided you obtained SCA already

Hi yes I have obtained SCA since a long time ago. Back then during my time there were no exams just a pre-admission course and all of us were grandfathered to become SCA.

Pretty much everyone from my batch is SCA.

Could you share how KPMG’s audit pay is like now after the increment? For senior associate level and manager level if possible!

Career options
 

Hi Guys, I just reached Senior Level 1 and currently stuck in crossroads between the 2 types of accounting career path as below and would like to seek advice:
1) Exit to commercial/industry as a Fund Accountant/FP&A Analyst.
2) Grind through the big 4 and make partner.

Which choice will be better in terms of the following factors (i) Career Progression (ii) Total Salary or compensation over the years (iii) work life balance

1) Exit to commercial/industry as a Fund Accountant/FP&A Analyst.

Good luck trying to make partner

If you jump out as a commercial accountant, yes your initial pay will be higher than the auditor at the start because of 15-20% pay bump usually. However, the year on year increment as a commercial accountant will not be as fast as audit no? Sooner or later in long term, an average auditor base pay will exceed the average accountant.

In addition, making partner is where the $$ comes in, fresh partner makes about at least 250k per annum and is expected to increase as he progresses.

Majority of partner hopefuls get stuck at senior manager, where pay may not reach beyond 200k per annum before you retire.

Be realistic - the odds of making Partner are very low. You yourself know best what kind of level and caliber you are. The truth is if you are that good, you will be successful no matter where you go also.

The grandfathers are probably all managers by now leh. You still inside Big4 now?

PwC Advisory Payscale

Hi everyone! was just curious about PwC's advisory payscale, understand they are paying 4k for Associate level, anyone knows what is the pay for Senior Associate, can't seem to find

thanks

Think it's 4.5k for the deals EDGE program. Not 4k. Seniors should hit 5

Is FDD a good department to transfer to? Currently being offered by it in yellow internally.

Hi Guys, I am an audit senior in one of the big 4 and considering to move out to corporate finance department. Would anyone keen to advice on the exit opportunities for big 4 corporate finance (e.g. PE firms, IB) and the chances of getting into these prestigious companies?

depends on your exit plan. if you want to transfer to FDD cos you hate audit, then dont. FDD is basically glorified audit

but yes prospect is better and it opens up doors to high finance roles e.g., IB (not saying its guaranteed but theres a better chance to break into IB with FDD/transaction experience)

Are there even any exit opportunities for managers?

Hey thanks for your reply! I was not asking about deals edge but rather normal advisory roles

I am also grandfathered but not manager yet.

Last batch of students eligible for 5 days course are those who boys who accepted NUS/NTU/SMU Accountancy offer in 2012 and enrolled in 2014.

Graduate 2018, now only Senior.

Btw can anyone confirm if 5 days course is treated on par as SCA in Big4?

The cert and title is the same. But membership number different.

Agree, FDD is glorified audit.
The only thing good is the pay, and opens you up to more M&A roles. Bad thing is hours is very bad, most audit seniors who transferred over to FDD say FDD hours worse than audit
IB maybe difficult, one in a million rare case.
If have a chance, go for other departments within advisory department have better opportunities, like valuations or CF.

Disagree. It's a common misconception that valuations has better exit opportunities. What FDD provides is deal experience as every project is M&A-related while valuations requires you to provide audit support/PPA/Intangible valuations in addition to M&A valuations. The gap is easier to bridge as financial modelling can be learnt on your own while deal experience is something you can only gain on the job, and that experience is viewed favourably for IB/PE/VC/Corp Dev exits.

It really depends on how the interviewees sell themselves. Each has its pros and cons.

Agreed, FDD > Valuations when my bank hires from Big 4.

CA that big of a deal in Big4?

Only audit

Interesting to hear, I have a couple of friends from big 4 FDD but most left for MNC strategy/M&A related roles, and a rare few to investment firms. On the other hand, I see most people with big 4 valuation experience move to PE, hedge funds, bank IB/corporate banking related roles. I guess extensive financial modelling is very well sought after, few are willing to hire FDD people with no financial modelling on the job experience

I’d like to know which banks would hire FDD lol

Agreed with this. It's more challenging to jump to IB from Big 4 FDD compared to valuations, unless you have solid qualifications and credentials to support your case.

I know someone who progressed from Big 4 audit > FDD > mid-tier IB > bulge bracket IB. His credentials are exceptional though and he has SEA language skills in addition to English and Chinese, which is very sought after as SG-based bankers will be doing a lot SEA deals in Thai/Indo/Msia/Philippines.

Wow nice. My friend is currently at yellow FDD, they are very very short handed, always work to the AMs and weekends (but that’s common everywhere in big4)
I think FDD is still a “step up” from audit, but join at own risk LOL

Mad respect for audit people who internal transfer instead of going out of big4

Which big 4 has the best Corporate Finance team?

Anyone know salary for S1 S2 S3 of pwc deals team? Looking to make a move there

S1 is 5.5k. S2 and 3 not sure