Q: Big4 - Yearly salary increment

From what I observe, WLB at commercial seems to be also quite bad. During month end closing, they have to work until 10 to 11 pm from what the client staff told me. On top of their work, they have to respond to auditors' queries.

Turnover rate at commercial seems to be quite high too... I was liaising with some people during my interim last time. When it comes to finals, about one fifth of them were no longer in the company...

That is what I observed from the engagements I worked on. I'm not sure about other clients.

Originally Posted by Unregistered

From what I observe, WLB at commercial seems to be also quite bad. During month end closing, they have to work until 10 to 11 pm from what the client staff told me. On top of their work, they have to respond to auditors' queries.

Turnover rate at commercial seems to be quite high too... I was liaising with some people during my interim last time. When it comes to finals, about one fifth of them were no longer in the company...

That is what I observed from the engagements I worked on. I'm not sure about other clients.

OT in MNC is very common. My MNC client always send email at 11pm and during weekends

However, those smaller clients like never OT one. My SME client in Joo koon whole office empty by 6pm. Same for those clients in Tuas. 5pm go home liao

Originally Posted by Unregistered

From what I observe, WLB at commercial seems to be also quite bad. During month end closing, they have to work until 10 to 11 pm from what the client staff told me. On top of their work, they have to respond to auditors' queries.

Turnover rate at commercial seems to be quite high too... I was liaising with some people during my interim last time. When it comes to finals, about one fifth of them were no longer in the company...

That is what I observed from the engagements I worked on. I'm not sure about other clients.

Snr mgr spotted, must be worrying about shortage of manpower now. FYI month end closing OT is a norm, however, they only OT once or twice a month. Other days they just end work on time. Yes almost all finance dept personnel have to respond to auditors which is why they all hate auditors. Dont try to scare fresh associates and hope they stay to be your slaves

Originally Posted by Unregistered

Last time my team mgr, partner say can give by next Friday

He will ask the staff to give by Monday so he can impress the partner , at the same time , he won’t work the weekends as he will review on Monday

So who suffer? The staff and snr in between who has to work over weekends lah

U ask me why audit not worth it. Cos the 5 years of this kind of sabo never stop until u become mgr. the pay at Mgr also 7-8 k only. U work in commercial if u good enuf plus jump one time. Is not that difficult to get the same pay with Better working hours

5 years will pass in the blink of an eye one..

2017 doesn’t feel that long ago, now 2022 liao.

Thanks to covid 2020 onwards time flies very fast.

Originally Posted by Unregistered

why would managers want to make the staff suffer? they used to be associates and seniors too... should have some empathy right? i don't get it...

It is not that they want us to suffer lah.

But its that they have went through a period of challenging pressure, and survived through it, so they will tend to have the same expectation that you should do what they did when they were your level.

There is a survivor bias - because those people who didn't make it through, are no longer around, so I observe the people who stayed, are those who can withstand pressure.

Originally Posted by Unregistered

Tbh i dont get why you are lost. If you can continue to grind in audit then of course just stay and get the continual promotion. If you prefer WLB then go to commercial. Obviously pay will stagnate at AM/M level in commercial. There is no best of both worlds

But we are just venting online mah, so for discussion sake, if you ask me what I want, of course I will tell you I want both money and WLB.

Actually is low audit fees (that are not in line of the increasing audit job scope, increasing size of business of recurring clients, actual manpower and time requirement, etc.) root cause for all the unhappiness?

PwC has increased the charge-out rates for most its employees from 1 Jan 2022 onwards. To what extent will that alleviate the current problems?

Originally Posted by Unregistered

Actually is low audit fees (that are not in line of the increasing audit job scope, increasing size of business of recurring clients, actual manpower and time requirement, etc.) root cause for all the unhappiness?

PwC has increased the charge-out rates for most its employees from 1 Jan 2022 onwards. To what extent will that alleviate the current problems?

last time EY charge our rate for intern was $10 per hour.

Originally Posted by Unregistered

Actually is low audit fees (that are not in line of the increasing audit job scope, increasing size of business of recurring clients, actual manpower and time requirement, etc.) root cause for all the unhappiness?

PwC has increased the charge-out rates for most its employees from 1 Jan 2022 onwards. To what extent will that alleviate the current problems?

This is what EY did and it led to a mass exodus. The new charge out rates will artificially lower the margins and staff got squeezed.

Hearsay blue increasing fresh grad pay this year, anyone can confirm this?