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For example, for those that lateral hired from IB to M&A in big 4 (e.g. for a better lifestyle), how would their compensation level be decided? |
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3k for associate is already a pay rise from previous years, not bad. used to be 2.7k entry. |
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old salary scheme 2.7k x (12 + 2) = 37.8k (assume 2 mths bonus) current salary scheme 3.5k x 12 = 42k |
Sorry but I'm not getting the logic here, hope experienced bros can help clarify. So meaning on the first year joining PWC is just 3k x 12 with nothing else? No bonus no aws?
I mean I'm a bit shocked that a Big 4 can offer such lousy terms that is even worse than SME starting pay. AFAIK even a SIM grad joining a small local firm can get 2.5k x 12 + aws + 1.5-2mths variable which actually end up higher than PWC annual. I know the big 4 emphasize how their increment better, after few years better on the cv to look for other jobs etc. But honestly very shock that it can be so pathetic low at the start. If it's really that bad then I can understand now why so many of uni coursemate majoring in Finance are so desperate to join the banking side even if as back office admin support. |
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Even the supposed "high" and "fast" pay and career promotion isn't that great either. A typical big 4 associate get his manager after 5 year paid around 5k and maybe 1.5-2mths bonus, no aws. That's like 65-70k annual after 5 years, doesn't sound impressive to me either. A FCH guy with NS fresh grad can join civil service at 4k + merit component + performance bonus easily works out to 16 months which is almost the same as 5 year exp big4 annually. |
hi all, quick question
I will be graduating this year and i have signed on with KPMG as i think i have chance for 1st honours, thus the increase pay. So if i really manage to get 1st class, to get the increased pay, do i just collaborate with KPMG's HR? or does the additional salary not apply if i signed on (there is no mention of wage increasing if you sign on with KPMG on the contract). thanks in advance |
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On a side note, I am quite disturbed at the level of English displayed by a supposed FCH graduate, I hope this is not a true reflection of your language standards. |
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To answer your question, how do they get away with such lousy offers? They mainly rely on 2 selling points, supposedly better increments at least for the first few years with them and more importantly, the perception that big MNCs prefer candidates with some Big 4 experience. Many young grads basically suck thumb and treat this as serving "NS" for a few years in the hopes of picking up a better Finance job in a big MNC in the future. Fact of the matter is there are only so many big MNC/banking fresh grad positions available and usually only the best 20% of the cohort get them. Paying your dues in the Big4 remains a common option for the rest of the Finance grads to have a hope of building a future career. |
Associate Director - D2
I have an offer from (4 letter word big4) which shows title as Associate Director (D2) - would anyone know what is meant by D2 - IS it some grading/ ranking - if yes, then what is the grading structure.
The salary offered is 12K including CPF, is it at par with industry standards of big4 in Singapore. The role is in consulting function possibly RC/MC I need to respond on this offer, request your help in getting some insight |
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