Q: Big4 - Yearly salary increment

Originally Posted by Unregistered

Damn, Posts like these make me feel old.

I come from a time where people work hard for 2nd Upper because it’ll improve their odds of getting into Big Four, and even the FCH / some Dean Listers head to Big Four to kickstart their career.

Yea we know about the hours and the low points of the job, but we felt the trade offs were justified with accelerated progression, learning opportunities, and getting to manager in just five years.

All these hoops for a 3k starting salary? Same as the jhks

Originally Posted by Unregistered

I wait 5 to 6 mths for this. After this is call interview then video record interview then zoom or msteam interview then see rejected anot.. b4 interview need do short assay.. i got rejected .. yellow god bless

Waited 5-6 months for your application status to change to under review? Also, For which role?

Originally Posted by Unregistered

All these hoops for a 3k starting salary? Same as the jhks

During my time it wasn’t even 3k yet.

But to us we saw more long term instead of going after instant gratification.

So it wasn’t all about the salary, as unusual as that may sound.

://.afr.com/companies/professional-services/ey-to-tell-staff-spin-off-will-offer-more-opportunities-20220608-p5as2m

Nobody concerned about this? EY split of consulting arm? Lesser upside as a partner in the audit entity if yellow splits audit & consulting.

===============
But an executive search veteran who works in the sector warned that the financial attraction of becoming a partner would be diluted if EY’s consulting operation had outside ownership.

This was because a share of the profit would have to go to the new owners or shareholders in a separated advisory firm, rather than being distributed to equity partners as is currently done, he said.

“If you’re not a partner, what does it mean for you? I would suggest some of the attraction of working in the environment would be diluted,” the person said. “A large attraction of working at a firm like EY is to become an equity partner. So if you are not a [currently a] partner, I would suggest you’re not going to benefit much from any transaction.

Partners have ‘vested interest’ in a split
The veteran, who asked not to be named because he did not want to upset EY’s partnership, said the staff would be keenly aware that partners had a “vested interest” in promoting the split because they would be in line for a windfall if the consulting arm was split.

“That’s going to drive certain behaviours and bias around the transaction itself. I don’t think the immediate transaction is inevitable. If you’re an experienced equity partner... they will be expecting at least a seven-figure payout. I also don’t buy into the narrative it’s going to make more opportunities naturally.”

Another executive search veteran, Warwick Bowd, a managing partner at executive search firm Derwent, said any split would disrupt the steady partnership path that big four firms offered staff.

Warwick Bowd, a managing partner at executive search firm Derwent.

“The whole big four career proposition is largely based around a steady, somewhat predictable pathway to partnership, so when you have uncertainty or speculation of any kind it has the potential to make people feel uncomfortable,” Mr Bowd said
======
The senior EY source rejected the idea that the split was being examined purely to line the pockets of equity partners, but acknowledged that the partners would be well aware they would receive the bulk of the proceeds of any sale.

Originally Posted by Unregistered

://.afr.com/companies/professional-services/ey-to-tell-staff-spin-off-will-offer-more-opportunities-20220608-p5as2m

Nobody concerned about this? EY split of consulting arm? Lesser upside as a partner in the audit entity if yellow splits audit & consulting.

===============
But an executive search veteran who works in the sector warned that the financial attraction of becoming a partner would be diluted if EY’s consulting operation had outside ownership.

This was because a share of the profit would have to go to the new owners or shareholders in a separated advisory firm, rather than being distributed to equity partners as is currently done, he said.

“If you’re not a partner, what does it mean for you? I would suggest some of the attraction of working in the environment would be diluted,” the person said. “A large attraction of working at a firm like EY is to become an equity partner. So if you are not a [currently a] partner, I would suggest you’re not going to benefit much from any transaction.

Partners have ‘vested interest’ in a split
The veteran, who asked not to be named because he did not want to upset EY’s partnership, said the staff would be keenly aware that partners had a “vested interest” in promoting the split because they would be in line for a windfall if the consulting arm was split.

“That’s going to drive certain behaviours and bias around the transaction itself. I don’t think the immediate transaction is inevitable. If you’re an experienced equity partner... they will be expecting at least a seven-figure payout. I also don’t buy into the narrative it’s going to make more opportunities naturally.”

Another executive search veteran, Warwick Bowd, a managing partner at executive search firm Derwent, said any split would disrupt the steady partnership path that big four firms offered staff.

Warwick Bowd, a managing partner at executive search firm Derwent.

“The whole big four career proposition is largely based around a steady, somewhat predictable pathway to partnership, so when you have uncertainty or speculation of any kind it has the potential to make people feel uncomfortable,” Mr Bowd said
======
The senior EY source rejected the idea that the split was being examined purely to line the pockets of equity partners, but acknowledged that the partners would be well aware they would receive the bulk of the proceeds of any sale.

Final year local uni student here. This is very informative, thank you for this

Originally Posted by Unregistered

://.afr.com/companies/professional-services/ey-to-tell-staff-spin-off-will-offer-more-opportunities-20220608-p5as2m

Nobody concerned about this? EY split of consulting arm? Lesser upside as a partner in the audit entity if yellow splits audit & consulting.

Obviously nobody cares about this here lah. The horizon of posters here doesn't even extend beyond 3 years given the obsession with minute pay increases, job applications and bashing foreigners. You can tell that everyone here is either a uni student, a fresh grad or A1-A2.

Only SMs and above care about this, and they wouldn't be posting here.

how many partners did yellow admit this year

Originally Posted by Unregistered

Damn, Posts like these make me feel old.

I come from a time where people work hard for 2nd Upper because it’ll improve their odds of getting into Big Four, and even the FCH / some Dean Listers head to Big Four to kickstart their career.

Yea we know about the hours and the low points of the job, but we felt the trade offs were justified with accelerated progression, learning opportunities, and getting to manager in just five years.

After 5 years another 5 years. And after 40s still doing no value or purpose stuff. Some evb some ethical issues to short cut and falsify findings. Chasing for position and cash while doing the wrong thing or no purpose shyt.

Originally Posted by Unregistered

During my time it wasn’t even 3k yet.

But to us we saw more long term instead of going after instant gratification.

So it wasn’t all about the salary, as unusual as that may sound.

times have changed

Originally Posted by Unregistered

Obviously nobody cares about this here lah. The horizon of posters here doesn't even extend beyond 3 years given the obsession with minute pay increases, job applications and bashing foreigners. You can tell that everyone here is either a uni student, a fresh grad or A1-A2.

Only SMs and above care about this, and they wouldn't be posting here.

Got a few SAs la