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Q: Big4 - Yearly salary increment

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  #8021 (permalink)  
Old 16-06-2022, 02:30 PM
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S1 4.3 k really be like jk Ö

Work like mad dog pay less than industry entrant pay

5 year later jump out no hair also no guarantee 10k per month

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  #8022 (permalink)  
Old 16-06-2022, 02:34 PM
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How much does Foo kon tan pay?

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  #8023 (permalink)  
Old 16-06-2022, 08:31 PM
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huat ah huat

jhk SM can draw 30k MYR per month, one year 360k MYR
one year one terrace house back in jiuhu land no problem

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  #8024 (permalink)  
Old 16-06-2022, 09:00 PM
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Is it true when we complete all the SQP in blue, there is a guaranteed increment?
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  #8025 (permalink)  
Old 16-06-2022, 09:23 PM
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Quote:
Originally Posted by Unregistered View Post
BT: Audit sector's manpower crunch set to
worsen as options for grads, juniors abound
Mid-sized accounting firm Foo Kon Tanís managing director Kon Yin Tong told BT that its attrition rate has more than doubled from the previous year, even as talent pools shrank, with Nanyang Technological University (NTU) taking in fewer accountancy students.
*****

Lmao Mr Kon should seriously ask himself what his firm is paying its staff then he'll have his answer why every one is leaving for other pastures.
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  #8026 (permalink)  
Old 16-06-2022, 09:23 PM
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Quote:
Originally Posted by Unregistered View Post
BT: Audit sector's manpower crunch set to
worsen as options for grads, juniors abound
Audit is like a late game hero and you get to shine as you stay longer. I advise people not to fall for instant gratification so as to achieve your long term career aspirations. Do not forget that once you exit into commercial, you will be stagnant for years but in audit you get to promote every single year till you are Senior Manager.

I had a batch mate who stayed on all the way and became an equity partner eventually. He earns so much (salary + profit sharing + % of audit fees) that he could just easily retire in the next few years. Those people who left earlier have no choice but to slog to 65 whereas and equity partner can easily retire before 55. You put in extra hours in your career early to reap what you sow.

In addition, global recession is coming (Russian war, hyperinflation) and most companies are embarking on retrenchment exercise (e.g crypto, big tech). No where else is safer compared to big 4 when comes to job security. So what if you managed to get an offer outside knowing that you can be retrenched anytime? Lack of foresight as expected from fresh grad nowadays
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  #8027 (permalink)  
Old 16-06-2022, 09:41 PM
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Quote:
Originally Posted by Unregistered View Post
Audit is like a late game hero and you get to shine as you stay longer. I advise people not to fall for instant gratification so as to achieve your long term career aspirations. Do not forget that once you exit into commercial, you will be stagnant for years but in audit you get to promote every single year till you are Senior Manager.

I had a batch mate who stayed on all the way and became an equity partner eventually. He earns so much (salary + profit sharing + % of audit fees) that he could just easily retire in the next few years. Those people who left earlier have no choice but to slog to 65 whereas and equity partner can easily retire before 55. You put in extra hours in your career early to reap what you sow.

In addition, global recession is coming (Russian war, hyperinflation) and most companies are embarking on retrenchment exercise (e.g crypto, big tech). No where else is safer compared to big 4 when comes to job security. So what if you managed to get an offer outside knowing that you can be retrenched anytime? Lack of foresight as expected from fresh grad nowadays
first thing first, do u even have an idea how difficult is it to become an equity partner? thinking abt partnership when joining as fresh grad is as ridiculous as expecting to become a managing director of Mcdonalds when u are still a cashier. Now the big 4 has a lot of reverse pyramid in some teams, with lots of SM and director continue to dream on of being partner but no one at the above is giving up spot. Good luck making partner before 45.

2nd pt , big 4 partners *audit service* are not earning as much as before. Every firm in the industry has no service differentiation becos audit is a statutory requirement. price under cutting between firms are very common. In addition, i think u should have heard the winds of consulting service to be isolated from audit. If that happens, another cut on the partner's share of profits cos the audit service margin not that high

last, slogging away your early career years is not as easy as what you are typing here. It means no family time, no time for your mental and physical health. Most partners in my office were obese or have some hidden illness.

srsly, for any fresh grad out there, dont buy in the suffer now enjoy later propaganda. Nth is worth your health. If you want a meaningful career and u have the will to work hard, rather spend your time in a more meaningful job than audit. Do a job that create value or make a difference, rather than win by "who tahan till the last" Audit is a sunset industry anyways, you think big 4 wont retrench ppl? think again. eventually it is a private org not a state owned iron rice bowl.
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  #8028 (permalink)  
Old 16-06-2022, 09:43 PM
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I agree that itís a late game hero.

But thereís no point when you end the game early.
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  #8029 (permalink)  
Old 16-06-2022, 09:54 PM
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Can anyone tell me if itís really hard for introverts to survive in audit industry? Itís quite mentally draining to attend those social events, drinking sessions and faking a bubbly personalityÖ
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  #8030 (permalink)  
Old 16-06-2022, 10:00 PM
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Statistically the odds of being made equity partner are very high. (digress abit: contrary to popular belief, 'high odds' means something is very unlikely while 'low odds' means very likely).

One's stamina and staying power is dependent on many intrinsic factors that's not simply about consciously choosing to outlast your peers or not. Everyone hopes to outlast their peers and get the equity partner pot of gold, but it's not so simple.

And this is not even talking about the other extrinsic factors, e.g. luck, whether you work under the right department/team/partner, audit the right clients, well liked in the firm with many people championing your partnership.

You think 90% of young auditors don't have a game plan to make partner? But how many will actually follow through with the game plan even after Year 2?
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