Q: Big4 - Yearly salary increment

Originally Posted by Unregistered

was drawing 6k as an associate and had a huge pay bump to 8.5k as a senior in deloitte consulting

i'm the guy that posted this comment. I agree that in most other line of service like tax and audit .. the associates get some where between 3k to 3.5k (depending on whether they are first year or 2nd year) and probably 4.1-4.4k as a senior associate.

however, as someone else who has rightfully pointed out... don't be close minded. the consulting business runs separately from the other lines.. if you notice... each consulting practice is run differently as we are all separate legal entities in the Deloitte umbrella. Thus, we are governed and runned differently and we do not follow the same compensation structure as tax or audit. Infact, you may also notice slight discrepancies in salary and bonus payouts for each level between tax and audit.. don't believe, go ask around.. so if the pay structure for these lines are already differing.. what more about the consulting line especially when our margins are much higher and we have a lower headcount.

That said... you should not be surprised that there are others in my line getting more than me as a senior.. i heard of someone else drawing 9k as a consultant.

Originally Posted by Unregistered

in lim kopi thread, quote chiu first for fake news

It really is quite sad that people are demeaning others here.
Just because you do not have the capacity to accomplish this doesn't mean others are unable to.
If it really was a lie, then the existence of multimillionaires and managers below 30 y/o are fake too.
You need to grow up.

Originally Posted by Unregistered

i'm the guy that posted this comment. I agree that in most other line of service like tax and audit .. the associates get some where between 3k to 3.5k (depending on whether they are first year or 2nd year) and probably 4.1-4.4k as a senior associate.

however, as someone else who has rightfully pointed out... don't be close minded. the consulting business runs separately from the other lines.. if you notice... each consulting practice is run differently as we are all separate legal entities in the Deloitte umbrella. Thus, we are governed and runned differently and we do not follow the same compensation structure as tax or audit. Infact, you may also notice slight discrepancies in salary and bonus payouts for each level between tax and audit.. don't believe, go ask around.. so if the pay structure for these lines are already differing.. what more about the consulting line especially when our margins are much higher and we have a lower headcount.

That said... you should not be surprised that there are others in my line getting more than me as a senior.. i heard of someone else drawing 9k as a consultant.

I'm not surprised. i'm from another big 4 and it only makes sense to pay at industry standards. I noticed that our tech consulting team has been poaching people from accenture and other boutique consulting firms. I know for a fact that accenture management consultants at the senior equivalent level (i.e. 2-3 years of work experience) draws somewhere beween 6-7k in accenture, so if people from accenture are jumping over to the big 4s, I'm assuming they are getting a higher compensation and if there were remunerated at about 8.5k, that would be a 20% increment which seems fairly reasonable.

Originally Posted by Unregistered

i'm the guy that posted this comment. I agree that in most other line of service like tax and audit .. the associates get some where between 3k to 3.5k (depending on whether they are first year or 2nd year) and probably 4.1-4.4k as a senior associate.

however, as someone else who has rightfully pointed out... don't be close minded. the consulting business runs separately from the other lines.. if you notice... each consulting practice is run differently as we are all separate legal entities in the Deloitte umbrella. Thus, we are governed and runned differently and we do not follow the same compensation structure as tax or audit. Infact, you may also notice slight discrepancies in salary and bonus payouts for each level between tax and audit.. don't believe, go ask around.. so if the pay structure for these lines are already differing.. what more about the consulting line especially when our margins are much higher and we have a lower headcount.

That said... you should not be surprised that there are others in my line getting more than me as a senior.. i heard of someone else drawing 9k as a consultant.

Don't joke around la. As someone who did time in Big 4 consulting, I can tell you there's no "special snowflake" hire who is getting higher pay than others of the same grade. At most, the partner will take you in at a few hundred dollars higher, but once you are promoted you join the same pay scale as others.

It wasn't too long ago that fresh hires to Big 4 don't even qualify for credit card.

Originally Posted by Unregistered

i'm the guy that posted this comment. I agree that in most other line of service like tax and audit .. the associates get some where between 3k to 3.5k (depending on whether they are first year or 2nd year) and probably 4.1-4.4k as a senior associate.

however, as someone else who has rightfully pointed out... don't be close minded. the consulting business runs separately from the other lines.. if you notice... each consulting practice is run differently as we are all separate legal entities in the Deloitte umbrella. Thus, we are governed and runned differently and we do not follow the same compensation structure as tax or audit. Infact, you may also notice slight discrepancies in salary and bonus payouts for each level between tax and audit.. don't believe, go ask around.. so if the pay structure for these lines are already differing.. what more about the consulting line especially when our margins are much higher and we have a lower headcount.

That said... you should not be surprised that there are others in my line getting more than me as a senior.. i heard of someone else drawing 9k as a consultant.

This is rubbish. Consultants at Monitor Deloitte do earn around that, the rest of Deloitte consulting be it S&O or whatever umbrella you wanna call it earn far less.

correct on the Accenture part. consultants in Accenture can easily hit 6-7k after just 2 years of working. then hit 10k+ with the next promotion after 3-4 years more. total around 6 years to hit 10k on average.

if you are a NS serving male, 6 years of your career after grad would be around 31 years old.
females would be 29 years old.

I am an actuarial senior consultant at deloitte and i can testify that qualified actuaries here make close to 10k with 3-4 years exp.

We are probably a different case since we have exam increments.

(the guy who posted the 8.5 pay)

as mentioned previously, most ppl are not on this kind of pay scheme in a big 4.. thats largest because of the project finance dynamics. I reckon such pay structures tend to gravitate towards roles where the teams are extremely lean in the big 4. For instance, actuarial science, tech consulting etc.

my team is really lean.. e.g. there are only less than 10 of us in my team.. so like i said in my earlier post. i heard of my peer drawing 9k and has only 3 years of experience. But i personally can't verify this. Only for my own pay - Yes, i'm drawing 8.5k/mth.

As mentioned above, if you think about it from a our projects sell anywhere from 30k - 200k and generally they last for a month or maybe a little more or under. ...I generally have 4- 7 on-going projects at any one time. Why isn't it possible to pay me 8.5k as a team member supporting my manager(who probably draws a salary of 15k a month?)? The staff cost is probably the largest overhead for the partner. If the partner isn't able to compensate industry stanard pay... then which consultant will want to join the big 4?

From a project finance perspective, the overheads for an audit engagement are way signfincantly higher relative to our consulting projects. That said, it won't make economic sense to pay seniors in audit anywhere close to our salary. You can have like multiple associates and seniors on an audit engagement. We don't run engagements like that.. generally we only have 2 ppl supporting on any one project and the partners does the BD work (we support like pitching and putting together the slide deck and stuff)... but u get the idea... our recoverability is way higher than audit for sure.

Hi

I want to check if the big four in singapore offer promotion bonuses.

For example a cash incentive of xx K redeemable now or xx+yy K redeemable in the near future like its US operations.

Thank you

Originally Posted by Unregistered

(the guy who posted the 8.5 pay)

as mentioned previously, most ppl are not on this kind of pay scheme in a big 4.. thats largest because of the project finance dynamics. I reckon such pay structures tend to gravitate towards roles where the teams are extremely lean in the big 4. For instance, actuarial science, tech consulting etc.

my team is really lean.. e.g. there are only less than 10 of us in my team.. so like i said in my earlier post. i heard of my peer drawing 9k and has only 3 years of experience. But i personally can't verify this. Only for my own pay - Yes, i'm drawing 8.5k/mth.

As mentioned above, if you think about it from a our projects sell anywhere from 30k - 200k and generally they last for a month or maybe a little more or under. ...I generally have 4- 7 on-going projects at any one time. Why isn't it possible to pay me 8.5k as a team member supporting my manager(who probably draws a salary of 15k a month?)? The staff cost is probably the largest overhead for the partner. If the partner isn't able to compensate industry stanard pay... then which consultant will want to join the big 4?

From a project finance perspective, the overheads for an audit engagement are way signfincantly higher relative to our consulting projects. That said, it won't make economic sense to pay seniors in audit anywhere close to our salary. You can have like multiple associates and seniors on an audit engagement. We don't run engagements like that.. generally we only have 2 ppl supporting on any one project and the partners does the BD work (we support like pitching and putting together the slide deck and stuff)... but u get the idea... our recoverability is way higher than audit for sure.

How are your working hours like?