Q: Big4 - Yearly salary increment

Originally Posted by chickpig

Your data is inaccurate. There is no MD pay that is 40% of BB FO. You must have mistaken it for Deloitte Consulting (non-MD). MD pay starts in the ballpark of BB FO, requires MBA qualification, and don't hire bachelor's fresh grads.

Tell me I’m wrong for EY-P then. Strat& is around 6k ish as well.

[chickpig]

Originally Posted by Unregistered

Tell me I’m wrong for EY-P then. Strat& is around 6k ish as well.

Yes, EY-P is currently the lowest paying of Big 4 Strategy. They used to pay very high starting as Parthenon Group (comparable to Bain and Oliver Wyman back then), then EY reduced their starting pay significantly. Strat& is correct, roughly the likes of McK and BCG, and the MBB do compete with BB FO for talent. Strategy Consulting might not match BB FO in terms of compensation/salary, but they still do compete quite directly for similar pool of talent in terms of calibre/pedigree (Ivy League, Oxbridge etc.)

Originally Posted by chickpig

Yes, EY-P is currently the lowest paying of Big 4 Strategy. They used to pay very high starting as Parthenon Group (comparable to Bain and Oliver Wyman back then), then EY reduced their starting pay significantly. Strat& is correct, roughly the likes of McK and BCG, and the MBB do compete with BB FO for talent. Strategy Consulting might not match BB FO in terms of compensation/salary, but they still do compete quite directly for similar pool of talent in terms of calibre/pedigree (Ivy League, Oxbridge etc.)

Regardless, no one in Parthenon, Strat& and MD likes to be associated with their parent company. Essentially they are just strat houses acquired by Big 4.

[chickpig]

Originally Posted by Unregistered

Regardless, no one in Parthenon, Strat& and MD likes to be associated with their parent company. Essentially they are just strat houses acquired by Big 4.

Quite true

Originally Posted by Unregistered

Nope. It takes 5 years on average for someone to reach AM in Big 4. Where did you get info that it takes more than 5 years? Purely on a sample of LinkedIn profiles that you see online? Lolol

Year 1-2: Associate
Year 3-4: Senior Associate
Year 5: Assistant Manager
By the 6th year (i.e. after 5 years of working), it'll be Manager Year 1. No doubt there are people who retain (especially the Malaysians) but the typical timeline is as such.

Perhaps you aren't as smart as even a lowly auditor if you can't even understand such a simple career progression timeline lol

I'm not sure about other depts in B4 but in certain advisory functions, it's possible to be M with 4 years of exp (double promotion at Senior Associate level) and now M pay has been recalibrated to mid 7k. Gone are the days of 6k pm as fresh M.

Originally Posted by Unregistered

This.

Actually have a few friends in BBs whom were freshly promoted to VP at the start of this year, drawing 11-12k base at their 7th year.

Agree that fresh VPs in BB MO/BO start at 10k or more but given the nature of MO/BO (non-revenue generating), most get stuck at Associate level if there's no headcount opening at VP level (and most would be happy to cruise at VP level/ lifers). So, it's not as straight-forward as automatic promotion to VP for MO/BO functions as say FO (also not easy, as you are assessed based on your ability to bring in business at that stage - "up or out" culture)

Back to Big 4, anyone received onboarding details for graduate intake?

Originally Posted by Unregistered

Back to Big 4, anyone received onboarding details for graduate intake?

Yes, you received your slave collar already?

Originally Posted by Unregistered

Am I missing something? Regardless whether it’s 5, 6 or 7 years to make manager - what’s the big deal earning 6k+ at the start of your 6th/7th/8th year?

Still dam little in my book

Think you relied on the jobs survey from 5 years ago? New M pay has been raised and is now about 7.5k

Originally Posted by Unregistered

LOL! So funny! Like 2 kids fighting.
Stop spreading fake news about the banks la lol what 10K. Full of crap. Even funnier someone even started to put some LinkedIn profile names!

I wonder why someone who’s blowing big trumpet about the banks is so free to post so much on this forum 🤣

Hahahaha this is so funny. I see BB MO/BO kids talking down to B4 peeps but you guys are just equally as bad if not worse in the eyes of BB FO guys. I’m guessing you got ridiculed or treated like dirt by FO guys in your day to day, that’s why you’re here to vent it out on B4 guys. Instead of spending so much time on this forum to talk to down to others, make sure they do a proper job of clearing trades and work double time to clear KYC. Or better, improve your skills so you can get out of your dead-end MO/BO role.

Source: Associate at BB Global Markets who can’t stand the ego of some of these MO/BO pricks