Q: Big4 - Yearly salary increment

Originally Posted by Unregistered

This is rather decent; let's not put people down like this ok?

After paying 3 to 4 years in uni fees, bringing them up, to only be earning 2.4k

Originally Posted by Unregistered

After paying 3 to 4 years in uni fees, bringing them up, to only be earning 2.4k

Enough to bring bread to the table la hor. What do you think is an acceptable starting salary then?

Originally Posted by Unregistered

Enough to bring bread to the table la hor. What do you think is an acceptable starting salary then?

Parents of Big 4 graduates must start to recognize an impairment loss on their children the moment they sign the contract with big4

Originally Posted by Unregistered

Parents of Big 4 graduates must start to recognize an impairment loss on their children the moment they sign the contract with big4

Lmaooo I love this haha! On a hindside if the children pia enough to be manager after 5-6 years with a salary of 6k, not bad right?

Originally Posted by Unregistered

Lmaooo I love this haha! On a hindside if the children pia enough to be manager after 5-6 years with a salary of 6k, not bad right?

Still must recognise impairment loss.

6k after 5 to 6 years is still very underperforming, indicators of impairment

I don’t know why b4 don’t want to raise starting salary?
Behind the times.
Or they really think ppl will come to them for brand name still.

Meanwhile all the partners starting to retire

Originally Posted by Unregistered

I don’t know why b4 don’t want to raise starting salary?
Behind the times.
Or they really think ppl will come to them for brand name still.

Meanwhile all the partners starting to retire

The work they do is menial and not meaningful, the salary is decent for the crapy work they xo

Originally Posted by Unregistered

I don’t know why b4 don’t want to raise starting salary?
Behind the times.
Or they really think ppl will come to them for brand name still.

Meanwhile all the partners starting to retire

Simply because audit services are hard to differentiate between the big4
If you increase salary you have to increase the charge rate to clients. Once u increase charge rates to clients, clients go for another big4 firm which can charge lower since no differentiated services anyway.

Big4 firms need to collude and increase the charge rate together before they can increase salaries of auditors. But even then, they will lose to boutique firms which can charge lesser due to them being more cheapo with salaries.

As you can tell by now; its a race to the bottom. See who is willing to charge lesser and hence have more business. So pay will never increase. You see HR like in EY resorting to stupid reasons in order to attract fresh grads, reasons like
1. Young workplace (of course this is gonna be young because experienced people would never want to work long hours for that low pay right? So they have to dupe new blood to join the firm everytime)
2. Work anywhere (if you are on project of course you have to work where your project is at. This counts as anywhere technically right?)
3. Pantry (pantry restock at most $200 per week. Cheaper than increasing pay for auditors lol)

I mean come on..

Originally Posted by Unregistered

Simply because audit services are hard to differentiate between the big4
If you increase salary you have to increase the charge rate to clients. Once u increase charge rates to clients, clients go for another big4 firm which can charge lower since no differentiated services anyway.

Big4 firms need to collude and increase the charge rate together before they can increase salaries of auditors. But even then, they will lose to boutique firms which can charge lesser due to them being more cheapo with salaries.

As you can tell by now; its a race to the bottom. See who is willing to charge lesser and hence have more business. So pay will never increase. You see HR like in EY resorting to stupid reasons in order to attract fresh grads, reasons like
1. Young workplace (of course this is gonna be young because experienced people would never want to work long hours for that low pay right? So they have to dupe new blood to join the firm everytime)
2. Work anywhere (if you are on project of course you have to work where your project is at. This counts as anywhere technically right?)
3. Pantry (pantry restock at most $200 per week. Cheaper than increasing pay for auditors lol)

I mean come on..

One of the more meaningful and constructive opinion on big4.

ARC need to look beyond just $$
Should evaluate quality of work, audit staff turn over (everything needs to be relearned)
In US got initiatives by PCAOB to raise quality and standards, not sure anything by ACRA