Q: Big4 - Yearly salary increment

Originally Posted by Unregistered

Hi guys, after i spoken to my SM regarding my 6.2k JPM offer, she told me that it is not worth it because in the past during recession, foreign banks do not hesitate to lay off people. However, in big 4, they chose to retain their stuff and big 4 audit is an iron rice bowl. She said that once i go commercial my subsequent increment will only be at 3% but in audit the increment every year is 10% averagd. She also said that its harder to excel in banks compared to big 4 and given my.calirbe, she felt that i have the potential to stay in audit for long term and become a partner.

Any kind souls willing to advise:

tell ur SM go fk herself. and if real story, get ready to have ur name spread like wildfire in ur firm

Originally Posted by Unregistered

does Big 4 pay out Annual Wage Supplement (13 month) or is it included in the monthly?

big 4 pay u in exposure

Originally Posted by Unregistered

Hi guys, after i spoken to my SM regarding my 6.2k JPM offer, she told me that it is not worth it because in the past during recession, foreign banks do not hesitate to lay off people. However, in big 4, they chose to retain their stuff and big 4 audit is an iron rice bowl. She said that once i go commercial my subsequent increment will only be at 3% but in audit the increment every year is 10% averagd. She also said that its harder to excel in banks compared to big 4 and given my.calirbe, she felt that i have the potential to stay in audit for long term and become a partner.

Any kind souls willing to advise:

You are not very high calibre or important to your current engagement if your SM / partner does not offer you any other carrot to stay. After I tender during first year senior, one of the first thing that my engagement partners say is if there is anything they can do to make me stay.

6.2k assuming a 20-30% jump from your big4 salary means you should be second or first year associate? To be honest too early to say if you will be partner track.

But you should just stay if you are so easily swayed by your SM cheap words.

Originally Posted by Unregistered

tell ur SM go fk herself. and if real story, get ready to have ur name spread like wildfire in ur firm

Yeah just tell the SM to go and fk spider

Originally Posted by Unregistered

Hi guys, after i spoken to my SM regarding my 6.2k JPM offer, she told me that it is not worth it because in the past during recession, foreign banks do not hesitate to lay off people. However, in big 4, they chose to retain their stuff and big 4 audit is an iron rice bowl. She said that once i go commercial my subsequent increment will only be at 3% but in audit the increment every year is 10% averagd. She also said that its harder to excel in banks compared to big 4 and given my.calirbe, she felt that i have the potential to stay in audit for long term and become a partner.

Any kind souls willing to advise:

This sounds like the dumbest **** ever. If you are indeed partner calibre, you wouldn't even need to be asking this question here. You clearly don't have your **** sorted out, if you are partner calibre, and you join JPM, would you need to worry about progression and getting laid off?

There is a disconnect between what your SM is telling you about making partner and then telling you that you might be laid off, a good person progresses anywhere he or she goes. Sounds like complete ********, smells like complete ********, you couldn't catch the ********, or you fell for your SMs ****. You are not partner calibre. Get good.

://.afr.com/companies/professional-services/ey-may-spin-off-auditing-arm-20220527-p5aoyo

Global consulting powerhouse EY is considering splitting off its audit arm, amid increasing regulatory concerns about the conflict that has risen from the firm and its big four rivals providing non-audit work to auditing clients.

A string of audit-related failures across the world have triggered the regulatory crackdown, including the collapse of EY clients Wirecard and Luckin Coffee and KPMG UK audit client Carillion.
...

Wirecard, a German payment processor, filed for insolvency in 2020 after admitting that €1.9 billion ($3 billion) of cash on its books probably never existed. Luckin Coffee filed for bankruptcy this month amid allegations the company’s executives inflated income, costs and expenses for 2019.

The scandals have badly hurt EY’s ability to win work in Europe and China, according to rivals. In a partner briefing last year, Deloitte Global chief executive Punit Renjen said EY’s Wirecard issues would “haunt them, certainly in Europe” and that EY was “persona non grata in terms of audit in the Chinese market because of Luckin Coffee and Wirecard”.


Any news on this. Why yellow so jialat. Spinoff audit then how? Still will have Big4 "prestige" anot?

Originally Posted by Unregistered

://.afr.com/companies/professional-services/ey-may-spin-off-auditing-arm-20220527-p5aoyo

Global consulting powerhouse EY is considering splitting off its audit arm, amid increasing regulatory concerns about the conflict that has risen from the firm and its big four rivals providing non-audit work to auditing clients.

A string of audit-related failures across the world have triggered the regulatory crackdown, including the collapse of EY clients Wirecard and Luckin Coffee and KPMG UK audit client Carillion.
...

Wirecard, a German payment processor, filed for insolvency in 2020 after admitting that €1.9 billion ($3 billion) of cash on its books probably never existed. Luckin Coffee filed for bankruptcy this month amid allegations the company’s executives inflated income, costs and expenses for 2019.

The scandals have badly hurt EY’s ability to win work in Europe and China, according to rivals. In a partner briefing last year, Deloitte Global chief executive Punit Renjen said EY’s Wirecard issues would “haunt them, certainly in Europe” and that EY was “persona non grata in terms of audit in the Chinese market because of Luckin Coffee and Wirecard”.


Any news on this. Why yellow so jialat. Spinoff audit then how? Still will have Big4 "prestige" anot?

If not wrong ey singapore was involved right? Audit is not jia lat..is just cant find qualified ppl do audit now.
Go tok to ur boss.. everyone said the same thing..
they know how bad the quality of the staff now are.

Originally Posted by Unregistered

If not wrong ey singapore was involved right? Audit is not jia lat..is just cant find qualified ppl do audit now.
Go tok to ur boss.. everyone said the same thing..
they know how bad the quality of the staff now are.

They expect one person to tank everything in an MNC engagement and handle another engagement concurrently. Only siaolang will stay.

Originally Posted by Unregistered

://.afr.com/companies/professional-services/ey-may-spin-off-auditing-arm-20220527-p5aoyo

Global consulting powerhouse EY is considering splitting off its audit arm, amid increasing regulatory concerns about the conflict that has risen from the firm and its big four rivals providing non-audit work to auditing clients.

A string of audit-related failures across the world have triggered the regulatory crackdown, including the collapse of EY clients Wirecard and Luckin Coffee and KPMG UK audit client Carillion.
...

Wirecard, a German payment processor, filed for insolvency in 2020 after admitting that €1.9 billion ($3 billion) of cash on its books probably never existed. Luckin Coffee filed for bankruptcy this month amid allegations the company’s executives inflated income, costs and expenses for 2019.

The scandals have badly hurt EY’s ability to win work in Europe and China, according to rivals. In a partner briefing last year, Deloitte Global chief executive Punit Renjen said EY’s Wirecard issues would “haunt them, certainly in Europe” and that EY was “persona non grata in terms of audit in the Chinese market because of Luckin Coffee and Wirecard”.


Any news on this. Why yellow so jialat. Spinoff audit then how? Still will have Big4 "prestige" anot?

It is ok. EY SG just charge lower rates to attract more clients and overwork their staff to meet the unreasonable client expectations

Originally Posted by Unregistered

If not wrong ey singapore was involved right? Audit is not jia lat..is just cant find qualified ppl do audit now.
Go tok to ur boss.. everyone said the same thing..
they know how bad the quality of the staff now are.

The problem is assuming this spinoff is approved by the partners globally, who will wan to join yellow audit?

They will be joining some EY newco audit entity. Bo prestige since the consulting arms will be separate liao.

Part of the Big4 "selling point" is that they can call themselves "consultants" and that you're joining a "global consulting firm" even though ur really doing audit. Nobody feels shiok when they say they work in an "audit firm". More shiok to say "consulting firm".