Q: Big4 - Yearly salary increment

Originally Posted by randomfreshgrad

i know, unfortunately im part of the "AAA" cohort when i applied before NS, and graduating when the course transitioned in that 6 years.

You bet on the wrong horse, else you just jump bandwagon without knowing anything about the horse.

People with CCC in your cohort who chose comp science now probably earning way more than you.

Originally Posted by randomfreshgrad

hello current or ex auditors!

im about to graduate and am looking for job. Currently have an offer from kpmg start $3.6k (heard from my friend he was offered 3.5k from EY). But of course I was thinking if Im going to exit audit next time, might as well straight join the industry right? Or should I unwillingly join audit to springboard to better roles in 1-2 yrs time? Currently not getting accepted for all those management associate programmes so abit sian (barely 2nd upper)

For context I will be going financial service so would joining Banks as entry level staff be better? (e.g. Treasury, AML, Credit, etc.)

They pay u 3.6k and expect u to work from 8am to 5pm (first shift), 6pm to 2am (second shift). Be ready! We currently lack seniors so you should expect 200% exposure as you will be leading jobs and meeting clients on your own. If u didnt have audit experience, your intern will outshine you as they have more to prove.

Dont cry when u have backlogs with your managers, your partners, your seniors, your clients breathing down your throat. for 3.6k is not worth it. There is no springboard by going to the big 4 because everyone else has big 4 experience (locally or malaysia). But u will do worst if u don't have that experience. So its a norm now. What you should do is to NEVER fall into the big 4 rat race, you should do something that isn't accounts

Originally Posted by Unregistered

Back then our documentations and regulations were much simpler so we actually had the time to learn business domain knowledge. A few of my batchmates even used it to help start a business in the industry they audited.

But it's not possible anymore these days due to the workload. When I hear my niece telling me about what auditors have todo these days, I feel that there is no way auditors have the time to learn anything useful these days, like you guys even have to work on engagements while doing audit training. I've even been asking around to help her leave but she will need to start from fresh grad level, in that case what is even the point of joining audit in the first place? You are even forbidden from opening bank accounts and buying stocks of companies you don't even work on.

Honestly the Big 4 in Singapore should just change their name to Poh Wan Cheng Pte Ltd and Kok Phua Mun Goh Pte Ltd since they seem to be no different from Chinaman firms.

I also noticed that during my internship. Apart from the workload, auditors even need to present data analytics things as part of the 'AI trend', on top of all those tight deadline. What's worse is that I honestly think that the end product the team had was really a waste of time but the higher ups insist on wanting them because "client will be impressed".

Originally Posted by Unregistered

You bet on the wrong horse, else you just jump bandwagon without knowing anything about the horse.

People with CCC in your cohort who chose comp science now probably earning way more than you.

well, i was from poly accounting and i quite liked this horse. Until i realize the situation in the industry currently.

Originally Posted by randomfreshgrad

I also noticed that during my internship. Apart from the workload, auditors even need to present data analytics things as part of the 'AI trend', on top of all those tight deadline. What's worse is that I honestly think that the end product the team had was really a waste of time but the higher ups insist on wanting them because "client will be impressed".

its another way partners use to raise audit fee
client are not impressed, they are just lazy and tend to be stupid, they just think its easier to understand by looking at summary and pictures

if 80% of the big 4 audit industry is malaysian, it also means 80% of those on PIP are malaysian.

What partners realize by now is malaysias are cmi. Weekend they go back their home country and never do work.
of course there are outstanding goods ones who are more than willing to throw their life away for 3.5 and afford a bungalow to retire in malaysia.

I do hope more locals join big 4, so that we can put these malaysians in place. less space for them JHK means better culture.

i'm an ex big 4, and i always protect my singaporean A1s.

Originally Posted by Unregistered

if 80% of the big 4 audit industry is malaysian, it also means 80% of those on PIP are malaysian.

What partners realize by now is malaysias are cmi. Weekend they go back their home country and never do work.
of course there are outstanding goods ones who are more than willing to throw their life away for 3.5 and afford a bungalow to retire in malaysia.

I do hope more locals join big 4, so that we can put these malaysians in place. less space for them JHK means better culture.

i'm an ex big 4, and i always protect my singaporean A1s.

The reason why Local SME audit firm is better cause they got no quota for foreigners, can only hire locals.

Originally Posted by Unregistered

if 80% of the big 4 audit industry is malaysian, it also means 80% of those on PIP are malaysian.

What partners realize by now is malaysias are cmi. Weekend they go back their home country and never do work.
of course there are outstanding goods ones who are more than willing to throw their life away for 3.5 and afford a bungalow to retire in malaysia.

I do hope more locals join big 4, so that we can put these malaysians in place. less space for them JHK means better culture.

i'm an ex big 4, and i always protect my singaporean A1s.

Sounds personal. Who is this jhk colleague you talking abt?

Originally Posted by Unregistered

if 80% of the big 4 audit industry is malaysian, it also means 80% of those on PIP are malaysian.

What partners realize by now is malaysias are cmi. Weekend they go back their home country and never do work.
of course there are outstanding goods ones who are more than willing to throw their life away for 3.5 and afford a bungalow to retire in malaysia.

I do hope more locals join big 4, so that we can put these malaysians in place. less space for them JHK means better culture.

i'm an ex big 4, and i always protect my singaporean A1s.

Weird that only the accounting industry hires truckload of JHKs until burst quota. Something about audit partners being stingy af I guess? I've never met an inspiring audit partner but plenty of inspiring lawyers, doctors, programmers, etc.

Originally Posted by Unregistered

Back then our documentations and regulations were much simpler so we actually had the time to learn business domain knowledge. A few of my batchmates even used it to help start a business in the industry they audited.

But it's not possible anymore these days due to the workload. When I hear my niece telling me about what auditors have todo these days, I feel that there is no way auditors have the time to learn anything useful these days, like you guys even have to work on engagements while doing audit training. I've even been asking around to help her leave but she will need to start from fresh grad level, in that case what is even the point of joining audit in the first place? You are even forbidden from opening bank accounts and buying stocks of companies you don't even work on.

Honestly the Big 4 in Singapore should just change their name to Poh Wan Cheng Pte Ltd and Kok Phua Mun Goh Pte Ltd since they seem to be no different from Chinaman firms.

pls dont insult chinaman firms. they dont make staff pay 300+ for company trip to batam. it's free ok and some even go to seoul and beijing