Q: Big4 - Yearly salary increment

Originally Posted by Unregistered

I think the biggest problem in the accounting industry is because of the low pay.

It is mandatory for companies to get audited. It is a process where all the audit firms will fight for the clients, hence offer lower pricing for their clients. With low pricing, it means the audit firms have to use lower manpower to sustain their profit margins.

All the audit firms will keep fighting to squeeze their manpower to ensure more attractive pricing for their clients.

However, in consulting it is different. Consulting can pay more because of the idea and solution they sell. It is more like a sales job. People are willing to pay for a solution rather than a process of complying with the regulatory requirement.

Accounting grads are not usually hired as an accountant immediately. They have no relevant experience in such commercial roles. Therefore, most of them went into audit.

This is a sunset industry because there is no way that audit firms will raise the salary. Else, the audit fee will be higher, and the client might just switch audit firms.

The only way is to have a minimum wage requirement for a per hour of work basis. I dont think the government will impose such regulation.

So, some accounting grads just move to other areas out of accounting as other area pays well. U seldom see NUS accounting students in B4, because they find greener places. They are the AAA/C people. They are smart.

It boils down to the meritocracy again. You have to work harder in sch to get out of the accounting industry. People hire accounting grads in other fields too. Just how much effort u willing to put in.

NUS Business (Accountancy) and SMU Accountancy graduates usually do not join the Big 4 firms. Instead, most associates come from NTU, SIT, SUSS, UOL, and other foreign uni. Those who had better options back then but chose accounting can only find ways to get out of this situation.

Originally Posted by Unregistered

Lol how will accounting ever be prestigious when it continues to pay less than half of what the actual prestigious courses pay?

Look at computer sci. It used to be a degree for chao sng bbfa nerds. Those kind who became programmers stuck working in a back room and shunned by relatives during CNY while their cousins who studied acc and went B4 were the family's pride and joy. Now role reversal liao all those cs grads act machiam like Wolf of Wall Street bankers while B4 become shunned low class

All these measures are just putting lipstick on a pig. End of the day still a pig.

ISCA calls CA SG prestigious by giving the bcc undergrads more exemptions.
And there’s somehow a stigma associated with being a b4 auditor

Originally Posted by Unregistered

Offered to 5 local unis only…

That should be the way. Who the f.. wanna take local accountantcy with no advantages compared to those cha pa lang degree. They finally grow some brain.

Originally Posted by Unregistered

That should be the way. Who the f.. wanna take local accountantcy with no advantages compared to those cha pa lang degree. They finally grow some brain.

Usually they are also acca holders. ISCA signing MRA/RMA with ACCA
So the advantage is also not so great

Originally Posted by Unregistered

Usually they are also acca holders. ISCA signing MRA/RMA with ACCA
So the advantage is also not so great

Acca is at best advance diploma. Its not consider a degree.

Originally Posted by Unregistered

That should be the way. Who the f.. wanna take local accountantcy with no advantages compared to those cha pa lang degree. They finally grow some brain.

But they just simply apply it to current and future undergrads. The past grads which they had destroyed they did not "compensate" for it.

Originally Posted by Unregistered

But they just simply apply it to current and future undergrads. The past grads which they had destroyed they did not "compensate" for it.

How to compensate? What you suggest?

Originally Posted by Unregistered

How to compensate? What you suggest?

Should qualify for equal exemptions atleast. Duh.

Originally Posted by Unregistered

Should qualify for equal exemptions atleast. Duh.

But that won’t be fair cause you didn’t take the same modules and content as those batches. That’s why exemptions only apply if you take a certain module after a certain year.

The article also says the professional programme modules which are not available for exemptions will be weaved into their accountancy studies.

You didn’t learn the same things as them.

Originally Posted by Unregistered

But that won’t be fair cause you didn’t take the same modules and content as those batches. That’s why exemptions only apply if you take a certain module after a certain year.

The article also says the professional programme modules which are not available for exemptions will be weaved into their accountancy studies.

You didn’t learn the same things as them.

So all those years of CPA (sg) and transitional arrangement converted to CA sg learned the same thing as them?