Q: Big4 - Yearly salary increment

Originally Posted by Unregistered

I was one of those AAA students who applied for Accounting in 2015 but only joined in 2017 due to NS. I blame it on my lack of awareness and motivation during NS that I was unaware that Accounting became a sh1+ course over that short period. Ended up joining audit following the typical route that most ppl take.

Spent 3 years in EY and got my CA. Throughout the 3 years I was very unmotivated due to the low pay and bad wlb. However, I learnt a few impt workplace skills that helped me to survive the 3 years and even got 1 year of high performer (lol). The most impt one I learnt from my ex-senior is “Manage upwards”. Set your expectations with your bosses and set up boundaries. I know it is easier said than done with all those b4std managers in EY but you need to take a step away from work and reconsider your life priorities. This is just a job, nothing worth sacrificing your health for!

On the issue of msians working in audit in SG, I feel that it is a normal business decision needed for audit firms to even operate. However, they do get the short end of the stick when moving on to other non-audit roles. So as local grads in the accounting profession, make use of the advantage you have and leave when the time is right. We may have made a bad decision studying accounting but we can still make better decisions going forward.

Okay not even sure what I wanted to say anymore but 加油把公司干倒闭！

I noticed those malaysian working as audit manager are always very afraid of not being meeting deadlines?

Is it because they have other agenda like wanting the employer to help them apply PR status in Singapore?

Also they seem like priority the audit job above the welfare of the staff?

Originally Posted by Unregistered

I noticed those malaysian working as audit manager are always very afraid of not being meeting deadlines?

Is it because they have other agenda like wanting the employer to help them apply PR status in Singapore?

Also they seem like priority the audit job above the welfare of the staff?

You must be local without many PR friends.

You don’t need to rely on the employer beyond proof of employment in your PR application.

Your seniors and managers have NO LINK to your PR application.

Originally Posted by Unregistered

You must be local without many PR friends.

You don’t need to rely on the employer beyond proof of employment in your PR application.

Your seniors and managers have NO LINK to your PR application.

Oh

No need ask employer is it?

Originally Posted by Unregistered

Oh

No need ask employer is it?

You don't even need employer's letter. Even payslip is enough.ICA knows there's those scumbag SMEs who would fire anyone applying for a PR.

Originally Posted by Unregistered

Oh

No need ask employer is it?

Ya No need.

Back in my day… 90% of accountancy graduates started out in big 4… 90% gave up halfway and went to industry as APAR / Fund / Financial Accountants or some sorts but the remaining 10% who were mentally strong to persevere became partners. Most of the partners I know are currently making serious money here (average 400-600k all in per annum). Those who left earlier only making around 200k per annum. Difference in pay is 2-3x more…

Stay woke salaryman, be a business owner rather than an employee…

Originally Posted by Unregistered

Back in my day… 90% of accountancy graduates started out in big 4… 90% gave up halfway and went to industry as APAR / Fund / Financial Accountants or some sorts but the remaining 10% who were mentally strong to persevere became partners. Most of the partners I know are currently making serious money here (average 400-600k all in per annum). Those who left earlier only making around 200k per annum. Difference in pay is 2-3x more…

Stay woke salaryman, be a business owner rather than an employee…

Nah.. it’s much less than 10%.

Someone in my training group did the maths.

Every year got 100+ fresh associates start as A1

Then around S2 most people leave the firm, and new mid career joiners come in from Malaysia or elsewhere. Let’s estimate 50. So it becomes 150.

Then we only saw 1 newly promoted partner in last 3 years.

By this logic, the chance is maybe 1 in 450 to make it.

Originally Posted by Unregistered

Back in my day… 90% of accountancy graduates started out in big 4… 90% gave up halfway and went to industry as APAR / Fund / Financial Accountants or some sorts but the remaining 10% who were mentally strong to persevere became partners. Most of the partners I know are currently making serious money here (average 400-600k all in per annum). Those who left earlier only making around 200k per annum. Difference in pay is 2-3x more…

Stay woke salaryman, be a business owner rather than an employee…

It's less than 1%. Some batches have zero people left after 10 years.

Anyway did you know SME audit firm partners can earn just as much?

CFOs are earning 400k-600k in big companies too. It's just that it's spread out across basic pay, bonus, incentives, and all that.

With the skills you have, you definitely have more options than just B4 audit partner.

Anyone in your 40s thought you can shake leg when you reach high level position?

But end up no young people in 20s want to join you.

End up you have to do more work yourself?

I was born in Malaysia and have been working in Singapore for many years.

I have just obtained my PA license.

The question now is whether I should be leveraged by other audit firm to sign off on those high-risk cases as signing partner?

Or if I start my own audit firm and leverage the younger people?