Q: Big4 - Yearly salary increment

Originally Posted by Unregistered

I have an offer from (4 letter word big4) which shows title as Associate Director (D2) - would anyone know what is meant by D2 - IS it some grading/ ranking - if yes, then what is the grading structure.

The salary offered is 12K including CPF, is it at par with industry standards of big4 in Singapore. The role is in consulting function possibly RC/MC

I need to respond on this offer, request your help in getting some insight

why don't you try asking the HR instead?

Originally Posted by Unregistered

why don't you try asking the HR instead?

Thanks for guidance, I will definitely reach out to HR but need some advice from people already in the big4 and having some knowledge on it. It will give us more clarity and make it more informative discussion with the HR

Originally Posted by Unregistered

Sorry but I'm not getting the logic here, hope experienced bros can help clarify. So meaning on the first year joining PWC is just 3k x 12 with nothing else? No bonus no aws?

I mean I'm a bit shocked that a Big 4 can offer such lousy terms that is even worse than SME starting pay. AFAIK even a SIM grad joining a small local firm can get 2.5k x 12 + aws + 1.5-2mths variable which actually end up higher than PWC annual.

I know the big 4 emphasize how their increment better, after few years better on the cv to look for other jobs etc. But honestly very shock that it can be so pathetic low at the start. If it's really that bad then I can understand now why so many of uni coursemate majoring in Finance are so desperate to join the banking side even if as back office admin support.

I wld like to clarify that I have not heard of any 3k x 12 offers. In a certain big 4 dept (as previously mentioned a few times in the last page) the first yr salary is 3.5k x 12. No aws, no bonus.

All other depts are 2.7k x 12 + bonus. Someone here mentioned 3k so maybe big 4 has adjusted their starting salary for 2015. For 2014 fresh grad pay was still 2.7k.

I also agree with some other comments here regarding big 4 in general. 90% of people who enter big 4 treat it as a stepping stone to get into mncs after 3-4 years of experience. only those truly crazy stay on past yr 5 to become managers and continue earning the lousy pay for the crazy hours. big 4 like to say they give good increments but even if 6k after 6 years is good, dont forget most people work 8 hour days while as a manager you will be working closer to 10, not to mention bringing work home or working over the wkends which is the norm during peak periods. once you factor in all the extra work you do, your hourly rate is probably no better than a jc temp staff after a-levels.

i used to be from big 4, left and never looked back.

Originally Posted by Unregistered

I wld like to clarify that I have not heard of any 3k x 12 offers. In a certain big 4 dept (as previously mentioned a few times in the last page) the first yr salary is 3.5k x 12. No aws, no bonus.

All other depts are 2.7k x 12 + bonus. Someone here mentioned 3k so maybe big 4 has adjusted their starting salary for 2015. For 2014 fresh grad pay was still 2.7k.

I also agree with some other comments here regarding big 4 in general. 90% of people who enter big 4 treat it as a stepping stone to get into mncs after 3-4 years of experience. only those truly crazy stay on past yr 5 to become managers and continue earning the lousy pay for the crazy hours. big 4 like to say they give good increments but even if 6k after 6 years is good, dont forget most people work 8 hour days while as a manager you will be working closer to 10, not to mention bringing work home or working over the wkends which is the norm during peak periods. once you factor in all the extra work you do, your hourly rate is probably no better than a jc temp staff after a-levels.

i used to be from big 4, left and never looked back.

The problem with big4 is unless u make it to partner level and get the generous profit sharing scheme, the bonuses are so pathetic that its just not worth all the crazy hours.

We are not even talking about comparing to big boys in rich industries like banking or oil/gas .... The typical big4 Manager / Director gets like 2-3 mths on average and maybe 5 mths for top performer without even AWS. It's just not worth working 70-90hr work week for this sort of package.

How difficult is it to get into big 4 management consulting?

What is the remuneration like?

Cheers

Originally Posted by Unregistered

How difficult is it to get into big 4 management consulting?

What is the remuneration like?

Cheers

Already shown above. Big 4 is way easier than the real consulting companies because they aren't real consultants.

Originally Posted by Unregistered

Already shown above. Big 4 is way easier than the real consulting companies because they aren't real consultants.

What do you mean they aren't real consultants? As in they are fake consultants? I would refrain from making such sweeping statements.

Both Deloitte Consulting and PwC Consulting are ranked in the top 6 consulting practices in terms of prestige according to Vault rankings (above the likes of L.E.K, Accenture and Oliver Wyman, mind). MBB dominates the market as strategy houses but by no means are the big 4 not "real consultants".

In terms of difficulty getting in, big 4 consulting practices have a more difficult interview process than the other functions (tax, audit). A couple of them require candidates to go through assessment centres. I wouldn't compare the interview process with the ones in the U.S. but I don't believe they are by any means 'easy' in any case.

Cheers

Originally Posted by Unregistered

Already shown above. Big 4 is way easier than the real consulting companies because they aren't real consultants.

u sound like downie bro

[QUOTE=Unregistered;63592]

Originally Posted by Unregistered

friendly warning, a 3 lettered big4 consulting may be a shithole right now, of course depends on which consulting dept you are going to.

salary progression:
a1 3500 with no bonus
a2 3500
sa1 4000
sa2 4500
am 5100
m1 5x00

as shown, high starting salary is just to entice you, without a bonus your annual salary is actually behind other consulting peers.

may I know why is it a shithole now? having trouble?

Originally Posted by Unregistered

What do you mean they aren't real consultants? As in they are fake consultants? I would refrain from making such sweeping statements.

Both Deloitte Consulting and PwC Consulting are ranked in the top 6 consulting practices in terms of prestige according to Vault rankings (above the likes of L.E.K, Accenture and Oliver Wyman, mind). MBB dominates the market as strategy houses but by no means are the big 4 not "real consultants".

In terms of difficulty getting in, big 4 consulting practices have a more difficult interview process than the other functions (tax, audit). A couple of them require candidates to go through assessment centres. I wouldn't compare the interview process with the ones in the U.S. but I don't believe they are by any means 'easy' in any case.

Cheers

While I agree that calling big 4 fake consultants is sweeping and going overboard, neither is hyping or over-seliing them any better.

Sure, go out into the job market & tell ppl a Deloitte or PWC consultant is more "prestigious" than Oliver Wyman and see how many ppl out there are gonna be impressed.

All these rankings will just show whatever they want depending on what methdology they use. Heck even the likes of SIA/Keppel/Singtel gets ranked top employer of choice in some surveys, but go out into the job market and see who really if get offered by investment banks, o&g majors, top IT firms etc will give up and join SIA/Keppel/Singtel

The fact that these Big 4 even get questioned and ppl need to jump in to "defend" already shows they are far from being prestigious. You make it sound as if PWC & Deloitte is just ranked slightly lower than MBB, that is an understatment of the year.

A typical MBB freshie is usually a dean's list type top student from a world renowned business school with an illustrious internship experience or gets involved in other activities like NGOs/foundations/activism etc. A typical Big 4 managment consultant freshie is more likely a local university 2nd upper student. The difference cannot be starker.