Q: Big4 - Yearly salary increment

[ricardo]

Hi everyone.

I have a question about big 4. I understand that the pay increment is alot when you get promoted.

1) My question is, what if you are not promoted. Are there still salary increment?

2) If there are salary increment, does it apply to all the following position or only selected position?
- Associate 1 and 2
- Senior Associate 1 and 2
- assistant manager
- manager
- senior manager

Regards.

Originally Posted by ricardo

Hi everyone.

I have a question about big 4. I understand that the pay increment is alot when you get promoted.

1) My question is, what if you are not promoted. Are there still salary increment?

2) If there are salary increment, does it apply to all the following position or only selected position?
- Associate 1 and 2
- Senior Associate 1 and 2
- assistant manager
- manager
- senior manager

Regards.

Big 4 (Deloitte Touche Tohmatsu, PricewaterhouseCoopers, Ernst & Young, KPMG). Accountant.


No distinction according to Class of Honors known yet.
Y1 associate: $2,700
Y2 associate: $3,100
Y1 Senior associate: $4,000
Y2 Senior associate: $4,500
Assistant Manager: $5,100

[ricardo]

Originally Posted by Unregistered

Big 4 (Deloitte Touche Tohmatsu, PricewaterhouseCoopers, Ernst & Young, KPMG). Accountant.


No distinction according to Class of Honors known yet.
Y1 associate: $2,700
Y2 associate: $3,100
Y1 Senior associate: $4,000
Y2 Senior associate: $4,500
Assistant Manager: $5,100

Thanks. How about increment? I am more concern about pay increment when there is no promotion.

Originally Posted by ricardo

Thanks. How about increment? I am more concern about pay increment when there is no promotion.

For the first 5-6 years up to A.Manager level, the promotions are the increment. For 90% of ppl the move from Associate to A.Manager is almost guaranteed as long as you don't kena big screw up. My friend used to work HR in one of the Big4, she say internally they don't even classify these as promotions.

If you fail to get these "fake" promotions at the time when all your peers are getting, then I suggest you just get out while you can. No point asking what is the increment because even if have, you are more or less considered condem case liao.

Originally Posted by Unregistered

For the first 5-6 years up to A.Manager level, the promotions are the increment. For 90% of ppl the move from Associate to A.Manager is almost guaranteed as long as you don't kena big screw up. My friend used to work HR in one of the Big4, she say internally they don't even classify these as promotions.

If you fail to get these "fake" promotions at the time when all your peers are getting, then I suggest you just get out while you can. No point asking what is the increment because even if have, you are more or less considered condem case liao.

Thanks for sharing, that is interesting to know. If somehow one gets to senior manager level (in KPMG for instance) and doesn't get promoted for the next 3-5yrs, does he still have increment ? or his pay is going to be constant at say 8.5k, effectively meaning he is getting pay cut year after year, beaten by inflation ?

Originally Posted by Unregistered

Thanks for sharing, that is interesting to know. If somehow one gets to senior manager level (in KPMG for instance) and doesn't get promoted for the next 3-5yrs, does he still have increment ? or his pay is going to be constant at say 8.5k, effectively meaning he is getting pay cut year after year, beaten by inflation ?

Once you reach Manager level the promotion will slow down because these will be real promotions. There will be annual increment (assume no recession) but the rate of increase will slow down compared to earlier on because people in their mid 30s are far less mobile to jump ship.

My understanding is most people will diao at Manager or SM level for many years and never reach the junior partner level because beyond that got heavy P&L responsibilities and most people dun have business development skill.

[ricardo]

Thanks to both the question and reply from both of you. No nick for me to refer to. ha.

That more or less sum up my question. So generally.

1) From A1 to AM is usually a norm if no screw up. So promotion = increment. No need to differentiate between promotion and increment

2) From AM onwards, there is still yearly increment but the amount is not as great compared to A1 to AM.

3) To get a substantial increment, need to get promotion from AM onwards.

Once again, thanks for the information.

Originally Posted by Unregistered

Once you reach Manager level the promotion will slow down because these will be real promotions. There will be annual increment (assume no recession) but the rate of increase will slow down compared to earlier on because people in their mid 30s are far less mobile to jump ship.

My understanding is most people will diao at Manager or SM level for many years and never reach the junior partner level because beyond that got heavy P&L responsibilities and most people dun have business development skill.

Typically for a 1st tier accounting firm like KPMG, what's the pay range like when you hit Senior Manager?

I am guessing around 8k-9k ?

10K+ would be right.

how about the pay for first year manager? how many years does it take typically to reach senior manager?