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  #1 (permalink)  
Old 28-09-2011, 11:09 AM
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Default Internal Auditor

Just wondering whats the market rate for a fresh grad working in an MNC as an internal auditor?

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Old 28-09-2011, 02:00 PM
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Default IA

Expect amount a little over an entry level big 4 auditor, so i reckon around 2.8k to 3.5k.

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Old 28-09-2011, 04:10 PM
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Quote:
Originally Posted by Unregistered View Post
Expect amount a little over an entry level big 4 auditor, so i reckon around 2.8k to 3.5k.
apparently i was offered only 2.5k. I was told by HR that the company offers fresh grad 2.5k as a start.

Am i severely short-changed?

i have done my medical but yet to sign the contract (will be down tmr though). Any advice? thanks


Last edited by villan1; 28-09-2011 at 04:14 PM.
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Old 28-09-2011, 05:16 PM
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Quote:
Originally Posted by villan1 View Post
apparently i was offered only 2.5k. I was told by HR that the company offers fresh grad 2.5k as a start.

Am i severely short-changed?

i have done my medical but yet to sign the contract (will be down tmr though). Any advice? thanks
Note that an internal auditor is very different from an external auditor despite sharing similar designation.

An internal auditor is essentially a process executive whose main job is to ensure that the company's policies and processes across all departments are adhered to. This is very different from an external auditor whose main focus is on checking the books.

2.5k is not high, but decent. Most companies will not differentiate fresh grad executives across different departments. You certainly should not use a big4 auditor as a benchmark, completely different roles.
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Old 28-09-2011, 05:32 PM
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Quote:
Originally Posted by madgoat View Post
Note that an internal auditor is very different from an external auditor despite sharing similar designation.

An internal auditor is essentially a process executive whose main job is to ensure that the company's policies and processes across all departments are adhered to. This is very different from an external auditor whose main focus is on checking the books.

2.5k is not high, but decent. Most companies will not differentiate fresh grad executives across different departments. You certainly should not use a big4 auditor as a benchmark, completely different roles.
yeah they dont differentiate fresh grad executives across different departments.

be it Finance dept, hr dept, marketing dept, they pay the same rate for freshies
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Old 28-09-2011, 05:42 PM
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yeah they dont differentiate fresh grad executives across different departments.

be it Finance dept, hr dept, marketing dept, they pay the same rate for freshies
Common practice.

One thing you should take into account is the reporting structure of your role. Many MNCs are moving into 2 tier matrix reporting for internal audit and if your company is headquartered in Europe / America, this could mean many late night or early morning telecon calls.
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Old 28-09-2011, 07:55 PM
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will a fresh grad be able to negotiate salary on the day of signing the contract?


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Old 29-09-2011, 10:06 AM
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anyone can help? thanks
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Old 29-09-2011, 10:57 AM
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anyone can help? thanks
Bad idea.

1) Frankly a fresh internal auditor is just another junior job, a company is unlikely to make exception if their policy for fresh grad is already 2500. In all honesty, internal audit isn't exactly a powerful or important department.

2)I assume you have verbally informed them that you will be coming down to sign contract. Doing a last minute stunt on the spot will piss off many people big time. They’ll have to engage various stakeholders and relook at internal equity, get approval etc. Even in the unlikely event you pull off, it sets you up for failure because you have offended quite a few people including your boss before you even start work.

Unless you are some hot potato (which I doubt seeing that you are considering joining a normal executive level job), I recommend you not try something like that. Either accept or reject the role upfront.


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Old 29-09-2011, 11:00 AM
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Quote:
Originally Posted by madgoat View Post
Bad idea.

1) Frankly a fresh internal auditor is just another junior job, a company is unlikely to make exception if their policy for fresh grad is already 2500. In all honesty, internal audit isn't exactly a powerful or important department.

2)I assume you have verbally informed them that you will be coming down to sign contract. Doing a last minute stunt on the spot will piss off many people big time. They’ll have to engage various stakeholders and relook at internal equity, get approval etc. Even in the unlikely event you pull off, it sets you up for failure because you have offended quite a few people including your boss before you even start work.

Unless you are some hot potato (which I doubt seeing that you are considering joining a normal executive level job), I recommend you not try something like that. Either accept or reject the role upfront.

Thanks for the advice.


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