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Old 22-11-2017, 10:15 PM
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Default Internal auditor

Just wondering how much salary should i ask for internal auditor position in a MMC , I have 3 years external experience in big four , currently S2.
Not sure what is the market rate for internal auditor


Hope someone can help to answer
Thank you in advance

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Old 23-11-2017, 12:03 PM
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Assuming you mean a commercial MNC (and not bank MNC), a typical adjustment would be 15% - 20%. It depends if you have just been promoted since your promotion period was July - Sep (depending on your firm) so some firms may not be willing to add another 20% on top of your recent progression increment. Look at other benefits like work-life balance, new skills set on top of your monetary benefits.

All the best to you leaving before your peak starts again.



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Old 23-11-2017, 05:06 PM
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Is not having Big 4 experience a career suicide for Internal Auditors? A lot of job listings for IA positions seem to state that Big 4 exp is compulsory.

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Old 23-11-2017, 05:42 PM
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Is not having Big 4 experience a career suicide for Internal Auditors? A lot of job listings for IA positions seem to state that Big 4 exp is compulsory.
Not sure what you meant as "career suicide" but i assume you mean there will be little to no progression? Assuming you are already an IA, you should know the job itself has more to do with your familiarity with the internal process, operations. If you are someone who wants to be an AI, there are many other paths. I've met someone who was an corporate RM and transferred to be an IA within the bank so lateral move into IA function is very common.

Firms like to have 'ready' employees over those who require OJT so putting that requirement helps to weed out candidates that require more efforts to train up (even if they could be more talented, hardworking, etc). This is especially true for jobs/positions where you are just a cog in the wheel.
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Old 24-11-2017, 04:18 PM
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Quote:
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Not sure what you meant as "career suicide" but i assume you mean there will be little to no progression? Assuming you are already an IA, you should know the job itself has more to do with your familiarity with the internal process, operations. If you are someone who wants to be an AI, there are many other paths. I've met someone who was an corporate RM and transferred to be an IA within the bank so lateral move into IA function is very common.

Firms like to have 'ready' employees over those who require OJT so putting that requirement helps to weed out candidates that require more efforts to train up (even if they could be more talented, hardworking, etc). This is especially true for jobs/positions where you are just a cog in the wheel.
Hi, I apologize for not being specific enough. My concern is that I'm hearing a lot about Big 4 being a necessity if you want to jump from external audit to commercial (internal audit). It seems like a lot of people in mid-sized firms who intend to have a career in internal audit also want to jump to Big 4 no matter what. Have you heard about any success stories about people jumping from small/medium audit firm straight to internal audit?
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Old 24-11-2017, 06:52 PM
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Hi, I apologize for not being specific enough. My concern is that I'm hearing a lot about Big 4 being a necessity if you want to jump from external audit to commercial (internal audit). It seems like a lot of people in mid-sized firms who intend to have a career in internal audit also want to jump to Big 4 no matter what. Have you heard about any success stories about people jumping from small/medium audit firm straight to internal audit?
There will always be some success stories here and there. However they are the minority, so the question you need to ask yourself is do you have what it takes to be the minority?
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Old 27-11-2017, 02:25 PM
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There will always be some success stories here and there. However they are the minority, so the question you need to ask yourself is do you have what it takes to be the minority?
I agree with this. Don't pin so much hope on being the minority but rather work towards the kind of company/sector that you want to join and consider internal transfers.

I have a friend that was working as an ops manager and he managed to switch to head its IA team when the manager left.

I believe you don't hear alot of IA hires because most would hire internally unless they are a highly regulated industry (banks, O&G) so they tend to hire external candidates with the regulatory knowledge.
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