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| Income and Jobs Discuss jobs, career options and of course salaries |
Topic Review (Newest First)
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| Today 10:33 AM | ||
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I think the biggest problem in the accounting industry is because of the low pay. It is mandatory for companies to get audited. It is a process where all the audit firms will fight for the clients, hence offer lower pricing for their clients. With low pricing, it means the audit firms have to use lower manpower to sustain their profit margins. All the audit firms will keep fighting to squeeze their manpower to ensure more attractive pricing for their clients. However, in consulting it is different. Consulting can pay more because of the idea and solution they sell. It is more like a sales job. People are willing to pay for a solution rather than a process of complying with the regulatory requirement. Accounting grads are not usually hired as an accountant immediately. They have no relevant experience in such commercial roles. Therefore, most of them went into audit. This is a sunset industry because there is no way that audit firms will raise the salary. Else, the audit fee will be higher, and the client might just switch audit firms. The only way is to have a minimum wage requirement for a per hour of work basis. I dont think the government will impose such regulation. So, some accounting grads just move to other areas out of accounting as other area pays well. U seldom see NUS accounting students in B4, because they find greener places. They are the AAA/C people. They are smart. It boils down to the meritocracy again. You have to work harder in sch to get out of the accounting industry. People hire accounting grads in other fields too. Just how much effort u willing to put in. |
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| Today 10:32 AM | ||
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| Today 10:19 AM | ||
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| Today 10:05 AM | ||
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Look at computer sci. It used to be a degree for chao sng bbfa nerds. Those kind who became programmers stuck working in a back room and shunned by relatives during CNY while their cousins who studied acc and went B4 were the family's pride and joy. Now role reversal liao all those cs grads act machiam like Wolf of Wall Street bankers while B4 become shunned low class All these measures are just putting lipstick on a pig. End of the day still a pig. |
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| Today 09:56 AM | ||
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| Today 09:47 AM | ||
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13 YOE where got time to come this forum on a Saturday? |
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| Today 09:15 AM | ||
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5 days pre admission course + 3 years in any small accounting firm settled. |
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| Today 09:03 AM | ||
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So... Cpa aust & acca (soon?) = mra Local undergrad = 2exemptions + accelerated pathway Local Grad from 2022 = 2 exemptions Local Grad before 2022 = die fighting all 5 papers or at most exempted TX if lucky. Basically grad before 2022 is seen as mediocre compared to everyone else but the exact reason why scaq failed. Yet nothing was done to help these grad make things better. |
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| Today 08:53 AM | ||
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It will still be the same, just more possible to get the ca sg but stuck 3 yr at b4? |
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| Today 08:50 AM | ||
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Long hours and lower starting pay. It seems like this measure will only provide more resources for the acc industry. Nothing is done to improve working life or pay of the fresh graduates? Cost of education, cost of ISCA membership, but receive only $3.6k upon graduation ? I doubt that pay will increase, esp with the mass hiring of ft and the outsourcing of work. Just as raising pay for accountants should be a last resort, most people would choose accounting as their last resort. |
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