Big 4 Firms

Blue Ferret SG

Well ... this is the benefits offered by one of the big 4

OT can be translated into OT leave, subject to a cap
Convocation, marriage, child care, maternatity, paternity & Exam leave
28 days of sick leave
Medical benefits (don need to pay for consultation at designated clinics)
Meal and transport reimbursements
Car / computer interest free loans

Plus discounts at selected stores

play_n_play SG

still US/Europe Co. but singaporean management style...

Blue Ferret SG

Some updates on the Big 4

The big 4 have raised their starting salaries for fresh graduates by 200. Starting pay is now 2200. PLUS 10% increment for good honours. So 2nd upper class Accountancy grads can earn $2420.

The big 4 will take in any graduate regardless of your degree classification. Just pass degree can liao.

VivId CrItiQuE SG

now tts interesting..

marcuz1977 SG

A good effort but still not quite enough.

The banks are offering $2,500 to average degree grads. If you have good honors, can be $3,000 ++. That you haven't count in the shorter working hours and more months of bonus.

Another thing about the 10% increment for good honors fresh grads. That is going to create another problem. The difference in salary between them and the "average degree" second year assistant will only be $180 (assuming the second year gets $2400+200). The average second year might feel very let down by the small difference in salary and may not be very willing to teach the good degree fresh grad much. They will be thinking: since the good honors is so smart, they can learn on their own.

This is further compounded by the fact that the average second year has been drawing $2400 since July and now suddenly a noob good honors first year is drawing $2420 with zero experience!

I hope they are paying the average second years a bit more than $200. Else people will still leave.

spencer99 SG

the first year increment at the end of one year is $500 minimum.... the starting pay is low. by pay go up very fast...

my then gf/now wife graduate one year AFTER me... I am an engineer and she from accountancy and went to big 4.

within 3-4 years her pay more then me. even though her starting pay is much lower then my pay when she graduate.

i recall that she got like $600 increment and was "disappointed".

Blue Ferret SG

There is a 10% pay rise across the board for big 4 staff.

The following is quoted from Redoctober83 from HWZ
With the 10% pay rise, the salary structure of a typical big 4 auditor looks as follows

Assistant -lst year = $2200 (One of the big 4 is paying another 10% more for 2nd upper & above ie $2420)

Assistant - 2nd year = $2750

Senior Associate - lst year = $3630

Senior Associate -2nd year = $4290

Asst Manager = $ 4950

Manager = $6600

marcuz1977 SG

Originally posted by Blue Ferret:
There is a 10% pay rise across the board for big 4 staff.

[b]The following is quoted from Redoctober83 from HWZ
With the 10% pay rise, the salary structure of a typical big 4 auditor looks as follows

Assistant -lst year = $2200 (One of the big 4 is paying another 10% more for 2nd upper & above ie $2420)

Assistant - 2nd year = $2750

Senior Associate - lst year = $3630

Senior Associate -2nd year = $4290

Asst Manager = $ 4950

Manager = $6600 [/b]

Ah thats a clearer and better picture.

Which is the unqiue big 4 that pays 2nd upper and above more?

EY? PWC?

Also $2200 and even 2420 isn't anything great.

A second upper and 1st class can get much higher in banks.

Blue Ferret SG

Agree that 2420 is nothing great. But at least the big 4 kind of guarantee yearly promotions up to the Asst Manager level. which means u will definetly get 5k after 4 years (thats if , u don quit lah)

Promotion in banks and other MNCs are more competitive. in banks, u start as a Senior Officer, but how many actually make the promotion to Asst VP? which means that u may enjoy a higher starting salary in the beg, but will lose out to big 4 auditors after a couple of years

lktlkygr SG

What abt the starting salary of diploma n advanced diploma students?

marcuz1977 SG

Which means a non-competitve grad should join Big 4? based on this line of thought, the 2nd uppper should still join bank cos she has a higher chances of "winning" the competition since by default, she is already very competitive (as evidenced by her higher grades). Thus in the end, Big 4 still end up with few 2nd upper.

Hope the increase in salary by Big 4 will drive up the salary for the banks and commercial accountant's pay as well.

marcuz1977 SG

From Hardwarezone forum:

Nice numbers. Always helpful when numbers are made available for comparison.

Just to provide an added perspective, here's the starting salaries from some industries that a good account grad (2.1 at least, preferrably 1) have a realistic shot at:

Consultancy (McKinsey and BCG): entry salary is between that of Asst Manager and Manager
Banking (local and smaller foreign banks as MA/MT/analysts): Assistant 2nd year to 1st year senior associate
Investment banking (bulge bracket, as analysts): depending on firms and functions, it could range from 1st year Senior Associate to Manager

These numbers are based on Singapore hires from friends I know, and my own starting

by Cocopong

---------------------

The entrance salary from what i gather is similar to Coco's.

That means Big 4 will not be getting much 2nd upper anytime soon.

Blue Ferret SG

Yupz. Working in a big 4 kinds of shelter u from the competitivness of the outside job market (as u don need to pia so hard for that pay rise / promotion).

But have to remember that banks normally recruit 2nd upper honor grads, so even u have 2nd upper, u are just meeting the requirement, and thus won give u the advantage in terms of promotion. Visualize urself fighting it out with people of similar calibre as you. In banks, u really need to perform to get promoted, unlike the big 4.

Banks = Promotion if ur performance is "top of your batch"
Big 4 = Promotion if ur performance is not "bottom of your batch"

Get the difference? hee hee

marcuz1977 SG

"Big 4 = Promotion if ur performance is not "bottom of your batch""

Actually in Big 4, one must also be wary. I heard of stories where people are recruited before the peak and when the peak is nearly over, they are asked to leave (aka before the 6 months probation period is up). Then the funny thing is when it gets busy again and the firm become desperate, the firm called up all those who were rejected in the first place at the end of the first peak.

That happened in a certain big 4 before.

arcturuz SG

U work big 4 = no life. Everyday work minimum up to 8-9pm during off peak. Peak period which can range from Dec to Feb and to suay kias, whole year, u are expected to work till 2-3am everyday and weekends. For that amount of money? no thanks, I rather get my health and social life back.

Blue Ferret SG

Haha thats for Auditors mah...tax agents at the big 4 work till 7pm on average. during peak latest 10pm once a blue moon.

If u want a big 4, there are other vocations (tax, advisory) for you.

« Previous Page