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 Working with Petronas?, Work environment, benefits and culture?

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jhchan29
post Sep 26 2012, 01:25 PM

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Hi guys. I am new to this forum. Nice to meet you guys. I am currently an Accounting and Finance student and attended Petronas' SI in Melbourne yesterday. Upon completion of my interview, I was immediately offered the Chartered Accountancy Programme and the HR VP immediately sat down with me to talk about the programme structure and benefits as well as convincing me how good petronas is. It is a wonderful opportunity but I am at a crossroads here. In the programme I would have to join a big 4 for 3-4 years and gain my CA. After which I will be absorbed back into Petronas for 6-8 years. I would like to know more about the career progression and prospects for a CA rejoining Petronas. Also what would be the remuneration package for someone rejoining?

I am also currently sitting for my CFA Level One exams in Dec. I have always wanted to join the banking industry and pursue and investment banking career. However, the offer from Petronas is most appealing to me because of the stature of the firm and the international exposure I can get. Also the fact that the ultra-competitive culture in CIMB turns me off as well. Besides from my interview yesterday as well as from some research, I have noticed that CAs are more highly sought than CFA holders in Malaysia, even in the banking industry. From all the seniors' experience here, I would like to ask whether the culture, career progression, benefits and salary at petronas would match A bank like CIMB or Maybank (both I have an interview coming).


Thank you in advance for your attention. smile.gif

This post has been edited by jhchan29: Sep 26 2012, 01:43 PM
jhchan29
post Sep 27 2012, 05:41 PM

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QUOTE(Dry Pillow @ Sep 26 2012, 10:26 PM)
I'm not a senior but I am in the programme too. The remuneration is 5.5k monthly upon joining Pet after 4 years in audit firm and with CA. Apparently not a big money but I'm betting for career progression after joining. But the 8 years bond now makes me having second thought whether it is a worthy path to take... Hmmm
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Well it is definitely a very attractive programme with lots of traveling and learning. I think from what the finance VP said to me, we can bet on career progression and it is the best path to become senior managers and execs in Petronas or its subsidiaries. She kept mentioning CFO position during my interview. Of course depending on performance in Pet. Lol. She also emphasized that the tier 1 option (joining big 4) is the better option. Still 8 years man... Which audit firm are you at? Also, anyone else who has experience completing the 4 years programme and rejoined Petronas? Please advise

This post has been edited by jhchan29: Sep 27 2012, 05:43 PM
jhchan29
post Sep 28 2012, 01:08 PM

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QUOTE(Dry Pillow @ Sep 27 2012, 09:00 PM)
I'm not sure whether the programme itself gives loads of travelling and learning unless you are referring to the nature of audit job we have to do for 4 years. Yes, having professional qualification can be good boost to career progress in many firms including Petronas - depending on performance as you said. She emphasised tier 1 because big 4 audit experience (where we get to see and learn the accounting anatomy of giant corporations in Malaysia) is precious for Petronas. As I said I am still going this path though I must admit the 8 years bond is the con of this path. I mean not many people these days want to stay in the same firm after 4-5 years. Not to mention the tough nature of audit job. On the bright side there is job security for 8 years after that tongue.gif
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Well being too mobile in between jobs is not a good thing either. It means we can only become average as joining another firm means starting from the bottom. My only reservation is the culture in petronas. And the career progression. I don't want too strong type of nepotism or bias ness when dealing with promotion matters. Btw nice gaming rig. Gonna get one after I get my first paycheck lol

This post has been edited by jhchan29: Sep 28 2012, 01:14 PM
jhchan29
post Sep 28 2012, 10:55 PM

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QUOTE(keii-kun @ Sep 28 2012, 09:29 PM)
those who are planning to go into the ACCA programme, i can share some info, from my friend who took it in 2004 under IT degree conversion in ACCA (after PETRONAS IT outsourced).

He joined completed ACCA and joined EY as auditor. After almost 4 years, he managed to get to senior exec in EY before being called back to PETRONAS, only to be offered E1 post (even with CA).Negotiate for E2 also cannot. He informed PET rep that he is not going to join if like that, and the rep mentioned about suing him in court. he left EY after that and join other co (which i would not name here). At the end, he had to pay back fees etc (did not have detail on this). Check the detail of the agreement before agreeing.

If you get into PET Group Internal Audit, then you'll be doing auditing the other PET subsidiaries. If you have worry about the bias, culture in petronas, think again. yes, some OPUs have different culture, mindset, culture but these kind of people is everywhere. From the big 4 into PETRONAS, you might get dissappointed if you stuck under a small OPU.

I had a friend joined PET from Maybank, he said culture / work environment Maybank > PET.
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Wow this has been really informative. Thanks a lot. Just one question if you don't mind. Why did your friend join PET from Maybank? Is it because of the long hours there at Maybank/equal pay to PET?

 

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