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 Manager salary in Audit Firms

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TStannyboy91
post Dec 12 2020, 03:55 PM

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QUOTE(gogocan @ Dec 12 2020, 03:20 PM)
tax manager in some big 4 starting at RM 9k...a bit low but for 30+ age not bad la. But not many can tahan the workload.. that is why the turnover is quite high in audit firm.

workwise once attain the necessary experience CV also dah cantik.. better jump to GLC MNC to get more with lower workload.
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But I heard some Assistant Managers in firm their salary range around 5-6k?
TStannyboy91
post Dec 12 2020, 03:57 PM

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QUOTE(ceo684 @ Dec 12 2020, 03:09 PM)
Senior executive (senior con) already getting 5k
Manager also 5k?  Doesn't really make sense
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Do senior consultant really get that type of salary? Cuz imagining the freshie (big 4) say getting 3k as their base then their increment is 300 per year? Or more?
9m2w
post Dec 12 2020, 04:00 PM

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QUOTE(tannyboy91 @ Dec 12 2020, 03:54 PM)
So to those accounting grads out there, they won’t be missing out if they don’t join audit as their stepping stone career path?
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My wife's in a big 4 since she's a fresh graduate and she paid her dues in audit for a couple of years first before moving to Tax Advisory. Never asked specifics but she does say it gave a her a solid fundamental for her later career.
drug5
post Dec 12 2020, 04:04 PM

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Audit manager role also need to OT non stop?
SUSceo684
post Dec 12 2020, 04:05 PM

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QUOTE(tannyboy91 @ Dec 12 2020, 03:57 PM)
Do senior consultant really get that type of salary? Cuz imagining the freshie (big 4) say getting 3k as their base then their increment is 300 per year? Or more?
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3k starting is pretty much standard
Increment it depends but double digit % is not unheard of.

I did not dedicate my soul to audit lah, as I came in as experienced hire in advisory - but I think it also depends on which career tier as well as how many steps are in the "staircase" of the firm's career levels.

This post has been edited by ceo684: Dec 12 2020, 04:06 PM
SUSceo684
post Dec 12 2020, 04:07 PM

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QUOTE(tannyboy91 @ Dec 12 2020, 03:55 PM)
But I heard some Assistant Managers in firm their salary range around 5-6k?
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Manager pay also depends on the line of work and size of firm.
Fast food outlet manager may earn similar to a big 4 freshie.

I've also been in startups where the marketing manager only got 5k.
statikinetic
post Dec 12 2020, 04:09 PM

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QUOTE(9m2w @ Dec 12 2020, 04:00 PM)
My wife's in a big 4 since she's a fresh graduate and she paid her dues in audit for a couple of years first before moving to Tax Advisory. Never asked specifics but she does say it gave a her a solid fundamental for her later career.
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Less and less can make the grade in establishing the fundamentals nowadays.
Most looking for a quick ride to the penthouse. Can't blame them though.
kelvinfixx
post Dec 12 2020, 04:10 PM

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WaterBuffalo
post Dec 12 2020, 04:14 PM

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Starting 8k to highest 12k. 12k would be highest band manager / borderline senior manager.

Also FYI big 4 manager salary differs between audit, consulting, tax practice.
SUSagewisdom
post Dec 12 2020, 04:15 PM

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QUOTE(tannyboy91 @ Dec 12 2020, 03:54 PM)
So to those accounting grads out there, they won’t be missing out if they don’t join audit as their stepping stone career path?
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Audit is a good starting ground. It's just that you shouldn't stay there longer than 5 years unless you really enjoy it and plan to stick there for good.
SUSceo684
post Dec 12 2020, 04:17 PM

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QUOTE(tannyboy91 @ Dec 12 2020, 03:54 PM)
So to those accounting grads out there, they won’t be missing out if they don’t join audit as their stepping stone career path?
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If you know the business process flow well enough then you will have had a taste of 'street smarts' to in commercial firm in accounts role (since you already qualified accountant by virtue of professional cert/ACCA/degree etc).

Audit experience to me, no offense, is a compressed crash course in learning the business process since you need to trace all the money is following the correct practices, i.e. no fudging accounts. Which is in effect you get to know what goes where but not necessarily learn how a business is run in detail (w.r.t. marketing/product management/credit control). Essentially, you can trace and question where the money is coming from/flowing out/and is it recorded correctly according to acctg standards but sometimes a little bit of common sense needed,

I got asked by auditor (one of the big 4) before because they noticed there was a spike in ancillary side dish product sales.
The big picture - when a new MAIN product is launched and when number of total customers go up (because of that new MAIN product success),
then the ancillary side dish product also recorded a spike in sales (which should be attributed to the growth in customer base accordingly) whistling.gif
SUSagewisdom
post Dec 12 2020, 04:17 PM

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QUOTE(drug5 @ Dec 12 2020, 04:04 PM)
Audit manager role also need to OT non stop?
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Not non stop, but maybe for 1/2 year since most clients year end at 31st Dec. Also depends on the seniority. Those more senior may get better clients, so not so bad. Some shitty clients, OT is because the client's messy accounts and giving late information. And also lack of skilled audit seniors to do a good job.
Screen
post Dec 12 2020, 04:19 PM

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Not high as before, especially after Covid.

Basically we are having more stress (bad results from clients due to Covid, more risks), less pay, and nothing motivating enough to look forward to (some firms freeze promotion or just terang2 say no bonus).
TStannyboy91
post Dec 12 2020, 04:28 PM

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QUOTE(agewisdom @ Dec 12 2020, 03:30 PM)
Audit workload doesn't let up and you're not really learning valuable skills from a market standpoint. Once you reach manager/senior manager, the more important skills are relationships. Whether you got business contacts to get more clients and increase audit fees. That'll help you go up to partner.

Technical skills usually Big 4 got plenty of people to cover, from managers to technical partners. It's relationships and marketing skills that'll get you ahead to partnership level.

Unfortunately, this means if you're can only get ahead if you're from the upper class tier [real upper class] or if you manage to 'jilat' enough corporate clientele.

To get to higher levels like senior manager or partnership, you have to be able to bring in more profits than what you're getting, else why they bother to make you a partner. If you've the right contacts and can bring in big clients, you DON'T need much technical skills. All your downliners can mostly handle and you just 'sign'.

If you don't make the jump, don't bother staying in audit firm. For that sort of stress, jump to investment bank better. Higher salary, higher bonus, same shit stress levels. At least IB skills might be more useful later when switching. Audit - stay max 5 years.
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Not easy to get into IB, unless you graduated from those Ivy League unis overseas or you scored really good like first class honours
TStannyboy91
post Dec 12 2020, 04:29 PM

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QUOTE(agewisdom @ Dec 12 2020, 04:17 PM)
Not non stop, but maybe for 1/2 year since most clients year end at 31st Dec. Also depends on the seniority. Those more senior may get better clients, so not so bad. Some shitty clients, OT is because the client's messy accounts and giving late information. And also lack of skilled audit seniors to do a good job.
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Depends on luck, when started out in audit firm. If you follow the right senior or manager you will climb smoothly despite the work load if the opposite it will be hell for you. Must know how to jilat or play politics by mixing with the right people
TStannyboy91
post Dec 12 2020, 04:33 PM

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QUOTE(ceo684 @ Dec 12 2020, 04:17 PM)
If you know the business process flow well enough then you will have had a taste of 'street smarts' to in commercial firm in accounts role (since you already qualified accountant by virtue of professional cert/ACCA/degree etc).

Audit experience to me, no offense, is a compressed crash course in learning the business process since you need to trace all the money is following the correct practices, i.e. no fudging accounts. Which is in effect you get to know what goes where but not necessarily learn how a business is run in detail (w.r.t. marketing/product management/credit control). Essentially, you can trace and question where the money is coming from/flowing out/and is it recorded correctly according to acctg standards but sometimes a little bit of common sense needed,

I got asked by auditor (one of the big 4) before because they noticed there was a spike in ancillary side dish product sales.
The big picture - when a new MAIN product is launched and when number of total customers go up (because of that new MAIN product success),
then the ancillary side dish product also recorded a spike in sales (which should be attributed to the growth in customer base accordingly)  whistling.gif
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Wow good illustration, may I know if you have started your career as an auditor before. You seem experience haha
SUSceo684
post Dec 12 2020, 04:48 PM

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QUOTE(tannyboy91 @ Dec 12 2020, 04:33 PM)
Wow good illustration, may I know if you have started your career as an auditor before. You seem experience haha
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I'm not a qualified auditor by any cert.
My only experience with accounting was the basic compulsory Accounting A (first year one sub) which business major people have to take in uni laugh.gif

My work experience is largely comprised of:
product management (L3 escalated operations/marketing admin support/formulating and executing business functional spec requirement end-to-end from planning to production launch)
product development (core services development/PMO buruk) - end-to-end PMO buruk i.e. PMO role without formal PRINCESS or PMP cert
consulting buruk (in house BPI/tool development/advisory whilst being in big 4 as senior con in Advisory division umbrella) - i.e. NOT dedicated as Consulting division for external folks

This post has been edited by ceo684: Dec 12 2020, 04:51 PM
ChaosXP
post Dec 12 2020, 04:50 PM

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QUOTE(hirano @ Dec 11 2020, 10:57 PM)
10000000000
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Zimbabwe punya audit firm
TStannyboy91
post Dec 12 2020, 05:06 PM

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QUOTE(ceo684 @ Dec 12 2020, 04:48 PM)
I'm not a qualified auditor by any cert.
My only experience with accounting was the basic compulsory Accounting A (first year one sub) which business major people have to take in uni laugh.gif

My work experience is largely comprised of:
product management (L3 escalated operations/marketing admin support/formulating and executing business functional spec requirement end-to-end from planning to production launch)
product development (core services development/PMO buruk) - end-to-end PMO buruk i.e. PMO role without formal PRINCESS or PMP cert
consulting buruk (in house BPI/tool development/advisory whilst being in big 4 as senior con in Advisory division umbrella) - i.e. NOT dedicated as Consulting division for external folks
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Sometimes I feel audit is not really value adding. It’s more of a compliance thing because regulation requires it to be there to provide assurance to stakeholders. Other than that, it’s not much of a value to organization compared to sales or marketing in a organization

SUSmoosekaka
post Dec 12 2020, 05:08 PM

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QUOTE(Noyoudontcare @ Dec 11 2020, 11:06 PM)
Pretty sure its sub 10k.,,saw a 30+ manager in one big 4 salary slip
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What!??i agree with metal fire. Keep skin. Lol

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