Just wondering what is the salary range for managers in audit firms in Malaysia?

Those in Big 4 or mid tier firms feel free to comment

This post has been edited by tannyboy91: Dec 12 2020, 12:43 AM

10000000000

RM20k, no give tell them go fly kite and simpan kulit.

Wow

TS should trust this kakak. HR pipul.
Don't pray pray

Pretty sure its sub 10k.,,saw a 30+ manager in one big 4 salary slip

My ex-boss was Deloitte audit manager.. his last drawn salary was 7.8k.. he said audit manager salary range also quite big.. some only earn about 5k.. some earn 10k+..

pls dont waste your life auditing

But but this is many years ago or quite recent?

Wow that much?

Why?

He left the firm on 2017.. with the stagnant increment it should b more or less the same now.. or even lower due to pandemic idk lol.. cus i know UHY middle management salary are being cut.. not sure about big 4 tho

Audit salary and the workload really doesnt go hand in hand. However they get promoted easily compared to corporate

Senior executive (senior con) already getting 5k
Manager also 5k? Doesn't really make sense

small firm managers are not paid very high.

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.

Depend on you are the trouble maker or trouble solver to the client.

I was in the no.4 big4 as senior con before in the past 2 yrs

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.

This post has been edited by agewisdom: Dec 12 2020, 03:35 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?

But I heard some Assistant Managers in firm their salary range around 5-6k?

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?

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.

Audit manager role also need to OT non stop?

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

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.

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.

5k

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.

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.

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)

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.

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).

Not easy to get into IB, unless you graduated from those Ivy League unis overseas or you scored really good like first class honours

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

Wow good illustration, may I know if you have started your career as an auditor before. You seem experience haha

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

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

Zimbabwe punya audit firm

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

What!??i agree with metal fire. Keep skin. Lol

20k + sun set orange

This post has been edited by miromiro: Dec 12 2020, 05:08 PM

Really??

big 4?5-6k more like supervisor level only

According to k, becum youtuber straight RM155k/m.

Supervisor or assistant manager. Which is higher in terms of rank

my gf senior exec MNC also 7k wo.

she said AM at least 9k, manager at least 12k.

This year got bonus or not

MnC can pay well I think. Usually even those assistant managers or managers in big 4 will also join MnC as senior

This post has been edited by tannyboy91: Dec 12 2020, 05:37 PM

that's what my ex-boss said.. make sense to me because you can be a manager in audit within 3-5 years due to high turnover, especially true if you have just been promoted to manager.. and this is audit which typically pays lower as compared to consulting.. but then again the salary range is huge.. managers with more experience or managing bigger portfolio may earn over 10k..

All my accounting exe and above have minimum 2 years audit background. People with audit background are very procedural and very easy to train. I like people with audit background. For instance, they never leave question/problems I've asked unanswered,however long it may be for they to find a solution. They also very so
seldom use the words forget and don't know.

Nah, IB is perennially short of staff. The issue is you usually need an audit background or something equivalent so that they don't have to train you from scratch. And you'll need to actually keep on applying. Better yet if you've read up on prospectus, circulars, SC guidelines etc. Cos' most of the time, I don't think IB actually train you well. Depends on the immediate superior.

Thework hours are really long and the job is actually pretty boring and mind numbing for most people except for a select few. IB work is worst than audit. Imagine looking at the damn prospectus for the 100th time checking. In audit, maybe at worst, you look at the 10th draft and that's rare.

And having deadlines all the time... Most external audit deadlines are mostly internal, but IB a lot of deadlines are set by Bursa, SC ... so it's rush, huff and puff...

IB might be interesting but it's not everyone.

That's because most audit firms hire those with:

1. Professional qualification
Meaning, they actually learn basic things like double entry and other technical stuff. Degree holders depending on the uni sometimes focus too much on theory, like what's the purpose of financial reporting, theoretical stuff like opportunity cost in accounting etc.

2. Audit training
Basic excel skills and word training etc. already learned on audit. So your life is easier.

Bro audit firms pay shit ton lesser than MNCs la haha

This is how auditors jump out and occasionally humble brag to their friends on their 50% increase in salaries and shit

To keep it simple, client not performing = they dont want to pay as much as before = maintain fees or request to cut fees or drop to lower tier firm = less income for firms = less income for partners = less income for everyone else

Unlikely

They dont terang terang tell u, just give you false hope so that they retain staff until after peak

For someone left from big 4 and senior enough, to join smaller firm like YYC those to atleast SM/ED, does it help if we were to do own firm biz next time?

Auditing is probably the best thing an accounting graduate can start their career with. You learn at an accelerated rate and you are able to handle a lot more responsibilities than someone in a commercial firm at the same level. Literally whatever you do later on in your career you can be sure the auditing experience will be relevant and useful because you gain practical experience on how businesses are run as well as technical experience. Not to mention 70-80% of you colleagues are women who have no time to meet other men outside of work. 3-5 years easy then move on.

Mana ada bonus...