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 Manager salary in Audit Firms

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TStannyboy91
post Dec 11 2020, 10:56 PM, updated 6y ago

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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
TStannyboy91
post Dec 11 2020, 11:04 PM

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QUOTE(metalfire @ Dec 11 2020, 11:00 PM)
RM20k, no give tell them go fly kite and simpan kulit.
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Wow
TStannyboy91
post Dec 12 2020, 12:42 AM

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QUOTE(anggaPra @ Dec 11 2020, 11:16 PM)
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+..
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But but this is many years ago or quite recent?
TStannyboy91
post Dec 12 2020, 12:43 AM

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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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Wow that much?
TStannyboy91
post Dec 12 2020, 12:43 AM

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QUOTE(ycs @ Dec 11 2020, 11:19 PM)
pls dont waste your life auditing
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Why?
TStannyboy91
post Dec 12 2020, 03:05 PM

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QUOTE(anggaPra @ Dec 12 2020, 09:25 AM)
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
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Audit salary and the workload really doesnt go hand in hand. However they get promoted easily compared to corporate
TStannyboy91
post Dec 12 2020, 03:54 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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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?
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?
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
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

TStannyboy91
post Dec 12 2020, 05:22 PM

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QUOTE(Screen @ Dec 12 2020, 04:19 PM)
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).
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Really??
TStannyboy91
post Dec 12 2020, 05:24 PM

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QUOTE(gogocan @ Dec 12 2020, 05:22 PM)
big 4?5-6k more like supervisor level only
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Supervisor or assistant manager. Which is higher in terms of rank
TStannyboy91
post Dec 12 2020, 05:26 PM

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QUOTE(cHaRsIeWpAu^^ @ Dec 12 2020, 05:25 PM)
my gf senior exec MNC also 7k wo.

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

 

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