Big 4: Audit senior manager and manager salary levels

[EDmummy]

Hello all,

Just joined couple of days ago as we may be moving to Singapore later this year.

Husband and I both work for a Big 4 in London and there is an opportunity for us both to go on a 2-year secondment to Singapore. We have started talking to the Singapore office but haven't discussed salaries,etc. so I was wondering if anyone can shed some information on salary levels so that I get a basic idea before we start negotiation:

Husband: Audit Senior Manager (ACA - IFRS), started working in 2001, qualified in 2004

Myself: Audit Manager (ACA - IFRS), started workingin 2003 and qualified in 2006

Would be interested in net monthly salary after tax for similar positions and what standard of living we can expect on this. We have a 6m old baby and therefore will need a full-time nanny

Finally, is part-time working for working mums common practice in Singapore or not really?

Thank you very much to everyone for your help in advance.

[ACCA lecturer]

Salaries: I'm guessing here but, judging from what I hear from past students, around $10,000 per month for Senior Manager, $8000 for manager. I could be widely off-base. That being the case you'll be OK but not rich.

Nanny: In Singapore this effectively means a live-in maid who'll look after your baby and the house. This can work out well if you get the right person (if you search for maid threads on here you'll find lots of discussion).

Working hours are horrendous in the Big 4, In the busy period often till 3/4/5am etc.

Part-time? Unlikely. A friend of mine who was the Training Manager at a Big 4 firm asked about going part-time. She was told that she wasn't sufficiently dedicated and so resigned.

If you want to work part-time have you thought of lecturing? I work 2 days per week with about 3 months off per year, which works well for us. If you want to discuss further register and PM me.

[previous friend]

Worked part time at E&Y.  Was in their internal audit outsourcing dept though (ie where clients outsource IA to E&Y) not usual audit.

Salaries above sound about right.

[EDmummy]

Thank you very much both. If there's anyone on the forum who is currently working in a Big4, would very much like to chat with you.

[EDmummy]

Sorry, meant to ask if this is on a net basis after all the tax or gross? If it's gross, how much do you normally have left in your pocket after tax and national insurance, etc?

[Big 4 senior]

Thank you very much both. If there's anyone on the forum who is currently working in a Big4, would very much like to chat with you.

I work for the big 4, and a PR, in short an expat asian, i believe the salary mentioned is on the high side, i believe a manager will start at $6k to 8k, and SM, should be around 7k to 9k.

I am not so sure how your secondment will work out, you should need to check if housing is provided, and where this will be. If housing is provided, expect to receive the lower salary levels, coz i dont believe a firm is willing to pay you the same rate as the local hires. if you are getting an additional accomodation.

working hours wise, its bad, but as mentioned by my manager who came from london, the working load is the same, its just the working habit that differs between sg and london. remember, global audits normally have global recovery rates, as such, i believe the alloted hours needs to be well spent.

[NYC]

I don't know what the Big4 people in London learn, frankly.

My subordinate complained to me that "that idiot" from XX firm didn't get it, and asked silly questions which seem to indicate that she had never worked in the industry before.

A Big4 manager she was. I had to waste my time setting her straight for the "issues" she had with the SPV set up and the strat tables, when we had gotten Clifford Chance's senior law partners to vet.

Waste of space. Never had to deal with that in NYC.

[EDmummy]

Not sure what your issue is NYC. I didn't ask what you thought of Big4 people.

Go and make some real friends and stop being nasty on this forum to people that are after some important information in making major decisions in their lives.

[NYC]

I made a comment on idiots, and did not ask for your opinion either.

Sheesh1   

[Auditee]

I can confirm that the auditors here work tremendously long hours.

As a former auditor, now working in industry, I think all auditors are pretty clueless and I laugh at myself when I was an auditor.
The problem with the Singaporeans is that they run on rails and are totally afraid of taking any positions or decisions.

As to the specific question by the OP about taxes, they don't operate PAYE here.  You get paid gross and pay your taxes in arrears.  The tax rates are stated in IRAS web site.  Just google "Personal tax rates Singapore".  They are a lot lower than you paid in London.

[Apparently]

Not sure what your issue is NYC. I didn't ask what you thought of Big4 people.

Go and make some real friends and stop being nasty on this forum to people that are after some important information in making major decisions in their lives.

He pays too much tax...... so dislikes accountants ?

[Auditee]

BTW, as a career move, have you considered the disadvantages of moving from one of the three main financial centres of the world to a much lesser centre like Singapore?  After two years you will be out of date with the UK company law etc. and will have probably lost your place in the pecking order of promotions in London.

If you were moving to NY or Frankfurt, I could see the point but is Singapore good for your careers?

[to nyc]

You really are an arrogant tosser aren't you.

Fyi, parent worked at a chemical factory, mum a part time teacher. Went to local comprehensive.

As you are so obsessed with it, was top ten on Oxford entrance exam and managed to be Blues captain while I was there. Also won a prize coming first on my aca exams. Now head of
 My dept in asia and senior director at a major IB. If you are so f+cking bright then why not ivy league?

Nyc accountants being better than uk is a sad joke.  They are mostly shite. This is not trying to claim Americans are thick, the industry is just held in different levels of esteem on different sides of the pond and UK gets higher calibre applicants, US it gets dross.

As for your ethnicity, get the chip off your shoulder, lots of Asians (especially quants) in NY. Very much doubt you know a sodding thing about yield curves let alone anything vaguely complicated.

OP, please ignore this self obsessed tosser.

[done this]

The numbers quoted look low to me.
I joined a big four in HK in 1992 starting salaries for married managers and senior managers were then S$9k and S$12k a month inclusive of housing plus flights home plus gratuity after two and 1/2 years.
I would not move for less than your current London salary plus housing etc.
Hrs for auditors in this part of the world are crazy... which is why I got out after only two years

[Auditee]

Certainly do not move for less than what you are on in London.
Singapore is not cheap and why should you, anyway?