Difference in Big 4 and small audit firm - Part 2

[lyy1992]

I sent a few applications to mid tier firms last week. However, haven't been getting any replies from them. Does this mean that I'm won't have a chance?

Anyone here who got any replies recently from mid tier firms?

 

[kaysee]

I sent a few applications to mid tier firms last week. However, haven't been getting any replies from them. Does this mean that I'm won't have a chance?

Anyone here who got any replies recently from mid tier firms?

mid tier probably ended their hiring for fresh grads last month. fresh grad come in around aug-sept for mid tiers one, at least for the few that i know and i have friends in.

u can pray they call u up for ad-hoc hires ba. all the best

 

[starsandcloud]

May I know what's the average waiting time to receive updates from big 4 after online application?
I'm a fresh grad from UOL accounting & finance (2nd upper hons) ....... I think I have a slim chance to be even called for interviews... tried applications several times already and I am getting demoralised......

 

[snow89]

May I know what's the average waiting time to receive updates from big 4 after online application?
I'm a fresh grad from UOL accounting & finance (2nd upper hons) ....... I think I have a slim chance to be even called for interviews... tried applications several times already and I am getting demoralised......

There is no average waiting time, its all about luck and when your application actually reached them, there are so many applications, they have thousands of applications to vet before yours. If we are talking about waiting time after an interview, yes, definitely yes. But application is unpredictable.

I'm not trying to make you feel even more demoralised, I want to advise you and all the private uni graduates who are having the "I must go Big 4" mindset. As fresh graduates, the chances of getting into Big 4 is just pure luck, there is no guarantee whether you get in or not. For example, I know of average result RMIT graduate (without honours) who got the offer even before final year examinations, and I know of UOL 1st class honour student who got no interview even diligently applying before and after he graduate (until now still haven't get called up). No one can even explain how did the RMIT student got called up for interview instead, both of them don't have relevant job or internship experience or any outstanding items on their resume that are considered attractive to Big 4.

I'm not saying its impossible to get into Big 4, there are stories of private uni graduates getting into Big 4, but those are few (maybe 30 to 50) compared to hundreds and thousands of private uni graduates who are applying for the same particular job, and you will also have to factor in Local graduates who will have the first priority.

You can still carry on to put on hopes that big 4 will call you, they may really call you up if you are one of the lucky ones, but I would recommend that you apply for mid tier firms (not small tier, big 4 don't really recognise small tier firms) at the same time, this is the more realistic path for you. With 1-2 years of audit experience in mid-tier, you don't have to be afraid that Big 4 won't want you. The promotion period in Big 4 usually falls on July or August or September period, and usually after promotion and bonus, the staff will start to resign. And that's why Big 4 will have experienced hire application during this period, to fill up the slots of those who left with experienced auditors.

I think big 4 only sees value in your experience if u have at least minimum 1 year of audit experience. Those who get in big 4 with less than 1 year experience is still just by luck.

Starting your career from mid-tier and slowly move up to Big 4 isn't a bad choice either, its just that you are being at a disadvantage by:
1) lower salary;
2) people who got into Big 4 gets to start working in Big 4 1-2 years earlier than you;
3) chances of you handling more sections than a Big 4 Associate will be exposed to;and
4) you won't get to work in big teams like in Big 4, chances that you will work in small team depending on the size of engagement and size of your firm, and in worst case, most of your jobs are individual engagements.

The good thing to start in Mid-tier is that you get to learn alot more things than an associate gets to learn in their 1st and 2nd year in Big 4. You will to get learn and touch alot of sections in an audit due to the size of engagement (alone or small team). Most of the time, you get to know all the sections when the time goes by.

The 1-2 experience in mid tier firm is not just for putting it in your resume to show, you must make the most out of the 1-2 years to learn as much as possible, all the audit knowledge from your work experience can be transferred to Big 4, you will have an easier life in Big 4 as you absorb things faster.

So do remember to apply for mid-tier too as u wait for your big 4 reply. I do know of someone who only wanted to get into big 4 and didn't give mid tiers a chance, in the end he went jobless for an entire year.

Good luck to you for your audit career.

 

[crazymee184]

There is no average waiting time, its all about luck and when your application actually reached them, there are so many applications, they have thousands of applications to vet before yours. If we are talking about waiting time after an interview, yes, definitely yes. But application is unpredictable.

I'm not trying to make you feel even more demoralised, I want to advise you and all the private uni graduates who are having the "I must go Big 4" mindset. As fresh graduates, the chances of getting into Big 4 is just pure luck, there is no guarantee whether you get in or not. For example, I know of average result RMIT graduate (without honours) who got the offer even before final year examinations, and I know of UOL 1st class honour student who got no interview even diligently applying before and after he graduate (until now still haven't get called up). No one can even explain how did the RMIT student got called up for interview instead, both of them don't have relevant job or internship experience or any outstanding items on their resume that are considered attractive to Big 4.

I'm not saying its impossible to get into Big 4, there are stories of private uni graduates getting into Big 4, but those are few (maybe 30 to 50) compared to hundreds and thousands of private uni graduates who are applying for the same particular job, and you will also have to factor in Local graduates who will have the first priority.

You can still carry on to put on hopes that big 4 will call you, they may really call you up if you are one of the lucky ones, but I would recommend that you apply for mid tier firms (not small tier, big 4 don't really recognise small tier firms) at the same time, this is the more realistic path for you. With 1-2 years of audit experience in mid-tier, you don't have to be afraid that Big 4 won't want you. The promotion period in Big 4 usually falls on July or August or September period, and usually after promotion and bonus, the staff will start to resign. And that's why Big 4 will have experienced hire application during this period, to fill up the slots of those who left with experienced auditors.

I think big 4 only sees value in your experience if u have at least minimum 1 year of audit experience. Those who get in big 4 with less than 1 year experience is still just by luck.

Starting your career from mid-tier and slowly move up to Big 4 isn't a bad choice either, its just that you are being at a disadvantage by:
1) lower salary;
2) people who got into Big 4 gets to start working in Big 4 1-2 years earlier than you;
3) chances of you handling more sections than a Big 4 Associate will be exposed to;and
4) you won't get to work in big teams like in Big 4, chances that you will work in small team depending on the size of engagement and size of your firm, and in worst case, most of your jobs are individual engagements.

The good thing to start in Mid-tier is that you get to learn alot more things than an associate gets to learn in their 1st and 2nd year in Big 4. You will to get learn and touch alot of sections in an audit due to the size of engagement (alone or small team). Most of the time, you get to know all the sections when the time goes by.

The 1-2 experience in mid tier firm is not just for putting it in your resume to show, you must make the most out of the 1-2 years to learn as much as possible, all the audit knowledge from your work experience can be transferred to Big 4, you will have an easier life in Big 4 as you absorb things faster.

So do remember to apply for mid-tier too as u wait for your big 4 reply. I do know of someone who only wanted to get into big 4 and didn't give mid tiers a chance, in the end he went jobless for an entire year.

Good luck to you for your audit career.

Very good and informative answer! Appreciate and thanks for taking the time to write up the answer.

Most of the time first years in big 4 just do vouching vouching and more vouching, the exposure one gets is just not enough. In addition to the insane hours, and if you are unlucky to get into off-peak peak, say goodbye to your life in non-peak period also. OT everyday in non-peak is the norm also.

Did that person get into big 4 in the end?

 

[baka_giraffe]

There is no average waiting time, its all about luck and when your application actually reached them, there are so many applications, they have thousands of applications to vet before yours. If we are talking about waiting time after an interview, yes, definitely yes. But application is unpredictable.

I'm not trying to make you feel even more demoralised, I want to advise you and all the private uni graduates who are having the "I must go Big 4" mindset. As fresh graduates, the chances of getting into Big 4 is just pure luck, there is no guarantee whether you get in or not. For example, I know of average result RMIT graduate (without honours) who got the offer even before final year examinations, and I know of UOL 1st class honour student who got no interview even diligently applying before and after he graduate (until now still haven't get called up). No one can even explain how did the RMIT student got called up for interview instead, both of them don't have relevant job or internship experience or any outstanding items on their resume that are considered attractive to Big 4.

I'm not saying its impossible to get into Big 4, there are stories of private uni graduates getting into Big 4, but those are few (maybe 30 to 50) compared to hundreds and thousands of private uni graduates who are applying for the same particular job, and you will also have to factor in Local graduates who will have the first priority.

You can still carry on to put on hopes that big 4 will call you, they may really call you up if you are one of the lucky ones, but I would recommend that you apply for mid tier firms (not small tier, big 4 don't really recognise small tier firms) at the same time, this is the more realistic path for you. With 1-2 years of audit experience in mid-tier, you don't have to be afraid that Big 4 won't want you. The promotion period in Big 4 usually falls on July or August or September period, and usually after promotion and bonus, the staff will start to resign. And that's why Big 4 will have experienced hire application during this period, to fill up the slots of those who left with experienced auditors.

I think big 4 only sees value in your experience if u have at least minimum 1 year of audit experience. Those who get in big 4 with less than 1 year experience is still just by luck.

Starting your career from mid-tier and slowly move up to Big 4 isn't a bad choice either, its just that you are being at a disadvantage by:
1) lower salary;
2) people who got into Big 4 gets to start working in Big 4 1-2 years earlier than you;
3) chances of you handling more sections than a Big 4 Associate will be exposed to;and
4) you won't get to work in big teams like in Big 4, chances that you will work in small team depending on the size of engagement and size of your firm, and in worst case, most of your jobs are individual engagements.

The good thing to start in Mid-tier is that you get to learn alot more things than an associate gets to learn in their 1st and 2nd year in Big 4. You will to get learn and touch alot of sections in an audit due to the size of engagement (alone or small team). Most of the time, you get to know all the sections when the time goes by.

The 1-2 experience in mid tier firm is not just for putting it in your resume to show, you must make the most out of the 1-2 years to learn as much as possible, all the audit knowledge from your work experience can be transferred to Big 4, you will have an easier life in Big 4 as you absorb things faster.

So do remember to apply for mid-tier too as u wait for your big 4 reply. I do know of someone who only wanted to get into big 4 and didn't give mid tiers a chance, in the end he went jobless for an entire year.

Good luck to you for your audit career.

I totally agree On above.

And snow. I could answer on the rmit as well. It depends on the time you apply as well. Usually around 1 month or so when you apply they will make a decision based on their current intake. If sufficient, they will not take more.

Show you an example, i was from mids. Last year 3 of the four literally poached any mids. As long as you are in mids, have at least 1 year exp, they will headhunt you to ask you for interview. Coz a huge batch in the four actually left.

This year, i have not heard of any, and am not expecting alot. So this will affect the freshies as well.

 

[Milo-Dino]

So at what levels will they start to prefer hiring people from overseas big4 compared to local mid tier? Maybe senior or manager above?

I know they have hired ex overseas big4 staff as low as 2nd year assistant level.

But they look at the client that person was auditing in his/her first overseas. Those super big name mnc will get advantage especially if that person uni results are good.

It's all about luck, maybe they need to fill vacancy so they will take overseas candidate too. If not, local candidate will save them time n effort since no need to apply employment passes.

Sent from Xiaomi MI NOTE LTE using GAGT

 

[miserable123]

I know they have hired ex overseas big4 staff as low as 2nd year assistant level.

But they look at the client that person was auditing in his/her first overseas. Those super big name mnc will get advantage especially if that person uni results are good.

It's all about luck, maybe they need to fill vacancy so they will take overseas candidate too. If not, local candidate will save them time n effort since no need to apply employment passes.

Sent from Xiaomi MI NOTE LTE using GAGT

Haha i know right. I have been expecting this answer. Our clients portfolio is important. Better audit big client.

I also feel that it will be an advantage if they audited industry that involves complex acctg standard such as revenue recognition for telecommunication or construction. Lol. Correct me if im wrong.

 

[Milo-Dino]

Haha i know right. I have been expecting this answer. Our clients portfolio is important. Better audit big client.

I also feel that it will be an advantage if they audited industry that involves complex acctg standard such as revenue recognition for telecommunication or construction. Lol. Correct me if im wrong.

The more complex ones are not those you mentioned, but those that have significant amount of Frs 39 items on their books. Companies that deal with commodities and financial institutions mainly.

Sent from Xiaomi MI NOTE LTE using GAGT

 

[thechew]

big 8 higher than 2.4...

is it. thats quite good leh! i thought big 8 would be 2.4 or less

 

[GearFour]

is it. thats quite good leh! i thought big 8 would be 2.4 or less

No la, big 8 will be paid more, I'm from one of the big 8. Maybe those after big 8 will be lower. But have to be realistic also, because even you get a few hundred better in a particular firm, when u starts to ot alot more often, and u divide by the number of hours u work per day, maybe like mcdonalds' rate. hahaha.

 

[lyy1992]

mid tier probably ended their hiring for fresh grads last month. fresh grad come in around aug-sept for mid tiers one, at least for the few that i know and i have friends in.

u can pray they call u up for ad-hoc hires ba. all the best

Thanks for the info! Do you know when is their next recruitment period?

 

[Hymnody]

is it. thats quite good leh! i thought big 8 would be 2.4 or less

what are the 4 companies after big4 ?

 

[alexilaiho]

No la, big 8 will be paid more, I'm from one of the big 8. Maybe those after big 8 will be lower. But have to be realistic also, because even you get a few hundred better in a particular firm, when u starts to ot alot more often, and u divide by the number of hours u work per day, maybe like mcdonalds' rate. hahaha.

got time off to compensate ma... not at least free labour lol.. somemore ot is offset by non peak periods where it is more slack imo.. must be positive..

 

[summer_scent]

Are the mid tiers still hiring for audit associate positions? :/ currently working in 6 month contract ending in dec. Still wanna give audit a shot. Just graduated from SIM-UOL A&F.

 

[kaysee]

Are the mid tiers still hiring for audit associate positions? :/ currently working in 6 month contract ending in dec. Still wanna give audit a shot. Just graduated from SIM-UOL A&F.

I just mentioned below the hiring period for mid tiers.

Thanks for the info! Do you know when is their next recruitment period?

usually mid tiers around august - sept annually. of course like i said you can try for their ad hoc hires around the year, in really small numbers.

No la, big 8 will be paid more, I'm from one of the big 8. Maybe those after big 8 will be lower. But have to be realistic also, because even you get a few hundred better in a particular firm, when u starts to ot alot more often, and u divide by the number of hours u work per day, maybe like mcdonalds' rate. hahaha.

hahaha. you will be surprised some big 8 i know pays 2.4 and above, not all big 8 above 2.4. super niao some of them

 

[micelittle]

Big 4 opening for experienced hired

Hi ,

Anyone know of opening for experienced hired for Deloitte, or when will it be generally available?
I did'nt managed to find from their net

Any idea which big four is more responsive to experienced hired from the mid tier???

Thanks thanks

 

[rubyrain90]

Hi, I'm starting as an audit executive (SME dept) next month with EY. First day of work was supposed to be 11 Sep, which has just been announced as Polling Day so... still waiting for updated details from the HR.

Anybody else in the same recruitment batch?

 

[Milo-Dino]

Finance Analyst (International opportunity)
LEGO Group
http://www.linkedin.com/jobs2/view/69368097
Located in Singapore on the first year and in Billund (Denmark) on the second one, Willingness to travel internationally (up to 20 days a year)

A fresh university graduate with at least 2nd Upper Class Honours or at least GPA of 3 in Bachelor of Accountancy, Business or Finance, or ACCA Level 3 certification or up to three years’ experience working in an audit or public accounting firm.

wow.. too bad the other positions i tried all failed at lego

 

[Milo-Dino]

Hi, I'm starting as an audit executive (SME dept) next month with EY. First day of work was supposed to be 11 Sep, which has just been announced as Polling Day so... still waiting for updated details from the HR.

Anybody else in the same recruitment batch?

is it aabs 23?

say hi to partner for me haha