wats toil?
time off in lieu?
Yes. TOIL is time-off in lieu. Currently only EY has it, the rest have scrapped it since the economic downturn in 2008. However, the TOIL system is not equally rolled within the firm as well. Some department encourages its employees to charge more hours and utilise their TOIL earned, while some employees in other departments might not have the time to go on TOIL and therefore have to forfeit the TOIL earned previously. Therefore, whether TOIL is a benefit, it will depend on your department culture.
I just wanna know what is the welfare thing you all talking about cause I keep hearing about it.
Staff welfare can come in many forms, monetary or non-monetary.
- Monetary: Certain service line might declare more bonus than the rest, even within the same firm. Also note that EY's promotion and bonus period is in Sept/Oct, whereas the other 3 is in June/July. And this is an important consideration!! TOIL might not be attactive afterall.
- Non-monetary: It can come in the way of TOIL (e.g. in EY). Or department benefits where there are alot of teambuilding activities throughout the year or staff overseas trip (Company/department culture). It can also come in the form of staff support where the workload can be better managed and you can achieve your worklife balance. Some firms have the tendency to squeeze their employees dry, therefore you have to weigh the benefits yourself and know what you want in life. The term welfare should not be judged based on the company's profile, but probably on the department you want to work in. As mentioned above, even within the firm, the work procedures and culture might differ from the others.
Do some homework and talk to people in those department to get a better understanding of the work, benefits, remuneration before making an informed decision.
Good luck!