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Hi Sharks, Need urgent advice, I have offer from citi and synechron, synechron giving 4 lakh extra and client is hsbc bank, role is application support. DOJ on Tuesday. Please assist immediately. How is job security in synechron Citi India Synechron Inc.
And how is average hike in citi. YOE 6 years
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Possibly but it takes a ton of time learning to get there from a technical perspective. Often times that person in industry spent significant time in public accounting. To make partner money anywhere you will need to work your ass off. They don’t hand partner money to 40 hour a week employees at most places.
Remember there are generally just a small handful of these jobs and hundreds of very talented, hard working people who want them. The big difference is if you have 5 Senior Managers who are all making a ton for the firm, and all hitting all the other marks they will all make Partner eventually. Those same people in corporate maybe 1 makes C-level, maybe they hire from outside and none of them do. The rest either sit where they are forever, get laid off for making too much money, or have to leave to find growth.
Yeah that is true but that is a BIG if. Maybe things are different for audit, but in tax it is extremely rare. It’s been a while but if memory serves I think a big four tax partner needs $7m book of business. A lot of Big 4 firms are letting tax partners go because they are not hitting the numbers and the expectation is that it will be a lot harder to do so on tax going forward.
If partner money means $500k, then generally CFO.
That depends. In a average cost of living, $200 base, $80 bonus target, $200 equity target. Sounds great but bonus and equity are dependent on company performance. Equity vests over 3 years. Some time based some performance. Due to portion at risk, I wouldn’t say this persons “makes” $480.
I’ve seen senior director level
My dad is in the C-Suite of a public company and he was telling me about a guy that works for him around 40 years old that made Senior manager in public and bounced and is “well over” $400k supposedly. But yeah you’re gonna have to work for it, regardless of public or industry
Yeah it can happen. 1) it’s rare 2) you need to be a stud 3) this person was senior manager in big 4 most likely 10-15 years of experience. There is so path to big money in this industry with out serious time sacrifice. That’s my main message. I would say people that leave public at senior rarely ever make these positions as company’s will hire expedite big 4 people to feel any open needs.
Depends. Big 4 partner salary, only for the top companies in certain industries like tech or finance, because of stock comp. I worked at a F500 company and my boss was a former Big4 tax partner and he said that he was taking a pay cut from a salary perspective. But when you added up all the stock comp and other perks, it was actually the same or slightly better, especially if the company’s stock price hit a certain targ we price.
Also, never underestimate the benefit of not having to worry about all the admin and biz development that comes along with being a partner in Big 4 or at any public accounting firm.
For your remaining mid size firms like GT, RSM and BDO, you can definitely make more money on house. The two tax planing directors I worked for in house both made more than the tax partners I worked for, and they worked far less hours.
I should caveat that all of my experience is on the tax side; however based on some good friends who went from Big 4 Audit to corporate world, it’s the same story.