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Hi fishes! I had asked for benefits other than CTC which Bank of America provides & now that I've completed 1 month here, here's the list of allowances you'll be getting irrespective of position/band:
1. Sodexo: 1300 p.m./ 15,600 p.a.
2. Transport allowance: 900 one way, 1800 two ways p.m./ 21,600 p.a.
3. Internet: 1500 max p.m. (other than that, one time installation charges)
4. Tuition fee: Any certification related to your field. Like CFA, FRM etc. 3,00,000 p.a.
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Hourly pay rate
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What are exit opportunities from big 4 ITDD??
Additional Posts in Accounting
What are raise amounts or percentages per year?
Taking BEC tomorrow... any suggestions/ advice?
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Rising Star
$85-95k isn’t a final destination. IMO, it’s reasonable for someone with only 2 years of experience, low for someone with 5 years of experience.
Same
A raw salary isn’t enough to judge the offer. What location? That’s a good salary in, say, Nashville, but a lousy salary in Los Angeles. We start at $80-85K in the HCOL markets and as low as $60K in LCOL markets. Assume 25-30% higher after 3 years. So, $85K is pretty good, depending on where.
A person with 2 YOE at big 4 barely knows how to do anything. They might be expecting more money, but they aren’t worth more money.
That’s because you learn more in the middle market in the beginning. Long term you’ll be better educated and more trained at the big 4. But if you start as somewhat of a generalist at a mid tier firm you learn a lot of different things in the first 3 years.
Is that for public or private? If private and never over 40 hours a week seems like a good gig?
And 1 of the hardest business licenses to get? I hardly doubt that. Lawyer, CFA, series 7 are way harder and that is just to name a few
LOL, I have both Series 7 and a CPA. CPA exams were way harder. CPA is to pass 4 exams within a certain time frame and the topics are much broader than the Series 7.
Chief
If you got laid off from big four, then this might be the best you can do.
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Ok
It sounds like they are looking for a senior associate. For someone with 2-3 years, that salary is actually market rate. If you’re at 5 YOE and it’s the only role you can get, then I’d say that’s your market rate as well.
That's not a bad salary for a low or moderate cost of living and 2 years experience. Anything beyond that and you're likely underpaid. However, you need to balance that with WLB and maybe options or other benefits that the private employer may offer.
One is revenue engine and the other is cost department. And hours are not comparable
I started in public accounting 34 years ago and there have always been layoffs in the BIG 8 now 4 Up or out and they don't care. Went 2nd tier and was a lot happier and made more money in the long run. Became partner and had a say also.
I’m with you OP.
New audit hires out of college are in the 90s these days in the northeast
Is it 2 or 5? Those are very different
What COL? In MCOL, not unreasonable
This!
Ok i am working 70 hr/s agree with you no matter i interested to start work with you.
Feel better?
Someone sounds like they are very clueless about payscales and their value..most controller positions range between 100k to 150k max same for CFOs of non public companies..
100k-150k for a CFO? lol.
At that level of experience there’s a lot of other factors that matter more than starting salary: client exposure, brand recognition, proximity to senior leadership, project types and learning opportunities, training, upward mobility, exit opportunities, potential for other forms of compensation (bonuses, profit sharing, equity, carry, etc.) now or in the future, etc.
When I was a CPA with 2 years of Big 4 experience I took a job offer with a salary of $75K that I knew had those other key factors. 4 years later at that same company I’m making $250K with a clear path up. No regrets.
Depends on the practice but generally, no. Though you’ll be competing with CPAs when applying so it’s better to have it to level the playing field. I also think some practices might require it to be promoted past a certain level
that is a good salary as per my expectations
That's super common. It's even less starting in the public sector. LoL