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BIG 4 salary

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Newbie
Oct 2, 2014
22 posts
6 upvotes
Halifax, NS

BIG 4 salary

When i was told the range of senior consultant (risk/audit) in one of the big 4 is 45-55k..i was so surprised!!
seriously?! the education requirement is master and/or CPA.

anyone know what's the average??
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Sr. Member
Oct 20, 2009
718 posts
326 upvotes
Toronto
ChrisCoco wrote: When i was told the range of senior consultant (risk/audit) in one of the big 4 is 45-55k..i was so surprised!!
seriously?! the education requirement is master and/or CPA.

anyone know what's the average??
check out glassdoor.com tons of salaries are listed on there.
Newbie
Nov 15, 2014
29 posts
3 upvotes
Toronto, ON
45k is the standard entry level wage, at least for audit and tax. Your source is likely wrong.
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Mar 31, 2005
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Calgary
Master &/or CPA is not a requirement. I think you should recheck your sources. Plus audit and risk are two different areas that, while often work together, don't usually require the same credentials. I spent a decade in Big-4 IT Audit and Risk Services and even through the accountants and finance people I worked with, a masters was almost unheard of (and not specifically desirable) and there were more CAs than CPAs (however I can't comment on the current state of accounting designations). And most of those were in the middle of completing their designations when they were still seniors.

As for the salary, for a new Sr. Consultant I wouldn't be surprised at 55k, but under that seems low. For a Consultant (not Sr.) that's probably not too far off.
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Dec 8, 2007
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Jan 9, 2011
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Depends on city.

In Vancouver, starting staff in audit is low to mid 40's. You get paid more at the mid sized, and even more at the small sized firms. They can afford to pay you less because you want the name of the big 4.

Your salary goes up over the years, but if you left a career to get your CA at a big 4 after going to school (like DAP at ubc) then the small starting salary definitely sucks.

If you're straight out of undergrad into a big 4, it's fine.
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Jul 29, 2004
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ChrisCoco wrote: When i was told the range of senior consultant (risk/audit) in one of the big 4 is 45-55k..i was so surprised!!
seriously?! the education requirement is master and/or CPA.

anyone know what's the average??
For Halifax? Probably very low overall pay because cost of living is very low, plus the maritime markets are very small.

The highest paying cities are Toronto and Calgary.

But for senior consultant that can't be the right range. Whoever told you that confused entry level and senior level.
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Nov 27, 2006
2200 posts
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Toronto
ChrisCoco wrote: When i was told the range of senior consultant (risk/audit) in one of the big 4 is 45-55k..i was so surprised!!
seriously?! the education requirement is master and/or CPA.

anyone know what's the average??
lol, the education requirement is nada. they just put that there to weed out the morons.
Newbie
Feb 2, 2006
28 posts
3 upvotes
Sypsy wrote: Depends on city.

In Vancouver, starting staff in audit is low to mid 40's. You get paid more at the mid sized, and even more at the small sized firms. They can afford to pay you less because you want the name of the big 4.

Your salary goes up over the years, but if you left a career to get your CA at a big 4 after going to school (like DAP at ubc) then the small starting salary definitely sucks.

If you're straight out of undergrad into a big 4, it's fine.
Isn't this a bit high?

I heard that last year's batch started at CAD38.5k (big 4 only) in Vancouver.
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Nov 12, 2013
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Iceland
Viktri wrote: Isn't this a bit high?

I heard that last year's batch started at CAD38.5k (big 4 only) in Vancouver.
And people aspire to this while studying in University? I couldn't imagine hoping to land a job a top company and only making 38.5K. 38.5K and living in Vancouver is comical.
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Feb 11, 2005
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Hydropwnics wrote: And people aspire to this while studying in University? I couldn't imagine hoping to land a job a top company and only making 38.5K. 38.5K and living in Vancouver is comical.
You get used and abused at Big 4 firms until you get your CA/CPA. They know that you need them for your requirement hours to qualify and the training programs they pay so they'll pay you borderline offensive salaries. Once you get your hours in and pass the exams they start paying up more but that's why people typically leave because you can still make more money and work less even after they start paying you better.

I don't know if i'd call working at an accounting firm a 'top company' to be honest.
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Jan 9, 2011
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Viktri wrote: Isn't this a bit high?

I heard that last year's batch started at CAD38.5k (big 4 only) in Vancouver.
I was a staff 1 in 2008, so I figured the numbers had changed. I started at 38.5k at the time too. Times .... don't change. =\
Member
Oct 21, 2008
292 posts
34 upvotes
Toronto, ON
Viktri wrote: Isn't this a bit high?

I heard that last year's batch started at CAD38.5k (big 4 only) in Vancouver.
I hear the exact same thing from my friends who got hired there yet people on RFD always say it's over 40k. I don't know who to believe.
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Jul 29, 2004
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Hydropwnics wrote: And people aspire to this while studying in University? I couldn't imagine hoping to land a job a top company and only making 38.5K. 38.5K and living in Vancouver is comical.
They aspire to guaranteed 6 figure incomes, which they will get with a designation and Big 4 experience.

Some people know how to think long term.
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May 16, 2005
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Hydropwnics wrote: And people aspire to this while studying in University? I couldn't imagine hoping to land a job a top company and only making 38.5K. 38.5K and living in Vancouver is comical.
People fight tooth and nails to get into these 'entry' level jobs not for their immediate salary. Its for their career progression opportunities within that company/industry as well as the exit opportunities having that company on their resume provide them with.

Or are you one of those RFDers that make 100K straight out of university?
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Nov 12, 2013
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commie wrote: People fight tooth and nails to get into these 'entry' level jobs not for their immediate salary. Its for their career progression opportunities within that company/industry as well as the exit opportunities having that company on their resume provide them with.

Or are you one of those RFDers that make 100K straight out of university?
Nope, I just find it odd people are fighting tooth and nail for jobs paying less than 20 per hour straight out of Uni. My friend works at a call center (York for research purposes) for 18 an hour during her studies, weird that these supposed top companies are on par with a call-center. I would hope your salary increases dramatically in 5-10 years. Must be an incredibly saturated and competitive field where that top companies, attracting top talent, only have to pay them 18 per hour. I don't think I'd wanna devote 4 years of constant studying to just make 38.5K at these 'top companies'. Makes you wonder if university is worth it if you have be the top of the class for a measly 38.5k salary, pretty sad. I know lots of people that finish university and college, that start way north of 18 per hour. But of course I'm making this up, according to all the naysayers on this forum. Imagine if Blackberry, Bombardier, Barrick, etc only paid top talent 38.5k to start off at.
"Between my salary and the office supplies I pilfer, I'm making 6 figures."
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Sr. Member
Aug 30, 2008
909 posts
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ON
ienhz wrote: I hear the exact same thing from my friends who got hired there yet people on RFD always say it's over 40k. I don't know who to believe.
It is 40k++, just not in Vancouver. In Toronto it was 40k starting for co-op on avg, but this was several years ago. Might've changed, though I doubt by much. For a full-time start, it'd probably be a bit more than co-op.

I kind of wonder if the availability of more training offices will cause the starting wages to go up or down since there are more potential employers, but perhaps the audit route in a big firm is still the "traditional" route.

Big 4 salary goes up fast. Nobody keeps working at the entry level for 40k... in three years, you should be a senior making at least 60k, and more if you're one of those superstars.

It's definitely for something long term, who else is going to slave away for 70 hours or more during busy season when they're essentially making minimum wage on an hourly basis LOL.
Member
May 21, 2012
236 posts
18 upvotes
Hydropwnics wrote: Nope, I just find it odd people are fighting tooth and nail for jobs paying less than 20 per hour straight out of Uni. My friend works at a call center (York for research purposes) for 18 an hour during her studies, weird that these supposed top companies are on par with a call-center. I would hope your salary increases dramatically in 5-10 years. Must be an incredibly saturated and competitive field where that top companies, attracting top talent, only have to pay them 18 per hour. I don't think I'd wanna devote 4 years of constant studying to just make 38.5K at these 'top companies'. Makes you wonder if university is worth it if you have be the top of the class for a measly 38.5k salary, pretty sad. I know lots of people that finish university and college, that start way north of 18 per hour. But of course I'm making this up, according to all the naysayers on this forum. Imagine if Blackberry, Bombardier, Barrick, etc only paid top talent 38.5k to start off at.
E&Y - 37,500 to start
This in Vancouver salary, so if it's in a different city, it's perhaps a bit different. But the salary was talked about a few years ago, so depends on the wage now.

It's true though, what you talk about with Blackberry are Enginering firms which has a higher potential in salaries. It's not a compare to accounting, because of the different field choice. Some call center.
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Jun 12, 2009
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Accounting income is really misconstrued.

Somehow, people think accountants make 6 figures and are very well off. Is this true? Yes, "for some", vast majority are stuck in that mid-tier between 65k and 85k if they "have a designation" and we'll below 65k if they do not.

What people don't look at is the amount of experience and education required to actually be worth six figures as an acccountant;

Simply a CA, CMA, or CGA - you are fighting experience. Recap:
4-6 years degree
2-3 years post grad program
---
6-9 years education (min).

Experience to see over 65 is min 3 years:
7-10 years - most work and do the post grad program concurrently.

That's some 7-10 year of education to be "worth" 65k - 85k.

Break 100k? You need a manager title in any CA firm: min 5 years total experience (if played cards right):

10-15 years investment in education and experience to hit 100k self-worth.

-----

Leave public practice stream - because most hate it? You are likely 75-90k at 7-10 years education + 1 year roll-over: to make slightly less than 100k.

----

Different service in practice? More education required: CFA, CBV, CFE, TEP, all require 2-4 years education and concurrent "relevant" experience, above that 7 year base:

That's (9-11) - (12-14) years investment for a salary that's not even guaranteed.

----

Conclusion: people are *****ing stupid for thinking accounting is an easy and fast stream to 100k salary.

Notice, I didn't even talk about hours input in a day.
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May 16, 2005
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Hydropwnics wrote: Nope, I just find it odd people are fighting tooth and nail for jobs paying less than 20 per hour straight out of Uni. My friend works at a call center (York for research purposes) for 18 an hour during her studies, weird that these supposed top companies are on par with a call-center. I would hope your salary increases dramatically in 5-10 years. Must be an incredibly saturated and competitive field where that top companies, attracting top talent, only have to pay them 18 per hour. I don't think I'd wanna devote 4 years of constant studying to just make 38.5K at these 'top companies'. Makes you wonder if university is worth it if you have be the top of the class for a measly 38.5k salary, pretty sad. I know lots of people that finish university and college, that start way north of 18 per hour. But of course I'm making this up, according to all the naysayers on this forum. Imagine if Blackberry, Bombardier, Barrick, etc only paid top talent 38.5k to start off at.
You are still not getting the big picture. As the saying goes, look beyond the trees for the forest.

The appeal of the Big 4 accounting firms is not their STARTING salary, its their potential to rapidly move up the corporate ladder, or be exposed to exit opportunities.

Example:
If you are working at the call center working for $18/hr, how much would you make in 5 years time? Most likely the same $18/hr
if you are making $50-60K at Blackberry, Bombardier, Barrick, etc..., how fast can you move up? What will your salary and level be in 5 years? Most likely, maybe a Senior Analyst with maybe a bump to 70-80K if you are lucky or good.

now the reason the Big 4 is attractive to lots of people, and why they can get away with offering such a low starting salary is that they know they got you for the first 3 years while you get your CA/CPA designations.
But your experience and salary increases even at the public firms grow dramatically beyond years 3. Once you make Senior Staff Accountant, things are looking up, you should have your CA/CPA designation, and are taking on greater and greater responsibilities.
By year 5, you should be on track to be Manager, if not you will be looking for exit opportunities with your CA/CPA designation. At this level, you will be exposed to projects where you are talking with the client's senior management level, gaining valuable experience and networking contacts. the 100K salary will come at this point whether that is within the public accounting firm and you keep moving up the Partner level, or you move to industry with your contacts.

Compare to your call center job or the IT jobs at Blackberry. Can the same be said of them in 5 years?

Do you see the picture now?

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