Big 4 - tax consulting

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  1. #1

    Join Date
    Jul 2006
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    1

    Big 4 - tax consulting

    Hi,

    I'm an Aussie that has just been offered a position as a tax consulting manager in one of the Big 4 firms in HK. The total package is around HKD55,000 per month, which includes a housing allowance of 12,000 (with any part of the allowance that is not used received in cash and taxed as salary). Does anyone know how much scope there is for negotiation on these offers (or whether the salary proposed is reasonable to start with)? At the moment, my net cash after tax position will be less under the proposed package than what I currently receive here in Melbourne by around A$1,000 per month (even taking into account Australia's higher tax rates). I would have thought that they would at least try to match my current take home but pehaps this is just their way of starting the negotiations. Any input on the above would be much appreciated!

    Thanks,
    a_b_c


  2. #2

    Join Date
    Oct 2005
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    14,207

    theres usually always room for movement so theres of course no harm in asking for a little more.

    What else are you getting with your package?

    Flights home?
    Medical Insurance etc etc?


  3. #3

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    Oct 2005
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    Sounds in the right ballpark. I heard that Senior Managers at one Firm get between 65 and 80k/month, but as usual with the Big 4 there are always variances dependent on demand, what you can negotiate etc.

    If you haven't already, you should try to speak to someone with experience of the work/life balance in Big 4 HK firms - I've heard it can be pretty severe. Maybe the same is true in Melbourne tho...


  4. #4

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    Oct 2005
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    HK Island
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    thats roughly what i heard the 1st year managers get, but that seems local package, housing benefit is also thrown in for them too from what i gather.

    tbh, you could definately push for more. i know there is a high turnover with managers at my office (also tax, big 4), and they need more for sure.


  5. #5

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    Jul 2006
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    Numbers can't be right?

    Hi a-b-c

    I just came from Australia myself. The salary that you are quoting (AUD11k after tax) seems to indicate that you are at the top end of the big 4 ladder (director perhaps). The salary you are quoting for the role in HK seems to be for either a first or second year manager. Is that right?
    Last edited by Bluebear; 21-07-2006 at 02:16 PM.

  6. #6

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    Jul 2006
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    Thanks for the replies

    Hi,

    Thanks to all of you for your replies. I had to register a new username since my old one stopped working for some reason.

    Anyway, Bluebear, to answer your question, I would be a senior manager/director if I were in a Big 4 firm here in Australia. However, the firm in HK says that my experience in Australia is not entirely relevant in HK plus I would be moving out of a generalist tax role where I cover everything from individual through to corporate tax, to a more specialised role structuring/examining tax implications in the context of cross-border M&A/private equity deals (which I have no experience in).

    I also spoke to another big 4 firm who could only offer me a supervisor role because of my "lack of local tax experience".

    Cheers,
    abc


  7. #7

    Join Date
    Jul 2006
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    9

    The allowance is also tavable in HK but of course, HK taxes are much lower. With Big 4s, I presume there is not much room for negotiation as they tend to stick to their pay scale which has small variation of each grade. However, as they are seriously short of staff at the moment, you can perhaps try. I know someone who was able to get the top pay of the grade when she was transferred to HK years ago (but she was offered that without negotiating at all.)