Big 4 Starting Salary (Deloitte) Watch

iota0562
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Having got a 1st in economics at the University of Leeds, and completing an internship at EY, I have been offered a graduate role in Corporate tax in the Deloitte Manchester office. I was exited to start and thought I landed myself a great job but the salary is only £21,000. I dont want to sound entitled and naive but I was kinda expecting it to be more around the 25k mark, particularly as I know the work-life balance isn't the best. I feel it'd be crazy to pass up on this opportunity but at the same time feel it may not be that big of an opportunity after all - maybe I could a better job elsewhere? Thoughts?

Thanks for everyone's response in advance https://static.thestudentroom.co.uk/...lies/smile.png
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Princepieman
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(Original post by iota0562)
Having got a 1st in economics at the University of Leeds, and completing an internship at EY, I have been offered a graduate role in Corporate tax in the Deloitte Manchester office. I was exited to start and thought I landed myself a great job but the salary is only £21,000. I dont want to sound entitled and naive but I was kinda expecting it to be more around the 25k mark, particularly as I know the work-life balance isn't the best. I feel it'd be crazy to pass up on this opportunity but at the same time feel it may not be that big of an opportunity after all - maybe I could a better job elsewhere? Thoughts?

Thanks for everyone's response in advance https://static.thestudentroom.co.uk/...lies/smile.png
it's market rate for big4 outside London. starting salary is a dumb thing to focus on mate, big4 exp + the qualification you get will easily put you on £35-45k in a few years.

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iota0562
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(Original post by Princepieman)
it's market rate for big4 outside London. starting salary is a dumb thing to focus on mate, big4 exp + the qualification you get will easily put you on £35-45k in a few years.

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Okay thanks mate, really appreciate the response. Alot of my friends have got graduate jobs in London so I guess that's why I feel the starting salary is low in comparison, but I need to consider the living costs. Like you said, Deloitte should set me up well for the future (providing I pass the tax exams of course!).
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Zac05627348
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(Original post by J-SP)
Your friends in London are probably paying anywhere from 60-100% more in rent than you will in London. Your take home pay after rent/mortgage is probably higher than theirs.
Yeah true!
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Oilfreak1
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(Original post by Princepieman)
it's market rate for big4 outside London. starting salary is a dumb thing to focus on mate, big4 exp + the qualification you get will easily put you on £35-45k in a few years.

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It is still kinda *****y, debating on going to b4 or stay in my niche strategy house while I wait for banks this year myself (one last push for ib before i relax in consulting for my life).

My big4 offers (graduate) for september start were ca. £32-35k I don’t get why regions should accept that they’ll hit london starting in a few years when they do the same work
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RogerOxon
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(Original post by iota0562)
I have been offered a graduate role in Corporate tax in the Deloitte Manchester office. I was exited to start and thought I landed myself a great job but the salary is only £21,000.
(Original post by iota0562)
I was kinda expecting it to be more around the 25k mark, particularly as I know the work-life balance isn't the best.
(Original post by iota0562)
I feel it'd be crazy to pass up on this opportunity but at the same time feel it may not be that big of an opportunity after all - maybe I could a better job elsewhere? Thoughts?
It sounds low to me, although it's not my area. As has been said, the cost of living in Manchester is much lower than London.

If you think that it's a great job, with only the salary that is disappointing, then I'd still go for it. You can always change later, which is easier if you're already in a job.

Did you get any other offers?
Did you negotiate the salary, or is it (presented as) a take it of leave it type deal?
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Princepieman
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(Original post by Oilfreak1)
It is still kinda *****y, debating on going to b4 or stay in my niche strategy house while I wait for banks this year myself (one last push for ib before i relax in consulting for my life).

My big4 offers (graduate) for september start were ca. £32-35k I don’t get why regions should accept that they’ll hit london starting in a few years when they do the same work
Big4 consulting =/= big tax/audit

and it's usually not the same work.. regional b4 clients are very different to the types of clients you get in London.
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Oilfreak1
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(Original post by Princepieman)
Big4 consulting =/= big tax/audit

and it's usually not the same work.. regional b4 clients are very different to the types of clients you get in London.
Duno about clients but yeah fact that hes not consulting complerely flew over my head
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iota0562
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(Original post by RogerOxon)
It sounds low to me, although it's not my area. As has been said, the cost of living in Manchester is much lower than London.

If you think that it's a great job, with only the salary that is disappointing, then I'd still go for it. You can always change later, which is easier if you're already in a job.

Did you get any other offers?
Did you negotiate the salary, or is it (presented as) a take it of leave it type deal?
Funny you should ask about other offers - just been told there has suddely been a place available for he civil service fast stream in HMRC. The starting salary is 29,000 rising to 49,000 after 3 years (outside london). I really don't know what to do - it's so unexpected! Was set on Deloitte, just thought I'd wait a few days in case I change my mind and then this happens!

I know salary-wise the civil service grad programme is definitly better than the big 4 especially in the first 5 years, but not sure which I'd enjoy more. From what I can gather the civil service is much much more chilled than the big 4 in terms of working hours and how much they demand from you. However, I've also heard at HMRC there is hardly anyone there who'd be my age (21, or 22 when i start) and the social life isn't great. I know deloitte do a lot of social events and there'd be many people my age which I think I'd prefer to work with.

Also on a side note, I know it sounds really stupid, as but as I don't have a girlfriend I feel like I won't meet people my age if I'm at HMRC because of suggested lack of social events and young people there. Obviously this won't be a big part of my decision but just thought I'd say it as a side note.

Both salaries are non-negotiable, so take-it or leave-it type deal

I have to let both of them know by next Friday at the latest!
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RogerOxon
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(Original post by iota0562)
Funny you should ask about other offers - just been told there has suddely been a place available for he civil service fast stream in HMRC. The starting salary is 29,000 rising to 49,000 after 3 years (outside london). I really don't know what to do - it's so unexpected! Was set on Deloitte, just thought I'd wait a few days in case I change my mind and then this happens!

I know salary-wise the civil service grad programme is definitly better than the big 4 especially in the first 5 years, but not sure which I'd enjoy more. From what I can gather the civil service is much much more chilled than the big 4 in terms of working hours and how much they demand from you. However, I've also heard at HMRC there is hardly anyone there who'd be my age (21, or 22 when i start) and the social life isn't great. I know deloitte do a lot of social events and there'd be many people my age which I think I'd prefer to work with.

Also on a side note, I know it sounds really stupid, as but as I don't have a girlfriend I feel like I won't meet people my age if I'm at HMRC because of suggested lack of social events and young people there. Obviously this won't be a big part of my decision but just thought I'd say it as a side note.

Both salaries are non-negotiable, so take-it or leave-it type deal

I have to let both of them know by next Friday at the latest!
I'd talk to Deloitte about how you prefer them, but also voice your concerns about salary. They may be able to tell you more about how they see it evolving.
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Oilfreak1
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(Original post by iota0562)
Funny you should ask about other offers - just been told there has suddely been a place available for he civil service fast stream in HMRC. The starting salary is 29,000 rising to 49,000 after 3 years (outside london). I really don't know what to do - it's so unexpected! Was set on Deloitte, just thought I'd wait a few days in case I change my mind and then this happens!

I know salary-wise the civil service grad programme is definitly better than the big 4 especially in the first 5 years, but not sure which I'd enjoy more. From what I can gather the civil service is much much more chilled than the big 4 in terms of working hours and how much they demand from you. However, I've also heard at HMRC there is hardly anyone there who'd be my age (21, or 22 when i start) and the social life isn't great. I know deloitte do a lot of social events and there'd be many people my age which I think I'd prefer to work with.

Also on a side note, I know it sounds really stupid, as but as I don't have a girlfriend I feel like I won't meet people my age if I'm at HMRC because of suggested lack of social events and young people there. Obviously this won't be a big part of my decision but just thought I'd say it as a side note.

Both salaries are non-negotiable, so take-it or leave-it type deal

I have to let both of them know by next Friday at the latest!
Civil service>>>big 4 in terms of prestige/long ter career
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iota0562
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(Original post by Oilfreak1)
Civil service>>>big 4 in terms of prestige/long ter career
I was wondering about this. I thought it may have been the other way round as everyone knows how hard people work at he big 4 ? Also I know if you're at deloitte for a while and become a Director you earn £130,000+, or even an Assistant Director gets £70,000+. Think it does take around 6-8 years to be promoted to AD though (providing you pass all the exams etc.).

One of the concerns (concern is too strong of a word) I had around HMRC was the long-term career prospects as I'm not sure what opportunities for promotion there are after you are initially promoted (after the 3 years). - not that 50k a year is bad!! Also I'm not currently aware of any accountancy tax qualifications that I would do at HMRC like the ones I would do at deloitte, so not sure how easy it'd be to switch to the private sector in the long-term?

Thanks everyone for commenting btw, really appreciate everyone's opinion.
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Oilfreak1
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(Original post by iota0562)
I was wondering about this. I thought it may have been the other way round as everyone knows how hard people work at he big 4 ? Also I know if you're at deloitte for a while and become a Director you earn £130,000+, or even an Assistant Director gets £70,000+. Think it does take around 6-8 years to be promoted to AD though (providing you pass all the exams etc.).

One of the concerns (concern is too strong of a word) I had around HMRC was the long-term career prospects as I'm not sure what opportunities for promotion there are after you are initially promoted (after the 3 years). - not that 50k a year is bad!! Also I'm not currently aware of any accountancy tax qualifications that I would do at HMRC like the ones I would do at deloitte, so not sure how easy it'd be to switch to the private sector in the long-term?

Thanks everyone for commenting btw, really appreciate everyone's opinion.
Hey, big 4 is amazing and yeah director gets decent money but fast stream is what it is because of exit opps can probably lateral into a B4 from civil service. Both are wonderful but if I had the choice i’d fast stream (banking/tier 1 strategy ambitions which might differ from yours)
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Princepieman
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(Original post by RogerOxon)
I'd talk to Deloitte about how you prefer them, but also voice your concerns about salary. They may be able to tell you more about how they see it evolving.
progression is pretty defined:

Associate = 1X base (obviously)
Senior = 1.3X - 1.5X base
Manager = 2X - 3X base
Senior Manager = 4X - 5X base
Partner = 6X - 7X+ base

base = starting salary.

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iota0562
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(Original post by Princepieman)
progression is pretty defined:

Associate = 1X base (obviously)
Senior = 1.3X - 1.5X base
Manager = 2X - 3X base
Senior Manager = 4X - 5X base
Partner = 6X - 7X+ base

base = starting salary.


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The progression in the UK is
Analyst
Consultant
Senior Consultant
Associate Director
Director
Partner

Partners normally get around 500k
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Princepieman
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(Original post by iota0562)
The progression in the UK is
Analyst
Consultant
Senior Consultant
Associate Director
Director
Partner

Partners normally get around 500k
for tax, sure.

and no, they get drastically lower than that when they get to partner then work their way up to that number.

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marupe
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(Original post by iota0562)
Funny you should ask about other offers - just been told there has suddely been a place available for he civil service fast stream in HMRC. The starting salary is 29,000 rising to 49,000 after 3 years (outside london). I really don't know what to do - it's so unexpected! Was set on Deloitte, just thought I'd wait a few days in case I change my mind and then this happens!
which stream is this?
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marupe
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(Original post by Oilfreak1)
Hey, big 4 is amazing and yeah director gets decent money but fast stream is what it is because of exit opps can probably lateral into a B4 from civil service. Both are wonderful but if I had the choice i’d fast stream (banking/tier 1 strategy ambitions which might differ from yours)
I've heard the opposite: that it's really difficult to get into the private sector from the public sector, even from the fast stream? Have you heard of anyone doing this?
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Zac05627348
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(Original post by Princepieman)
for tax, sure.

and no, they get drastically lower than that when they get to partner then work their way up to that number.

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Naa they start on a lot more than that mate, average salary for partner is about 850,000. If they start on 120k theres no way the average would be that high
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Zac05627348
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(Original post by marupe)
I've heard the opposite: that it's really difficult to get into the private sector from the public sector, even from the fast stream? Have you heard of anyone doing this?
I've heard the opposite too
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