Pay hikes by Big Four firms put pressure on smaller accounting practices
Smaller practices are raising entry-level wages by up to 25 per cent this year
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SOME of Singapore’s smaller accounting firms are raising entry-level wages by up to 25 per cent this year, in response to similar hikes by some Big Four firms.
When large players raise salaries, smaller firms must follow suit – or risk losing out in the war for talent, small and medium-sized practices (SMPs) told The Business Times.
“Mid-sized to smaller firms, we are the price takers,” noted Bernard Lee, founder and chief executive officer of Audit Alliance. “The Big Four are the price-setters.”
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