Ernst & Young (2 Viewers)

[Meads]

As far as I know corporate tax has been sorted it out. But other groups may differ.

 

[jase_]

Tsk tsk... that's why they took wireless cards away from undergrads

Wireless cards? What cards? . We don't get wireless cards . I'm in the office a lot, so yeh, I meant using it there

 

[perfectionist]

How many people do they tend to take in for Vac? and once they are offered positions, how many more get through the graduate recruitment at EY?

 

[apprentice63]

I was just wondering if anyone knows how much Partners earn. For example, how much a partner would earn at one of the 'Big4', as well as in a Mid-tier firm!
Thanks in advance

 

[lil_star]

Jase do EY have SameTime ...i.e. the IBM Lotus SameTime...=D??

 

[Minai]

I was just wondering if anyone knows how much Partners earn. For example, how much a partner would earn at one of the 'Big4', as well as in a Mid-tier firm!
Thanks in advance

Partners can earn anywhere between $200,000 to multi millions per year

 

[oz_rocker]

lucky folks! they get more than our trainee salaries per month! Good on em! gives us something to look forward to!

 

[pottsy44]

Partners can earn anywhere between $200,000 to multi millions per year

yea id say most are just on $200,000 bases and the rest would be bonuses + incentives + shares.

 

[turtleface]

yea id say most are just on $200,000 bases and the rest would be bonuses + incentives + shares.

according to a 2005 survey, the equity partners at big 4 get base salary before bonuses of $500,000+ (though some people disagree with this)
Also I don't think there are such things as shares because they aren't companies.

 

[jon0_o]

they are companies, just not listed companies ... so in terms of shares, they don't have traditional ASX listed shares but I think they mean just a share of the profits, rather than part of the company which you can sell off.

 

[jase_]

From my understanding, they are a limited liability partnership (LLP) made up of several private companies. So, while Ernst & Young by name is a partnership, there are a number of companies registered under that name (like Ernst & Young Services P/L which is the one I work under).

 

[Minai]

yea id say most are just on $200,000 bases and the rest would be bonuses + incentives + shares.

In fact the average earnings for a partner in my division at Ernst & Young is about $700,000 (quoted from a staff meeting held a few weeks ago).

 

[pottsy44]

In fact the average earnings for a partner in my division at Ernst & Young is about $700,000 (quoted from a staff meeting held a few weeks ago).

is that 'total remuneration' or 'base' though? bc if you add all of my factors in you could easily get $700,000 total remuneration or more or whatever depending on many factors. ie experience, time in the position, etc.

 

[oz_rocker]

hey i wouldnt mind that much! i gotta raise me some equity!

 

[turtleface]

they are companies, just not listed companies ... so in terms of shares, they don't have traditional ASX listed shares but I think they mean just a share of the profits, rather than part of the company which you can sell off.

As Jasee said, they operate a "service trust" company (i think its for employee payroll and stuff to save on things like tax), but the actual firm is not a company.

In the UK, US etc they are LLPs as Jasee said. I dunno about here, its all a bit confusing. Accounting firms aren't allowed to incorporate along with law firms, but recent changes in legislation allow the Audit divisions to incorporate under strict conditions (but in reality noone really has)

There is one big accounting company, Investor Group, which is ASX listed, but thats sort of like a big holding company with many subsidiary firms which aren't companies (I don't think)...its all too confusing for me)

 

[lilou]

hi everyone!! who on this thread is currently (or recently) a trainee at Ernst and Young? Anyone about to start next year as a trainee or graduate?
This thread is amazing, wow, 74 pages!! (unfortunately I haven't read it all yet! lol)!
I just thought it'd be great to hear from people who are about to start like me...or who have excellent advice for us newbies!!
Post away or pm me if you have anything to share!
Thanks!!

 

[oz_rocker]

Im starting next year!!! horray!

 

[jessiiii]

I'm starting next year too =)

 

[addz]

hey minai..i think i'm your summer vac buddy
haven't posted here for ages..but yea..remembered your name
lol

 

[lilou]

Im starting next year!!! horray!

jesiii and oz_rocker....are you guys starting as graduates or trainees?

which divisions will you be in??