Hi there,
A quick Monday morning update on two big four stories in today’s The Australian Financial Review.
The first, by my colleague Hannah Wootton, Deloitte facing staff rebellion over 'unfair' junior pay (paywall), deals with life as a junior accountant at Deloitte. It seems there is some dissent in the ranks over the pay that the new grads (starting next year) are set to earn compared with what the current grads are pulling in.
So far, the reader reactions seem to be split between (a) ‘you’re lucky to have a job’ and (b) ‘this is why I don’t work at a big four’. It’ll be interesting to see the impact a bit of transparency has on the pay rates at the firm, and in the wider market.
The second story is a scoop by my Street Talk colleagues Sarah Thompson and Anthony Macdonald, EY grows revenue, but not as much as rivals (paywall). EY’s revenue is now a record $1.89 billion but growth has fallen to 6 per cent. That’s the extent of operational transparency in Australia (these are private partnerships, after all) so no indication on what this means for partner profits.
That’s it for now. Let me know what you think about the content, the frequency, the tone, whatever really.
Yours,
Ed.