Ernst & Young LLP (EY Singapore) announced, on July 1, that it intends to invest $100 million over five years to enhance its talent development programmes and improve the attractiveness of professions in accounting.
This investment includes an increase in early career compensation, the launch of EY SCALE and enhanced learning and development opportunities. EY SCALE is a new management associate programme that offers a diverse range of career exposure and pathways.
“The accounting profession plays an enduring role in helping to build trust and confidence in capital markets and businesses, and contributing to the talent pipeline for industries,” says Liew Nam Soon, EY Asean regional managing partner and Singapore country managing partner at Ernst & Young Solutions LLP.
He adds that the investment signals the long-term value and importance of the accounting profession and the company’s commitment to grooming the next generation of accounting talent.
Enhanced early-career compensation
As part of a total awards package that recognises the value of a certified public accountant (CPA) career path, EY Singapore will increase early-career compensation.
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Effective July 1, new first-year accountancy graduates joining the organisation will receive an average starting salary of $4,300.
This follows recommendations provided by the Accountancy Workforce Review Committee (AWRC) aimed at strengthening the attractiveness of the accountancy sector and growing Singapore’s pool of skilled accounting professionals to meet industry needs, as per their report released in May 2024.
Launch of new management associate program, EY SCALE
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EY Singapore has also announced the launch of EY SCALE, a new management associate initiative open to individuals with less than two years of experience.
The latest addition to learning and development programs at EY, this two-year program provides select individuals with opportunities to rotate to different service lines, and broaden their exposure to various industries and businesses.
“EY SCALE will allow them to develop a diverse set of skills and appreciation of professional services, which will help them to shape their aspirations and future career options. This cross-pollination of experiences will also help us develop high-performing talents that are inquisitive, agile and well-rounded,” says Liew.
Renovation of EY Singapore office
Aimed at helping employees provide better client experiences, the EY organisation has since renovated its Singapore office to create an inclusive and sustainable workplace environment.
The newly renovated EY Singapore workspace features sustainable floor materials, UL GreenGuard gold-certified furniture, Singapore Green Label-certified construction material and water-efficient fixtures to reduce environmental impact.
“Through these initiatives and investments, EY Singapore seeks to continue to be a beacon for top talent, supporting accounting professionals as they progress in their careers,” concludes Liew.
