Graduates joining Deloitte Singapore as auditors will have a starting monthly salary of $4,100 from Sept 1. First-year hires joining the firm under its FasTrack programme – Deloitte’s accelerated audit career programme for accountancy graduates – will have a starting salary of $4,500.
The move is in support of the Accountancy Workforce Review Committee set up by the Ministry of Finance on May 10. It also stems from the government’s plans to strengthen the attractiveness of the accountancy sector and grow Singapore’s pool of skilled accounting professionals.
The adjustments translate to an increase of up to 20% for these graduates’ annual salary packages.
Including these salary adjustments, the total investment made by Deloitte to nurture audit talent within their first five years within the firm will amount to around $62 million. According to Deloitte, the investment includes auditors’ professional qualification courses as well as training courses and modules to equip them with future-forward skills such as generative artificial intelligence, data analytics, and sustainability assurance.
“Accountancy is the language of business and finance, and it is integral to Singapore’s role as a global financial services hub and its ecosystem. An auditor’s key duty is to report on the integrity of financial information of organisations. This protects the public interest as it strengthens and reinforces the trust and confidence in financial reporting,” says Shariq Barmaky, country managing partner of Deloitte Singapore.
“There has been an imbalance in recent years, where interest in an accountancy degree has waned as undergraduates explore emerging fields of study, such as new technologies and environment and sustainability, even as the demand for auditors is increasing given that businesses are transforming to meet the changing needs of today’s marketplace,” he adds.
