KPMG Advisory London?

#1

Hi all,

Is anyone else starting in KPMG Advisory London in Sept/Oct 2010? I received my contract and, to my surprise, the salary is the same as audit - 26.5k :frowning: which is strange, since one would expect Transactions&Restructuring / Investigations&Disputes trainees to work longer hours than Audit and be challenged more intellectually.

#2

hey :slight_smile:
I’m starting in Advisory Risk and Compliance technology, havent received my contract yet so not sure how much the pay will be… how long did you receive your contract in after the initial call?

#3

Hey! I suppose you will be based in the Farringdon office then? I received it about 2-3 days after the call- KPMG send you log in details to an “Offer Zone” in which you can review the offer and contract - have you received those details yet?

I mean, I don’t think 26.5k is bad- I’m pretty glad I’ll be working for KPMG, as they seem to have the most enjoyable culture out of the Big 4 (at least in my opinion), but I was hoping that advisory would be rewarded a bit better… :slight_smile:

#4

I’m not sure you could legitimately argue that one set of graduates are going to be working harder than another set. I’m doing audit in London and will be working the same amount of days, the same amount of hours (officially) and training towards an accountancy qualification as well. So why shouldn’t we get the same salary as you? To argue that you are going to be challenged more intellectually and as a result deserve better pay is a bit of a joke. Your pay isn’t directly proportional to how intellectually challenged you are by your job! On a side note, have you conducted an audit before? If not, how can you make the claim that you will be more intellectually challenged in advisory and rewarded for getting into the advisory with increased pay,In addition auditors work in varying locations and will spend a lot of their time away from home or travelling (out of office hours) so naturally that should be considered as well if you are comparing salaries. It comes across that you think advisory is superior to audit, when both are important arms of KPMG. £26.5k is an excellent starting salary for a post graduate, especially in this economic climate. I think its fair to pay all London graduates the same. Nevertheless congratulations on getting the job at KPMG, it seems like a great company to work for.

#5

I was told two weeks ago that I’m going to be made a formal offer but am still waiting for anything to come through. I’m just wondering if the delay is because they are dealing with April starters as a priority in the graduate recruitment.

Still it is pretty frustrating as I fully expect to accept KPMG if/when they make an offer but until they do I will have to keep going to other interviews.

#6

Have you tried phoning them up? Sure they would be willing to help/let you know what stage they are at!!! May be in the post and just delayed but wouldn’t hurt to find out and it’ll put your mind at ease!!!

Lil.x

#7

Thanks Lil,
I have already contacted them, I was just surprised that someone who is working in more or less the same department has been sent the details of their contract already when I’ve been told I have to wait.

I believe it’s all pretty much done online, except for the final contract part so I can’t blame the posties!

#8

jl7039, I have rejected an offer for advisory from KPMG; therefore my comment may seem irrelevant. However, I can assure you Advisory is going to be much more challenging than Audit. For Advisory stamina is very important… While auditing you will have periods of long hours; for Advisory this is a norm on a regular basis. In terms of intellectual challenge; I believe both are same. Whatever department you are with; you have to perform to a very high standard. This may be a bit difficult for the Advisory guys with lack of sleep. Having interned for two investment banks’ M&A/Corporate Advisory division; I can say that first year M&A analysts are broadly ‘Confidential Data Entry Clerks’…

Nemra, I agree the compensation package is a bit of a downer. Take the offer work very hard; and at the same time apply to (BB) IB-M&A/DCM/ECM next September. You will have a better chance of getting in and by the time you join you will also be part-qualified ACA (none of the IBs offer the ACA for their advisory analysts programme). RBS pays the most with the first year package believed to be around 46k + 10 k joining bonus ;-). Other banks pays around 40K + variable joining bonus.

#9

Calm down chaps.
Auditing in first year. Pay £27,500. You work 8 months and you are in college 4 months (well 3, 3, 6 and 6 weeks). So gross salary for working an equivalent 12 months is £41,250. Costs for your first year training and exam entry is circa £3k (maybe more) and firm pays those for you.
Fast forward. After 3 years auditor has ACA qualification and the world is his oyster.
Does the Advisory do ACA or a different qulification and how much study leave are they on?

#10

“Does the Advisory do ACA or a different qulification and how much study leave are they on?”

I have asked this exact question yesterday at KPMG Advisory workshop (although in Czech Republic). They have two weeks of study leave and the qualification choice is upon them (you have to choose them yourself and then discuss with your manager - tell him reasons why this one course/qualification). Furthermore you can negotiate with your manager to pay you other qualifications, but again, you have to have good reasoning.

Afterall I think auditors have a lot better conditions when it comes to this…

#11

Could anyone please advise me?

I applied for Transactions and Restructuring in Leeds and have been called for the first interview. However, if I do eventually get the job, I’d prefer to work in a large office, London particularly (or somewhere close to London), where I can work with larger clients and a very busy environment.

How easy is it to transfer from the Leeds office to London (London Satellite)? Also, what are the pros and cons of applying through Leeds?

#12

@ Littlelegs

Thanks a lot for the info.

Could you also tell me about the KPMG offices near London? In my application it mentions ‘London Satellite’. What is it like working there, in terms of hours or size and volume of deals?

Thanks

#13

Hi Ali,

You will find it very difficult to move offices until you have fully qualified, they ask you in the interview why you are applying to the office and expect you to be able to commit do a decent amount of time there. You won’t be able to get the job and then just move offices as it doesn’t work like that. Leeds KPMG hired you and Leeds KPMG will pay for your training, so they will be mightily annoyed if you ask to try and move as soon as you get the job. And don’t take this the wrong way but, who is to say London offices would want you? They have their own recruitment and may have filled all the spots?

You may have to reapply next year if you are serious about not wanting to stay in Leeds.

Good luck in your interview! If it was me I’d just stay in Leeds for my training then head down to the big smoke once qualified!

#14

Hey Jezzyf,

I appreciate the way you have explained things to me. Thank you very much for this insight. I now understand much better how it works and this makes it easy to make a decision.

I was just about to ask to interview for a position somewhere outside London, but I’ll not take any chances. While I love London and would hate to live my friends, I’d put having a job I actually like first. I guess the next thing I have to do is to figure out how to answer an interview question why I chose Leeds.

Once more, thank you! Have a great week.

#15

Greetings!

I had my first interview for Advisory - Risk & Compliance on Monday, therefore a quick question:
How long did you have to wait before they let you know whether you’re coming through to the AC?
I know it’s only been two days so far, but needless to say - I’m pretty nervous:)

Congrats on your offers!