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Old 20.08.2007, 19:50
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Anyone works for the big 4s in Zurich?

Hello everyone,

Recently I've got a job offer as entry-level consultant from one of the big 4s in Zurich. I have postgraduate degree in the UK but don't have any previous work experience in the finance industry.

On my contract it mentioned that the annual salary would be circa 80k, accident insurance covered by the company, pension scheme, training etc.

But no relocation package has been provided (I'm currently based in UK), nor joining bonus, interest-free loan, allowance for health care, gym membership, etc, which are commonly seen on the offers here.

I'm just wondering if the one I've got is a standard package for entry-levels in big 4s in Switzerland. Any chance to negotiate on it?

Also do they tend to work overtime a lot there? I don't speak any German or French - would this be a big barrier for me at work?

Lots of concerns... any help would be much appreciated

-Hinano
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  #2  
Old 20.08.2007, 19:55
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Re: Anyone works for the big 4s in Zurich?

Consultant what , exactly ? I have heard of entry-level consultants working for the big 3s or even the big 2s, but not the big 4s. More information is needed.

dave


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Recently I've got a job offer as entry-level consultant from one of the big 4s in Zurich. I have postgraduate degree in the UK but don't have any previous work experience in the finance industry.
to negotiate on it?
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  #3  
Old 20.08.2007, 20:08
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Re: Anyone works for the big 4s in Zurich?

Consultant in Tax
Which are the big 3s or 2s btw?
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Old 20.08.2007, 23:22
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Re: Anyone works for the big 4s in Zurich?

Deloitte Touche Tohmatsu | Ernst & Young | KPMG | PricewaterhouseCoopers

soon I hear to become the Big 5 with an upcoming merger.

But your question is so damn vague that the answers will be vague.
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Old 20.08.2007, 23:33
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Re: Anyone works for the big 4s in Zurich?

If by entry level you mean trainee (or "Young Talent" ) then around 80K is the going rate.

If you are going to consult on tax in Switzerland I'd guess you won't be generating income for some time - got to learn the ropes and all that.
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Old 20.08.2007, 23:44
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Re: Anyone works for the big 4s in Zurich?

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Deloitte Touche Tohmatsu | Ernst & Young | KPMG | PricewaterhouseCoopers

soon I hear to become the Big 5 with an upcoming merger.

But your question is so damn vague that the answers will be vague.
Why is my question vague?

Just want to know what the standard package for graduates are like in these companies...

In the UK more benefits would usually be included (sign-on bonus, loan etc), whilst the one I got from Switzerland doesn't seem to have all these - is this normal?

Thanks.
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Old 20.08.2007, 23:53
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Re: Anyone works for the big 4s in Zurich?

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If by entry level you mean trainee (or "Young Talent" ) then around 80K is the going rate.

If you are going to consult on tax in Switzerland I'd guess you won't be generating income for some time - got to learn the ropes and all that.

Thanks swissbob. Yep I figured as much - will have to learn the swiss tax system from scratch...
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Old 21.08.2007, 10:10
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Re: Anyone works for the big 4s in Zurich?

OK! First, dont listen to people telling you "how young" anyways, to work for one of the big 4s. (I currently work in one of them) I can tell you that you are making more than enough, people here actually start in the 70s to 75k.
I hate this, but none of them want to pay a rellocation package. If I were you I will try and get at least some money for moving your stuff. For example, tell them to reimburse you for renting a truck and bringing your stuff here.
I believe that what they are paying you is more than enough for your level.
If you have no experience, believe me! Those suckers are paying you to really "learn".
I took the pungle, I was working in Boston for a year, and took a job here. One of the best decisions Ive ever made (so far ). Good luck to you!
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Old 21.08.2007, 11:14
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Re: Anyone works for the big 4s in Zurich?

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Why is my question vague?

Just want to know what the standard package for graduates are like in these companies...

In the UK more benefits would usually be included (sign-on bonus, loan etc), whilst the one I got from Switzerland doesn't seem to have all these - is this normal?

Thanks.
ok, no signing-on bonus, pay is less than banks, management might get a parking space and a half-price card for the public transport system. You might get a credit card without monthly fee and ...... that's about it.

If you were more specific, someone working for the same company might pipe up. Like the company and what "consulting" you'll be doing.
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Old 21.08.2007, 11:22
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Re: Anyone works for the big 4s in Zurich?

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I have postgraduate degree in the UK but don't have any previous work experience in the finance industry.


But no relocation package has been provided (I'm currently based in UK), nor joining bonus, interest-free loan, allowance for health care, gym membership, etc, which are commonly seen on the offers here.

Maybe that's me, but I don't think there are many institutions that would pay a joining bonus to someone with a grand total of zero hours in the industry.

Interest-free loan???? Not even banks do that.
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  #11  
Old 24.08.2007, 23:34
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Re: Anyone works for the big 4s in Zurich?

Hmmm...seems as the big 4s or whatever pay less than others....Entry consultant in companies such as McKinsey, Boston consulting and Accenture----104000 CHF per anuum with many benefits...have 2 friends who just entered there...lots of work of course and overtime not paid but definitely many benefits in the forms of courses, reka checks, etc...
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Old 25.08.2007, 02:50
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Re: Anyone works for the big 4s in Zurich?

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If you were more specific, someone working for the same company might pipe up. Like the company and what "consulting" you'll be doing.
I'd like to be more specific but given that my company only recruited very few ppl this year for the position, the last thing I want is for my future boss to find me ranting here already...


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Maybe that's me, but I don't think there are many institutions that would pay a joining bonus to someone with a grand total of zero hours in the industry.

Interest-free loan???? Not even banks do that.
Well at least in UK many companies do. Deloitte/PwC in London for example both offer £7k interest free loan to graduate with zero experience. I'm not familiar with the Swiss system so had to compare with the ones in the UK, but from the replies I think I've got a rough idea now.
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Old 25.08.2007, 02:56
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Re: Anyone works for the big 4s in Zurich?

I agree. For entry levels, consultancy companies tend to pay at least 15% more than big 4s almost everywhere

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Hmmm...seems as the big 4s or whatever pay less than others....Entry consultant in companies such as McKinsey, Boston consulting and Accenture----104000 CHF per anuum with many benefits...have 2 friends who just entered there...lots of work of course and overtime not paid but definitely many benefits in the forms of courses, reka checks, etc...
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  #14  
Old 25.08.2007, 03:02
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Re: Anyone works for the big 4s in Zurich?

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OK! First, dont listen to people telling you "how young" anyways, to work for one of the big 4s. (I currently work in one of them) I can tell you that you are making more than enough, people here actually start in the 70s to 75k.
I hate this, but none of them want to pay a rellocation package. If I were you I will try and get at least some money for moving your stuff. For example, tell them to reimburse you for renting a truck and bringing your stuff here.
I believe that what they are paying you is more than enough for your level.
If you have no experience, believe me! Those suckers are paying you to really "learn".
I took the pungle, I was working in Boston for a year, and took a job here. One of the best decisions Ive ever made (so far ). Good luck to you!
Thanks MAR25 I did try to negotiate on relocation but was only offered temp accommodation. ah well...
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Old 27.11.2007, 17:59
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Re: Anyone works for the big 4s in Zurich?

I personallly just got a contract offer for a similar position in Zürich in the m&a department of a big four. I am entering at senior level with 3 years of xp behind me. The total package is around 125K with other stuffs like pension fund, health insurance, a blackberry, etc...
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  #16  
Old 27.11.2007, 18:29
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Re: Anyone works for the big 4s in Zurich?

Hey,

I do not work at one of the Big 4, but I am a graduate at one of the Pharma companies and 80k sounds about fair, I started on a little less but got a moving allowance and bonus so all in all probably equal. Compare this to the UK and its really good anyway.

You def wont get any interest free loans, as mentioned earlier you even have to pay for credit cards here unlike the UK where they throw money at you (when i graduated one company offered me £10k on a credit card even though i didnt have a job) never going to happen here!! Temp accomadation is good, especially uf you are in ZH as its quite hard to find accom there. It easier in Basel.

I would say your work life balance would probably be better than the UK, I know mine is compared to my friends in London.

Anyway I think its a good deal and a great opportunity,
Good luck!
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Old 27.11.2007, 18:33
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Re: Anyone works for the big 4s in Zurich?

I have been working with one of the Big Four since March 2004 and I've never heard of any of the "perks" you mention being offered to entry-level staff. The salary is very good for a starter and to be honest, you should be able to arrange things on that. If you have trouble paying for relocation up-front, contact HR and ask them what their experience with such issues is and whether they can help.

Things like being offered a gym membership is unheard of, but some firms have their own in-house gyms. Health insurance is actually quite reasonable compared to other countries and it does cover all the essential stuff.

Overtime varies, at the start you shouldn't have too much but it can and more than likely will occur. If that's a problem for you, maybe the Big Four is not the right work environment for you, to be honest. However, you should not be confronted with the "80 hours a week or bust" mentality of New York law firms, it all depends on how you advance.

The language, well, we tend to have most things available in English, but it is a good idea to make use of the language courses you will more than likely be offered.

Finally, if I can give one word of advice that will be useful for the rest of your working life - be nice to the assistants/support staff. A lot of consultants aren't and they come to regret it fairly quickly.
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Old 27.11.2007, 18:43
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Re: Anyone works for the big 4s in Zurich?

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a blackberry, etc...
You consider that a perk?? they've been trying to make me sign for one of those for 6 months now and I've been stalling them. "The Man" wants to turn you into a 24/7 corporate slave... resist!!
I often chastise my colleagues for checking their damn Blackberrys whilst out drinking, bowling, eating etc.. no doubt they're even composing their monosyllabic emails on the john It sickens me to think that my manager may have asked me to prepare a Q4 summary whilst doing battle with his innermost demons
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Old 27.11.2007, 18:49
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Re: Anyone works for the big 4s in Zurich?

Yeah I thought that. Sucker.

dave

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You consider that a perk?? they've been trying to make me sign for one of those for 6 months now and I've been stalling them. "The Man" wants to turn you into a 24/7 corporate slave... resist!!
I often chastise my colleagues for checking their damn Blackberrys whilst out drinking, bowling, eating etc.. no doubt they're even composing their monosyllabic emails on the john It sickens me to think that my manager may have asked me to prepare a Q4 summary whilst doing battle with his innermost demons
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Old 27.11.2007, 20:16
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Re: Anyone works for the big 4s in Zurich?

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<blah blah blah>
I heard you work for one of The Little Three, Kittster

The packages will vary from firm to firm; the perks depend on your level of employment; most firms like this will give you a free credit card as they often base their perks around their engagements (and their charging/expense models for those engagements).

Presently, the financials are famed for paying top whack at the moment; after that pharma and after that the rest.

And a Blackberry is not so bad; mine turns itself off in the evening and turns on again next day. Our policies support a good work-life ethic
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