You are currently viewing Entry-level pay rates have plummeted as company reveals how much graduates earn

Entry-level pay rates have plummeted as company reveals how much graduates earn

A prominent Australian TikTokker has explained why millennials are turning their backs on corporate jobs, as one of the country’s biggest professional services firms reveals how much its graduates will take home this year.

Salary data released by Deloitte shows that graduate audit staff in the 2022 program will earn just $61,000 per year.

Next year’s crop of graduates can expect to earn just $2,000 more.

Camera iconDeloitte has released its entry-level salary brackets for Audit & Assurance (A&A) and Consulting. Credit: Provided

Managers in certain fields and industries will receive salaries of up to $220,000 per year or more.

But the figures were criticized by prominent TikTokker, who called the release a “PR disaster”.

“Working at a ‘Big 4’ consulting firm is not a normal job,” the woman, known as ‘Gowokegobrokeaus’, told her viewers.

“They basically demand that you dedicate your life to them.

“They make their graduates work 12 to 14 hours a day and they pay them $65,000.”

TikToker Gowokegobrokeaus criticized the pay rates which were made public by Delolitte.
Camera iconShe compared the rates to ‘modern day slavery’ in a video posted on the social media platform. Credit: Provided
TikToker Gowokegobrokeaus criticized the pay rates which were made public by Delolitte.
Camera iconAussie TikToker Gowokegobrokeaus criticized Deloitte’s publicly published pay rates, saying the graduates’ salary of $61,000 was not enough for the job they were being asked to do. Credit: Provided

The woman called it “modern-day slavery” because graduates were charged “$2 to $300 an hour.”

“And how much do they pay them – $20 an hour? Tell me how it makes sense,” she said.

“That’s why I hate big business and why people are walking away from big business in record numbers – because they realized they were being completely ripped off.”

At the high end of the scale, senior analysts in the audit division can earn up to $81,000 a year, while administrators on the consulting side can expect to earn $190,000.

Deloitte Australia’s director of human resources, Tina McCreery, said the company had a record number of applications and acceptances this year, with more than 35,000 applications and 1,200 acceptances so far.

“We have an 87% first-year graduate retention rate,” she said.

“We have a good track record of retaining graduates at least for the early years of their careers and, in many cases, for the long term.

“If they leave the company, it’s usually after developing a core set of skills to pursue a career in industry or to return to university for further education.”

Ms McCreery said graduates typically reach the highest standard within one or two years.

“Salary for these roles typically starts between $65,000 and $75,000. Steady opportunities for career progression continue throughout a career at Deloitte,” she said.

Asked about evidence that graduating employees were happy with their salaries, Ms McCreery pointed to the large number of awards – including AAGE Grad Recruiter of the Year, AFR GradConnection Most Popular Internship and third in the AFR GradConnection list of Top 100 Employers – Deloitte had received.

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