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@M1 you exemplify why Deloitte has become so pathetic - there isn't a team anymore just a bunch of people who only care about winning regardless of what it costs others. It showcases the sad new world at Deloitte. Today it's all about self entitlement - from the newer PPD's to the BTA's. Years ago when they were faced with lower demand the Firm elected to forgo incentive comp, raises and increased Partner payouts to retain talented staff for when business picked up. When it did they made a bundle - more than they would have saved with staff reduction.
The people I know who were let go were low performers who weren't good for business. Nothing wrong with cleaning house. And they fully funded AIP - I'm much happier trimming some fat and getting MY full bonus, thank you very much.
Ridiculous? Of course. Surprising? Nope. 😒
Don't hate the player, learn to play the game
The partner model is supposed to be about absorbing risk: eat the losses in bad years but reap outsize rewards in good years. Of course, things never really work that way in practice
It's a business not a family. The firm will always do what is best for the partners as you should always do what is in your best interest, don't get butt hurt and make it personal.
Deloitte isn't a welfare state lol it does w/e it wants
Keep on bitching. Perhaps if you work harder you can make P and enjoy the benefits at some point. Vast majority of P's have put in years of hard work and long hours to get there. Nobody got there by whining.
I'm just glad there is a post with another firms dirty laundry rather than ours
They own the biz of course they are going to pay themselves first
Staff are getting killer bonuses. So stop
Also D14 they're not posted yet. You don't know how much your getting officially.
We had a great year revenue and profitability wise. S&O is not a great market for Deloitte right now, so we restructured how we do business. Heavier focus in tech, lighter focus in S&O.
It's not just partners getting bonuses...all of consulting is getting their bonus in SO...they are even given payouts to high performing Non bonus eligible staff.
Oh, and we pay out staff comp and bonuses before distributing earnings to partners, so there is a lot of BS in the comments above.
We did do what is best long term. 15% was only in S&O, and not to mention turnover was low this year which exacerbated the problem. Deloitte had to force the lower performers to leave. Trimming the fat is a strategic move. Retain the talent you want to keep, cut the rest loose.
Where'd you hear that from?
In a recruiting pitch about a month ago, they told me they actually expect partner pay out HIGHER this year.
Other companies go thru layoffs to keep the stock price up. Same principle. Whoever has the gold makes the rules
Partners gotta feed their families