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That's not accurate
You are paid more than you are worth already. Stick around for a few years and once you start making actual contributions to the firm, pay will be better for high performers.
Higher performers deserve to get higher raises. With that said, first years are at a level where the workload is highly commoditized and non specialized and the top performers aren't adding significantly more value to the firm than the mediocre performers. Because of the nature of the work, they're both adding about the same value to the firm. Pay disparities are based on value add. Employees who provide measurably more value to the firm get higher salaries. Once you get to a higher level the differences in value really become apparent.
Unfortunately it is true in the West!
"Last year"
It's a generational gap thing. Partners and HR thought they could sneak it past Staff, since "no one talks about salaries." The systems is a way to lose top talent while keeping salaries low. EY HR is probably the most incompetent of the big 4, they couldn't even get the new system implemented until October.
Yeah the system is messed up. Have an above average rating on the scales shown? Too bad, take the same raise as someone way below. Here, take $100 in RACs to compensate. The RAC thing is frustrating because seniors are more involved with the staff daily. Seniors don't give RACs. So really it seems a senior would have to go out of their way to let a manager or sr mgr know. And if the seniors aren't aware that our "better raise" is paid through RACs, the whole thing crumbles. Team size also is a huge factor. On a huge team with not a lot to go around? Oh well
To be quite frank, I know I'm leaving after I put about 3 years in so couple that with a flat raise and I don't feel bad at all for not putting in that extra effort
Because the exit opps after 1-2 years suck ^
It didn't work out as intended (e.g. not perfect) but differentiation for high performers was intended to be paid via bravo award. Your counselor was instructed multiple times to reach out to others. Additionally, the firm compared feedback via 10 degrees to the bravo payout during each review cycle.
Is this true for the southwest region also who kept the rating system? Will 5s get the same as 3s?
Not true. My raise was as much as 8% more than some of my peers last year after our first year
Well that's a damn shame if they're gonna pay the staff 1 all the same this year
Pwc does this
Interesting. So they expect the differentiator to be achieved through rac awards? That's low ...
^That attitude won't get you very far in life. If you look at one thing most successful people have in common is that they have a great work ethic and commit 100% to whatever they choose to do. Why wait around 3 years giving minimal effort and just enough to skate by? Why not find another job that does excite you that you can commit 100% to? Just some good for thought.
^Then commit yourself fully while you're there. You're only hurting yourself by giving a half asses effort.