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Firm comp strategy 101:
- Raises and performance pay are based on last year's results when it has been a bad year.
- Raises and performance pay are based on expected results for next year when last years results were good.
True story.
Deloitte had the same except with layoffs. Plus they are the only B4 with no mandatory partner pay cuts.
We had layoffs as well, just focused in advisory
LOL it's us
Well I have no idea but if it’s a 1% sales increase and everyone got raises last year net income might be down like 5%? Still doesn’t make sense for pay cuts though!
That wouldn’t make much sense. I was thinking the scam is the other way around. They announce lower sales growth to justify frozen salaries and significantly lower bonus pool. But what they wouldn’t disclose are the margins or the bottom line because, after cutting on expenses like meals, entertainment, rent, other overhead, travel, salaries, benefits, etc, the firm is taking in close to what they were targeting. Idk just my two cents
Umm US pwc partners took a pay cut from fy19 to FY20 and another one from FY20 to FY21. So DT is kit the only firm that partners took pay cuts.
Big 4 are all trash rebranded with a different logo.
If that's what the Big 4 did, BDO will follow. Those who know, know BDO.