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Bonuses reflect growth, not base salaries. I will keep repeating this to get past this understanding. Base salaries reflect the market demand for skills and experience. Not inflation. Not firm growth. Just the market. I fully agree that transparency and communication has been poor this year. But don’t get worked up about base salary raises not being reflective of growth/success/revenue. That’s a bad argument to make or get frustrated about. Get frustrated if your bonus doesn’t reflect your contribution and firm successes. Have that conversation in person, not here. Ask constructive questions. Get a greater understanding of what goes into it.
Most of the PLA leadership that I’ve talked to and been in discussions with really do care about the people. My understanding is that the issues are with the BCG EC and our leadership’s inability to move the needle with them. Convince your coworkers to blast the hell out of the people survey, because if you look at the results, a majority of people are “happy” with their comp, so the ECs data point is most people are happy, why do a market adjustment? I won’t deny the the PLA leadership messaging has been a hot mess this year, and they need to up their game though.
I do not agree with you. We are entitled to our own opinions. In my own limited understanding and knowledge, I can confirm that our base compensation has become equivalent to or even less than what our peers make in Big 4. If feel good getting a paltry raise at the end of this year, I am happy for you. In terms of the bonus, we shall see how it spans out to be in the next week and we can then put your statement about bonus driving growth to test once the numbers come out.
Maybe? I guess so. I think that’s the way I understand how we approach things. We have similar (some higher, some lower) base salaries than our competition (or so I am led to believe by FB discussions both within this bowl and others), and then more lucrative bonus and whatever you’d classify PSRF contributions as. Even Classic base comp is pretty “static”. Before this year, I don’t think it had changed much over the last several, and when it does, it is in direct response to competition (eg, better offer acceptance and better retention).
A couple of things: 1. Our base compensation is relatively in line with Big4, but bonus and PSRF makes it not even close. A Deloitte SM is making 15-30% bonus whereas PLA P nets 25-50% bonus plus 10% PSRF. An AD makes more than most Deloitte MDs let alone PLA MD comp. 2. I think the bigger issue is why would we not make our compensation significantly higher than Big4 so it plainly obvious that it is better here in every way shape and form. while comp is based on market rates and not billable rates, our bill rates and margin is so much higher than Big4 even at Platinion where “we can afford it”, and we just did a massive rate hike for our group earlier this year. Feels like a very simple fix we could be making that would keep people and help them believe that everything about this place is better than where we came from. It is frustrating indeed
Other firms are paying 50-60 k at the manager levels compared to PLA.