Curious with this 3.5bn investment by EY in raising starting salaries by about 10%. I started EY audit in 2015 NYC and my starting salary was 57k. My senior 1 salary was 75k and my M1 salary was 108k (early promote so I made less than an M1 on normal track)

If any EY associates can weigh in what the new projected starting salary id love to hear it.

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My numbers looked similar to yours but I started 2018 in the Midwest. Our first year associates in Chicago make 75k (wild to me), and I believe big 4 makes ~5% more than mid market like bdo.

So back of the napkin math means that new hires in Chicago would be making 86k to start. And it's probably 10-15% higher than that in New York due to significantly higher cost of living, meaning a new hire could be pushing 100k, which is actually insane.

I'm guessing I got something wrong though so please someone correct me because it's depressing that a new hire in new York is making almost as much as me as an experienced manager in Chicago

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I'm around 125k

Is EY Audit different than the EY Business Consulting side? I was making $105k as a Senior 1 at EY Consulting in 2023.

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Yes. Very different

EY tends to be on the lower end in most markets. So this will probably put new hires 2-5K higher. Not a meaningful number and probably it will just mean weaker raises in the 3rd-6th years. It's a marketing gimmick.

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I don’t think putting 10% of your 2023 revenue into something like this is a “marketing gimmick”.

You don’t just pour money into associate $$. You’d have to adjust the upper bands too. So your notion that future years would normalize into their current-payband would be incorrect. Though I agree, EY is typically below the other 3 in salaries.

Are Audit salaries are starting at 75k? At Kpmg as of 2021 they were still just above 60k

I started in 2022 at 70k. Most people my age that started at other firms were 65-70k same year

yet their senior associate salary starts 88k… way lower than all B4

Cutting back promotions of upper level staff so they can “invest” in junior staff. Sounds like a great business initiative

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