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Read the small print Advisory brethren your salary will be reduced by the amount of time you take off, not sure about you but this seems like a foreshadow to eventually justifying reducing pay for underutilized resources or eventually leveraging paying current resources less than fair market value #staywoke
There is a chart that lists what percentage of salary you get based on the number of weeks you take off (for example, a leave of 8 weeks results in getting 87% of your pay for 26 biweekly pay periods...if you take 16 weeks I think the pay is something in the mid-70% range). Your PTO accrual and retirement contributions go down, too, based on how much time you take. But benefits do continue so you are covered in the event of injury, etc. Normal rules apply regarding employment on-the-side — still need to disclose and get approval. This is being billed as a perk, but is a way to save on the bottom line by reducing salary expense. Word has it they’re hoping a lot of Assurance people do it after busy season ends — when the work slows down — so they aren’t paying people to be on the bench. Have already had one RM try to push it on a Coachee for next February when she has no work lined up yet. On the bright side...you get your life back and can *truly* unplug so you don’t have to worry about check-ins or any of the other weekly crap we have to do.
🤦♀️
It is with pay
More importantly, if you take this, and then quit before the next 12 months are up (for full salary reduction to go in effect), do you have to pay anything back?
Deloitte 6: Don’t think so. It’s an immediate salary adjustment. Uncle D would probably be happy if someone quit to save on salary expense
Maybe recession is looming and this is how D plans for cost cutting without having to fire a bunch of ppl. No sane company would give benefits to employees without making sure that it benefits self first lol. Looks like we are at the tail end of a boom cycle :).
Yeah BCG does this, it’s called Time for You. It’s a nice program, but not a differentiated perk OP.
A good question to ask is how this impacts someone’s career trajectory. Personally would love to have the ability to say ‘hey after this engagement ends, I’m taking the next two months off.” But that might not look great in a year end for someone going for M/SM. It seems more like an option for mid-career types without families who want more flexibility. Also, let’s get real, this is a baby step to making everyone defacto gig workers.
Holy shit OP ain’t lying
Does advisory not have sabbatical
We’ve had sabbatical programs forever, this might just be OP who thinks this is news
Sabbatical, buy more PTO, etc. same thing everywhere...
Sounds like a sabbatical...
It is not with pay. Not exactly
How is this only advisory? It says all Deloitte and touché llp professionals
Where did you hear this?
Looks like I missed an email
Fake
It’s only for Advisory?
OP - How much tenure at the firm is required to use it
This sounds pretty sweet