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What are raise amounts or percentages per year?
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5% cap on all promotions this year, firm-wide. People that aren’t promoted will be getting 0%. It’s not normally this way but this year it is due to extreme economic uncertainty.
Local office webcast and have many people from other offices around the country confirming the same thing.
5% is almost 3x what KPMG did for promotions back in 2008/2009.
I wold agree with that. There were staff with 1-2 years making the same as new hires in 2010. I think they received a few %s down the road, but nothing to write home about. Definitely were not made whole for missing 2 years of raises.
SOX made a few golden years for all firms & made quite a few partners who wouldn’t have made it otherwise. Of course, KPMG also had the DPA to contend with in the years before the financial crisis hit.
Deloitte was 3% raise 2009 for "doing great" equivalent and 0% 2010 regardless of promo. That was the firm standard but they would occasionally make exceptions but very rarely. 2011...promo to Manager was 10% (game changer equivalent). This was for deloitte tax in major city.
I already had my promo discussion