Does everyone receive their raises and bonuses in March, or does it vary depending on your company?
Also are promotions scheduled for certain months during the year?

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It definitely varies depending on the company. For example, at Deloitte, raises/bonuses and promotions only happen once a year in late August/early September.

At GT raises/bonuses/promotions happen August 1st. All depends on your firms fiscal year

At CLA, raises and advancements occur on November 1.

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