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I think you are confused on terminology. Any sort of promotion bonus is just that, a one-time payment because you got promoted. But that isn’t all you get when you are promoted. You also get an additional base salary increase in addition to your standard merit increase that year. For my office, the standard senior promotion base salary raise is 8% which is added to whatever they were going to give you for merit that year.
I can only speak for KPMG but I would be shocked to learn that newly promoted employees aren’t getting raises above and beyond the standard for that year.
EY is set up the same, although they don’t disclose exact amounts/percentages as far as I’m aware
@EY1 KPMG is the same. I found out the “standard” from a loose-lipped partner.
Does anyone know the standard rate bump from Senior to Manager at EY? Also, what is the range of new Manager bonuses?
Promotion to sr is a 5% base bump and manager/sm is a 7% base bump so my increase in the m promotion yr was 15% (8% normal + 7% promotion)
Is this true of other firms? Aside from bonuses there's an additional increase in base salary for being a senior aside that is given to a regular year more at the firm?
Agree with KPMG1
My total increase was only 9%...
EY2 it could be different at EY but at my firm there is no standard bump. There is an acceptable salary range for each level and depending on firm economics, performance, years of service, etc will determine where you land in that range.
Pretty sure EY is the same—there are salary bands for each level, and your raise is designed to put you in the appropriate band.
The promotion bonus to audit manager in the FSO is $5K. No range, unless you count Bravos