Chief
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Can we all just pass on inventory counts this year
Can we get work permit to Canada without job ?
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This doesn't sound right to me
Just finished work. What’s everyone listening to?
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Someone works at or with PwC Experience Center?
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Last song you listened to.. go!
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Anyone else worried about their office plants?
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Is roomba s9+ worth it?
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P1: the offer is actually that straightforward. There's also a caveat that Firm-initiated separation (as long as it's not for cause, e.g., a layoff) triggers the 25k payment in full so it's also de facto insurance. If you leave before the 3 years or are terminated for cause, you get $0.
Chief
Yeah, it's quite obvious that you would have to remain at EY for the payout.
PwC does not give cash bonuses to Seniors.
This can be solved pretty easily with an equation (assumes 5k is invested at 5%)
(5000)*(1.05)^3 = 25000*(probability of leaving)
5788 = 25000*P
P = 0.23
Probably unnecessary to get to the ultimate point.. If you think there’s a greater than 75% chance you leave, take the money, otherwise wait for it.
EY5, thanks for the pls fix
EY6, yeah I chose 5% arbitrarily but it’s not hard to adjust based on expected return from the vehicle of your choice (2% for risk free, 7% for historical stock market return, 5% for corporate bonds, etc)
Only bank it if you plan on staying and don’t think you’ll get fired
This right here
Either the offer is more complex than you describe or EY needs a better Finance team
Enthusiast
Idk OP that seemed pretty obvious to me. But KPMG has a similar plan, just not as much $$$
What’s a bonus?
They eliminated our version of this like 2 years ago. pissed a lot of people off
What? For audit? Jus made S1 and haven’t heard of this
That’s awesome! We used to have one that if you deferred three years was 12k but you were eligible every year you were a senior. If you didn’t defer it was 4K. I recommend deferring if there really is insurance policy against layoffs. Then if you have to leave before it’s paid, negotiate it into your sign on bonus at the new employer. Mine came in handy this year as it happened to be paid out in a year of no VC so my income didn’t take as much of a hit as it could have.
Pro
Getting bonuses must be so nice. What a treat to get a few k just dropped into your check. Sweet.
Pro
It pays decently, but probably not as well as consulting or finance - that said, you start out pretty low. And it takes time to learn how to do it; most grad programs are two years. It’s fun, but you have to learn how to come up with big ideas that can stand up to a lot of scrutiny, and then you’ll revise them till you get it right.
NYC is the biggest market, but there’s other tiers in plenty of cities. Really depends on what you want.
I will say, the only reason I haven’t left this year is because my banked bonus pays out next fall.
I love my team, despite just rolling off a shitty project, holistically I really do like working for EY. I took the banked bonus 2 years ago because I joined a growing team doing really interesting projects! But I’ve been talking to a few friends at Deloitte and other EY people and I realize I’m SUPER underpaid. I’ve been pretty sour about it, but I will stick it out through my banked bonus, try to negotiate my salary up, or move. I haven’t decided quite yet.
All that saying, yes, I am happy I did it. The banked bonus will pay off all my student loans next year! So for me, it’ll be worth it!
OMG if I had that option I’d take it to shield it from my greedy ex-wife.
I had a friend do this at EY and is miserable on a project from hell waiting for 8 more months to get his 25k so he can quit. It’s not worth it, the freedom to leave when you want is power
Chief
It IS worth it.
Nothing worth anything is ever easy.
Forget that! Get the money up front.
Pro
I took the 5k. Used the money to help close on a house. Then dipped EY.
I’ve got the same offer now and I’m trying to weigh my options. Which one did you choose and are you happy with your choice?
Cost to hire is real, as is lost chargeability at certain levels; it’s worth it to firm. It’s a mutually beneficial offer and similar to a stock grant, which you’ll get acquainted to as you move up.
Enthusiast
You better hope they honor it in three years when your time comes.
Pro
Wtf