{ "media_type": "text", "post_content": "Got promoted to senior but did not get a raise to go with it. Firm keeping salaries flat this year due to COVID-19, but I was shocked when I found out promoted staff wouldn’t be getting a raise either. To me, this whole thing rings hollow because the firm has told us multiple times that they were projecting flat growth for the year when compared to last year (which was one of the best in firm history). So it pisses me off that they shot their mouth off about how great year last year was...cont", "post_id": "5efccebbd801d9001abf8c60", "reply_count": 57, "vote_count": 8, "bowl_id": "5e6fe1c31f5e51001d267e46", "bowl_name": "Coronavirus Work-life" }

Got promoted to senior but did not get a raise to go with it. Firm keeping salaries flat this year due to COVID-19, but I was shocked when I found out promoted staff wouldn’t be getting a raise either. To me, this whole thing rings hollow because the firm has told us multiple times that they were projecting flat growth for the year when compared to last year (which was one of the best in firm history). So it pisses me off that they shot their mouth off about how great year last year was...cont

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But at your company OP was this open knowledge? It wasn’t as big a deal to me because I knew ahead of time and they had been so transparent with their rationale and so was just happy to be recognized

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They kind of set us up for it about a month before they came out with it. The tune changed from what a great year it’s been to emphasizing flat growth and nobody needs to worry. Then one day we find out low performers got the boot and there are no raises, but projections of firm health remain the same?

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3 things to do: discuss with them how to be compensated. because right now, with a promotion, you’ll be expected to do more work at the same pay. they’re making out like bandits. whether it’s money or some other thing, work it out. get in writing if they do plan on giving you a monetary raise in the future. otherwise it’s lip service. use this new title bump to find a job at that level elsewhere. don’t tell the new place how long you’ve been at this new title. don’t tell them what your current pay is. tell them what you’re looking for.

likesmart

To be honest, a lateral move in itself would be a raise even if I made no more money (obviously I do want more money) because I wouldn’t be working public accounting hours.

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Then said this year is projected to be flat growth (which to me means another good year in terms of projection), and then said “ope....no raises this year, CoViD hApPEneD”. I understand the pandemic situation, but don’t brag about the strength of the year we had and then stiff us on the raises, especially those who were “promoted”. People worked hard to give you that great year. I think it’s BS to have a raise system that looks backward at performance and then when it comes time to pay the piper, you cry foul and say oh we need to be looking forward now.

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Hey, if you are being promoted to Senior then you have been around a few years to notice how PA works. A flat year in terms of growth is a good year From a Top line perspective. However, we have a constant influx of new talent. Even with the August starts moving to January, the number of new starts in 2021 is probably 500 or so. That is a big $$. We could have rescinded offers I suppose you could say, but then who would work on your jobs? How would you advance? I know it’s hard, but I do believe if performance is better than plan that the firm will do the right thing. It sounds like you really just don’t like public accounting, however I would question your ability to advise a private company on financial strategy since you have trouble getting perspective on this. How would you advise your future private employer in a similar situation as a financial analyst? Give raises and cross your fingers? Also, if you trust your supervisor, I would let him or her know how you are feeling so they can help get you placed with a good fit outside the firm. Good Luck!

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Out your company

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Very large regional, based in MI.

Yeah in the same boat, which is why I’m applying to jobs and interviewing around. Sucks but the only choice we have is to leave and find a job that we are happy with

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Agreed, I have been applying for 2 months because public is not compatible with what I want out of a career. Trying to take my time and be choosy about where I go next, but they’re making it hard. The only thing positive about the promotion is the resume booster it gives me for my job hunt this summer/fall.

What gender are you?

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I know! I wish I had that kind of time to set it as a side hustle! I would start with writing a book “250 lame excuses you hear at work to not promote you and what they really mean”.

Is it Plante Moran?

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I will neither confirm or deny, however it is a very large regional firm based in MI

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Which company? 👀

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Very large regional. Based in MI

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https://youtu.be/KV-GJ9iNX8g

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So true

OP- seems like there is something else that bothers you other than the absence of salary increase as you’ve mentioned you have been thinking of leaving even before this happened. Is it the office culture? The work load? Was it more like “well at least we gave you a promotion.” Kind of attitude coming from the top? Whatever it is, i would start searching rather actively if i were you cuz ur current position seems like its not working for u (which is not your fault).

smart

I understand that completely. I know that it is hard to switch service lines at my firm, so I think if I am forced to take that road, it will be elsewhere. Which I hate the idea of, because if I am forced to be at a PA firm, I really think my current firm is the best fit - culture wise

Merkle is also not giving raises with promotions until 2021, at least they were very open about this/other levers they pulled to prevent having to furlough/lay off people, and at least twice a month they check in to te us how the company is doing and how that impacts their ability to bring back these levers. I think if someone wanted to turn down a promotion they could, but ultimately you will then get to your next promotion faster so why would you when long term you will make money/tbh our jobs are safer staying at Merkle vs trying to jump ship right now.

Yes, if my job was in danger, I totally would understand not getting a raise. But when the firm is touting that firm financial performance is going to be consistent with last year, then I’m not so understanding any more.

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Makes incredible business sense for the company (though I don’t personally agree with it): charge you out to the client at your newly promoted level; pay you at your ‘old’ / ‘existing’ level. If client asks for discount (more likely now), you get written down to your old chargeable level. I know a few firms doing that.

I totally agree with you - it’s a very s***** and selfish thing for companies to do - shows how tactical they’re being, and putting protection of partner profits above their workforce.

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Thinking to buy a nice automatic watch for the upcoming promotion. Any recommendations?

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