Has anyone successfully negotiated their contracts in the Big4? If so, how did you do it and how did it go? I’m an S1, will get my raise in October... BUT… The market is hot right now, and I can leave an make more— but I would like the opportunity to stay and them bargain with me to stay since we are short staffed. Again, I understand I can leave, so don’t make that comment. Any insight or advice is welcome. KPMG EY PwC Deloitte
Yes. I asked for more. Went well.
Never ever attempt/accept counters from existing firm
Untrue in this environment as we are in a war for talent at the moment
If you think you can get a better offer elsewhere (extremely likely) I would put out applications and then bring an offer letter and ask them to match it. It would be more effective than asking for a raise without anything to back it up. You’d probably have to be willing to leave if KPMG doesn’t give you the raise you want though with that method.
If you have an offer that is good enough to make you leave, they won’t match. The gap will be too large. Salaries are very restricted, even for high performers.
How well would this work for someone who is 6 months into their new gig? Tried negotiating before but said that I’d be up for a raise on October. If my raise in October is going to be small I’m going to be disappointed.
Not well.
I'm in the same boat and interviewing at a competing firm. I'm not even done interviewing but I told the recruiter early on that I wouldn't accept below X amount (it was 25K over my current salary) and he said they'd go above it. I plan to get my offer letter soon, which most firms will require in order to give you a counter offer. I'd strongly sleep on whether or not you want to accept a counter offer though. More often than not they'll just lower your raise next cycle.
P1 - I kind of see your point, but if your base goes up 25K, then they’re still giving you a % increase on a larger base. 2% raise of 185K = 189K, but 5% raise on 160K = 168K. After a year you’re still making more than 20K at the competing firm. How long until break even? Many, many years.
(1) Get a competing offer and then turn it down. (2) several months before year end raises are effective go to your partner or director and show him/her the offer and explain “I love it here and don’t want to leave. I’m not coming here to threaten to leave - just to let you know that my market value is this amount I turned down to stay here, and I’m asking that when raises come out my comp be raised to meet market value. I don’t know if I will leave if that’s not the number I see when raises come out, but it will be harder to stay knowing you are OK with paying me less than we now both know I’m worth just because I care about this place. “
(3) wait until raises come out.
I’ve done this three times in my career and received the raise I asked for every time without ever being disloyal or threatening to leave.
+1. I think everyone takes the hostile match or I’m leaving. If your a high performer, this is how the conversation should go. If the offer is reasonable ( which it likely will be from other B4) then this is a professional way to handle it.
My market lead partner told me they don’t counter when I brought two better external offers. I transferred to another service line 6 months later where the compensation is remarkably higher
In retrospect, I should’ve looked into switching firms instead (faster than transferring). Happy that I got to stay though (Big network)
May I ask what market? (For a friend ofc) Lol
I did. Worked for me.
Show up with what you want. If your good they won’t let you leave. Everyone is paying for talent
Do you think that countering before getting the job will work right now too? Staff 2 position? I only asked for 5k more.
They’re probably going to tell you no but you’ll get that 5k back in bonus + raise. But it also depends how much they liked you, if you’re a high performer at previous job, how bad they need people. Goodluck nonetheless.