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Wouldn't surprise me. It has served its purpose and run its course. Plus millennials aren't incentivized by $. They would rather have the firm plant trees and tell them bedtime stories about "diversity".
@PwC3, I'll soon be up for Manager and am a millennial. A part of the reason I've stayed is because I'm looking forward to promotion and the incentive. They JUST decreased the amount of the payout last year so to eliminate it pushes me, and a few others, out the door.
@PwC 3 idk what millennial crowd you run with but I'm all about the fucking money
PwC 3 is Tim Ryan
Oh for crying out loud. If they do that I’ll be switching to the other B3 for my manager promotion. At least I’d get a boost and a signing bonus.
I'm with GT
PwC 2 is destined for senior manager with bullshit like that.
Told from half a dozen people before starting, raises average 8-12% for average performer. Reality? 5-6% for an above average rating. Told would be working on client sites often. Reality? Never leave the office just eternal “remote” work from my cubical. Told would be sent to in-class trainings several times a year. Reality? They decide that’s expensive so training is now all remote webex crap that no one ever leaves you alone to get done since if you’re at the office you’re clearly available to work nonstop. Told about how used to have after busy season parties, now a days they’re lucky to spring for a round of bowling, held after working hours end, and they won’t even buy the beer. Now no promotion bonus for sticking with them?
You’re missing the point. The point is these are the things they gush about that make PA worth it / better than industry. I’m happy with a 3% raise living stapled to my desk if that is what was promised, ie industry, and I entered into the contract expecting it (and where there are other advantages like say much better hours or higher base salary). The angst comes from people promising one thing, delivering something totally different, and then coming back with arguments like yours to justify the fact that they lied.
The firm does not give a shit about any of us, retaining or not. I keep telling my fellow seniors this but none of us seems to get it.
I appreciate the advice but it really doesn't fix the fact that we all work for this bonus for our entire careers and is being taken away for no reason other than a fatter margin. There are other areas we could cut before this and if the partners were really concerned with retention they would make rational, noticeable changes. I understand it's a tough business environment but they keep coming out quarter after quarter telling us about our results being good and we're winning all this work. I haven't seen the benefits and I think most of my colleagues at my level and below would agree.
PwC3 has clearly never had an honest conversation with someone under 30.
Right there with ya. This will be my promotion year to manager and if this is gone so am I.
I would highly recommend you make a list of pros and cons of your current work situation at the firm. And then from the list of cons/frustrations as you describe them, identify areas YOU have a control/say over. You will realize you have a lot going for you. I have never come across a single discussion/meeting where we are all trying to screw you people and not interested in retention. Also - I know for a fact that PwC salaries are higher than Big 4 averages. No one is stopping you from taking the lead in organizing happy hours and team events. Its rarely a matter of watching budget - almost always a function of time at hand. We all do give a shit about you. You just also need to want to make Partner and have a sense of ownership of the firm/practice you are a part of. See something you don't like? say something to a Partner.
Heard from some Chicago HR people when I was there last week.
There was just a business insider article this week about how millennials care more about money than anything else when looking at jobs
I thought i got screwed over with bonus decreased from 25% to 20% in my promotion year. would be mass exodus if timmy eliminated it altoghwr
My entire career at PwC has felt like the firm dangling promises in return for soul crushing effort and then whisking them away with a “just kidding!” Right before they’d have to pay up. I’d meant to stay in public, but with this kind of crap becoming standard I may just have to abandon ship to industry like the rest.
^ive been here >8 years and never had this feeling? Examples?
Wait.... you're barely performing above average, are getting 5-6% raises (compared to 2-3% in industry) and you're UPSET about that? All the other stuff I guess just varies person to person. I am almost never in the office. On the other side, I'm sure some people love being there every day and hey, the offices are at least pretty nice.... as for off site training... really? The training you get in B4 is leaps and bounds better than anything you'd ever find on private. You're complaining bc you don't get an all expenses paid trip every time you need to get trained?? YE parties, again, depends on client not sure what to say there if you're not experiencing that must just not have a great client set.