Hi,
My wife works in EY assurance and she got promoted to Manager from senior 3 this month. She received her new compensation letter few days back and she got only 7.5% hike and her new salary is 115K. What is the general salary level for EY assurance manager ? Should she express her disappointment and ask for more?
As an ex-EY employee, I can tell you that asking for more now is not going to be of any use. Best she can do is to kick ass the next cycle, have early and often conversations with he counselor, have monthly checkins with her practice lead/partners, and ensure she’s on the radar. That would put her in a better position the next go around.
Congrats on her promotion!
First off, congrats to your wife on her promo!
As far as promo comp, your wife was promoted mid year. The pay increases are broken down into two components: promo % and performance/market %.
All promotes get 7.5% regardless of new promo level. For the mid year promotes, they only see the promo % until the end of the fiscal year (June 30). At that point your wife will also get her performance/market %. That will be on top of the 7.5% she already got (which is a good thing since a % of a bigger number equals an even bigger number).
Your wife should reach out to her Talent or People lead for an explanation on this since it sounds like this is news to her. She can also ask them to explain which quartile she falls into in the manager salary band.
TLDR: as a mid year promote she needs to wait until the end of the fiscal year to get the full pay bump. Ask the Talent lead about where she falls in the pay band.
In my team agile promo (Jan promo) = 7.5%. You’re made whole in the August cycle
Yes, third to confirm during agile promotion, you get a very small increase. But when August comes, with market adjustment she should see a pretty significant increase. For reference, my salary only increased by 7k when I got agile promo to manager. When Aug came, that was increased another 15/20k. Tell her to sit tight for now. And congrats on the agile promo. They were super hard to come by this year.
Agile promotion only gets a standard 7.5% promotion raise now. The market and merit raise will be added in August. I am assuming it will be at least another 7.5% on top of this
Assurance is lower salary-wise than the rest of EY. The promotions take longer, etc.
It’s a solid salary though. I agree with the person above but maybe she can ask HR to do a salary assessment to see where she is in relation to her peers who have the same rating as her.
Location? I got agile promoted in consulting the standard hike for off cycle promotion is 7.5% you get the rest at year end
She should find a new job
As former Big 4 MD the best she can do is update her LinkedIn and post every internal and external event she attends to as Manager to promote herself, Recruiters from other Big 4 and other companies are always on the look to poach for new Managers since they are low cost proven material. When she gets a new offer she can either negóciate a counter offer or leave. That happens at every promotion level for about 30% to newly promoted Managers and above.
Only get promo raise (7.5%) in January. The market raise happens in August
How many YOE?
That 7.5% is policy across the board for any agile promotions. There will be an additional raise (or should be) in the regular promo cycle.
I made 133k as a senior at pwc. She needs to pivot to another big4 as a manager