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Anyone long on Etsy?
4 years next month
Additional Posts in Consulting
Waking Life. What the fuck.
What's the FSI strategy team like at KPMG?
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At PwC, raises were limited to those who got promoted. We’ve been told we’re getting bonuses, but we still don’t know what they will be relative to prior years (presumably lower) or what tiers will and will not get them.
Maybe PwC 5 but if waiting for news on your bonus is causing you to keep working hard now that’s just dumb.
Bonus is based on last years performance and has nothing to do with present day as long as you don’t get fired before payout. FY21 bonuses are going to be trash to nonexistent everywhere as we won’t have 3 quarters of normal economy in the bank to bump them up.
OP it's simply wrong that raises and bonuses are business as usual at other B4 and we are some anomaly. It's tough for everyone and we should be grateful we are working and employed.
I heard PWC is also lowering bonuses and has eliminated raises. OP you’re extremely ill informed considering how much info is available on here.
Promos get a pay increase this year
Deloitte laid off people, severely cut promotions and raises. Which big4 are you referring to lol
You inferred multiple big4 in your post. Why not say PWC?
EY:
> Raises only for those promoting (not progression years) but we’re expecting them to be minimal.
> No performance bonuses
> Little to no reductions in headcount, only reductions for performance reasons (not Covid).
The last point has been controversial - I.e. why are we funding entire teams / service lines on the bench when extremely busy service lines (e.g. myself) are still working 60 hours a week but not getting any bonus or recognition for doing so.
I’m with you. Very busy. Just started two new engagements on top of my existing engagement.
Good for KPMG! We’re out here in the trenches at D.
What are bonuses and pay raises?
Gotcha!
Idk that PwC is doing any better. Not sure where you got the idea that “other Big4” are doing well. They’re all making discretionary cuts and no bonuses (or planning on no bonuses if things don’t turn around or get worse)
Chief
EY isn’t paying out bonuses, and raises are only for promotions and compression cases.
Atleast we aren’t alone!
PwC bonuses likely only for Tier 1 & 2 (~25% of firm). General sentiment that performance management was a lot tighter this year people were pushed out this way (no “layoffs” yet though). I think all B4 is roughly the same spot.
I guess my point being, is that there are firms that are doing better than others. Your example is the best representative, your workforce is so much bigger than ours, and y’all still affording to do this, even if it’s way smaller than what’s normally expected.
So here’s the KPMG situation, and before anyone tells me that I’m ill informed or that we are on the same boat, I think you’re wrong:
No pay raises,
No bonus,
401k contributions lowered to extreme low, not optimistic it will ever be matched to the same level
Discussions for lay offs - I’m hoping cutting out low performers
Alternative working weeks, and hours cut
Potentially raises for those promoted but the cap has been set
Partner pay is been cut significantly
Whereas pwc is still getting fraction of bonuses and promoting people, I’m not hearing of their benefits being cut out, and they are so much bigger than our firm, so in my view, they managed their business better than we did.
My original question is how is everyone feeling about this situation 🤣
Also, I have confirmation that layoffs are definitely coming for low performers to assist with RIF. We over hired because of our pipeline pre-COVID, but the large majority of that work has been put on pause indefinitely, therefore, no need for that increase in workforce. Will start with low performing highly compensated people
No bonus and progression raises (only promotion ones) at EY this year
So EY and KPMG on the same list. What about D and P?
What about Accenture? Any insights?