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True or false? I still do this....
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So basically...all subjective
not entirely subjective, very significantly driven by utilization % at the staff level
Well first off the partners decide how much they want, the rest is portioned out based on some antiquated process that places a rank on you by people you have never met, presented by a person called a counselor who may or may not real give a shit
Who do you think owns your firm k2
Second year associate looking to make Senior but pulling the plug on AU and not meeting revenue goals makes me worry about promo decisions. Thoughts on how Advisory promos are looking for the year?
OP, EY's post is overly pessimistic just work hard, have a good relationship with your PML, and stay utilized and it will work out. Good work has been well rewarded across everybody I know in my 4 years here
as in ~85% of your raise / bonus will be driven by your utilization. on top of that the success of MC and Advisory as a whole dictates the size of the pie
No more rankings, it's not based on partners.
As a first year associate, it's all based primarily on utilization. You will get the average raise for your average year (even if you rocked), based on ranges that they announce at the beginning of the year. Second year, you get to differentiate yourself and get a highest percent of base. It's driven by how the firm is doing and how well the practice is doing but mostly it'll be in the ranges communicated at year start.
Did you get a transition coach? If not let me know ill link you up with some great ones for questions like this
I think they will be less than usual but if you're utilized and crushing it I wouldn't be worried
It does depend on your partner FYI so if your partner and line of business struggled this year you'll receive less then those who killed it. It does really depend on utilization at the staff level
I don't think promotions are going to be affected... They need us to have higher billing rates. But I've heard that bonuses and raises are not going to be great this year 😔
Promotions are being reduced since they have to pay you at the higher band. Promotions themselves are practice dependent, since it's a matter of ratio, bill ability and percents. Overall, not a good year for anything