{ "media_type": "text", "post_content": "Know this is mainly USA discussions but for anyone in the U.K., has there been any indication if promotion salaries will be cut? For reference, I’m an senior going to an assistant manager (exam dependent) . I fear that they will cut the starting salaries for assistant managers", "post_id": "5ef9d7c623b479002a11c510", "reply_count": 7, "vote_count": 2, "bowl_id": "599b9d5f9970bf0010772e8d", "bowl_name": "Audit Bowl", "feed_type": "bowl" }

Know this is mainly USA discussions but for anyone in the U.K., has there been any indication if promotion salaries will be cut? For reference, I’m an senior going to an assistant manager (exam dependent) . I fear that they will cut the starting salaries for assistant managers

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Deloitte has deferred pay increases upon promotion i.e. you can still get promoted but the extra salary doesn't kick in for 6 months. Apart from that no pay cuts except for partners

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Wow. We haven’t had communication about this yet but suspect this might be the same case. That’s almost 5 grand in salary lost and the expectation is you work the same long hours

Most of the talk has been on delaying those promotions as of now. I haven’t heard of any firms actually cutting pay “permanently” but it is likely the inflation aspect of your raise will be cut by quite a bit.

Smaller local firms have frozen pay rises. So you will get the title but not the pay bump. This has meant loads of people move to other firms.

Happy to say this is not the case at PwC, exam dependent promotions go ahead as planned, and also salary increases go hand in hand with that. What they have deferred is manager, senior manager and director promotions, and also in-grade salary increases for qualified staff. But none of this impacts junior staff at all.

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