Mid year promotion is now available to Tax at PwC. Can anyone give a brief overview of what it would entail? E.g would there be a pay rise/bonus/rating & when would the be effective?

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Had a webcast for RLs yesterday...there would be a promotion raise effective 1/1, and a performance raise effective 7/1 (with bonus based on the performance tier and paid in September). No tiers/ratings will be given at this time, it will be done in the annual CRT with everyone else

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Also...the purpose is not to do a full CRT at mid year, so the potential promotion candidates are only a select few. Mid year promotions would be for people who were ready for promotion at 7/1 but not yet credentialed, experienced hires who just didn’t have enough time/snapshots at YE to demonstrate readiness, etc.

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On the assurance side, your year end CRT is against your group at the end of the performance year. So if you are an experienced associate promoted to senior at 1/1, you will be in the senior pool with everybody else during CRT in May. No special groups for newbies, so likely to get a 3 unless you had a stellar spring

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Thank you! Just a quick point - would your CRT performance tier then have you compared against your peers at your promoted staff level, disregarding the performance at your pre-promoted staff level? As this would obviously affect Bonus/Performance Raise..

Hmm good question. Not sure of the answer but they’d have to find a way to make it fair. We typically compare first years in a role as a separate population (so 1st year seniors get a distribution of tiers 1-3, then 2nd and 3rd year seniors get another distribution).

Assurance already does mid year promos so maybe someone knows this answer already.

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