{ "media_type": "text", "post_content": "Partner said that we will likely not have any raises this year. Anyone hear anything similar in their group?", "post_id": "5e6d35941a8bcc00284daab9", "reply_count": 23, "vote_count": 7, "bowl_id": "564a5cdb94887803001dd07c", "bowl_name": "Accounting", "feed_type": "crowd" }
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Partner said that we will likely not have any raises this year. Anyone hear anything similar in their group?

likefunny
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Leadership will use any excuse they can to avoid increasing worker pay

like

I can’t imagine this is true simply bc the outpouring of vitriol would be too much for even Timmy to bear.

like

I’m hoping this is not the case. Seems a little extreme

likehelpful

Sounds like 1 partner’s opinion. Given the way comp is set, I can’t see that reaction happening this year. Even 08-09 recession waited until 09 before they froze pay. If partner comp goes up or even stays the same this year, I would be surprised. Will be harder to get admitted over the next few years, and partners will have to start dealing with the fact that they held headcount steady through a billion dollars of top line growth. That means even if we hit hard times and lose work, the current headcount has some ability to absorb it.

like

Tim wasn't the chairman then, don't hate on our robot overlord!!!! 🤖🤖

funny

The timing is bad since it happens in June and this thing will be still relevant then. I would be surprised only cause this isn't as bad as the 2008 crash since the market conditions are a byproduct of the issue at hand rather than the root cause. Honestly I don't see the no raise thing happening, it's basically telling people to move to another big4.

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Don’t think it’s really an excuse. Could argue the market overreacted, but there is no doubt this has a negative impact on business and the economy worldwide

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I am in a role that is privy to a lot of leadership discussions and I have not heard anything like this

like

Heard similar around my office as well, not the "no promos" talk, more in line with "harder to get a promo with current scenario"

likesmart

That seems like a premature thing to say.

like

I haven’t heard that / don’t agree with it

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My practice group revenue is up 8 percent YTD purportedly so I call bull.... Barring a recession any of the other big 4 would offer more so I can't see them go 0.... Screwing us for less than we're worth though... Timmy doesn't do that 😂

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We are under plan for the year and there have already been some expense cuts.

Exactly - last company I worked for ALWAYS set unrealistic growth targets so they could pay out bonuses at 80%

The comp was complete bait and switch compared to what I was offered.

Management never provides any transparency on their targets that determine bonuses

They should press pause on DA program before going no raises or bonuses. Staff in the program are hardly generating any revenue for the firm (with certain exceptions)

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