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I would tread carefully, they lost a lot of talent recently, but this could be good for making the money work for you.
You’ve got three types of folks there: 1.) people not talented enough to get jobs elsewhere 2.) people who are so senior it behooves them to stay 3.) idealists who think the acquisition by a PE firm will be same or better.
A lot more people will be living come July 31 when their benefits vest.
D1 is not correct. There’s a wide range of work - and a lot of “commercial” people who moved from PwC to Newco. There is no rub on the PwC name, as the use of PwC PS is permitted. It’s also required until we announce our new name. Our recruiters are very candid with this - if they are not, please speak up. In terms of charting your own career, my recommendation is to have more conversations not less to find the best fit for you. At a minimum, you walk away with some new contacts in what is really a small world.
Typical Deloitte response. Always sure; only sometimes right. In the wrong here.
D1 knows what’s up. Avoid PwC public sector. That place has unfairly treated their staff for a solid 3years now at least. Everyone I worked with over there hated it. It was quite sad. Tough to come to work and hear complaints all day. It’s good they are departing from the main firm because they stopped being PwC when they became their own entity like 2-3 years ago and now it’s just official. D1 got out and moved to a better opportunity. Don’t fault him for that and sharing some thoughts as he closes the door behind him.
You got me good P3. I guess those commercial transfers or “commercial” as you put it. Which is comical since we were always treated as 2nd class in comparison to the main firm, are no more than a few directors and mangers because, wait for it, they don’t want to travel. I have yet to meet anyone that is staff who wanted to transfer into that hell hole. I’d lie my ass of to especially after looking around 1730 and realizing the whole PS is top heavy. The only part of that firm that provided any opportunities to grow skills was HSLE or DoD work but, that “flexibility” that we were told about. Is nothing more than a lie and they try to pigeon toe you into your vertical. Pretty hard to swallow more kool aid when you over hear our great “leadership” talking about all accounts understaffed and it’s becoming hard to fill positions. It’s also hard to come to work when you get none of the benefits of a start, which is what this is now, it’s also hard to have drive when the new “owners” refer us as “the smartest group they ever bought”. I guess I should fell in line and heard myself like the castle you wish staff would be. All in all, if someone wants to work there to make others richer to be sold within another 5 years. Go for it
Honestly I would watch if anyone is trying to go into that mess. They are putting jobs up saying they are pwc. Why? You are already not being honest and that is a deal breaker for me. Besides since the commercial people are gone, they are mostly bidding on pmo work. If you like that stuff, knock yourself out
Some solid banter here, P3 in the lead.
Thanks for all the feedback!
SC1 - I think that’s wrong - 401ks vested on day 1 (although we don’t have access to our accounts until June 1 i believe)
^ typical management response
KPMG1- extremely high range of bill rates. Your good authority is a few folks on a few contracts. Unless it’s partners, and even then, they aren’t clued in vertical to vertical, account to account, contract to contract
Definitely feel like I did!
All the best to you and the rest of PwC as you shape your market presence after buyout.
What benefits are vesting come July 31? Are you talking about bonus?
I am certain that 401K is 100% vested regardless of years of service to keep people onboard through the acquisition. I suspect certain key folks also received retention bonuses that will expire at a later date.
I just left. 401k was invested on day 1
Fair enough. Honestly before the sale I was exploring a move but never went through with it. These salaries are making me think twice but it sounds like it’s blood money now.
Haha it’s not blood money. There will be turnover, there will be changes. It’s the same work that any large gov contractor is doing, but you can definitely be a part of building a new brand and company. Also... the removal of personal and firm independence requirements is definitely a huge boon to personal sanity, and potential additional work
You guys always talked about independence requirements but I think you’re vastly underestimating how little it affects staff. Short of influencing the work we could win and altering the projects I would be assigned to it means very little.
If you don’t think the ability to team with more companies, and drive more revenue based on teaming relationships is connected to your role, you probably made a great decision in going to work for someone else.
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