Thoughts? I don’t think Big 4 will actually follow through. Deloitte also said they would make up for the lack of raises last year this year. Do you think they did?

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likefunny
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They’ll raise compensation to a level more competitive only when every other option has been exhausted

likesmart

I don’t think they will actually raise comp but they will keep promising it, let these rumors spread, etc to get people to stay just a little longer.

likesmartfunny

Nice! Is that just for taxes? Do you guys know the amount yet

For those of you that think the B4 firms will change their ways, I have one word for you:

India

The long term deleterious effects of overleveraging outsourcing notwithstanding, enough partners have been brainwashed into believing India can make up for the shortfall to make a significant across-the-board comp raise all but impossible.

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Most of my team mates hates to do that but the firm forces the business to do so. All because the labor is cheap there.

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what is “cheap international labor”, Alex?

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@EY 2. They will. I just worked on an RFP where I was the incumbent on a single work stream (RFP was for my work stream + broader stream) The expressed their severe disappointment in not working with US personnel directly from the other incumbent (like ever) on the broader scope that PwC wasn’t doing.

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PwC was hyping up raises this year too and they were really underwhelming. However from looking at outside roles the typical increases at my level were more like 15-25% over my current (post raise) salary, not like 100%. I'm changing LOS and expecting around 35% increase

likehelpful

I’m a senior and I have had 1 associate under me since I started for like 3 months. Other than that it has all been India. As much as I hate it, the outsourcing strategy appears to be working. We may have a very hard time though getting associates to stick it out and the quality of associates will most likely be much lower.

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Who does the review when you get promoted to manager or leave the firm?

Seeing is believing. Don't fall for the dangling carrot lol

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Cool, maybe I’ll come back when the comp is good

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I dont think this is going to happen. Maybe raises would be higher slightly then before, but definitely not competitive with good industry offers.

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He is accepting notes.

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💲For those who DON'T think a six figure salary is possible:

👉Just ask for it. Really, you would be surprised. Might be easier to switch to a new company and ask. I did that 3 years into my career.

And 🛑 wasting your time at a company that under-values you severely. Sometimes switching companies every 2 years or so will allow you to keep raising the bar for yourself.

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