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Passed my last CPA exam!! 🎉🎉🎉🎉🎉🎉🎉🎉
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They are stockpiling cash in preparation for the cut in fees coming next year, obviously. No PBB but you don’t have to worry about coming into work and getting laid off. I’ll take that trade for a year. We are entering a recession, it’s not going to be the same as prior years.
Now you do
OP please confirm that you understand all of this...please. This is an easy one, lol...
It's not just the WFH. It's all the impact the virus has on the business/engagements/client spending. I would happily take no PBB if that means keeping my job.
Mostly agree with external auditor though charging COVID codes and personal days (unless you can cash them out upon departure) should have no impact on a company’s cash flow
Each call with a client the last week has been harder than the last. These people and businesses are hurting. Layoffs, shut downs, etc are all happening. As we help clients navigate the crisis and ultimately rebuild and recover, we know that their success is our success. I don’t work at EY but it doesn’t take much of a crystal ball to predict that many of our firms are in for an “off plan” year at best. We are all accountants and should understand that reduced revenue must be offset by reduced cost if we want to stay in business. Our #1 cost is all of you! So some firms may eliminate bonuses, reduce raises, delay promotions, reduce partner compensation, move on severing low performers, and maybe layoff people.
I'm glad you're actually doing the collections calls yourself. My partner/director are pretty unsympathetic. Par for the course with this firm, though.
Do you think they’ll do like a rolling two year performance assessment? Like 2021s PBB would depend on your performance for the last two years?
Or can I just stop trying right now?
I’ve already started not trying as hard and setting boundaries sooooo 🤷🏼♀️ a two year assessment would be hard to keep track of haha
Anyone complaining about the way this is being handled always has the option to use the door to exit. This is tough on everyone and not a time to stick your hand out.
EY reppin’ hard with the koolaid on this post. Your partners should be proud🤣
@everyone saying leave or partners work harder, I agree they do and I’m not saying they should make less, I’m saying covid isn’t the reason we won’t have PBB... so some ownership/accountability for the down year rather than trying to pass it off on COVID would go a long way
Yeah, no. Guessing you’re below manager and not a part of any meaningful markets discussions.
If you are not happy with EY, you can always go somewhere else. Stop whining lol.
Stop whining about OP's whining, lol.
This is why companies have bonuses. It gives flexibility. It’s not guaranteed. It’s sucks, but at least they are letting us know now instead of right before the bonus pay date. Gives us all time to plan.
How about they half their salaries so that the real workers can get something. What a shame.
Partners don’t get a salary. Their “salary” is a draw on their capital account
How many people think OP is a trust fund baby?
If he was a trust fund baby his trustee would have reduced his allowance money and he would have had a better understanding;)
What is a PBB
Performance based bonus
There may well be layoffs just not called layoffs. The plan is fluid and impact dependent on length of recession and recovery.