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Dear Fishes, I am switching for the ist time in my life in 8 years.Need guidance on which will be better in terms of wlb,job security and learning wise.offered compensation is nearly same in all 1.Harman(product) 2.Hitachi Vantara 3.Banking captives:-Deutsche,UBS, HSBC Yoe:8 Techstack: java,Microservices,Devops,AWS,Azure Harman Harman Connected Services Hitachi Vantara Deutsche Bank UBS EY Deloitte PwC Tata Consultancy Wipro Capgemini Cognizant HSBC HSBC India
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I got 5% going from associate to senior associate at KPMG during the last recession in 2009. No other raises that year for anybody. 7% doesn’t sound too bad.
do you like working at the PCAOB?
Well in California some big 4 firms have started layoffs for associate I and associate II. These are not performance based. If people think they can easily get a job somewhere else then feel free. Many of you who are young haven’t seen this type of stuff before but there’s been years when the entire class (big4) received $1000 across the board which was less than 3% at the time. But then in good heads it can reach 25% which has happened to me too. My friends in large private companies like Toyota or Disney we’re lucky if they got 5% in any given year. This has happened many times and based on economic factors. Private industry is getting let go, reduction in pay or no raise.
Coach
Would you rather get laid off
That’s how I feel lol OP lol
PwC is doing a wage freeze, so no raises for anyone this year unless you were promoted. Then you get a “promotional increase” to make what a normal senior/ manager etc. would make. I know for my office seniors make about $70-$71k so those being promoted to senior will get whatever it takes to get them to that amount (no matter what tier)
This is how things always were (when I was at pwc) In my office, new seniors made 73k. All 3 rated new seniors made that. I was a 2 rated that year and made 74.5k. I would imagine in this situation every rating will make the 73k. 1.5k pretax in a normal year... you won’t be missing much.
RSM- 5% increase only for promoted employees
Firms better make it up the following year or there's going to be a big exodus. 5-7.5% is not what I attribute to a promotion when 20-25% is typical in a non-Covid year. That would mean typical raise in non promotion year is 12.5-20% which is not true.
I had the same exact thought when firm management said they’ll re-evaluate in December
Unsure at my firm, but it's one of the reasons I was OK not pushing for earlier manager promo. Would rather get promo next year and actually get a good raise with it!
Next year lol? It might be way worse
EY did 7.5%
Only promotions. And that was mid year. But from what I understand it will most likely be 7.5% for promotions and nothing else.
Our first years coming in next year are making more than I make right now as a second year so when I’m getting paid only a couple more K than my first year next year I’m gonna lose it.
What are your first years coming in at?
No raises at Crowe, not even for promoted employees
At least they didn’t cut you I guess.
I was promoted to manager and got a 10% raise, which from I’ve heard has been the typical promotional raise for seniors and managers this year.
10% for those promoted to senior or manager. 5% for those to senior manager or director I believe.
In the past 2-3 years, I have heard of 15-22% A2/A3 to S1 promotions raises. But this year, I doubt anything close to that
No way anyone on earth anyone got a 25% raise from A2 to S1 at any time. I went from A1-S1 and got 17%.
OP what location?
In my office last year, Audit A2 —> S1 got 20%+ but that is also based on the high growth in the Southeast. We are expecting around 7% for the promo increase, but have heard others are getting “adjustments” to make sure you’re getting paid more than the ranks below you. Not sure what the adjustments will look like but most likely put in place to try and prevent a mass exodus
Any updates?