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Depends if you are getting promoted or not. Average without is about 3-6% I would say on a non-promo year. During a promotion year depending on level and team it is tough to give an average. Let’s just say higher than 6 :)
RSM 1, it sucks to work for RSM if the numbers you mentioned Re true at your firm. I mean you see these numbers in industry not in public accounting.
I think my first year was 7%. It got better from there. You have to remember as a first and second year, your skills are a commodity and easily replaceable, so the price for them is lower. Sure, you can go to an industry job for a 20% pay bump, but you’ll sit at that for years and your raise will be at a 3% COL when you do get one. If you stick with public, your raises will out pace industry within 3-5 years. While that doesn’t help if you hate your job, it is a silver lining if you like it. I’m earning more than I ever would in industry and am extremely happy with my salary 6 years in.
Source: experience in both public and private.
RSM 4 - don’t tough it out if you don’t like the job!! Yes, the raises come faster and higher after a couple years but money doesn’t buy happiness. If your miserable, please find what makes you happy. You can’t take it with you when you go, so do what makes you happy.
EY 2
I got a 10% raise first year...
Same!
I had a 12% raise after my first year. There are a lot of factors involved.
Lol I am in same boat and I think we should be over the moon for the 5% we are going to get.
I'm already planning my exit for a big old raise.
About 8% is average
I got 5% my first year. Not sure what to expect if I get promoted though
I had 9% my first year then about 15% my second year. 55k-60k-69k
8%, and still only ended up with $1k more than new hires because of their market adjustment, so if you factor in what they were adjusted to as Staff 1it was only actually a 1.75% raise.
have had atleast 15% over the past 3 yr round-tables
Just curious from your experience, is it true that only tier 1s get 15%+? I did also get that as a tier 2
Your income will double every 7 years in public accounting
I’d say every 4-5 yrs actually (ie 60 120 240 480)
Got 2% after my first year with EY, was told that was bc my hiring salary was higher than my peers... left EY to another firm and got a big fat bump.
Seeing these numbers made me realize I got burned starting off at a small firm. My annual raises never went above 3%
BT1 - you may be a middle of the pack performer right now. My hunch is your top performing associates and seniors are more in line with the numbers above. If it makes you feel better my first raise was 2.3% and second was a little over 4%, and over time my average is still >12%. Keep learning and delivering and the money will follow.
around 7% increase from first year to second year
Raises fluctuate year in and year out depending on so many factors. That said, if I average out the overall increase, it would come out to be ~12% per year. Some years <2% and some >20%.
Got 11.25% as a dead-average staff in US-East
Mine have been 10-12%
6.9% raise my first year
I’ve been with the firm through 4 anniversaries. Each year I’ve gotten pay raise of 10% at least, even more for promotions of course.