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Will there be any promotions at the Big 4 this year?

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My money is on yes, it sends a good message to high performers. “Most people got nothing, our people that were low or our best performers got a token 1-2%, but we found a way to give you 10%, by promoting you”. My guess is it will be reserved for the people they think will leave if they get nothing, or people that have historically gotten large raises past few years, and it’ll also be primarily weighted towards more junior folks where it doesn’t cost as much to promote them.

likesmart

Yes. Absolutely will still be promotions.

likesmart

You’ll see promotions but the corresponding raises may be deferred or lessened.

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I’ve also heard rumors that EY is not paying any bonuses this year. Is that true? If so, I would imagine the others will follow suit...

EY has a bonus that is paid based on the performance of the US firm. In order for it to be paid certain KPIs need to be hit. The firm said they are not paying that bonus this year but will not lay people off. EY said that weeks ago.

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Do you mean promotions from staff to senior or from senior to manager?

I meant across the board.

EY froze promotions for now.

I know it takes time to close and record all that needs to be recorded but a full quarter is a bit much to make your employees wait who are going through the thick of it with interim procedures and for tax filing season.

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