{ "media_type": "text", "post_content": "Would really like to know what's going wrong at PwC. Can someone please explain the root cause of unhappy employees, layoffs and steamroll culture?", "post_id": "595fc64bedea9400166b5c48", "reply_count": 44, "vote_count": 30, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Would really like to know what's going wrong at PwC. Can someone please explain the root cause of unhappy employees, layoffs and steamroll culture?

like
Posting as :
works at
You are currently posting as works at
Highlighted IconHIGHLIGHTED

It's a competitive industry. I recall seeing similar posts this time last year from Deloitters. We're about a year behind them in terms of "house cleaning" activities. EY has been on a hiring spree (hiring many of our people) and I predict that they will find themselves in a similar position to where they'd over hired against their demand and will be making similar cuts during their next annual review cycle. For many of the people I knew who've been laid off, this just wasn't the right fit for them... talented and intelligent people in their own right, but they were the victims of being hired when demand was at its peak, right before a slowdown, and they were unable to fully integrate into the Firms culture

like

P1 is probably the same leadership who made the changes. No, this year is not the same. A cultural shift was initiated this year by the partners. This past year: Health benefit plans reduced, promotion incentives reduced, bonus payout distribution for lower levels reduced (even though on paper we fully funded our bonus pool), new criteria for getting higher rating, new pay model that equalizes arbitrarily with no inflation adjustments for multiple years, decrease in transparency, increase of leadership complacence/latency. Basically, we're doing what we preach to our clients not to do. We are putting profits first people second. We are taking the "norm" from other firms and making it our model to be "more competitive." We are replacing our best practices that set us apart with the median/average (most commonly used) practices instead. We are aiming for average.

like
Recent IconRecent

Each area is different. This is the annual review cycle where people inevitably end up not getting a promotion they felt they were entitled to, or terminated due to having lower performance than their peers (for one reason or another). They end up on FB, correlating their poor luck with the demise of the firm. Last year people were saying they were going to tell the WSJ about how unfair things are, and that they predicted the firm would "go down in flames". Happens every 11 months.

like

Many PwC partners above pitching on this post and trying to justify the stupidity and unfairness that runs in their accounting firm...all acquisitions including PRTM, Diamond and Booz have been a big failure...Morale is at all time low and one cannot trust any second person in the firm....lack of transparency around business..HR leadership the worst I have experienced...actions and words totally contradict each other..can write a book describing all the BS running in the firm..

like

Couldn't agree more with P4. First time bonuses have been "fully funded" in my three years with the firm. Fully funded is also much less than what is advertised to staff as bonus potential. Cohort model is flattening base pay at all levels and especially mbas. It's been disappointing to watch. We are moving towards recruiting and maintaining average talent.

like

I feel that this year and last year the situation has been way worse than usual (more layoffs, fewer promotions and lower raises/ bonuses) and very unpredictable as some of the well performing staff got laid off

like

As a former pdubs employee (and still in touch with many friends there)... the company doesn't act in a way that shows value for their people... or their careers. And it's not just because it's CRT outcome time. There is limited transparency on a lot of fronts and career progression seems more weighted towards game play than actual competency or demonstrated ability. It leads to frustration, loss of good talent... and the worse part is when you try to have candid convos with partners or other leaders (obviously those you trust enough for that).... falls on deaf ears so long as their book of business and profile look good. There is a mix of folks in there who try and push for better... but they are the few and far between.

like

Mostly agree with P1. We also got new firm leadership recently and he/they undertook a cost cutting program that involved some cuts to back office staff and some reorg. It was poorly communicated and not well executed. Combine the two and people are unhappy. We actually had a pretty good year.

like

I agree with P4 as well. There's more than a hint of penny pinching happening too, which will turn off the top performers, causing an exodus

like

I think everyone has fair points and it's at the practice level that partners will choose how much to be transparent, fair, and insulate their staff from corporate bullshit. I think that is what makes the difference between something like what P1 is saying and what P4 is saying. A lot of practices partners are pinching pennies, treating even high performers as expense line items, and failing to communicate to staff. It's that day to day shittiness that is the most tiring and demotivating; it is also the most fixable by a practice's partners. Sadly too many of them choose not to care. My practice is among them and morale through all levels is low.

like

Manager. Semi leadership. Lols.

like

Avoid avoid avoid PwC your time is precious-- life is too short many other better more fulfilling opportunities in the marketplace today

like

In a few months D and EY will be complaining just as much when their promotions and bonuses are announced. PwC is not going down in flames, nor are we in a race to the bottom. Some practices are doing better than others, which is to be expected. Some practices did great and their people got fabulous variable compensation and very good raises. I don't think it's fair to make blanket statements and trash the firm when in reality there are lots of different situations going on, just like at any other Big 4.

like

Zero transparency and projects are nothing like what you expected when you signed your employment offer.

like

PwC12 lol what are you smoking bro

like

Manager here, so semi leadership but not enough where I have to say what they want. I'd agree with P1 that this is fairly standard and there is just a very vocal contingent on FB complaining. Every firm does some cost cutting at times; this isn't some big change. I didn't get a great review this year but from all my years in consulting (here and Deloitte) I've learned that some years your review/comp is better than expected and some years it's worse - and that's the case at any firm. I'm content to stay at PwC and play the long game, as I'm happy for the most part and am not going to get worked up about a few thousand dollars when everything else is good.

like

Also no one should be this unhappy or stressed about employment--- beyond not worth it

like

But OP is BCG P12, let's think before we post such "conspiracy theories"

like

Wondering the same as I was considering making a move to their cyber practice?

like

Is it bad enough that you'd discourage someone from joining?

like

Related Posts

Anyone willing to chat about Deloitte S&A practice (the strategy part) in regards to comp, culture and wlb?

like

Which CPG company: - pays the most - has the best culture - promotes or value the most ex consultants - has the best name/reputation (The answer might very well be different for every single question but would love your thoughts)

like

Have you ever been fired from a job? What are your strategies for getting back on for feet?

like

Just laid off. I have so many feelings right now and feel so lost. To those who have gone/are going through this, where did you begin to pick up the pieces? (Cont)

like

MBB folks - is anyone worried about layoffs, especially now that start dates seem to have been pushed, etc?

like

Fishbowl needs to fix the auto categorization algorithm. Now the Fort Lauderdale shooting is under the Layoffs search based on the word "fired".

like

Hi ladies, I need some advice on how to navigate/build a relationship with my fiance's family. Some of his siblings and family members are very standoffish and distant. For background, we are same race different culture. I'm very open and I've learned a lot from my fiance over the years. However, I believe his family still sees me as an outsider and they don't invite me to certain things. At times, it feels isolating and it makes me feel unwelcomed. They're also supposed to be in my wedding.

like

Best approach to boomerang? Looking to go back to ACN; been with Deloitte since Jan. Overall the culture isn’t a fit and think 6 months is a fair time to explore

like

TFW a "senior copywriter" writes "your" instead of "you're". Proper usage: Get your shit together or you're fired.

like

Anyone else feel like consulting attracts many people who are “soft”? I feel like the lack of accountability for our advice, culture of walking on eggshells to appease clients, never having to (cont)

likefunnyhelpful

Are the Deloitte layoffs happening in federal or commercial? I'm in fed and haven't heard a thing about layoffs

like

Layoffs

likehelpful

How is the work culture at Deloitte USI ARA, Hyderabad? WLB? Promotions? What kind of projects does a CA/CPA get?

like

Hi Fishes, I have offers for senior analyst Data Science from Tata Consultancy X - 6 lpa @Netradyne for X + 1 lpa MiQ for X lpa Tiger Analytics for X lpa Genpact for X +1 lpa Which one is better in terms of learning, growth and work culture YOE 2.5 years

Will Slalom ever do covid layoffs?

like

Damn. Ted got fired.

likefunny

Anyone ever gotten their manager fired? Or tried to?

like

Has anyone been fired? Recently happened to me and I'm struggling with how to deal with it. Like how do I tell my SO, parents, friends?

like

Was laid off from D recently and have been interviewing primarily for strategy roles. Curious for any advice converting in final rounds. I have been through several at this point and not gotten the offer. Received very positive feedback from the teams about my performance but in each case they said it was very competitive and ended up going with someone with slightly more direct experience. Tough to go through several 6+ week multi round processes and not convert. Any help or advice appreciated!

likehelpful

Additional Posts

Hey fish, I'm considering applying to business schools in the near future and am trying to develop a shortlist of schools to focus on. There are a couple key characteristics I'm looking for (cont'd)

like
like

EY 🐠, what is your SAP practice like? Good leadership, WLB? What’s a base comp range for an M in MCOL?

like

Looking to go on vacation in late May / early June. Budget of about $2k for 3 nights. Leaning towards an all inclusive beach, but coming here for more suggestions. Where would you go?

like

How are gaming chairs different from ergonomic office chairs? Something like this, anyone have experience?

Post Photo
like

Any Accenture folks here who did a personal move from a T3 city to DC? Do they provide a salary adjustment or is that just for cities like NYC and SF?

like

What is the best advice your parent/guardian has ever given you & why?

like

Do partners have a set number of PTO days?

like

How often do you show up in the office on Fridays? #WFH

like

Desi folks (male specifically) - how have you dealt with marital issues? It’s unfortunate but men are not known to show emotions. Me and my wife have had so many issues. I also can’t initiate a divorce due to a child in our marriage. I feel like mentally I’m not in a good place and really lost on what to do. I’m constantly depressed, have contemplated suicide and just overall not in a good place but I’m keeping this all to myself and not talking to anyone

like

Anyone willing to chat about Deloitte S&A practice (the strategy part) in regards to comp, culture and wlb?

like

ACN Level 9, 150k salary. Already know I’m above the salary band. Don’t live in one of the big cities. Should i be worried?

like

Currently in my late 20s and have always worked towards short-term goals e.g. the next promotion or switching companies for better opportunities and pay. Lately I’ve been thinking about leaving consulting but feel lost as to what I should do next and have no idea what my long-term goals are. Has anyone at this life stage thought about long-term goals and what you want to do in 10, 20 years?

like

On h1b grace period now, if I do manage to get a new job, how long will it take for employer to file h1 transfer? I know consultancies do it faster but spoke to cognizant today and they told 7 weeks!

like

I’ve already wondered, is there a trade off for long power reserves? Less accuracy? Always surprised me to see Panerai with 8 days in similar price points to watches with 48 or 72.

like

Anyone interested in $100 credit to StitchFix? I got a code to share that’s good for another 36 hours and I would hate for it to go to waste. Will post the link in the comments. Great options for both women and men, and a good way to add new piece for both office and WFH.

like

Any advice for someone looking to transition into a full HR Generalist role from Recruiting. I’m currently a Campus Recruiter with about 5 years of HR experience (Coordinator- Higher Ed). I received my PHR certification in September 2020 and sitting for my SHRM-CP in two weeks. I’m having a hard time transitioning into a full Generalist position.

like

Deloitte 🐠, I’m planning on applying to a Sr Consultant posting. Would anyone be willing to put in a referral on my behalf? Heard that odds are slim if you just apply on the website directly

Is time off/vacation and sick time negotiable with WPP? Specifically Ogilvy NY prior to accepting an offer? Heard it’s only 10 days of PTO. That’s crazy 🥴

like

Any one who has done CSCP certification and can help guide through the exam preparation ?? Does it help when applying to MBB??

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.

For account settings, visit Fishbowl on Desktop Browser or

General

Legal