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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.
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.
P4 just summarized in words what I've been feeling/living
honestly it sounds like you guys are constantly stressed out 😕
Is it bad enough that you'd discourage someone from joining?
PwC 10 #preach 🙌
@P13 Not trying to be pompous; just meaning I'm not a first year analyst like seemingly most people on Fishbowl, nor am I a partner who has to toe the line.
👆see that right there... not helpful. The system is broken so instead of listening and engaging @PwC9 effectively says "grin and bear it or shove off". Every firm has its issues but there has been a steady negative pattern at PwC. The culture (or something) is broken and ignoring it creates this long-term and pervasive negativeness about the firm. That impacts everything about the business.... recruiting, work product, talent pool, pipeline, retention, quality of life, reinvestment into the firm... but glad to see since everything works for @PwC9 there is nothing to see here so let's all move along!
P4: not leadership, but have been around long enough to hear "this year is different" many times. Last year was "different". Year before, too.
Not saying any of this from a standpoint of happiness, but it helps to maintain perspective.
I'm sure most of us will be here same time next year lamenting the employment unconscionables levied upon us by our firm, asserting that this time is different.
🍿
🚶
Agree. But we are last to know about a decision that impacts staff and the first to have to explain it. I'm very happy with a lot of things here. Very unhappy with cohort model, but rest is good.
PwC3, what does it mean to not fully integrate into the Firms culture? And how is it evaluated?
Deloitte
I'm assuming OP was an HR troll. What could be done differently to a make things better?
🍿 Interesting to see this is a real thing, not just a a S& perception. Validation!
S& business and leadership is equally F***ed up
this will be interesting 🍿
That was a subjective statement by me. Anecdotally, the people I've seen laid off didn't develop a network or relationships with their groups' leadership teams, making them susceptible to longer stints on the bench and being picked up for less ideal opportunities that were bad fits for their skillset(s)
Yeah- and I can be Partner McKinsey if I create a LinkedIn page and say so....
P10, agreed. I didn't say otherwise. Just an observation that it's refreshing to hear PwCers express the concerns outlined here.
@P13 Pretty much my thoughts exactly.