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Bonus Watch ’11: Some Details on KPMG’s New Utilization Bonuses

Who cares what they’re doing in Luxembourg, anyway? Our tipster qualifies some of these numbers for the new bonus program but assures us that they’re in the ballpark.

Details of the utilization bonus came through to managers in the NY Office to prepare them for the announcement to staff. Payments will be made in April and October based on total billable hours. Three Tiers T1 – 1700 hours, T2 1800 hours, T3 1900 hours, must meet or exceed hours listed. Bonus amounts based on base salary and level.

Associates are as follows as a percentage of base (might be slightly off, SA here and didn’t pay much attention to Associates pay) T1 – 2% T2 – 3%, T3 – 4%. Senior Associates T1 – 2.5%, T2 3.75%, T3 5%. So for a year if you reach 1900 hours, 950 Oct-April and 950 April-Oct, you would have received 10% of your base pay as a bonus broken into 2 payments.

I might have some of the numbers slightly off, as I read over my managers shoulder, and am only interested in Tier 3 SA as I had 2100 billed hours last year, but I think they are generally accurate. This was for IT Advisory. I know other Advisory practices have the same pay out rates but lower hour expectations by tier. No idea about Audit or Tax.

UPDATE: Tables from the advisory email that was sent out earlier today:

If anyone can confirm these numbers for IT Advisory, please get in touch. Likewise, [I]f you’re in other advisory groups, audit or tax and have the details, email us and we’ll update.

Some KPMG Employees Are Asking ‘Where’s the Beef?’

It was brought to my attention earlier today that at this time last year, KPMG had announced their Summer Blast which included everyone’s favorite Klynveld tradition: a package of Omaha Steaks. But in 2011, we’re only a few short days away from the Memorial Day weekend and so far, no such communication has occurred.


If the House of Klynveld has, in fact, down away with spreading the flesh around, there could be a number of reasons for it. One possibility is that Phil Mickelson still isn’t touching the stuff and won’t have any company endorsing him encourage the consumption of meat. The other reason could be that the firm has to save the extra cash for Tim Flynn’s retirement party. Of course it could also be that information coming out of partner exit interviews indicated that they were getting tired of hosting BBQs for employees. Of course, this is all speculation on our part but all seem plausible.

If you have your own theories, are otherwise privy to the meat info, getting antsy for your package or have other ideas for Summer Blast 2011, tell us below.