Hey gang, remember a couple years ago when PwC acquired Booz & Company? Remember how we all hoped the new firm would be named something fun like Boozerhouse or BoozeCoop or Company? Remember how they went with Strategy& and no one got it and it harkened everyone back to Monday and we all had a good laugh?
Yeah, those were good times. Anyway, fast-forward back to present and Strategy& employees make more money than all of us:
This chart is from Statista based on a bunch of Glassdoor data. And it is a stark reminder of your meager career prospects. While the rest of us grind it out, waiting for performance reviews that will barely keep pace with the rate of inflation, Strategy& employees fly first class and keep company with captains of industry and technology that are changing the world all while pulling down salaries that would feed the entire population of some countries for a week.
This is the last thing we thought we would see: No grumbling from accountants over pay freezes.
Maybe our number crunching friends across the pond are less hung up on money but Stateside “No grumbling” is, at the very least, debatable.
We figured getting a comparison poll was in order. So, continuing the theme of election day, we’ll ask you to vote again, this time on how you feel about your current salary. Feel free to elaborate in the comments.
Just last week we learned that compensation discussions at McGladrey were going to be occurring in the coming days and weeks and it appears things got rolling right away and there are even some numbers to report:
We just received correspondence from national regarding our Firms performance and a cryptic breakdown regarding upcoming comp discussions [memo after the jump].
Furthermore, they have begun the comp discussion process in the southeast. Apparently the partners received official compensation breakdowns for each employee either Wednesday or Thursday of this past week. A newly promoted senior i their discussion already and he received a 11% raise and $1k bonus.
To circle back to correspondence from C.E., I think it’s particularly insulting that he mentioned that “this year, as in previous years, we will continue to follow a “pay-for-performance” approach when it comes to individual compensation”; Interesting how there were people who received 5s last year who received a 0% raise in 2009, and those promoted received what amount to an inflation adjusted raise-just under 4%.
So 11%/1%? Thoughts anyone? If you’ve received your numbers, report below.
It’s also worth noting the following from C to the E and Dave Scudder, “In spite of a very weak economy, we held our own. We had several unique one-time charges that impacted our profitability (see Rene’s financial update on The Point for more details). Without these, our pre-tax margin would have been essentially flat with last year.”
So “we had a pretty solid year if you ignore a few major things,” is more or less an echo from the H&R Block press release that we saw late last month. In case you forgot, those one-time charges include costs associated with the little divorce and reconciliation between RSM McGladrey and McGladrey & Pullen as well as a goodwill impairment charge.
Despite the tough year, leadership assures everyone that the good times will continue to roll at Mickey G’s, “You’ve seen a number of exciting announcements in the last month, and let us assure you that the good news is going to keep coming.” In other words, more golfers that aren’t Natalie Gulbis and plenty of refreshments.
Hey gang, remember a couple years ago when PwC acquired Booz & Company? Remember how we all hoped the new firm would be named something fun like Boozerhouse or BoozeCoop or Company? Remember how they went with Strategy& and no one got it and it harkened everyone back to Monday and we all had a good laugh? 
