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January 30, 2023

Bonus Watch ’11: PwC Auditors Are Going to Ask Again, Nicely This Time

According to our inquisitor, there was supposed to be word of a little holiday cheer pre-Hanukkah:

Any word on PwC Bonuses being paid out at year end?  Folks in the Northeast assurance practice were suppose to be notified by 12/20.

Okay, gang. Now maybe I'm mistaken but if you recall, someone asked a similar question right before Thanksgiving and subsequently no bonuses were given. And when I went on my little adventure out to Silicon Valley, BoMo & Co. (i.e. Ryan, Mendoza, Mcilwain) stated that there would NO mid-year bonuses. Perhaps there would be exceptions for certain groups but largely the message was, "2010 was a one-time thing, get over it." 

Now, perhaps this Northeast assurance situation is different or an auditor in waiting simply wants a spot bonus in the form of a fruitcake but I'm thinking this person can't get the sugar plums out of his/her gourd. If I've got this wrong, feel free to get in touch to inform but it's going to be a lump of coal for most people. Deal with it. 

UPDATE: A source within the firm has enlightened us with a clarification:

The "one-time deal" that Bob was referring to was the iPad/$1,000 gross-up cash that THE ENTIRE FIRM RECEIVED. On December 31, last year, members of the assurance practice also received what were previously called "We reward great performance" awards, which have now become the contribution awards below, which are also expected.  This contribution award is paid out in December and April, so most people are expecting 1% – 2.5% of their salary in their December 31, pay. So, most people in assurance are expecting to receive something in our December 31 pay checks, however virtually nothing has been communicated at this time to most of the staff and seniors in my office.  Only a few individuals have found out what their awards were, it is likely the partners haven't had time to communicate these yet, and most staff will probably just find out in the form of a higher check (hopefully).
Contribution Awards
Associates and senior associates are eligible to receive a semi-annual Contribution Award in December and the spring. This award will recognize contributions that exceed the expectations at each level (e.g., unique client contributions to the team, extraordinary effort, enhanced quality, significant assistance to another practice).  Individual awards will be determined through a formalized and consistent semi-annual process.  This award is not contingent upon RPR or credential status.

So it sounds like a little something should be finding its way into opiners' pockets but since it's, you know, 2:30 on Thursday, and no one is working next week, people are getting antsy. Carry on.


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