Another Deloitte practice is tempting its seniors and managers with a one-time lump-sum payment to try and keep them around a little while longer. A tipster told us:
Seniors and managers in Deloitte Tax are eligible for a $20k retention bonus. They would have to pay it back if they leave before 2 years. Payouts will be in April.
That same retention strategy was used last October across the hallway in Deloitte’s audit practice, where second-years through senior managers at Deloitte & Touche were offered a one-time retention bonus, with the amounts varying by level (either $20,000 or $35,000). Those who took the retention bonus now must remain at Deloitte through the end of May 2023. If D&Ters leave the firm before then, they have to pay the bonus back in full. The bonus was paid out on Jan. 7.
According to the mid-year compensation adjustment thread on r/accounting, two second-years in audit who shared their mid-year pay bump said they took the extra 20 grand to stick around a couple more years, and five audit seniors posted that they took the $35,000 retention bonus.
Like their cronies in D&T, seniors and managers in Deloitte Tax having to make a deal with the green devil for the next two years to get an extra $20,000 has to be a tough decision, especially now in this hot job market. But who couldn’t use an extra $20,000 these days?
Related articles:
Bonus Watch ’21: Deloitte’s Audit Practice Is Trying to Nip This ‘Great Resignation’ Thing In the Bud By Offering Retention Bonuses
Compensation Watch ’21: Deloitte Puts Mid-Year Raises On the Table
Deloitte Tax is a toxic environment and leadership creates a poor quality of life for it’s employees.
Yep, there’s a lot of open hostility on display from non-client service employees, many of them don’t even get raises. Group leadership pulled staff together to let us know. It wasn’t pretty.