Presumably, in the bad years some high performers may see a paltry raise of around 4% but in the good years, it will push 16%, depending on metrics listed:
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(UPDATE) Compensation Watch ’10: More Deloitte Results Lag E&Y, PwC
From the mailbag:
Managers in the Northeast for Deloitte had their compensation call today, raises for [audit] senior promotes (2nd year to 3rd year) are confirmed at 5 to 9 percent, depending upon rating. 1st year to 2nd year are 2 to 5 percent, depending upon rating. Experienced seniors are 4.5 to 6.5 percent with bonuses from $3k to $7k depending upon rating.
This is materially flat year over year for Deloitte. Although they are giving bonuses and raises to experienced seniors which did not happen last year.
So this is similar to the news from the Midwest we reported on Friday which doesn’t bode well for the rest of the country who may have been hanging on to a sliver of hope for PwC/E&Y-esque numbers.
Discuss and keep us updated.
UPDATE, August 18th: This just in:
Confirmed on audit senior compensation webcast this morning:
Base salary increase for New Managers by Rating:
1 – 24%
2 – 23%
3 -18%Base salary increase for Experienced Seniors by Rating:
1 – 9%
2 – 6.5%
3 -4.5%
4 – 0%Bonus for Experienced Seniors by Rating:
1 – 7k
2 – 5k
3 – 3kBase salary increase for 1st to 2nd year staff:
1 – 5%
2 – 3.5%
3 – 2%
4 – 0%Base salary for new hires will not change from prior year.
Annnnd discuss.