Please ensure Javascript is enabled for purposes of website accessibility
September 26, 2023

(UPDATE) Compensation Watch ’10: Are Raises Looking Bleak at E&Y?

It’s been awhile since we’ve heard any news on the E&Y comp front but we finally received a preliminary report from one source late last week:

[Roundtables] went the same way they always go. Surprisingly, less pushback on proposed ratings for the portion I was involved in. I really think they may be scared to lose more people. Indications are raises will be low (3-5% range for most, more for 4/5 rated people) Bonuses are probably non-existent for the masses. Annoucements of promotions for other levels will be made in August (staff to senior, senior to manager, manager to senior manager) they will also do comp increase discussions then. Effective 10/1…


So despite Ernst & Young re-reassuring merit increases the 3-5% for the meaty part of the curve and no bonuses isn’t exactly what “the masses” were expecting.

That being said, this office may be catching some bad luck since we that at least one E&Y partner was confident that the raises would beat PwC’s.

Although, some lucky E&Y soldiers have seen some “spot bonuses” for their hard work but it’s not clear how widespread that generosity is.

On a marginally-related note, we’ve received word that the partner promotions were announced but we’re still trying to run down some details. Get in touch with us if you’ve got the scoop on the new partners, what you’re hearing about comp in your office and discuss below.

UPDATE, Wednesday June 16th: A couple more accountants familiar with E&Y have their own take on the comp situation:

I heard that we “we’re not going to be disappointed with raises” here at EY. I don’t know what that means. And I tend to believe, that as you posted today, 3-5%, is a more realistic view of what’s going to happen (though that’s just my own pessimism).

and that is coupled with another source, “Haven’t heard anything further on comp other than ‘moderate.’

Continue attempting to decipher the latest. As you were.

It’s been awhile since we’ve heard any news on the E&Y comp front but we finally received a preliminary report from one source late last week:

[Roundtables] went the same way they always go. Surprisingly, less pushback on proposed ratings for the portion I was involved in. I really think they may be scared to lose more people. Indications are raises will be low (3-5% range for most, more for 4/5 rated people) Bonuses are probably non-existent for the masses. Annoucements of promotions for other levels will be made in August (staff to senior, senior to manager, manager to senior manager) they will also do comp increase discussions then. Effective 10/1…


So despite Ernst & Young re-reassuring merit increases the 3-5% for the meaty part of the curve and no bonuses isn’t exactly what “the masses” were expecting.

That being said, this office may be catching some bad luck since we that at least one E&Y partner was confident that the raises would beat PwC’s.

Although, some lucky E&Y soldiers have seen some “spot bonuses” for their hard work but it’s not clear how widespread that generosity is.

On a marginally-related note, we’ve received word that the partner promotions were announced but we’re still trying to run down some details. Get in touch with us if you’ve got the scoop on the new partners, what you’re hearing about comp in your office and discuss below.

UPDATE, Wednesday June 16th: A couple more accountants familiar with E&Y have their own take on the comp situation:

I heard that we “we’re not going to be disappointed with raises” here at EY. I don’t know what that means. And I tend to believe, that as you posted today, 3-5%, is a more realistic view of what’s going to happen (though that’s just my own pessimism).

and that is coupled with another source, “Haven’t heard anything further on comp other than ‘moderate.’

Continue attempting to decipher the latest. As you were.

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Related articles

Happy and sad funny face ball character in crowd 3d render

EY Survey: Gen Z Is Broke, Anxious, and Extremely Worried About Everything. We Can’t Blame Them

EY put out a press release on the results of its 2023 Gen Z Segmentation study yesterday and it’s not good. Less than a third (31%) of those born between 1997 and 2007 surveyed feel financially secure, more than half (52%) said they are very or extremely worried about not having enough money. Mind you […]

Ernst and Young sign on modern building facade in Italy

EY Narrowly Missed Hitting $50 Billion in Revenue for the First Time

As we all know, EY had a tough year. Mostly due to their own choices, choices that led to the professional services equivalent of a wet fart. Despite the proposed audit and consulting split falling apart and leaving a $500 million dollar hole in the firm’s pocket, they still had “one of the most successful […]