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October 2, 2023

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KPMG

KPMG Gives Green Light to Start Pretty Disappointing/Pleasantly Surprising Conversations

by Caleb Newquist

This just in (late on Friday):

Heard from a partner in our office, corroborated by the HR manager, that they can officially start having comp discussions with employees starting on Monday, 9/27.


So if you’ve got a scheduled sit-down or call today to have a little chat, let us know how it goes and spare no details. This includes – but is not limited to – percentage raise, bonus, your subsequent tirade (or jubilation) to hearing the news, any explanation that your messenger offered to make you feel better, the number of people crying in conference rooms, etc. And if you too shy/ashamed to share, just email us and we’ll update the post.

UPDATE:

This is just in:

Multiple partners in my office (including a sit down meeting with all senior associates) have floated numbers from 8% to 12-14%. We’ve been told Hearing that we will be “pleasantly surprised” by the numbers and that they will be higher than what Johnny V said this summer. Partners have received the comp numbers but have NOT yet been given the green light. Later today is the plan.

Discuss.

UPDATE 2: The latest from a Southern KPMG office:

SP: 5-7%, 2% bonus
SP+: 7-12%, 4% bonus
EP: 10-14%, 6% bonus

Range is attributable to prior year ranking and individual performance. For example, there may be a “really good” SP+ who was an SP last year, who may get 12%, or a “barely there” SP+ who was an EP last year getting 7%. Needless to say, morale is fairly high.

Also, all practices and divisions are having “EOCircle” events, which are small events ran by the partner. Mine is occurring at a bar, for example, for a happy hour. These are occurring this week.

UPDATE 3, September 28th:
Early reports are in:

I’m an SP+ SA3 (I was an EP each of the last few years) and got a 6.7% raise with a 2.5% bonus. I know an SP+ SA3 who was an SP/SP+ (no differentiation in prior years) who got 10.3% bump with a 2.5% bonus. We are now both making the same. It looks like the percentages were relatively correct but that the bonuses are slightly below what was originally communicated to us.

This just in (late on Friday):

Heard from a partner in our office, corroborated by the HR manager, that they can officially start having comp discussions with employees starting on Monday, 9/27.


So if you’ve got a scheduled sit-down or call today to have a little chat, let us know how it goes and spare no details. This includes – but is not limited to – percentage raise, bonus, your subsequent tirade (or jubilation) to hearing the news, any explanation that your messenger offered to make you feel better, the number of people crying in conference rooms, etc. And if you too shy/ashamed to share, just email us and we’ll update the post.

UPDATE:

This is just in:

Multiple partners in my office (including a sit down meeting with all senior associates) have floated numbers from 8% to 12-14%. We’ve been told Hearing that we will be “pleasantly surprised” by the numbers and that they will be higher than what Johnny V said this summer. Partners have received the comp numbers but have NOT yet been given the green light. Later today is the plan.

Discuss.

UPDATE 2: The latest from a Southern KPMG office:

SP: 5-7%, 2% bonus
SP+: 7-12%, 4% bonus
EP: 10-14%, 6% bonus

Range is attributable to prior year ranking and individual performance. For example, there may be a “really good” SP+ who was an SP last year, who may get 12%, or a “barely there” SP+ who was an EP last year getting 7%. Needless to say, morale is fairly high.

Also, all practices and divisions are having “EOCircle” events, which are small events ran by the partner. Mine is occurring at a bar, for example, for a happy hour. These are occurring this week.

UPDATE 3, September 28th:
Early reports are in:

I’m an SP+ SA3 (I was an EP each of the last few years) and got a 6.7% raise with a 2.5% bonus. I know an SP+ SA3 who was an SP/SP+ (no differentiation in prior years) who got 10.3% bump with a 2.5% bonus. We are now both making the same. It looks like the percentages were relatively correct but that the bonuses are slightly below what was originally communicated to us.

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