Compensation Watch ’20: Who Is Getting Mid-Year Raises At KPMG?

With all this talk about mid-year raises at PwC starting Jan. 1, $1,500 holiday/mid-year bonuses at Deloitte, and mid-year salary bumps at EY effective Jan. 9, all we’ve heard are crickets on our tipline about what’s going on at KPMG.

But I did notice this post on Fishbowl last Friday:

In a different post on Fishbowl about Big 4 mid-year raises a few days before KPMG’s announcement on Friday, a few people from KPMG chimed in after a PwCer mentioned his/her firm’s mid-year salary adjustments:

So it seems like tax folks are getting mid-year raises in the range of 2% to 5%, advisory too, but not those in audit; however, they are getting a bonus.

I checked out Reddit this weekend to see who has been saying what about KPMG mid-year raises and I found this:

I believe it’s no raise for audit but raises for tax and advisory. Audit is getting a bonus/award in January and May. No idea any amounts though. …

Audit is receiving transformation awards in January and May. Tax and advisory said they got [an email] that said they will be receiving mid year raises. Not sure the wording of theirs since I’m not in that practice. I think that’s all separate from the raises and VC that we will be receiving at the end of the year (October 21).

Back in early April, when firms of all sizes were freaking out about what COVID-19 might do to their business, then-KPMG CEO Lynne Doughtie said the firm would not be able to pay year-end variable compensation to employees this year and that there would be significant reductions to partner compensation.

But all indications are that KPMG will be doing VC in 2021.

This is all we can piece together right now about mid-year raises at KPMG. If any KPMGers can confirm what’s been posted on the chatter sites, email or text us using the contact information below.

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.

2 Comments

Comments are closed.

Related articles

Which Firm Had the Most IPO Audit Clients In Q1 2021?

The SPAC bubble didn’t burst during the first quarter of 2021. Of the 407(!) initial public offerings in U.S. markets between Jan. 1 and March 31, 298 (73.2%) involved blank check or special-purpose acquisition companies, according to a new analysis from Audit Analytics. In total, the 407 IPOs raised nearly $134.7 billion—an increase of more […]

In Response to Discrimination Claims From Ex-Senior Officer, PCAOB Went on a ‘Deny’ Spree

The PCAOB emphatically denied the allegations made by its former chief administration officer Sue Lee who claimed in a wrongful termination lawsuit that she was the victim of a “xenophobic and racist campaign” against her by Chairman William Duhnke because of her Asian ethnicity. How emphatically did the PCAOB deny Lee’s discrimination accusations? The U.S.’s […]