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February 5, 2023

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.

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