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Compensation Watch ’21: Cherry Bekaert Gave Out Some Mid-Year Morale Boosters

During this time of year when there’s hardly anything going on because most of you have started your holiday break and are (theoretically) not doing any work and spending time with your family and friends, this news from a manager at top 27 firm Cherry Bekaert dropped in our lap last week:

People have started to get personalized emails about comp adjustments.

My pay increase was close to 5%.

It’s a good firm and these are challenging times. The firm has experienced extreme turnover and we have all been working long hours with no breaks. Managers have been doing ENORMOUS amounts of senior work. The pay increase communicates that the firm is willing to take some steps.

5% is definitely top end. Looks like the range is 3-5%.

In addition, we were told the firm is giving employees a $300 remote work stipend in 2022 and $100 worth of bravo points, which can be used to buy gift cards, headphones, etc.

CBers, did your mid-year comp adjustment fall within that 3% to 5% range? Will this keep you around for another busy season? Let us know in the comments or get in touch with us using the contact info below.