[UPDATE] Now that PwCers got that sweet, sweet “Timmy Stimmy,” a mid-year raises thread was created on r/accounting, although there hasn’t been much action in it so far. The 5% raise nearly everyone got is reflected in a few posts, while a Senior 3 in Consulting Advisory Services mentioned getting the additional 10% adjustment (see below) on top of the 5%.
[Originally posted on Dec. 17, 2021]
What was rumored in posts on the usual chatter sites yesterday turned out to be true this morning: PwC is handing out 5% adjustments in pay, or a “Timmy Stimmy” as one PwCer called it on Reddit, effective Jan. 15, 2022.
Unlike Deloitte, which gave mid-year comp adjustments to Green Dotters who they deemed had salaries that weren’t competitive in their market, PwC is apparently giving 5% raises across the board, except for managing directors, who are getting 3%.
I checked in this morning with a senior manager at PwC to confirm the mid-year raise, and he/she responded, “It is true. 5% of course is better than 0% especially given where inflation is now and will likely continue trending up.”
Most PwCers on Reddit and Fishbowl seem pretty happy with the 5% mid-year raise, even if it’s below the current inflation rate, because of how generous PwC was with raises last June.
The ball’s in your court now, EY.
[Updated on Jan. 3, 2022] According to a post on Fishbowl, PwCers who work in Capital Markets and Accounting Advisory Services, Financial Due Diligence, Valuations, and M&A Tax Services got an extra 10% to 11% salary boost on top of the 5% that everyone will get Jan. 15.
Related articles:
Compensation Watch ’21: How ’Bout Them Raises At PwC?
Compensation Watch ’21: Deloitte Puts Mid-Year Raises On the Table
So you have been underpaid for a long time, you get a pay increase that doesn’t meet inflation, and the partners still make multiple times more than a senior manager? Sounds like anyone excited for this is the same tool they always were.
I’ll take the free money and “pretend” to be working from home.