After his appearance on Fox Business, Quigs plugged himself in for 24 hours and then hopped over to Bloomberg to talk about the disappointing job numbers from last week but that at Deloitte, things are just swell.
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Some Early Returns From Deloitte Salary Adjustment 2.0
As you’re no doubt aware, last Friday Deloitte made the announcement that the market for audit salaries had been misunderestimated and a second adjustment was going to be communicated to opiners this week.
Checking with a source inside Deloitte, we’ve heard some of the preliminary returns:
I have heard rumors of 5k in Hartford and 4k in Chicago for Seniors. But nothing to prove them out. The general range I have heard though is 2kish for 2nd years and 5k for seniors.
No word at at this point on what managers are receiving, so if you’ve gotten the news, let us know below.
The question now is – was all this hoopla worth it? Granted it’s early but if the range is in the ballpark, there’s likely a few people that are simply, “meh.” On the other hand, maybe if you got called in for another meeting to be told that you’re getting an extra $2k – $5k you might be really flippin’ stoked. However, many people will likely remind you to get some perspective.
Either way, the tax practice is feeling short-changed and advisory is too busy rolling around in their cash-filled bathtubs to care.
Discuss the situation at present and keep us updated with the adjustment news just as soon as your sit-down is over.
UPDATE – 12:45 ET: This just in:
Deloitte experienced assistant from South Florida – $2k for audit assistants, $5k for seniors.
total raise for the year with comp adjustment – 8%. Could be better but could be the original 4% I got in August…
UPDATE – crica 2 pm ET: The latest:
Miami: 2nd years: $2k, Seniors: $5k
Parsippany: 2nd years: $5K Seniors: $8K Managers: $6K
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Higher-ups at Deloitte Aren’t Sure Why Employees Are Still in ‘Shock Mode’ From the Last Few Years
All the good times at the Deloitte – Jim Quigley on the teevee, surprise raises, leaving PwC in the dust – hasn’t gotten green-dot morale to acceptable levels.
Accordingly, some of the senior partners in the advisory practice have taken it upon themselves to remind everyone how things are turning around.
From a green-dot familiar with the situation:
There has been an up-tick in senior partner communication recently – mostly in the form of mass e-mail communications, published “Your Questions Answered” videos and in-person “Straight-Talk” sessions – seeming aimed at reassuring the masses that Deloitte’s on its way to the promised land. The message is pretty clear that we’ve survived the recession, are hiring like crazy, are bringing in new business at a solid clip and that we’re spanking our competition (i.e., need to look into the rear-view mirror to find PwC and gang).
This, of course, is in contrast to what we in the trenches feel; that our compensation isn’t mirroring our level of output, that we can’t staff engagements because we don’t have enough resources and that all of our friends are leaving for our competitors. This disparity is acknowledged by the partnership; and at least at one straight talk session, we were told that they can’t figure out why we don’t see the light. It was then proposed that we’re still in “shock mode” because of the last few years; but this observer thinks it’s more that we’re working so hard to produce results for the partners that we can’t see the light because the only free time we have is the few hours of twilight that exists each day – and that’s for sleeping (or other creative stress reducing activities ).
Btw, not sure what you’re hearing; but in my group-region alone, I know of 8 people who have left in the last month (the group-region is about 120 people).
Okay then – so it boils down to either being in “shock mode” or your terrible attitude. Share your position on the matter and what camp you fall into below.