A couple of weeks ago, we heard that Deloitte was considering a similar compensation structure as PwC. This would result in Senior Associates making approximately 1.5x their starting salaries in three years, managers making 2x their starting salary and so on and so forth. At the time, it didn’t strike me as surprising that Deloitte would get all monkey-see-monkey-do on its employees simply because the Green Dot is a far more conservative firm than P. Dubs. While the structure at PwC was welcome with largely positive reviews, the Deloitte version was received less warmly.
Today, we have a little bit of an update for you – with slides! – on h ure is progressing. From our tipster:
I’m surprised there was no article about this yet. Tuesday we all had a compensation call which went into great detail how raises and bonuses were handled. Here are some slides you might be interested in. It appears PwC scared them and they are copying. These numbers are still not official yet as they “are working out the numbers”…
Here’s a slide from the presentation on Deloitte’s total compensation earnings multiplier that our tipster sent over:
And here’s PwC’s:
So they’re pretty darn close, with Senior Associates doing slightly better at P. Dubs but Senior Managers faring slightly better at Deloitte, thus it ends up as a wash. Granted, the Deloitte slides only present information for AERS Advisory professionals (sorry audit and tax peeps) but it would seem odd if they opted to only change the structure for one group.
Other items worth noting include the 500 promotions for this year and the 3-5% bonus that accompanies the bump.
The pictures on the following pages show merit increases based on ranking (1 to 5 scale) for Consultants, Senior Consultants and AIP – Senior Consultants.
Presumably, in the bad years some high performers may see a paltry raise of around 4% but in the good years, it will push 16%, depending on metrics listed:
And even more impressive for Seniors, with highest performers receiving a merit increase of ~20%:
What’s interesting to note here is that Deloitte claims to have awarded bonuses to 95% of “eligible professionals.” So if I understand that correctly, 5% of those people ranked 3 or higher didn’t get a bonus. It may also get you a little weak in the knees if the AIP pool is already larger than last year’s “highest ever” pool:
Lots to digest and discuss here, so let it rip.
They’re just making sure they start off the year with the “right” team.
On a serious note why would you let go of tax people in January? I get April, May, or June…but January? Did Deloitte lose a ton of business or did they just go on a hiring spree in India?
this is not tax or audit – the months that you state are not central to consulting services. Government mandates are shrinking in size and profitability metrics.
The tax layoffs aren’t tax?
DEI Promotion. Glass Ceiling is shattering on everyone beneath.
It’s cheaper to hire new accountants in India than in the United States, and the quality difference is negligible. People complain about affordability but when faced with the reality of purging domestic jobs, people get so incensed. Until we see more quality within the US, this trend will continue.
This was obviously a response from an East Indian!
Don’t let your privilege expose your xenophobia. Instead, just sip your Bud and watch some professional wrasslin’.
Truth hurts huh?
Stating the obvious about low quality Indian work is not, ahem, “xenophobia”.
It’s fact.
Obviously never dealt with indian accounts… generally substandard
Obviously you have never dealt with the American Gan Zers who have never found a deadline that they could meet.
Bruh. Is your Chinese made iPhone substandard? What about your Mexican made Toyota? Vietnamese made TV? It’s a global economy. You are really going to say that any accountant who is Indian is substandard? India has 350 billionaires, 3rd largest in the world. Go to any country in the world and you will find princes and paupers. The problem with the Big 4 and many US accounting firms is they get what they pay for and they don’t give two craps about their employees. Top Indian talent is no cheaper than US talent and these firms are hiring the absolute cheapest labor they can find or working people as hard as they can. Anyways, bruh. None of this matters. AI (Another Indian) will simply get replaced with AI or if AI is bullcrap then another country with lower labor costs. If you are a true manager you can work with anyone from any country. Is the problem the teacher or the student? Anyways, accountants gonna be accountants (cheap AF).
> and the quality difference is negligible.
Said nobody onshore ever who has had to eat hours fixing the offshore deliverable.
Gen Zers offer little to no quality at all. For those of us with brains, it’s economically prudent to hire from India than hire the domestic/entitled talent.
No NGO money coming in.
I think they are hiring from India at very low CTC from top colleges IIT’s.
They will give rigorous training, then work with low increment and few promotion, after few years reasons and last “Layoffs”.
Repeat hiring and so on…..
They are laying off people who is not on the PPMD track. No point of keeping heavy career SM if new talent is making to SM level.
Wow just wow
Welp this makes sense now, Deloitte just announced plans to hire 50K employees in India…when is India gonna wake up because their working conditions are the stuff of nightmares.
That’s offshoring … People in india work for 20% of the cost, don’t b*tch around for wanting to bring their pets to the office or needing a real purpose in their job and do the work 90% as good.