Hopefully this isn’t what Bob Moritz meant when he was talking about “exciting changes” to the comp structure. This is according to a tip we’ve just received over the Twitter wire. In case you need a refresher on Steve:
Here’s a confirmation email we received a short time ago:
I have a friend who sent me a stream of consciousness via text while he listened to the webcast. Basically, it was no bonuses for the year (apparently everyone on his team started flipping out when they heard that), you’ll get to know how your salary compares to the rest of your group (er, who really wants to know that?), a extra day off for 7/4, and they got Steve to end the webcast by singing and dancing.
SEE UPDATE BELOW:
“[N]o bonuses for the year” apparently means “partners haven’t discussed handing out FYE bonuses and it doesn’t appear that they will.” On the bright side we heard that Steve sang Adele’s “Rolling in the Deep” and “some John Mayer song.”
Based on the conversation below and other chatter we’ve heard, it appears the timing of the payout will not be accelerated rather than “no bonuses.”
Everyone calm down. Steve Beguhn (we’ve finally confirmed the correct spelling) has a long way to go. But dude can sing. And he’s pretty funny.
The only problem I foresee is that I’ll have to start watching the show. For those of you on Facebook (i.e. everyone) you can ‘Like’ Steve here.
What do you guys think of Steve’s chances? Leave your well wishes or your best Simon Cowell critique in the comments.
UPDATE: Just a few particulars on Steve – he’s a Senior Associate in Milwaukee, has been with PwC since Fall of ’07 and interned prior to joining the firm full time. Oh, and he’s not in the office today, so if you’re around Steve, email me.