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What TF Is Going on With Deloitte Promotions?

Posted on by Going Concern News Desk

It’s promotion time at Deloitte and what is usually a time of celebration has devolved into disappointment and confusion for many. We’ve been tipped to unexpected promotion results and pointed to a thread on r/Deloitte that breaks it down:

I just met with my coach and although I was rated as strong in all categories, the firm has decided to defer my promotion for 1 year. I am 2nd year analyst up for promo to C. I had been told this whole time that promo to C is basically automatic. Coach shared the due diligence feed back with me and nothing bad was listed. I really don’t understand what I did wrong. He doesn’t know either. Came in as exp hire as well, so the title demotion was already a bit of a shock. GPS consulting HC 93k. Hired June 2021.

He did just say that As who haven’t hit the 2 year mark are less likely to be promoted this round cause the firm is worried about not having enough analysts since they aren’t hiring as many. But idk if I believe that.

Anyone else in the same boat?

Edit to add: current utilization over 100%. December utilization was 88%.

According to our tipster, there are “several known instances” of coaches having told their coachees that promotion was inevitable. “Today [yesterday], several of these employees had their promotions clawed back due to a ‘final screening process’ that office PPMDs and coaches did not have insight to.” Our tipster doesn’t know if any senior manager promo candidates were affected, telling us the people they know of were up for consultant, senior, or manager in both risk and financial advisory and consulting.

Numerous people have reported similar experiences, and these aren’t burnouts we’re talking about.

Yes, happened to me too. Util 95%, 100% this year. Higher end for all categories, recommendations from leaders, many strong impacts, etc. Coach said he heard promos were limited due to how the business is performing

And:

Welcome to the party. I was also not promoted. Experienced hire within EP. 5 years of experience. Onboarded as an analyst w/ promotion timeline of 2023. Coach states, likely event is economic uncertainty. He also stated if I had joined a year earlier, my results would have definitely allowed me to get promoted. I’m bummed but, life goes on.

Client work: Strong

Firm work: Exceptional

AND:

I don’t think it’s you’re [sic] coaches fault. Looks like alot of people are getting screwed with promos. Cost cutting and difficulty staffing the higher up you go.

Conspiracy time:

Most likely a tactic to get people to voluntarily leave especially if there was no negative feedback.

I think it’s to get people to voluntarily leave tbh. I wouldn’t be surprised if that’s the case

Only days ago, Deloitte announced layoffs of 3% (1200 people) on a Risk & Financial Advisory all-hands call but the firm insists that overall client demand remains strong. “As growth in select practices moderates, we are taking modest personnel actions where necessary,” said Jonathan Gandal, managing director of Deloitte Services to FOX Business.

Audit and Tax promotion announcements have not been made yet.

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Dammit people, what’s with the amateurs? If you’re going to superficially judge your co-workers, wouldn’t common sense tell you to not to use a work email address?

Holly Leam-Taylor became the latest victim of a viral email craze when her light hearted message to colleagues spread like wildfire across the internet.

In the email, entitled Deloitte First year analysts Christmas Awards, sent on December 8, Ms Leam-Taylor asked her female colleagues to vote on which men in the office they considered most attractive.


A terribly disappointing turn of events, since it was all in good fun:

Miss Leam-Taylor, who studied at Warwick University before landing a place on the prestigious Deloitte graduate trainee scheme, said: “Obviously I never imagined the email would reach this level of awareness. Most people have recognised that what I wrote was in good spirit, but in retrospect I realise it probably wasn’t the best idea.
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Speaking at the family home in Staines, Middlesex, her father Andrew said: “She is very fed up about the whole thing.”

She’s fed up? What about the rest of us? We were expecting RESULTS.

Pictures, STD reports, the works. Now what the hell are we supposed to do? Is anyone willing to pick this up where poor Holly left off? If you do pick up the torch for crissakes, use a personal email address.

We cannot express our devastation further.

Analyst quits over embarrassing email [Telegraph]

BearingPoint Trustee Shaking Down Old Employees for Sketchy Expense Reimbursements

The Washington Post recounts Deloitte’s purchase of BearingPoint’s Federal Services business last year and as you might imagine it’s mostly a glowing piece about various aspects of the deal.

These include revenue growth “The company posted about $1.65 billion in federal revenue this year — up from combined revenue of about $1.43 billion before the acquisition,” the increase in headcount, “Deloitte hired close to 1,400 people, and the firm is now planning to add 160 to 170 more per month,” and expansion of services, “Deloitte had a more expansive set of services and products than BearingPoint — including tax, audit and consulting services — but BearingPoint, with more than 35 years in the federal business, had access to a larger set of clients.”

Sounds swell but there are some loose ends to tie up, most notably the trustee of BearingPoint’s liquidating trust is sending letters to former BearingPoint employees under the Deloitte roof to get some cash back for expenses that were deemed unnecessary for doing typical business in DC Metro:

John DeGroote, whose firm serves as trustee to BearingPoint’s liquidating trust, confirmed his company is now trying to reclaim BearingPoint expenses that were improperly reimbursed — either because the expense should not have been reimbursed or because the employee did not provide the right documentation.

The trust has sent out between 400 and 500 letters to former BearingPoint employees seeking $750,000 in expenses, $250,000 of which has already been returned, DeGroote said.

Since the “the expense should not have been reimbursed or because the employee did not provide the right documentation” you can safely assume that these were the standard three martini lunches at the District’s finer establishments, rub ‘n tugs and other expenses that would normally be a-okay but less-so when a rival buys you out.

BearingPoint acquisition has extended Deloitte’s reach [WaPo]

3 thoughts on “What TF Is Going on With Deloitte Promotions?”

  1. Although A to C promo is straightforward but all S rating may not be enough. A while back when we just have C to start, nothing was guaranteed from C to SC even with 2 rating (that was considered as E) so not a surprise A to C doesn’t happen to all.

  2. I can confirm that this impacts promotions to senior manager too. Advisory, cyber, 5years as a manager with great metrics and a flawless loop feedback survey.

  3. Joined Deloitte as AA, I have been part of Deloitte from Last 5 years, have been top performer every year. And this year also got Exceptional rating. Still didn’t got promoted to C.
    Coach and the leadership doesn’t have any answer to why the promotion didin’t happen. Even if you are a top performer from last 5 years it didn’t happen but there are folks who got promoted ahead of track. Not sure how and why.

    Year ends was really bad and unexpected this year. Maybe the favourable ones got promoted in fast track but noone knows 🙁 . Its still a mystery

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