Maybe! Nevermind people leaving involuntarily for a second.
We’re hearing from many that people are heading for the exits en masse and it’s getting the bigwigs’ attention. According to one reader:
“[A]pparently its got higher ups here a bit worried. It was an agenda [point] for a [recent manager] meeting. Just wondering how it was elsewhere. ”
Of course, this leads to many, many, many teams finding themselves short-staffed. We just heard that the New York office of one Big 4 firm has been contacting other offices aggressively recruiting audit personnel for huge advisory engagements. This has been received with a resounding “GET BENT” since those offices desperately need the people for their local audit engagements.
It can be easily argued that the reason people are bolting is because of the pay freeze trend or since no one’s job seems to be safe, people are simply taking matters into their own hands.
So discuss in the comments what you’re seeing, hearing, and speculating about regarding people leaving your firm. This may be an office by office phenomenon so we’ll put out to you to give us the details for your office, your team, your firm in general.
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@149 and 150 well said…sick of working my a$$ off to “meet expectations” at a level that would have “far exceeded expectations” at my staff level two years ago. The partners’ definition of a “top performer” seems a moving target that keeps shifting to suit their purposes of rewarding as few merit based bonuses or *gasp* raises as possible. Like 149 I respect my team enough to not bail right before busy season but rest assured if I catch further whiffs of the bullshit that is “no raises in fiscal 2010″ I might well take up my headhunter’s offer to jump ship for a smaller firm and a 20% raise.
made the Sr to Mgr bump at good ole KPMG this year — 10% raise no bonus. Wow–I’m living the dream huh?
What I wouldn’t give for my S2 or S3 raise and bonus this year instead of my Mgr “bump.” I haven’t figured out what I want to do yet, but when I do I have no doubt it will pay a lot more than KPMG (as can be testified to by all our friends who have left over the years).
@152: I know the feeling. I had friends leave 3 years ago and their base was in the $80k range (and some really good bonuses over those years). I bought into the idea of sticking it out till manager. Now I’m not so sure that was the best idea.
Same friends have been promoted and obviously salaries have increased as well. I won’t be brought in above them or paid a higher salary (there salary today, not from 3yrs ago). Sure, my experience in public is valuable…but so is their combination of both private and public. So that’s about $75k I left on the table (over 3 years) and 3 more busy seasons endured.
SWEEP THE LEG
@154, you and your Cobra Kai methods…”This not tournament. This for real.” It doesn’t matter if you sweep the leg. B4 = The Crane Kick. “If do right, no can defense.”
@155
homie don’t play dat!
how do people even worth there these days…this is from an outsider though, wish I could of had the chance
You miss the point of becoming a CPA – it is an entry level qualification for bigger things, not an end in itself.
Turning in my two weeks at D&T Monday. Going to a private-company in town for a 20% base bump, fully paid benefits (including parking) and 15% annual bonus potential. Not to mention a 5k signing bonus to boot. Goodbye busy season, hello 40 hour weeks.
to all those asking why are there so many more kpmg related comments on this site- caleb worked there so i am sure he has many more contacts there than at other firms. i do not think one firm is any different than the other three and all firms acted the same way that all companies did across america. people need to be realistic that you dont get a raise in the middle of the deepest recession of our lives. be happy the big 4 didnt collectively cut salaries b/c many big companies did in the past year
to all those asking why are there so many more kpmg related comments on this site- caleb worked there so i am sure he has many more contacts there than at other firms. i do not think one firm is any different than the other three and all firms acted the same way that all companies did across america. people need to be realistic that you dont get a raise in the middle of the deepest recession of our lives. be happy the big 4 didnt collectively cut salaries b/c many big companies did in the past year
to all those asking why are there so many more kpmg related comments on this site- caleb worked there so i am sure he has many more contacts there than at other firms. i do not think one firm is any different than the other three and all firms acted the same way that all companies did across america. people need to be realistic that you dont get a raise in the middle of the deepest recession of our lives. be happy the big 4 didnt collectively cut salaries b/c many big companies did in the past year
@160-162. No, I’m just asking why the hell you posted three times.
@160 (161,162). From what I heard PwC did no have layoffs in assurance. Partners took a bigger cut. Not the case at KPMG. Probably the more accurate reason for people from KPMG annoyed with how things went down
@164, I will have to disagree with you. P.Dub was a bit more strategic about it. They changed their grading schedule from a 1-5 to a 1-3. Then as if magic, more people than years past were rated as “underperforming”. And poof you got magical “layoff”. Word is there were getting pretty knit picky about what made you “underperforming.
promoted to manager this year – no raise. they gave me the “You’re already in the manager band” bs @ $72K. Guess since I was already doing manager work for the MIA manager, my duties really didn’t change. They mentioned in several Crowe Horwath firm webcasts if your duties significantly changed you would get a raise. Otherwise, everyone has freezes, in addition to the 1 month unpaid time off (although we did get vacation vs. a salary reduction), which was not consistent across all offices.
I am struggling with leaving during busy season, but I am not convinced we won’t get the hose again. I don’t want to stick around to see a Promotion & 2 years of no raises. I would probably flip my $#!t.