By the sound of things, it’s time for us to open the gate on the Grant Thornton compensation thread.
This is a little strange because, in years past, tips usually start rolling into our inbox in the last half of July. One message we received over the weekend, however, might explain the delay:
Comp releasing tomorrow for everyone. Interestingly we are finding out new info 7 days into the year. A couple of groups couldn’t get their shit together and held up everyone’s comp release.
We haven’t verified that this is the case, but it sounds plausible enough. When we asked for more details, our tipster didn’t have more to offer but did elaborate on the general mood inside GT:
Don’t know which groups, but I believe in advisory. Year end meeting was last Friday and was very positive as far as numbers and outlook go. Generic tier 2 bs about competing with big 4 for audit clients and not trying to compete with bdo and the like. I’m in advisory and don’t have a good feeling for tax or audit success as far as associate/seniors are concerned. I’m sure the partners will do just fine though 🙂
Another tipster from the audit side of the house was more indifferent about things:
our compensation statements just became available yesterday and an email was just sent to everyone showing how to access so it would be great to get thread up. From mine and what I’ve heard we are down a bit this year.
Maybe I’m wrong, but there’s nothing much exciting about Grant Thornton lately. Sure, they can probably take partial credit for the Cubs’ World Series win, but the first tipster’s comment about “Generic tier 2 bs about competing with big 4 for audit clients and not trying to compete with bdo” seems right. GT fights to be considered a top tier firm and above its Tier 2 peers, but it is outmatched by the Big 4 and is in a horse race with BDO and fellow Chicago-resident RSM for the top of the less prestigious second-tier heap.
But the Big 4 vs. Tier 2 thing is mostly an overwrought conversation about prestige. I’ve always thought that if Grant Thornton compensation can keep up with the Big 4’s, then they should compete for talent easily. There is plenty of interesting work to be had with middle market clients, so GT should focus on what they do well and not try to be something they’re not.
Anyway, I’m sure you’ve heard enough of my musing. If you’re happy (about your comp) and you know it, clap your hands and share these details:
- Position, promotion (if applicable)
- City (preferred) or region (we’ll begrudge you)
- Line of Service
- % Raise
- % Bonus (if any)
- Old & New Base
And if you’re not happy with your new compensation, you can always take some infinite vacation.
If your firm is holding discussions about performance reviews, raises, bonuses, et al. this summer, email [email protected] with the details.