• Big 4

    Here’s Your Open Thread for PwC Compensation (2017)

    By | June 20, 2017

    You’ve got to hand it to PwC, they’ve really embraced announcing stuff on Twitter. I’m looking forward to the day when people starting tweet their PwC compensation details at @going_concern.

    Anyway, here’s a tweet from last Friday:

    On a personal note, if anyone on PwC’s Twitter team is feeling unappreciated, you’re more than welcome to work for GC as a full-time Twitter hunter to help us keep up on these things. You’ll have to take a massive pay cut and forego lavish perks, but you would get the pleasure of working with moi.

    But never mind that for now. So on the one hand, yes, #PwCPromotionDay. Congratulations to all of you that earned a promotion. Tim Ryan is proud. Captain #TaxIsSexy Mark Mendola is proud. Holy shit, what is Michael Phelps doing here?

    But on the other hand, #raises, #bonuses, #justthankgodyourenotoneoftheOscarsPartners.

    One of the perennial charms of this here site is the willingness to bring formerly taboo subjects out in the open for discussion. None of these subjects have been more popular than that of compensation. Last week, readers started reaching out, asking for our annual thread and it’s about time we got this party started since PwC is already in front of this thing. Here’s what one tipster had to say about the mood in the DC area:

    A few of my Tax friends are seeing some good bonuses ($8k-$10k) and a few Advisory folk are seeing good bonuses ($20k) as Advisory fully funded the bonus pool as opposed to last year.

    For the newcomers, traditionally, people have shared things such as:

    • Position, promotion (if applicable)
    • City (preferred) or region (we’ll begrudge you)
    • Line of Service
    • % Raise
    • % Bonus (if any)
    • Old & New Base

    Part of the subtext of these annual threads, I think, is that employees of accounting firms — large and small — have the right to openly talk about their compensation. Sure, you might have to tolerate some trolls and other mildly despicable internet behavior, but in general, this is a safe place where you can talk about what you’re getting paid and try to get an idea if that’s fair. Or maybe it’s just a good chance to get something off your chest vis-à-vis your firm’s compensation (e.g. Your firm’s tradition of paying bonuses in chocolate gold coins is not appreciated.)

    This glorious time of year on Going Concern always starts with PwC compensation discussions, but over the summer, keep us informed about your firm’s communication to its employees about performance and compensation so you can join in the fun. These yak sessions about money aren’t just for Big 4 firms; everyone deserves the chance to kvetch or boast about the money they’re making. In this instance, the more is certainly the merrier.

    Okay, we’ll dispense with any further comment and let you all take it from here. Try to keep the noise down.

    • iamthelolrus

      A2>A3
      Midatlantic
      Service line change (RA>MC)
      ~25% raise, 60k>76k
      2 rated
      3.2% bonus (still in assurance bonus pool, hence garbage bonus)

    • Big4Veteran

      Private Industry
      U.S.
      Same job as last year
      2 rated
      $0 raise
      2.3% bonus

      • Reasonable Assurance

        You really received a 2.3% bonus? Lol.

      • Kenny Banya

        Boooooooo

    • Big4Blowhard

      Big 4 Partner
      Assurance – San Francisco
      30% raise, salary now $850K
      10% Bonus
      Retiring at age 52

      The American dream is alive and doing well, my friends

      • Sammy K

        Partners don’t make a salary. They get equity distributions. Also, $850K after a 30% raise in SF is pretty shitty.

        • Big4Blowhard

          You’re just jealous that you have a fat wife and drive home every night in a beat up Hyundai

          • Sammy K

            It’s actually a Honda. And one response hardly constitutes trolling.

          • Sammy K

            lol

    • Big4Blowhard

      While the rest of you get to drive home in your beat up Hyundai accents, I’ll be driving home in my brand new range rover, and I’ll be making sweet love to my 28 year old wife, whom I met in Chicago at a partner conference last year. Boo yah!

      • Biff Tannen

        Tired of being crushed by the gut you’ve incurred from years of eating shitty take out, she’ll inevitably cheat on you with Chad Thunderkoch, 25 year old tennis playing investment banking superstar, and then divorce you, take half of your money, rinse, repeat.

      • peakfreak

        Forgot to mention that’s your 2nd+ wife. Also, only 50% rich – the first wife took the kids and some of that profit sharing.

      • sludgemonkey

        She will be warmed up, I am on my way over soon.

    • ANONBIG4

      S3->M1
      NYM
      Assurance
      18.2% raise; 10.7% bonus
      $93k->$110k

      • Guest

        I have my comp meeting next week, but I’ve heard rumors (prior to it being feasible that anyone has had comp meetings) that they level out M1 Salaries within the markets across individuals. Is this true?

        Were you Tier 1 or 2? Given they took contribution awards away, 10.7% bonus seems a little disappointing.

        • DMoney

          They also give you the new manager milestone bonus – 25% of your new salary (oh wait, I guess they dropped it to 20% like a month ago – SURPRISE!). And performance bonuses are based on your title the previous year, so 10.7% as a senior 2 in assurance doesn’t seem unreasonable.

        • ActingPartner

          Not true. I was an early promote to senior and manager. By your logic, I should be making the same as someone who took the regular 5-6 year track. This isn’t the case. In fact, I was somewhat penalized by not breaking six figures because I made early manager.

    • Bulbasaurus

      A1 > A2
      Greater Texas
      Tax
      17% raise
      4.2% bonus
      55,500 > 65,000

      • iamthelolrus

        1 rated?

        • Bulbasaurus

          Yes

    • NewbiePwC

      S2 > S3
      Northeast
      Tax
      115k to 120k
      15k bonus
      2 rated

      • Pdubsyea

        Wow tax is rolling in $. Do you have a JD? M3 in assurance is barely making 110k base!

      • ActingPartner

        Wtf? What are your higher ed degrees? An S3 in Northeast (and not NYC) making 120K is crazy.

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    • disqus_4azGEjSBPY

      A3 > S1
      2 rated
      Missouri Market
      Assurance
      12.5% raise
      bonus 3.3% of new base
      Old base – $56K
      New base $63K

      • Basicbb

        That’s a low base for A3. I’m a1 and started at 55k in assurance SE market

      • IndenturedServant

        Congrats, you probably enjoy a higher standard of living than a junior partner in NYC.

        • yep13

          right?! that salary is maybe 15k lower than a San Jose or SF senior, and the cost of living in the bay is probably 300% more

    • Commando

      Retired partner. 1.9% increase. $235,000. No bonus, we only get inflation, but we did get business cards last year.

      • Reasonable Assurance

        Sad part is they retire with larger pensions than that.

        • Commando

          Depends on how long ago you retired. I have made cumulatively more in retirement than I did as an active partner.

    • always angry

      S1 – S2
      Chicago
      Tax
      9% raise, 70K- 76K
      Tier 3
      2.1% Bonus

      • Horace

        70k for a first-year tax senior in Chicago is lower than what I would have expected. Pretty nice raise at your tier.

    • Shin Splints

      M1>M2
      Chicago – Tax
      8% raise
      14K Bonus
      1 Rated
      New Base 122K

    • Franchise

      A3>S1
      SF Assurance
      1 Rating
      15.8% raise
      66.5K to 77K
      5K Bonus

    • Otis

      S1 -> S2 Assurance
      Greater Texas
      T1
      11.4% raise / 13.5% Bonus
      New Base: 78k

      • Big4Burnout

        I know cost of living is low down there but as an S2 shouldn’t you at least be above $80K?

    • Franchise

      A3>S1
      SF Core Assurance
      1 Rated
      66.5K>$77K
      $5K Bonus
      Comp this year is…whatever

      The 2016 PwC thread was probably GC’s most commented-on article last year. Didn’t even keep this on the front page long enough for people to have their comp meetings this year.

      • Shaqtinafool

        You’re getting shafted.

        • Franchise

          Shafted how? In the sense that every decent Big 4 client service employee located in the Bay Area is?

          Or some other way?

          • Big4Burnout

            Sounds like you need to start looking at other options. For a top rating, you are getting shafted. Head somewhere where you get paid based on the efforts you put in and hard work is actually rewarded. [email protected]

            • KevinfromAccounting

              All bay area Big 4 assurance is getting shafted but at least S1s (3rd year) at EY were making $75k last year. Guessing 4th years will be between 80-85k + bonus this year.

            • Big4Burnout

              Still getting shafted. Email [email protected] for other opportunities – totally confidential don’t worry.

    • OverworkedUnderpaid

      A1 -> A2 -> A3
      Midwest Market (Lower COL office)
      Core Assurance
      1 Rated (1 Rated in PY too)
      “Acting Senior” for the past three months
      94% Current Utilization (Over 100% for most of the year)
      $45k -> $51k -> $56k
      9.8% increase (13% in PY)
      $3k bonus ($1.2k in PY)

      This thread should definitely be pinned to the Front Page, it’s already fallen off without many responses (Career Outlook Meetings seemed to happen a little later than last year).

      • ActingPartner

        You should have pushed for senior 6 months ago

    • PdubRockies

      S1>S2
      Denver Tax
      Tier 1
      16.4% raise
      8.2% bonus

      Total Comp w/bonus $70.5K>$83.5K

      Was told that the ranges were lower this year because we exceeded net income goals, but didn’t meet gross revenue. Sounds like a pretty bullshit excuse to a bunch of accountants. Along with the decrease of 20% for upcoming manager retention bonuses, seems like there’s some belt tightening going on that they don’t want to openly admit. They are limiting experienced hires and wanting year round busy season now, with comp almost completely tied to util alone.

      • yep13

        right….util=comp. rbut, then….be under budget on everything! No reward for being efficient, it’s not my fault they do not have enough work to keep me at 85%+ year round.

    • Guest

      A1->A2
      ATL
      Assurance
      Tier 3
      5.8% Raise, 51k->54k
      1.3% Bonus, $700

    • SuperSquirrel69

      A2>A3
      Central Market
      Assurance
      6.7% Raise
      53.5k>57k
      3 Rated*
      2.8% Bonus ($1500)

      *Was advised that I was rated as a “high three” because of the client I was on. If I would have been on a public client, was told I would have been a two. Worked longer hours than our public company client staff, so the explanation doesn’t make any sense.

    • PwC_Fish

      M2>M3
      NorthEast
      Tax
      135k>145k
      11k Bonus
      2 Rated

    • Pdubber

      A2>A3
      Midwest (OKI)
      Assurance
      11% Raise
      54k -> 60k
      $3600 bonus
      1 rated

    • Miserableauditor

      A2>A3
      NYM
      Core Assurance
      10% raise, 69K
      1 rated
      5% bonus (3.5K)

    • Namelessauditor

      A2>A3
      NYM
      Assurance
      6.1% Raise, 64K>68K
      3.1% Bonus

    • PwC112233

      S1 > S2
      SoCal Core Assurance
      2 Rated 11% raise
      $72.5K > $80.5K
      Bonus $7.5K

    • Big4survivor

      S2>M1
      Northeast – Tax
      20% raise, new base 110k
      12% Bonus
      1 Rated

      • ActingPartner

        Don’t understand how the logic works.. Wash Metro is in the same “band” as Northeast, and I received the same 20% raise, yet was rated a 2. You definitely got the better bonus!

    • Horace

      A2 to S1
      NY metro Tax – not manhattan
      3 rating
      29% raise, 2% bonus
      65,000 to 84,000 base

    • jay.story44

      S1>S2
      NYM, Risk Assurance
      ~25% raise, 79k>98k
      1 rated
      ~17% bonus

    • Iggy

      A3>S1
      Tier 2
      Boston
      Assurance
      ~13.2%, 61.5k>69.6k
      3.7% bonus

      • Big4Burnout

        Less than $70K as a senior in Boston after waing 3 years? You can do much better. Start looking. [email protected]

    • areyoufuckingserious

      S2>S3
      Assurance – Mid-Atlantic
      ~9% raise, 72k>78.5k
      6k bonus
      2 rated

      • Big4Burnout

        That seems pretty low. Where is Mid-Atlantic? Could be anywhere from Baltimore to Richmond or even farther north/south.

        • areyoufuckingserious

          At PwC, Mid-Atlantic is DC metro, Philly metro, and Richmond. I’m in Philly.

          I’m not thrilled but I’ve looked around a bit through recruiters and on my own, and it doesn’t seem likely I’ll earn more if I leave, currently.

    • ActingPartner

      Position: S2 -> M1
      Promotion: Manager
      City: Wash Metro
      LOS: Tax
      Rating: Tier 2
      % Raise: 20%
      % Bonus: 8%
      Old & New Base: 79,600 -> 95,520

      Not thrilled about my rating or raise, but it was explained to me that because I made it from associate to manager in 3.5 years, that it would be virtually impossible to break six figures. Probably waiting it out for my 20% bonus next April and see how next CRT goes before considering the switch to private.

      • Reasonable Assurance

        20% raise… lol how can you be upset

        • Tax Guy

          Acting partner…deserves 7 figures.

        • ActingPartner

          I wanted Tier 1 and 25%.

      • Sebastian Monroe

        How did you possibly go from associate to manager in 3.5 years while being tier 2?

        • ActingPartner

          That’s my issue with all of this… I was performing at a Tier 1 capacity

    • pwcrando

      A2>A3
      NYM
      Audit
      2 Rated
      61K>66K
      $2500 bonus

    • ChampagneePeaches

      A1>A2
      Risk Assurance – Northeast
      3 Rated
      57k>64k
      2.5% Bonus

    • Shine

      S2 to S3
      Bay Area
      Tax
      1 Rated
      9.4% Raise
      14% Bonus
      $85K to $93K

      People I have talked to have said that raises were bad, but bonuses were good. I thought my raise would be better since I was 1 rated.

      • yep13

        I was only 3 rated, so my raise was much better than my bonus. S2>S3 9.7% raise (88k-96.5k)….2.5% bonus

    • yep13

      Tax, SJ. S2>S3
      ~9.7% raise 88k>65.5k
      2.5% bonus (meh)
      3 rated

      • Friend

        65.5k + 9.7% is 72k. What am I missing?

        • yep13

          sorry…typo. Started at 88k, now at 96.5k.

    • Shaqtinafool

      A3 > S1
      Greater Texas Core Assurance
      1 Rated
      $63k > $72k (14%)
      6% bonus

      Why is this comment section so sparse?

      • Friend

        My discussion isn’t scheduled until the 12th. 😩

    • EastCoast22

      S2 > S3

    • TheB4Newbie

      A2–>A3
      Midwest, Tax
      Tier 2 rated
      11% base raise: 58K–>64.5K
      2.3% bonus: 2,300 (sad!)

      • Tax Guy

        2.3% of $58k is not $2,300.

        • peakfreak

          A3–>A2

      • TheB4Newbie

        Oops..too sad that I cannot remember my bonus%… …2.3% was my PY bonus% (also tier 2), CY is actually 3.9%, still sad, bigly! lol

    • B4TaxFiend

      A2 > S1
      Northeast (Boston)
      Tax
      Tier 1
      18.5% raise
      4.9% bonus
      62.2k > 73.7k

    • Tom

      Chicago tax. Associate. STILL HAVE NOT BEEN INFORMED. New salaries became effective July 1, so I am currently working without actually knowing my salary. Not the only one in my group.

      How is this ok?

      • Pdubber

        Have you been banging down doors to get in front of your relationship manager?

        • Tom

          No – like I said this is many people. It is not an oversight. They are intentionally waiting until the last week right before we see our July 15 pay stubs to tell us.

          Wondering if they are clueless that people are pissed or just don’t care. Either is possible.

          • Friend

            That makes no sense. Put some time on your director’s / partner’s calendar.

            We knew weeks in advance when they’d be allowed to tell us. If you weren’t proactive to schedule your CRT discussion, you shouldn’t be complaining. I haven’t had mine yet, but only because I’ve been traveling and wanted an in person meeting.

            • Tom

              I edited my answer after you responded, but as I said I do finally have a meeting scheduled (relationship partner ignored my first email asking to touch base and schedule, got a request from his admin assistant today).

              Some in my office have had total radio silence.

            • Franchise

              Probably apathy. I haven’t heard of an Associate successfully negotiating anything regarding comp before. Though that’s in audit not tax.

              Window was communicated months back, so the fact that you haven’t been informed even though we are still within the window they told you about months ago, is not alarming or odd.

    • Don

      Lake Erie – Tax
      A1 > A2, 2 Rating
      12.5% Raise
      4% bonus
      48,500 > 54,500
      2k bonus

    • Sartorial

      A2>S1
      New York Metro
      Tax
      Tier 2
      $110,000 -> $124,000 (~12.7%)
      Bonus: ~$3,000
      Have a JD and work in a specialty group.

      Pretty disappointed with this in a promotion year, especially since similarly rated non promotes got about 10% and I got 10% the year before. At tax conference, the experienced associates from my practice pretty much agreed that we all wanted to hit $130K this year to feel like we are valued. Our group’s comp is definitely behind EY and massively behind the law firm scale.

      • Reasonable Assurance

        Lol 124k as a senior associate. I guess the JD does pay off.

        • Sartorial

          It does, particularly in a specialty group such as M&A or International. Regardless, the issue is that top law firms (and even some mid-size) start at $180K plus a $15K bonus and EY hires campus hires from NYU LLM program at $135K.

          • Reasonable Assurance

            Good on you man. Do you mind asking roughly how old you are? under 28? If so that’s not a bad salary to have at the age. You’ll be crushing it within a few years.

            • Tax Guy

              Based on attitude, definitely under 28.

            • Sartorial

              I am over 30.

            • SMALL4

              LOL

          • Tax Guy

            But you are not at a law firm and you are not at EY…so why complain? No matter where you go, there will always be positions outside that pay more and less. $6,000 after taxes is more like $3,000…that’s $250 a month.

            • Sartorial

              The issue is not that the $6,000 raise or $250/month after taxes is a huge deal. The real issue is that they are setting us up to make less than many managers already made last year by the time we are managers in two years. Something seems off.

    • valentine009

      S2 > S3
      Washington Metro – Assurance
      – 6% Raise
      – 6% Bonus
      Tier 3
      92,000 -> 97,500

      • Big4Burnout

        You gunning for manager? I couldn’t imagine staying for 2 years as a senior, let alone 3. Much better out there.

      • ActingPartner

        92K as an S2 in that market?

        I’m an M1 making less than you as an S3.

    • Castle

      S1 > S2 + Audit + Dallas + 75K (5% raise) + 5% bonus = a whole lot of bullshit

    • nvmnvm

      S1 > S2
      NYM Advisory (JD)
      Raise: $135K > $138K (2.7%)
      Bonus: $12.2K (9%)
      Tier 2

      Apparently something like $142-3K is the max base for Seniors in NYM, meaning my raise will be negligible next year as well.

    • IhateMyJob

      A2>A3
      Philly Assurance
      Tier 3
      Raise: 9.8%, 61,500>67,000
      Bonus 1.6%, 1K

      Tier 2 in my group got like 14% raise with low bonus, and Tier 1 got 15% with 5K.
      Seems dumb to work hard for the Tier 1. Not upset with my raise I guess.

    • NoName

      A1 -> A2
      Boston
      Tax
      1 rating
      15.1% raise, $57k-$65,600
      4% bonus

    • Beans6

      A2>S1
      Chicago Tax
      Tier 2
      Raise: 20%, 60,000>72,000
      Bonus: 1%, $800 (Performance year utilization was 98%)

      I feel like I’m getting screwed.

      • ActingPartner

        You were promoted early, and your salary seems in-line with expectations regarding that.

        I think overall, tax bonuses were underwhelming..

    • disqus_Pmp6q3j8OY

      S2 > M1
      Atlanta Tax
      Tier 2
      Raise: 21% (74,500 – 90,000)
      Bonus: 9.4% (7,000)