The first reports of Deloitte raises for audit professionals have come in from the Mid-America Region:
I’m surprised to see absolutely nothing posted about Deloitte raises. We have had the raise discussions in my office for staff and seniors, no double digit raises in sight. AIP (bonus) for Seniors and above. Managers- TBA.
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On Monday we learned that Deloitte Tax had a STD and now there’s more chatter about the firm’s performance that could maybe, possibly affect comp for this year:
A new set of video blogs came out from the northeast regional managing partner. He announced double digit growth in perdiods [sic] 9-13 of FY10 and a plan for “continued double digit growth through FY11″. I know everyone is getting antsy over compensation (discussions are supposed to take place beginning next week, with raises hitting on the 9/3/10 payroll), and they keep dropping comments about “substantial raises” and “double digit growth.”
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After coming out the near-death experience thanks to the Florida 3rd District Court of Appeal, you’d figure TPTB at BDO would continue shoveling the good news out while they could. On the comp front, a tipster tells us that while there are rumors that raises are bonuses are coming, no one has a clue as to what they’ll be:
Can you run a discussion on BDO compensation increase and bonuses? Raises would be effective 10/1, and currently there have been no formal communications from senior mgmt regarding this topic. In the local offices, there has been word that there will be raises and bonuses, but no numbers have been thrown around.
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Rejoice Deloitte Tax Troops. Your wait is nearly at an end, although from the sounds of it, you might be disappointed:
Word from our office tax managing partner has been that the compensation pool for raises is about 4-5%, which I think is going to make a lot of people pretty unhappy. But I guess with all the rumors out there and with Deloitte being the last of the Big 4 to release comp numbers, they decided to hold this forum. I’m expecting the same song and dance (weak revenue, highlighting all the other benefits besides comp) to try to stem the tide of people leaving. Since January, we’ve lost about 15 people (at all levels) out of about 110 in our office tax practice, and I doubt the news regarding comp will keep others from jumping ship.
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By now everyone is borderline freaking out due to Deloitte partners’ ability to remain coy throughout this process, using words like “substantial” and “better than last year” which, considering the love shown last year, is ironically accurate.
Annnnnnddd it continues. A source dropped us part of an email from Nick Tommasino, Deloitte’s Chairman and CEO of audit and enterprise risk services:
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Last time we checked in on E&Y in the comp department, convos on promotions and ratings were to have gone down by last Friday. That appears to have happened right on cue and now we’re told that starting this week, the numbers will be coming down from 5 Times Square:
Latest regarding compensation (exact $ amount) in both FSO/New York and Northeast/New York regions is discussions should start today and run for 2 weeks. Big push right now in all business units to try and appear to care about people; people advisory board members have been reaching out for ways the firm can improve.
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One unhappy Mickey G’s employee would like to get something out there:
Now that salary adjustments have been communicated to employees, many are griping at McGladrey – and for good reason.
More than a few people are grumbling about the recent golf signings and ridiculous sports marketing platform as well as the fact the company spent money on a 144-foot cake, but only gave thousands of people 1 to 3% raises.
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He likes ND's chances this year.
Since it’s Monday in late July (and many people probably one old fashioned too many last night) we figured this day would have gotten off to a slow start. Well, we’re in luck! KPMG comes roaring out of the gate today with a little compensation update from none other than John “You can call me Rudy” Veihmeyer and Henry Keizer.
The news? Well, the promotions bonuses have caused some belly aching so the boys thought they would give you a sneak peak at what you can expect come merit increase time:
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