June 19, 2018

Raises

Here’s Your Open Thread for BDO Compensation Discussions (2016)

BDO is a firm on a roll. Just last week they announced a third straight year of 20%+ growth in revenue to $1.29 billion. They admitted 39 new partners this year, the largest class since we began covering those promotions. They're snapping up firms left and right. Yep, everybody sounds pretty happy. Oh, who am […]

Unhappy Accountants: Go Get a 10% Raise

Are you sick of your job? Overworked? Unappreciated? Disrespected? Micromanaged? Ignored? Underdeveloped? Harassed? Thinking to yourself, "I don't get paid enough for this shit"?  Well, you're right! You can totally go somewhere else and experience the exact same thing for 10% more than you're earning now: Businesses are vying for accountants, financial reporters and data […]

CGMA Twitter Account Figured ‘Accountants Want Raises’ Was Stating the Obvious

No superfluous tweets here! 25% of #finance and #accounting employees would like to be rewarded for their hard work with a promotion. pic.twitter.com/Xmn5urn4f9 — CGMA (@CGMA) January 7, 2016 Just remember, make that promotion to a position that doesn't involve managing people. That'd be great.

Comp Watch ’14: KPMG Variable Comp is Out and Some Folks Aren’t Pleased

This just arrived in our inbox this morning, let's skip the formalities and get right to it: FY15 variable comp ranges for us behind-the-scenes slaves were announced today, 12/11. Who are they kidding? Don't they realize nearly everyone at Manager and below gets a 3 rating no matter how much they do, how much they […]

What Kind of Raise Can a New CPA at a Publicly Traded Company Expect?

Looking for the right way to tell your colleague he has a hygiene issue? Not sure if dark khakis go with that dusty blue button-up shirt? Want confirmation that you haven't sold your soul to the Devil himself? Get in touch with us and we'll do our best to help without making you cry. Hello […]

Comp Watch ’11: Follow-up on KPMG Transaction Services Midyear Adjustment

Sounds like the previously mentioned potential raises got the John Veihmeyer stamp of approval.

Follow up on the midyear comp email from last wk- srs get 4% and mgrs get 5%. Does not apply to corporate finance and restructuring. Call is still going on right now trying to sell KPMG big time and convince people to not leave

We’ve been told that the raises are effective immediately. We’ll keep you updated.

The Latest Results from the Deloitte Mid-year Salary Adjustment

Deloitte Raises 2.0 rolls along with the latest news from New York and Cleveland. Continue to keep us updated.


New York:

I am a senior at Deloitte based in New York.
Our engagement partner and I had a brief meeting- a 8k raise for seniors.
The second year was told a $5k raise for his level.
My manager also spoke to a partner and was told a $6k raise.
Nothing for new hires and senior managers.

There will not be a retrospective adjustment to pay us more for the past two months as if the increase happened in end of August.
The increase is effective starting 11/1/2010, meaning the first paycheck to reflect the increased pay will be 11/12/2010.

Cleveland:

1st years – $0
2nd years: $2,500
All seniors: $4,000
All Managers (excluding sr. managers): $3,000
Sr. Managers and up: $0

UPDATE – Friday circa 12:50 pm:

The latest from Houston:

2nd year: $3,500
Seniors: $5,000
Manager:$6,000

Comp Watch: Early Returns at Ernst & Young Keeping Pace with PwC

So far there are several reports of low to mid-teens and some as high as 20%, which some simply don’t believe.

We do have some specific details for assurance associates in New York and they don’t sound terrible:

NYC first year associate went from $55k to $64k, associate raises [are] coming in around 11-18%


So if you’re keeping score at home (and we know you are) it appears that the partner at E&Y who prognosticated that raises at his firm would beat PwC’s Raises appears to be right in some cases but perhaps not all.

Sooo, Ernie troops – are you happy? Disappointed? Suicidal? Ready to jump ship? Or calling your friends at PwC to brag how you’re keeping the pace? Discuss.

Earlier:
Are Ernst & Young and PwC Neck and Neck in the Compensation Race?

AFP Survey: Financial Staff Salary Growth Outpaced CFO’s in 2009

This story is republished from CFOZone, where you’ll find news, analysis and professional networking tools for finance executives.

Salaries of financial executives and their staff continued to outpace national averages in 2009, and raises were also larger than other white-collar professionals. But the pay of lower level finance professionals outpaced those of CFOs and other senior-level types.

Average annual salaries for financial professionals increased by 2.5 percent in 2009 and were 13 percent above the national average, according to the Association for Financial Professionals’ 2010 compensation survey.


But like other workers, CFOs, treasurers and their staff also enjoyed smaller salary growth than what they had been used to. The average salary increase for financial professionals in 2009 was a full percentage point below the average increase reported in 2008. Salaries went up 3.4 percent in 2008 and 4.5 percent in 2007.

But in previous surveys, executives and management-level financial professionals earned the largest salary increases, but that wasn’t the case in 2009. Instead, staff-level financial professionals experienced the highest salary growth, with a 2.7 percent increase on average compared with 2.5 percent for executives and management.

On a more granular level, budget analysts averaged the highest base salary increase within staff professionals, with a 3.4 percent increase. Treasurers saw the highest average increase of all senior executives, with a 3.2 percent boost, and assistant cash managers received the highest average salary increase within the middle management tier, with a 3.8 percent increase, also the highest increase of all positions.

With high losses at banks and the prospect of regulatory changes impacting Wall Street as well as great technological innovation in 2009, financial professionals in the Western half of the US earned the most, although those in the East had earned the most in prior years. Financial executives at technology companies earned the most in 2009.

The latest AFP compensation survey also found that the economy had almost no impact on bonuses of financial professionals. In 2009, 71 percent of organization awarded incentive-based compensation bonuses to financial professionals, down four percentage points from 2008. Incentive pay in 2009 was stable at about 14 percent of base salary.