Here’s the lowdown from D-town, according to a tipster:
Deloitte US CEO sent email this afternoon re: accelerated raises, promotions and bonuses. Instead of reviews/discussions over the summer and implementing in September, reviews/discussions will be done in Spring by May 30 and implemented in June.
Also, AIP bonuses will occur at the same time AND (big finish) given the “extraordinary circumstances,” an additional pool of money has been set aside to pay special awards to those who are traditionally not eligible for AIP.
Essentially, every single employee who started with Deloitte by 3/1/21 will be bonus-eligible this year.
As you can see by skimming through the 2020 Deloitte comp thread on Reddit, many Green Dotters disclosed their most recent piss-poor raises. And with some accountants observing higher-than-normal turnover at their firms recently, maybe Deloitte is doing this as an incentive to keep more fannies in seats?
Or it could backfire, now that comp discussions will begin in spring instead of September. As one Redditor said:
So yeah, people can quit a quarter earlier.
Non-Deloitters who commented about the new raises/promotions time frame on Reddit gave the firm a pat on the back, with one saying:
Hope the other Big 4 follow in their footsteps
The post Compensation Watch ’21: Deloitte Staff Gets Some Encouraging News About Raises and Promotions appeared first on Going Concern.