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Deloitte UK - Pay and Bonus

 
#1 Deloitte UK - Pay and Bonus
27/10/2008 13:52

Mr D

With roundtables nearly over, what do people think we can expect with regards to % pay rise and bonus this year?

On another note, do people think D will have to let some people go next year?

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#2 RE: Deloitte UK - Pay and Bonus
15/11/2008 23:13

Twix to Mr D (#1)

bump.

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#3 RE: Deloitte UK - Pay and Bonus
16/11/2008 13:59

GDL to Mr D (#1)

Pay rise: 3% average

Bonus: 0-10% range

Redundancies in 2009: undoubtedly, judging by the bench over the past six months

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#4 RE: Deloitte UK - Pay and Bonus
16/11/2008 17:50

Guru to Mr D (#1)

"On another note, do people think D will have to let some people go next year?"

Some people are already going before Xmas on negotiated voluntary packages. I predict/confidently expect announcement of a VR programme in mid-January. The decision on CR won't be made until the Firm's seen how popular VR proves to be.

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#5 RE: Deloitte UK - Pay and Bonus
17/11/2008 19:16

Curious to Guru (#4)

Analysts to consultants in 20 months? Thoughts anybody? What is the motive behind this?

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#6 RE: Deloitte UK - Pay and Bonus
17/11/2008 19:34

bunch of jokers to Curious (#5)

Good basis on which to cut people - gives you a reason to fire anybody not demonstrating fast-track performance on the basis they no longer meet required performance standards.

Also a great example of titular inflation - give people better job titles in lieu of pay rises.

Whatever the reasoning, it's bad news for the existing Consultant pool, the quality of which will be diluted (again).

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#7 RE: Deloitte UK - Pay and Bonus
17/11/2008 20:49

il Principe to bunch of jokers (#6)

Hi Guru - interesting insight.

I'm keen to understand how you feel your 'predicted/confidently expected' VR programme in January squares with the barnstorming October results that DC posted, as announced last week...

Also - does anyone have any insight into what a typical VR package might look like in this context?

Cheers

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#8 RE: Deloitte UK - Pay and Bonus
17/11/2008 23:37

DC'ed off to il Principe (#7)

I can only interpret "barnstorming" in the sense that October was mildly less bad than the year preceding. One swallow does not a summer make, though. I personally think CR won't be required if we just don't replace natural end of year t/o. Expect even fewer ppl than usual to return from Xmas "holidays".

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#9 RE: Deloitte UK - Pay and Bonus
18/11/2008 21:37

Anon to DC'ed off (#8)

'I can only interpret "barnstorming" in the sense that October was mildly less bad than the year preceding.'

Factually incorrect. We're up over 16% from last year.

'Also a great example of titular inflation - give people better job titles in lieu of pay rises.'

Again, factually incorrect. What's the point in going up a grade without a pay rise?

' Good basis on which to cut people - gives you a reason to fire anybody not demonstrating fast-track performance on the basis they no longer meet required performance standards.

...Whatever the reasoning, it's bad news for the existing Consultant pool, the quality of which will be diluted (again).'

I think you just contradicted yourself there mate.

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#10 RE: Deloitte UK - Pay and Bonus
18/11/2008 22:17

??? to Anon (#9)

Did you pull 16% out of your backside? That number doesn't even correspond to the UK firmwide figures, let along the UK Consulting figures. I can only think that you're quoting the figure for TI alone.

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#11 RE: Deloitte UK - Pay and Bonus
19/11/2008 00:06

Anon to ??? (#10)

Why would Uncle D be delaying providing feedback?

Do they want to use this years appraisal to reduce headcount?

Is there a cull of managers and senior managers to come?

Why are the attrition levels so high at manager grade?

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#12 RE: Deloitte UK - Pay and Bonus
19/11/2008 00:07

Clock to Anon (#11)

Only time will tell!

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#13 RE: Deloitte UK - Pay and Bonus
20/11/2008 11:44

hmm to Clock (#12)

There were a lot of 1s at analyst level for roundtables this yr. (Descending order of brilliance = 5,4,3a,3b,2,1.)

Is this because big D is hoping to manage out more than usual?

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#14 RE: Deloitte UK - Pay and Bonus
20/11/2008 11:51

j to hmm (#13)

why is deloitte still advertising new roles if they are tinking VR / CR?

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#15 RE: Deloitte UK - Pay and Bonus
21/11/2008 11:03

C3P0 to j (#14)

When you have so many adverts dotted around the place I'm sure it is easy to misplace them!

60%+ SEE here and still not even a "4" grade.. Not sure what is going on!

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#16 RE: Deloitte UK - Pay and Bonus
21/11/2008 11:07

SteveOJ to GDL (#3)

GDL - "Pay rise: 3% average"

Are you sh**ing me?

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#17 RE: Deloitte UK - Pay and Bonus
21/11/2008 11:22

Johhny Knoxville to SteveOJ (#16)

Why, what's your take on it? Hoping for more or resigned to less? I can't see it being too generous this year to be honest.

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#18 RE: Deloitte UK - Pay and Bonus
21/11/2008 11:52

SteveOJ to Johhny Knoxville (#17)

Depending on grade /time in grade, something along these lines:

5 - 9%

4- 7-8%

3a - 6%

3b - 5%

2 - 3%

1- 0-2%

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#19 RE: Deloitte UK - Pay and Bonus
21/11/2008 12:06

Repeat to deleted (#0)

Say it again, someone might listen.

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#20 RE: Deloitte UK - Pay and Bonus
21/11/2008 12:13

whats going on to C3P0 (#15)

There have been some real shockers in the roundtables. No 2s at all, just 1s... is this a subtle attempt to manage people out? Anyone got a 2?

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#21 RE: Deloitte UK - Pay and Bonus
21/11/2008 16:29

curious to whats going on (#20)

wow, how glad I am, that I turned down a DC offer 6 months ago :-)

Sorry for you guys, but keep your heads up!

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#22 RE: Deloitte UK - Pay and Bonus
22/11/2008 10:40

RE curious to curious (#21)

I think you should have taken the offer. D is in much better shape than any of the other big4 to weather this storm.

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#23 RE: Deloitte UK - Pay and Bonus
22/11/2008 11:39

Anon to RE curious (#22)

Deloitte are in better shape to weather the storm becase they pay their staff around 15% less than other leading consultancies. That and the fact that they do not answer to shareholders.

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#24 RE: Deloitte UK - Pay and Bonus
22/11/2008 14:42

D to Anon (#23)

What rot.

DC do not pay their staff 15% less than "other leading consultancies" for two reasons. First, they aren't a leading consultancy. Second, all of the Big4 directly match their salary bands, so it would be possible for one to step out line with the others.

The fact that Deloitte do not answer to shareholders means nothing. The firm instead answers to a group of partners who take more money out of the business and have more short-termist attitudes than institutional investors.

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#25 RE: Deloitte UK - Pay and Bonus
22/11/2008 15:59

Anon to Anon (#23)

C3P0,

Did your career counselor explain why you did not get a 4?

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#26 RE: Deloitte UK - Pay and Bonus
23/11/2008 02:02

! to whats going on (#20)

Most (more than 50%) people got 1 or 2! What gives? Is this just a way of firing people without paying out for redundancy!? What low down sh*ts!

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#27 RE: Deloitte UK - Pay and Bonus
23/11/2008 16:19

Twix to ! (#26)

How do you know 50% of people got 1 or 2? What would you normally expect it to be?

1- 10%

2- 20%

3b- 20%

3a- 20%

4- 20%

5- 10%

?

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#28 RE: Deloitte UK - Pay and Bonus
23/11/2008 16:21

C3P0 to Anon (#25)

Yes, because 5's needed 80-90% SEE and 4's needed 70-80% SEE so 60% SEE was a 4!

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#29 RE: Deloitte UK - Pay and Bonus
24/11/2008 09:12

no this from other consulting companies to C3P0 (#28)

Hi there,

C3PO, I know exactly what you mean, because I know this from other companies. It´s well known in the area of former "A.A.consulting companies".

It is more about having some teachers pets rather than spouting out fair reviews. The "nose factor" is very important...

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#30 RE: Deloitte UK - Pay and Bonus
24/11/2008 21:38

Advice from Granpa D to no this from other consulting companies (#29)

If you are a 1 then the firm wants you to leave and you will be the first to be offered compulsory redundancy - Either wait for the payout or slide out the backdoor

<br>

If you are a 2 then you should take any voluntary redundancy as you will probably become a 1, once the original 1s leave

<br>

If you are a 3a, you are safe and the firm is making very good money from you and as long as you keep accepting their measly bonus you will not be fired.

<br>

If you are a 3b, then you are probably busting a gut and getting not a lot for it, stay put but you will not be getting any early promos any time soon

<br>

If your are a 4 then you should probably be a 5, go for an early promo and leave in the year that you get it

<br>

If you are a 5 then you probably have a brown nose but good on you for getting to the top. Speed up the ladders and then get out after 4 years at partner which you should make at 34 ;-)

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#31 RE: Deloitte UK - Pay and Bonus
25/11/2008 10:05

hmm to Advice from Granpa D (#30)

bah - I hate such kind of stuff :-(

You are damn right I think, granpa D.

That is what I meant one answer above yours...

But my personal experience is telling me, only 10-20 % of all 1`s are O.K. The rest should be rated better than 1.

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#32 RE: Deloitte UK - Pay and Bonus
25/11/2008 11:10

DCF to hmm (#31)

I suppose that depends on where they choose to set the line - it's entirely subjective.

What amuses me is the lack of real understanding that it is impossible for everyone to perform above the norm, and that furthermore the performance of the firm as a whole and the quality of the services it provides cannot be anything other than absolutely reflective of the "average" performance and ability of those working for it.

Hence my "average" performance this year (should it be deemed so, I've yet to hear) is unarguably in line with that of the firm. It would not be unreasonable of me to expect a reward that is also in line with the firm's results. I venture that you will not find many partners or members of the firm's senior management who believe or are prepared to say that the firm as a whole performs poorly or provides poor qulaity services, hence neither do I. And if it's so ****ing wonderful, then so am I.

There is nothing wrong with "average", as long as it's average in a good firm.

It might be nice to think the firm could adopt a more constructive attitude to performance management, recognise decent performance and effort, set is expectations realistically and focus its attention on matters that are actually unsatisfactory.

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#33 RE: Deloitte UK - Pay and Bonus
25/11/2008 11:18

Cynic to DCF (#32)

I agree with DCF. I'd like to see DC raise its standards by getting rid of all its 'below average' partners. After all, without them, the firm is, on average, merely average. We could then repeat this cycle a few times and really raise standards far above the current average.

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#34 RE: Deloitte UK - Pay and Bonus
25/11/2008 11:39

C3PO to Advice from Granpa D (#30)

Granda Pa De - I agree with your post although i think you might have 3a and 3b the wrong way round, 3a is higher than 3b?

Also worth noting that you might get a lower grade if you have been promoted at mid-year.

As a SC for example with mid-year promotion, my end of year grade was knocked down for two reasons 1- i had a decent pay rise just 5 months ago 2- although i had 60% SEE most of it was from being a Cons..

I don't think anyone gets a midyear promo then goes on to get a 5 at year end?

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#35 RE: Deloitte UK - Pay and Bonus
25/11/2008 15:58

of course not! to C3PO (#34)

no, because normally you have higher personal objectives to be reached and you have to find your way into the new role for 1-3 months. Sounds pretty impossible, only predictable in very small consulting companies, where the need is there to quickly build up "leadership". So maybe its possible to "jump" some career stages if you are very very good and have a big chunk of luck with good customers and projects.

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