Are a total joke this year :(
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Well, if it was a +ve figure, then it was more than mine.
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Well, yeah, but you just work in the wrong place all round, it seems
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Anyone got payrise info (and end of yr grade)
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Not yet, all gone suspiciously quiet
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10% max payrise
0% minimum payrise
Bonus is too little to mention (honestly circa 3% for top performers)
How do the partners justify this? Please tell me.
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See thread 49151 for this is justified.
It's hardly surprising the bonus and salary rises are poor this year given DC's abysmal performance. Anyway, the distribution of performance ratings is down (lots of people missing their targets), which pulls down the averages. I reckon a lot of people will be on redundancy notice by the time they come to cash their bonus cheques.
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On this figure of 3% bonus for top performers
1. Is this confirmed or speculation?
2. By top performers do you mean people who were awarded a rating of 5 in their annual review?
Deloitte's performance in the last financial year (the first half especially) was very strong, as evidenced by hitting the ambitious"2-in-2" gross revenue target, and their employees should be rewarded for that.
The bonus pool should be a reflection of the firm's performance in the previous year.
If '08 was a poor year but things were looking rosy for '09 do you think that the '08 bonus pool would be raised in anticipation of good times on the way? Hell no.
By the same token the '08 bonus pool should not be slashed due to prospects looking down for '09...although all signs point to this happening
Has anyone else on here had their salary review call?
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Not yet. Apparently there has been a delay due to the VR offers.
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The 2-in-2 was based on heavily "massaged" figures. To mix a metaphor, when the chips are down, the truth will out. That is exactly what has happened. Certain partners were inclined to fudge the 2-in-2 figures in order to maximise their payouts. There's no way you can cover the up that kind of shortfall forever though - it has come out in the books right in time for the end-of-year pay calcs for the non-partners.
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I got the Salary Review call a few day's ago and was surprised by a) how low the bonus was - just over 3% as others have mentioned and b) that my salary seems not to have gone up by as much as it should have - I'm a newly minted SC and will be on £49k which is a couple of grand less than I was expecting.
Oh, and I got a 4 in the year ends.
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The real truth is the Firm have to get rid of some people and cut costs. The plan is as follows:
Give some staff bad grades and hope some of them leave
For the rest, give them avrage/good grades but low bonuses and very low payrises hoping they will leave.
The net result will be an increased attrition level and of course a reduction in headcount and thus cost without expensive payouts or media reported layoffs.
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49k seems pretty low for a SC Bob. What were you on before, as a 2nd year C, if you don't mind me asking?
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Totally agree with FT's response, even though Deloitte hit their 2 in 2 target, bonuses have been poor (3% in my case) especially considering most of us have been killing ourselves for the vast majority of the year.
I'm in a similar position to Bob, i was on £46K (Including £5K flexible benefits) prior to this year's pay rise (7%) and feel like i'm being somewhat underpaid considering graduates are being paid £32k (Correct me if i'm wrong). Any idea what SC's are being paid at rival consultancies? I think Deloitte is a great place to work but i am slightly tempted by better salaries apparently being offered elsewhere. Maybe i shouldn't be so bitter and be glad that i'm still in a job.
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Please don't succumb to that school of thought - that's what they are relying on.
How come your salary is so low? You must be regionally based - no?
In this case, bonus was 3.8% and appeared to be set at the level that once the pay rise (4.8%) was applied I would get exactly the same in 2009 as in 2008.
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Was on £43k excluding the paltry £500 Consultants benefits package. That £49k excludes the £5k SC benefits package but given that last year's SCs were starting on around £50k and with inflation running at over 3% most of this year the basic has been fairly heftily cut.
If this is what happens after we achieve the much vaunted 2 in 2 I don't hope out much hope for the year to come.
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Grade - Consultant
Rating - 3A
Pay rise - ~7%
Bonus - ~2.5%
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I was told SC range was £49-60k for 2008/2009. If you were promoted with a grade 4 you should have gone in a bit higher than £49k.
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The bands move each year but your payrise depnds on your previous salary so you can get promoted with a 4 and still end up on 49K.
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