Following on from our recent stories profiling the attrition rate at Big4 accounting firms came these comments from an anonymous PWC spy over the weekend:

As a PwC audit employee, I can vouch for all the truth of all the rumours posted on this site, and the fact that there are plenty of people who are ready to leave the firm - in one division alone there is talk that half the division is to quit by June this year. The pay at the moment is at a 30-40% discount to the market, there is no reward and recognition for the long hours worked, and you can forget about work life balance. The firm’s new Refresh Policy (to replace TOIL) is a complete joke, which requires you to have a 90% client utilisation where for every hour after that you obtain 25% of an hour you can take off work. What they don’t mention is that you never get the time to take Refresh, as if you do, you always have to make up the time on your client bookings anyway.

The CA support is a joke - what all the big 4 firms secretly want is for new grads to fail their CA modules, as it ties the employees to the firm for longer periods of time in which they can be used at the company’s pleasure and disposal. The offshoring of work to India (known as Our Team in India) rumour is true - clients are disgusted when they find out that work is being shipped off to them to be ticked and bashed. There is a great emphasis on using India to do work, but the strategy is a failed one, as many of the tasks cant simply be ofshore to them. The partners are greedy individuals who deserve everything that’s going to hit the fan this June - if pay and promotions don’t significantly increase this June, watch out

Are partners at your firm greedy? Will staff walk out in June?

Send the Firm Spy your news and views!

Related posts

1. “Neil Down”; PWC Staff Irked By Indian OffShoring This comical, insightful goss from an anonymous PWC spy earlier...
2. ‘Hostile Approach to Technology’; Minter Ellison Lawyer Fury We found the following comments penned by an anonymous Minter...
3. ‘Walk Out Or Be Pushed Out’; PWC Partnership Hotel Bunk Bed Frivolity Thanks to the anonymous PWC spy who sent us the...
4. A Female Wasteland; Alarming Big4 Accounting Firm Partnership Statistics We often hear how among corporate law firms, there...
5. If You Fuz You Lose; Masterminding The Clayton Utz/A&O Partnership Defections We understand that you’re probably sick of reading about it...