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Walk On! PwC Rumoured to be Implementing Across-the-Board “Promotions”
Posted by The Spy | Posted in Firm Gossip, PriceWaterhouseCoopers | Posted on 9.06am
The outpouring of vitriol for big4 accounting firm PwC shows no sign of ending. Disillusionment, of the highest order, appears to have taken hold at the firm, despite what appears to be… err, good news.
We received the following comments from an anonymous PwC spy last week (thanks!):
In a move to try and retain staff at PwC, the firm has decided to have a “promote all” strategy for this years ratification period in June. As the firm has decided to keep pay rises to a maximum at 5% (with no bonuses), they have decided to implement “across the board” promotions. This is also seen as a step to forcing higher charge-out rates to clients. Clients of PwC should expect no more than three years experience for managers (many who do not have their CA) and one years expereince for seniors accountants (none who have CA). And if you are expecting experience from your Directors, think again, at almost $1000/hour you can get six years of the best. Has anyone heard of brand dilution?
Not only is PwC outsourcing work to India, and apparently charging clients the same, but, if our anonymous PwC is to be believed, it is embarking on a programme to gouge even more dollars to increase revenue at the risk of aggravating its client base.
Will they walk on?
What is your firm doing to increase its bottom line?
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funny how you find stuff out through here rather than through your own company!
This is very true - they are even promoting people before the yearly rush in June to ensure they don’t leave.
An interesting coincidence… Neil Wilson has called the next Town Halls for June 23, the same day the IFS group are to be notified of any rises and bonuses… interesting that the dates are exactly the same??
Rumblings are the real workers are not happy, over worked , not appreciated.
The rumour mill is working almost as much time as the internal workers delivering everyday for the firm.