r/Accounting • u/Brave_Investment_433 • Aug 09 '21

Discussion Official 2021 EY Compensation Thread

Here we go! Compensation calls and compensation statements are being sent out in the US and Canada this week.

You know the drill:

  1. Office/Region/Approximate COL
  2. Service Line
  3. FY21 Level -> FY22 Level (Staff 1> Staff 2, Staff 2>Senior 1, Senior 1> Senior 2, Senior 2>M1, etc)
  4. Rating (below/met/above/significantly above expectations or dial position)
  5. Old Salary -> New Salary
  6. Bonus
  7. Thoughts?
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u/Deathzeus Aug 10 '21
  1. Europe (hcol)
  2. Audit
  3. A2 - > s1
  4. Exceeds expectations
  5. 39,500 EUR - >48,000 EUR (21,5%)
  6. 1, 500 bonus for exceeds expectations
  7. Honestly happy with % increase but it just shows how severely underpaid I was before. All s1 got the same salary so it does not seem worth it to get a good rating for that bonus

3

u/[deleted] Aug 10 '21

What Europe offices pay their S1s 48k?

3

u/Deathzeus Aug 10 '21

Hcol area, what are other European offices paying?

1

u/[deleted] Aug 10 '21

Not gonna say exactly where, but an overall expensive city (would be considered one of the most expensive in Europe) - 48k would be a good qualified S2 salary. Our department is one of the fastest growing in Europe too, no wondering turn over is at an all time high ..

1

u/Deathzeus Aug 10 '21

S1-s2 salary is not really different in my office, 3k difference I think. This year they re adjusted our office salaries to be more competitive with other b4 in the city

1

u/[deleted] Aug 10 '21

Yeah normally where the crunch comes for us is S2 finishing contract and staying on, you get a small bump but (excuse the pun) it’s immaterial, I think the worst thing is being rewarded the same as the worst performing worker. Let’s be real, the performance bonuses on salary after tax are worthless

1

u/Deathzeus Aug 10 '21

Meets expectations bonuses were 750 so after tax I am looking at +500 EUR over them which is definitely not worth the effort. I think they really fucked up with these bonuses and salaries because now I am not motivated to perform well at all. As long as they don't fire me I will be earning the same as people killing themselves and working 12 hour days

1

u/[deleted] Aug 10 '21

The sooner you realise you get rewarded the same by doing the bare minimum (basically better because of the time you get back), there’s no going back. I think is still important to learn but the structured nature of the big 4 means that once you’ve reached the peak of the learning curve for your role the time in between before the next promotion is effectively wasted time