Market Report: Compensation, Bonuses & Benefits
As you know, corporations can be slow to change HR policies and office practices. Windows to transform a corporation's culture are often far and few. In a worker-short market, the Big 4, especially PwC, are making significant strides to keep their talent from going elsewhere. Below is a summary of benefits and bonuses to see if your tax department is keeping up with the competition.
With unlimited PTO, remote employment options, parental leave, and salary increases that outpace inflation, the Big 4 are quickly making changes to retain their talent in such a tight market. PWC has announced that 9% merit increases will be the standard this year for high performers, and the other three are anticipated to follow suit. Merit increases can range from 9% to 18% annually.
"We're embarking on a three-year journey to reimagine our PwC people experience. To give you the power to build a personalized career tailor-made to support your development, well-being, purpose, and ambitions. We call it My+, a $2.4 billion investment to take bold action and bring our vision to life over the next three years to empower you to reach your full potential at every stage of your life." more on PwC benefits here.
Senior Analyst/entry level Manager
Target bonus of approx. 10-20% base compensation with up to approx. +30% based on the Company's performance.
Vacation: 15 days PTO +holidays
Bonus: 20-25% of eligible base salary
Vacation: 20 days PTO +holidays
Bonus: 25-30% of eligible base salary
20-25% annual equity
Vacation: 20-25 days PTO +holidays
Location: 1-2+ days work from home is for the most part the corporate standard, while candidates are seeking for 2-3+ days WFH (usually Mondays and Friday's WFH)