THE MIRROR OF MEDIA

Compensation Watch ’21: Did Grant Thornton Give Employees Briefcases Full Of Money This Year?


Grant Thornton was one other agency final yr that determined it would be financially irresponsible to give its hardworking employees raises in the course of the top of the pandemic, though GT’s revenue in fiscal year 2020 hit a record of $1.92 billion.

However that was then, that is now. We nonetheless don’t know Grant Thornton’s income outcomes for FY 2021; nevertheless, all indications are that it’ll be one other record-setting yr of progress for GT. Plus the firm just announced its largest class of PPMDs ever. So issues appear to be trending in the best course for the Purple Rose of Chicago, however did worker raises for 2021 pattern upward or downward?

To search out out, I went on r/accounting and went by the Grant Thornton comp thread for 2021 and this thread on Fishbowl, the 2019 and 2018 comp threads on Reddit, and the 2017 and 2016 comp threads on Going Concern. Then I calculated the common elevate proportion for every step up in rank or promotion the place information was out there (i.e, A1->A2, A2->S1, S1->S2, S2->S3, M1->M2, and so on).

These averages don’t take into impact elements like location/price of dwelling, line of service, tutorial levels, ranking (meets expectations or exceeds expectations), and bonuses/awards. That is simply the common proportion of how a lot base pay elevated per step up in rank/promotion.

Did Grant Thornton ship the products this time round? Let’s have a look:

A1->A2

  • 9.8% (2021)*
  • 7.5% (2019)
  • 3.5% (2018)
  • 4% (2017)
  • 7% (2016; just one entry)

* Not included within the averages as a result of it’s such an outlier was a 41% elevate for an A1->A2 who went from audit to advisory.

A2->S1

  • 17.8% (2021)
  • 15% (2019)
  • N/A (2018)
  • N/A (2017)
  • 10.5% (2016; just one entry)

S1->S2

  • 17% (2021)
  • N/A (2019)
  • 20% (2018; just one entry)
  • 5% (2017)
  • 5% (2016)

S2->M1

  • 19% (2021; just one entry)
  • N/A (2019)
  • N/A (2018)
  • N/A (2017)
  • 18% (2016; just one entry)

S2->S3

  • 17.8% (2021)
  • 7% (2019; just one entry)
  • N/A (2018)
  • 4% (2017; just one entry)
  • 6.5% (2016)

M1->M2

  • 34.8% (2021)
  • N/A (2019)
  • N/A (2018)
  • 14.5% (2017)
  • N/A (2016)

M2->M3

  • N/A (2021)
  • 8% (2019; just one entry)
  • N/A (2018)
  • N/A (2017)
  • N/A (2016)

M3->SM

  • 12% (2021; just one entry)
  • N/A (2019)
  • N/A (2018)
  • N/A (2017)
  • N/A (2016)

Not like Huge 4 compensation threads, which all the time get a ton of responses on r/accounting or did on GC again within the day, the comp threads for the highest midtier corporations like Grant Thornton aren’t as wealthy (no pun meant) with data. In order you in all probability observed there are a number of N/As above. Nevertheless it’s honest to conclude that raises at Grant Thornton weren’t horrible this yr. At the least you all obtained raises above inflation. However after getting snubbed final yr, had been these respectable for 2 years’ value of raises. Eh, in all probability not. TPTB at GT ought to have thrown some more cash staff’ manner for the ridiculous quantity of labor everybody did final yr.

As longtime GT commenter Chipman69 would say: Congratulations to all the DYNAMIC GT professionals on their DYNAMIC raises, bonuses and promotions!!!!! Might your enhance in compensation and tasks engorge your WHOLE SELF with the INSTINCT FOR GROWTH essential to penetrate shoppers in new CHOSEN MARKETS!!!!!

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