Company: PwC
Date: 2017-06-28
Overall rating: 3/5
Employment status: current
Experience level: Confirmed

Beware, changes ahead, and some growing cheapness here
Pros: Salaries, except in technology specialties, usually at or just above market.  The firm still does not understand how to properly price specialty jobs in a few market segments, and it relies on a regional model. They have hiring challenges in certain specialties because of it. 

Good professional development opportunities and programs. You can grow here, IF you get time away from billable work to attend programs. This is very difficult to negotiate for busy groups in advisory. The firm pays for travel to many of these events, which is a plus vs. competitors, but often you work your A## off to get any training because there is no provision/backup to leave the day job.

Time off is better than many competitors, with a traditional (never guaranteed) shutdown for the winter holidays, making 4+ weeks off a year a real prospect.

Office time is not required: every PwC staffer has the tools to work from home if they choose and if their project manager allows.  Free company mobile phone helps too.  Lotus-Notes is almost an afterthought anymore, but Google's e-mail and calendar limitations are equally frustrating.

Firm has many volunteer opportunities, and supports time off to volunteer. Donation Matching program is only for certain special events and higher education: would be nice if it could be broadened to environmental, community benefit, and other charities, rather than just a list of top universities who don't need the $$
Cons: In 2017-2018, they've made it more at-risk to get a bonus as they are now requiring a certain billable utilization % goal.  Employees can't always control that, due to client program changes, delays in engagements, etc. Might see a few lawsuits around this, if they don't think this one through better.  

Compensation is not individualized anymore: you're part of a 'cohort' which is developed in tandem with performance, HR, and partner inputs. You're not really at the table for this, and many staff are starting to leave because it's no longer a progressive upward increase in salary due to tenure that it once was. No reward for loyalty anymore.

The firm is still settling billion dollar lawsuits from the 2008-era, and though they claimed the bonus pool was fully funded this year, the total bonus opportunity is still lower than competitors and some boutique small firms, depending on your industry.

401k employer match (25% on first 6%) is poor compared to competitors, combined with some not-so-great investment choices.   Other benefits are average, not stellar, and they keep increasing the % of employee cost without enhancing the plans.

You don't get to advocate much for your engagement assignments. Even if you reach out about a local engagement with another partner group that's a no-brainer fit for you. So much for the emphasis on flexibility:  Flexibility is a marketing term here, not often realized.

Its still first and foremost an accounting house, no matter what the partners crow about growth of advisory: the fact that advisory staff can still be restricted in financial relationships, there is so much Sarbanes-Oxley annual compliance, etc. speak for themselves. You're going to spend a ton of time here on compliance items that have nothing to do with your actual job as a result... many hours per year, thanks to all the accountants.

They'll pay for CPA related education, but very few opportunities to get other items reimbursed such as certifications, seminars, conferences. 

All travel remains the default thinking in Advisory. They haven't innovated to a less traveling culture like competitors.  Staff below director can only book coach travel, even if it is a trans-continental flight. Only once you hit 75k miles a year, and are a Manager+ you might be allowed to book in business,  but only IF your partner (who might be a penny pincher) lets you. The program is full of holes and partner discretion language.

Want to work with another group or market vertical?  Good luck.  Partners think they 'own' their teams, and work rotations and cross-vertical opportunities are few. When you hire in, you better love the vertical team you're part of because it is almost impossible to move, unless there is no work available in your group.

The new performance management approach of 'snapshots' doesn't allow 360 feedback or introduction of client feedback. It is encouraged to only be judged by upward levels, not peers.  Employees do not speak to the committee about their own performance, and rely on their often super-busy Relationship Partner to be prepared, honest, and detailed at performance roundtables. It is still a beauty contest, based on individual opinions and relationships vs. facts and client feedback. Many have had great successes that go under-emphasized by their presenter. The brown-nosing is still very evident.

HR is not impressive here.  It has been slashed down to a smaller team, and they're not the A-team either. They'll rarely advocate against a partner if it comes down to it, and this leads to more attrition than they'll admit when staff aren't getting the development, travel exceptions or engagements they want.

There are 2 cultures:  Strategy& or the rest of the place.  They are perceived to be arrogant, coddled, paid more: the overall firm didn't do the best job integrating Booze & Co and culturally linking those folks: there remain many special carve-outs and programs just for them.