Compensation Watch '22: Just How Scary Were Raises at KPMG … – Going Concern

When accounting goes unaccounted for
[Updated original post from Oct. 19 with KPMG raise percentages for 2015 and 2013.]
As the leaves start changing to PwC colors, it signals the start of compensation season at another Big 4 firm: KPMG. The results of the most recent round of comp talks are in and can be found on r/accounting, per usual. So during this spooky szn, were raises scary bad or scary good for KPMGers? Let’s take a look.
The calendar year started off on a good note for employees of the Radio Station as it was announced last January that mid-year raises would be coming on April 1. If you look at the Reddit thread, one newly promoted first-year senior saw their salary increase by $25,000 since the start of fiscal year 2022 after the mid-year pay bump and the most recent FY 2023 comp talks earlier this month.
For this article, we took a look at how much base salaries increased from April’s raises until October’s raises. We also wanted to find out how this most recent round of raises compared to previous years at KPMG. So we examined the 2022, 2021, 2020, 2019, and 2018 KPMG comp threads on Reddit, as well as the 20172016, 2015, 2014, and 2013 comp threads on Going Concern. We calculated the average raise percentage for each step up in rank or promotion where data was available (i.e., A1->A2, A2->S1, S2->S3, etc.).
Keep in mind these averages don’t take into effect factors like location/cost of living, line of service, academic degrees, competency rating, and bonuses (variable compensation). This is just the average percentage of how much base pay increased per step up in rank/promotion.
Here are the numbers (2022 raise percentage in bold):
Raises seemed to even out this year after the lack of pay increases in 2020 because of pandemic uncertainty and the bigger-than-normal salary increases in 2021 to make up for 2020. We were a little surprised at the 9% average increase for S1->S2; it seems too low. But there were only 11 entries from new second-year seniors in the Reddit thread so it’s a small sample size.
If any KPMGers have different salary information they can share or can help us fill in some of the blanks, let us know in the comments section or email us at [email protected]
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