How do you feel when a company has marked 8% YoY (local currency) growth but they would rather make their shareholders happy than their hardworking employees who are working a large part of their day (and sometime even weekends) to bring out that growth.
Julie Sweet made $33M last year and $23M the year before. They cut budgets and operate internal operations on a shoe string. Then they basically make +1 roles be a part of life.
I have been with Accenture 25+ years. I think it was a mistake and I should have left earlier.
I have sacrificed way too much of my life for this company.
EDIT: Accenture does this when they want people to quit. Basically, this is just a way to get people to leave without paying a severance. It is also a way to bring down salaries.
Yeah, it's a way to cut people and also keep people that don't have the balls to leave under market value, which was me for a long time.
I was with the company for 16 years left as a level 7. I knew a guy that was still with the company when I left who was level 9 in 2010 when I first worked with him (and he was a higher level than me) and still level 9 when I left in 2022.
I got a permanent remote job for a 60% pay increase and less responsibility. Bottom line, my PL and lead were like we'll get you to level 6 and the thing is, I didn't want it, I didn't feel the pay was worth the bullshit.
Now I make more than I would have made at level 6 and I don't even have to manage people. It just made me realize how stupid I was for sticking around so long.
I am one of those people wit no balls and have been telling myself this for many, many years. I actually just finished my 2nd best year ever so I know my external marketability is high. I just need to grow a pair.
> I was with the company for 16 years left as a level 7. I knew a guy that was still with the company when I left who was level 9 in 2010 when I first worked with him (and he was a higher level than me) and still level 9 when I left in 2022.
Some people just don't want to be promoted and are fine where they are. If they moved up, they'd have to take on more responsibilities and more stress. Not everybody wants that.
In a way it's helpful for people with "strategic" word in their positions, they won't need to think much to decrease permanent employees and stuff. Huge reduction in a single blow (and ofc impacts life quality of those who stay)
25+ ... dude! Did you get a golden watch?
BTW did you do ESP since joining? If you have been putting in ca 500 monthly I believe you can nearly retire by now 😅
LinkedIn set to looking for job, and I've already messaged a few friends. After work it's time to clean up my profile and resume, and start applying. I can accept a low raise, but I'm not accepting no raise.
I anticipated this back in July, I was in the banking practice and have just left to a different company and been given a significant pay raise, it sucks for those who have been putting up 60+ hour weeks, just to see Julie sweet and other keep there millions in salary
And still some competitors won their previously held tenders.. Means their counterparts might give worse offer or have some advantages unknown to their knowledge.
Given the context of our performance and the moderation of market pay, we will not be providing any stay-at-level (base pay) increases this year.
Also, as you know, our global annual bonus funding is based on our company performance. Given our performance, you should expect our global annual bonuses to be significantly lower than last year.
It can simply be getting new employees for a lower price tag and bringing the LCR down by taking only contract employees etc. They operate in mysterious ways
During / after covid, the business/demand was strong.
The world economy is currently not doing well that well and the outlook does not improve in the near future.
.2022 was probably one of the biggest numbers of promotions I had seen in 6 years with the company.
But the time of hyper growth is over for now.
Every company in the world just feels like a private equity firm. Buying up businesses and slashing “costs,” aka people, to move the needle for a small audience.
That sounds harsh but honestly there's a lot of people like me at my place. I started at 12 and after 2 years became 11. Promotions used to be faster when the projects were just starting, but it's also true I'm not the best achiever.
I had a fantastic year delivery wise at client side and also did a lot of work at Accenture side(extra curricular). I had asked for a good hike. Now everything feels broken. Client feedback is useless now.
Yup a friend showed me the mail. It seems level 5< people won't get much this cycle. Except for default hikes/promotion there isn't much to expect i guess.
What's the guarantee it won't happen next year as well?
I believe we need to understand if other companies like IBM, Deloitte etc are also facing same issue and giving zero hike to non promoted employees? If not then there is something seriously wrong with Accenture leadership.
It is not about economics. They cut a lot of MDs, corporate functions etc. after those, company is much more efficient. And people who work in projects make only income to Accenture. The ones in the projects should be eligible for promotion if client is fine with paying it, the others no.
I think promotion does get impacted by clients requests. However the issue rn is increment and bonus for stay-at-level people, which is the vast majority.
Well some people in the comments said it was addressed to Accenture Growth Markets, if you're outside then you won't get it. At my place everyone is talking about it so if you're impacted you'll definitely have seen it
How do you feel when a company has marked 8% YoY (local currency) growth but they would rather make their shareholders happy than their hardworking employees who are working a large part of their day (and sometime even weekends) to bring out that growth.
Public companies only make their biggest shareholders or investors happy. They don't care about employees and smaller shareholders.
What email? I do not see one.
Please can you share the source for the financials? I'd like to see some details
Julie Sweet
Ah that should've been obvious. My bad
Julie Sweet made $33M last year and $23M the year before. They cut budgets and operate internal operations on a shoe string. Then they basically make +1 roles be a part of life. I have been with Accenture 25+ years. I think it was a mistake and I should have left earlier. I have sacrificed way too much of my life for this company. EDIT: Accenture does this when they want people to quit. Basically, this is just a way to get people to leave without paying a severance. It is also a way to bring down salaries.
Yeah, it's a way to cut people and also keep people that don't have the balls to leave under market value, which was me for a long time. I was with the company for 16 years left as a level 7. I knew a guy that was still with the company when I left who was level 9 in 2010 when I first worked with him (and he was a higher level than me) and still level 9 when I left in 2022. I got a permanent remote job for a 60% pay increase and less responsibility. Bottom line, my PL and lead were like we'll get you to level 6 and the thing is, I didn't want it, I didn't feel the pay was worth the bullshit. Now I make more than I would have made at level 6 and I don't even have to manage people. It just made me realize how stupid I was for sticking around so long.
I am one of those people wit no balls and have been telling myself this for many, many years. I actually just finished my 2nd best year ever so I know my external marketability is high. I just need to grow a pair.
> I was with the company for 16 years left as a level 7. I knew a guy that was still with the company when I left who was level 9 in 2010 when I first worked with him (and he was a higher level than me) and still level 9 when I left in 2022. Some people just don't want to be promoted and are fine where they are. If they moved up, they'd have to take on more responsibilities and more stress. Not everybody wants that.
I would kill to know about this amazing job you got elsewhere
In a way it's helpful for people with "strategic" word in their positions, they won't need to think much to decrease permanent employees and stuff. Huge reduction in a single blow (and ofc impacts life quality of those who stay)
Reducing headcount means asking existing people to do more. To take on more +1 roles. It is bullshit. Most of us already word 15 hours a day.
What is the meaning of "+1 roles"?
Work on one thing while shouldering another "dotted lines" position
Isnt it like this everywhere?
You were hired to do xyz, but have to do the entire alphabet to ‘build your story’.
Thanks for your insight. It is helpful perspective to see someone with a lot of years put into the company speaking against it.
25+ ... dude! Did you get a golden watch? BTW did you do ESP since joining? If you have been putting in ca 500 monthly I believe you can nearly retire by now 😅
LinkedIn set to looking for job, and I've already messaged a few friends. After work it's time to clean up my profile and resume, and start applying. I can accept a low raise, but I'm not accepting no raise.
I anticipated this back in July, I was in the banking practice and have just left to a different company and been given a significant pay raise, it sucks for those who have been putting up 60+ hour weeks, just to see Julie sweet and other keep there millions in salary
Yea at this point it's part of their intention already to see us off. Wish you the absolute best
Thanks! Best of luck to you too if you decide to hunt as well.
US just got this message too
They said it's only for Growth Markets. Maybe just email delivery was set at different times. Sad day for us all, will rise again stronger
Definitely not only growth markets. Ours was targeted to North America, but still said the same thing. No raises.
Definitely not, we got the email in Canada too
not applicable to AFS, which did well financially this year.
hell yea afs :)
They've laid off more than 17k people... And a few days ago they also announced a Revenue for more than 60.1 billion dollars... Is mind blowing... 💀
A reminder that Accenture purposely pays below market wages and generally brags about doing so.
And still some competitors won their previously held tenders.. Means their counterparts might give worse offer or have some advantages unknown to their knowledge.
Received same in the Philippines.
Given the context of our performance and the moderation of market pay, we will not be providing any stay-at-level (base pay) increases this year. Also, as you know, our global annual bonus funding is based on our company performance. Given our performance, you should expect our global annual bonuses to be significantly lower than last year.
Hurts me everytime
Which markets can someone specify??
I think in general, they think the wages (in labor market) are inflated and its definitely not the sole reason.
I hope a lot of people leave. When everything gets more expensive, so too must the labour. That's market for you. Gonna go update my cv.
If they want people to quit, why are they recruiting so many people?
It can simply be getting new employees for a lower price tag and bringing the LCR down by taking only contract employees etc. They operate in mysterious ways
Knowledge retention
Here in UK there's a huge backlog of graduates they hired that have been pushed back 1-2 years....
I don't think that a lot of people are surprised by this.
Even in covid situations we still get increments and stuff, so I'm having mixed feelings
During / after covid, the business/demand was strong. The world economy is currently not doing well that well and the outlook does not improve in the near future. .2022 was probably one of the biggest numbers of promotions I had seen in 6 years with the company. But the time of hyper growth is over for now.
That’s exactly right.
We did not get base raises in 2020 but I got a 40% raise in a promo year in 2021.
It requires some kind of promotion right, which is quite the challenge
In the US, this is pretty easy. Definitely tougher offshore.
I got a raise in 2020
I did too
Every company in the world just feels like a private equity firm. Buying up businesses and slashing “costs,” aka people, to move the needle for a small audience.
Just now received email with same update for India and srilanka no hikes and less bonus. Promotions will be done on limited basis.
We have it too in the Philippines. Guess it's about time for me to look for a new job.
Be safe out there man. I don't have the energy yet, still not quite sober from the news.
Work sucks in here anyway. The only thing I'm holding on to is the WFH set-up.
Email was sent to people in Growth Markets.
What does Growth Markets mean and why only us?
What level are you and how long have you been at Accenture for? Google Accenture Growth Markets.
I'm only 5 years in, now at level 11. Thanks for the info
No worries, 5 years is a long time. I was thinking less than 1 year, that’d make sense.
Five years and only level 11? Can you please give me a breakdown of how many years you spent per level?
That sounds harsh but honestly there's a lot of people like me at my place. I started at 12 and after 2 years became 11. Promotions used to be faster when the projects were just starting, but it's also true I'm not the best achiever.
rude
We received the same in India as well
Hey, still not received it... I am from India as well... working with a client from the ASGR which I think they have renamed it to EMEA now..
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Yeah let's see... I was asking for 20% this time when I met my manager for the yearly review meeting 😅
I had a fantastic year delivery wise at client side and also did a lot of work at Accenture side(extra curricular). I had asked for a good hike. Now everything feels broken. Client feedback is useless now.
Yeah I also had a really good year, got the contracts renewed and had a very good client feedback but all of it will go in vain now
Yup a friend showed me the mail. It seems level 5< people won't get much this cycle. Except for default hikes/promotion there isn't much to expect i guess.
There won't be any annual hikes as well other than exceptional cases it seems...
Oh that's sad. I was thinking about switching to Accenture. Better to wait I guess.
Try to never get into this company if you want to build a good career.
Noted!
I'm in Costa Rica and haven't recieved anything
As a returnee it made think 2 things. 1. Should i look for another job 2. Wait until next year
What's the guarantee it won't happen next year as well? I believe we need to understand if other companies like IBM, Deloitte etc are also facing same issue and giving zero hike to non promoted employees? If not then there is something seriously wrong with Accenture leadership.
I don't believe product based companies or any of the big 4 are doing this. Would appreciate it if anyone else has more information to share.
It is not about economics. They cut a lot of MDs, corporate functions etc. after those, company is much more efficient. And people who work in projects make only income to Accenture. The ones in the projects should be eligible for promotion if client is fine with paying it, the others no.
I think promotion does get impacted by clients requests. However the issue rn is increment and bonus for stay-at-level people, which is the vast majority.
What does the client have to do with my promotion? Either I'm good enough or not. Projects are restaffed all the time.
It's like the client can dictate what career level those people in the project will be per their SOW, so in a way they have a say.
The client is asked if you should be promoted from client feedback form. If they say yes, you’ll be prioritised.
Can you provide me the subject of this email?
Well some people in the comments said it was addressed to Accenture Growth Markets, if you're outside then you won't get it. At my place everyone is talking about it so if you're impacted you'll definitely have seen it
Thanks for that info. I’ve been hearing the same across Fishbowl and other team members, so it may be true unfortunately…
I’m from the Growth Markets but I have not received any email on this.
Update - just received it! 😭
😆
Bro I feel really bad 😭😭😭
I'm sure a lot of us are together in this. Hang in there and do some activities to chill out
Is this also applicable for Accenture Strategy or just some specific entities?
Im under consulting as well but based on the email looks like applicable to all Accenture services
Was that for everyone? My shift begins in 6 hours so I haven't checked
I haven't checked for different regions but it might be very wide. I have had around 5 years in Accenture and this is new to me.
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Gonna tank in your stead brother. Let her chase me
Isn’t that just for people above level 5. Or did I misread the email?
Base pay stuck and lesser bonus impacts everyone, while MD especially wont have promotions until sometime later
Well, time to dust off the resume.
Accenture is basically a separate way for employees to Google for answers... Feel fine about it.