It’s promotion time at Deloitte and what is usually a time of celebration has devolved into disappointment and confusion for many. We’ve been tipped to unexpected promotion results and pointed to a thread on r/Deloitte that breaks it down:
I just met with my coach and although I was rated as strong in all categories, the firm has decided to defer my promotion for 1 year. I am 2nd year analyst up for promo to C. I had been told this whole time that promo to C is basically automatic. Coach shared the due diligence feed back with me and nothing bad was listed. I really don’t understand what I did wrong. He doesn’t know either. Came in as exp hire as well, so the title demotion was already a bit of a shock. GPS consulting HC 93k. Hired June 2021.
He did just say that As who haven’t hit the 2 year mark are less likely to be promoted this round cause the firm is worried about not having enough analysts since they aren’t hiring as many. But idk if I believe that.
Anyone else in the same boat?
Edit to add: current utilization over 100%. December utilization was 88%.
According to our tipster, there are “several known instances” of coaches having told their coachees that promotion was inevitable. “Today [yesterday], several of these employees had their promotions clawed back due to a ‘final screening process’ that office PPMDs and coaches did not have insight to.” Our tipster doesn’t know if any senior manager promo candidates were affected, telling us the people they know of were up for consultant, senior, or manager in both risk and financial advisory and consulting.
Numerous people have reported similar experiences, and these aren’t burnouts we’re talking about.
Yes, happened to me too. Util 95%, 100% this year. Higher end for all categories, recommendations from leaders, many strong impacts, etc. Coach said he heard promos were limited due to how the business is performing
And:
Welcome to the party. I was also not promoted. Experienced hire within EP. 5 years of experience. Onboarded as an analyst w/ promotion timeline of 2023. Coach states, likely event is economic uncertainty. He also stated if I had joined a year earlier, my results would have definitely allowed me to get promoted. I’m bummed but, life goes on.
Client work: Strong
Firm work: Exceptional
AND:
I don’t think it’s you’re [sic] coaches fault. Looks like alot of people are getting screwed with promos. Cost cutting and difficulty staffing the higher up you go.
Conspiracy time:
Most likely a tactic to get people to voluntarily leave especially if there was no negative feedback.
I think it’s to get people to voluntarily leave tbh. I wouldn’t be surprised if that’s the case
Only days ago, Deloitte announced layoffs of 3% (1200 people) on a Risk & Financial Advisory all-hands call but the firm insists that overall client demand remains strong. “As growth in select practices moderates, we are taking modest personnel actions where necessary,” said Jonathan Gandal, managing director of Deloitte Services to FOX Business.
Audit and Tax promotion announcements have not been made yet.
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