PwC is setting a precedent for the future of the post-pandemic workplace. The Big 4 firm recently announced its flexible post-pandemic strategy, which includes salary hikes, cash incentives to take time off, and paring down Friday calls to lighten the workload. Let’s dig into the changes coming to PwC.
PwC Shakes up the Workplace
PwC will offer employees $250 for every full week of vacation they book, with the promise of up to $1,000 a year. Timothy Ryan, the firm’s U.S. Chair and Senior Partner, said the move is meant to incentivize breaks and relaxation so employees can unplug and come back to work refreshed. The firm also launched “Fridays Your Way” to discourage calls and meetings on summertime Friday afternoons to prioritize personal well-being.
The firm will transition to a hybrid working model in September, which will balance remote work with time in physical offices. PwC will also double its “Real-Time Recognition” bonuses to financially reward colleagues for kind and caring acts.
PwC Consultant Salary Increases
PwC is implementing base salary increases across the board. If you’re looking for a competitive PwC consultant salary (including a PwC associate salary), this is an exciting time to enter consulting. The firm is also expanding its bonus pool to above pre-pandemic levels, which comes at a time when many top companies have nixed bonuses due to financial trouble.
PwC also gave employees a “thank you bonus” amounting to one week’s pay to acknowledge their hard work during an unprecedented transition to work from home due to the pandemic.
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What this Means for the Future of Consulting and PwC
PwC, even before these changes, was an attractive place to work. But the recent incentives show that the firm is serious about putting its people first, making it an attractive landing spot for aspiring consultants. We expect other consulting firms (starting with the rest of the Big 4) to adopt similar approaches when designing their post-pandemic workplace.
“The future of work is changing at such a pace we have to evolve continually how we do things to meet the needs of our people and our clients,” Ryan said.
PwC proved its commitment to employees’ personal well-being by raising salaries, expanding the bonus pool, and offering cash incentives to take vacations. There’s a reason the firm was named to the top of Vault’s ‘Accounting 50’ list. If you’re applying for roles at PwC, your resume should reflect the skills the firm is seeking. And make sure you are prepped for the difficult PwC interviews! One thing is for sure this move to increase the PwC associate salary is sure to turn some heads, we’ll see if other firms follow suit.
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