KPMG Advisory 2016 Bonus Debacle
It is no secret management consulting--especially in the financial services--has had a bad year. KPMG, however, set aggressive goals (~16% top line AND bottom line growth. Just let that sink in for a company that size/age and its competitors/market) and missed--obviously. The firm had a respectable ~10% growth, but bonuses/salary increases have been dismal from staff level to senior members including forced retirement for Partners.
To give more color, ~40% received no bonus at all. A lot of promotes were given title and no salary increase. There were massive layoffs, but senior management wants people to quit due to poor variable comp as opposed to paying severance.
2017 will most likely be the same. I would strongly advise anyone looking at KPMG to look elsewhere. It is--and probably always will be--an Accounting/Tax firm. Advisory has been kicked right in the teeth.
Avoid KPMG if possible.