Word on the street is the attrition rates are actually going down, since the Big 4 are doing a better job at improving work-life balances. This is causing less individuals to look outside the Big 4 and thus fewer promotions that used to be taken for granted. Is this true?
Just realized that the very payroll/adp reports we all enjoyed looking at in order to see how much our client contacts made, now seem to piss me off. Especially when your main contact, who couldn't tell a debit from a credit, makes significantly more than you, and leaves at 5. It's almost guaranteed to get you in a foul mood and yak with your team about the ridiculous salaries that certain employees get when compared to yours.
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In my country auditors still stay late at the office and are the last to leave. Maybe there is an ongoing action from Big 4 firms to reduce/avoid attrition, but in my humble opinion, it is not so clear.
Keep up the good work with the blog!!
I am currently at one of the Big 4s, and yes, since there are more people staying with the firm, some people don't get promoted to a senior or a manager, so it is partially true. However, people who didn't get promoted will for the most part leave the firm since either their ego got hurt or there are more jobs out there that will pay you more with better work-life balance. So overall, I think the attrition rate has not changed too much compared to several years ago.
http://raagconsultants.com/auditing.html
https://classichindimovies.blogspot.com/2018/10/mee-too-saga.html