Understanding Variable Pay at Deloitte USI: Timing and Eligibility

Recently, new employees at Deloitte USI have been inquiring about the timing of variable pay or performance bonuses. This article aims to clarify the process and answer common questions regarding variable pay for new hires.

Variable Pay and Timing for New Hires

If you joined Deloitte USI in May 2021, you may be wondering whether you will receive a variable pay or performance bonus in August 2021. The answer to this question is no. Here’s why:

Due to the compensation cycle revised in 2021, new employees like you are not eligible for variable pay in the following August. The variable pay or bonuses are typically based on performance evaluations completed during the previous year. Thus, those who evaluated in the previous cycle will be eligible for bonuses only in the following year. Specifically, you will be considered for a variable pay in August 2022 based on your performance from May 2021 to March 2022.

Understanding the Compensation Cycle

The compensation cycle for Deloitte USI has a specific framework, which impacts new hires joining the organization after February 2021. According to Deloitte USI, all employees will be eligible for variable pay or bonuses in June of each year, starting from 2021. Therefore, if you joined after the year-end review in February 2021, you won’t be eligible for bonuses until June 2022.

It is important to note that the variables for performance evaluations and variable pay are typically linked to the fiscal year, which ends on March 31st. As a new employee, your evaluation period will extend from May 2021 to March 2022, and your variable pay will be released in August 2022.

Conclusion

The variable pay or performance bonuses are closely tied to the performance assessments conducted annually. If you joined Deloitte USI in May 2021, there is no bonus to be expected in August 2021. Your variable pay or performance bonus for the fiscal year 2022-2023 will be released in August 2022.

We hope this information helps clear up any confusion about the timing of variable pay. Congratulations on joining Deloitte USI, a renowned firm in the Big 4, and best of luck in your professional journey.

For any further inquiries or clarifications, please reach out to the HR department or your immediate supervisor.