A

ALifetime
LifetimeofofOpportunity
Opportunity
Discover
Discover new
new ways to create
ways to create personal
personalvalue
value
through
through aa PwC
PwC career
career

My relationship with PwC creates the value I’m looking for.

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 It takes extraordinary people to make an extraordinary firm like PwC. We attract the
best people because we offer the opportunity to grow your career while working on exciting assignments
with outstanding clients alongside the brightest minds in our industry. Our environment is stimulating,
collegial, and offers a lifetime of opportunity.

Table of Contents
Your Compensation
Linking Pay to Performance
Salary
Salary Increases
Recognition
Annual Performance Bonus Plan
Career Milestone Awards
Contribution Awards
Firmwide Extended Holidays
For us to deliver the PwC experience to our clients, we need you to have a similar experience here at
the firm. Part of that experience is recognizing and rewarding staff performance in innovative and
competitive ways. We know career satisfaction is not just about the money—it’s also about having great
client opportunities, learning and developing, building relationships and being recognized for your
accomplishments. But most of all it’s about feeling supported as you strive to achieve your own goals and
grow your career.
Your partners listened to your feedback and reviewed our compensation and recognition programs. Based
on what you told us you value, we’ll be implementing some new and exciting changes over the coming
year designed to improve how we reward you and how we talk to you about compensation. I hope you find
these changes innovative and inspiring.
This guide describes how these changes will enhance your potential to earn, learn, and grow your career
right here at PwC. As we implement these changes, I encourage you to join the conversation. That means
talk to your partners and leaders and ask questions to understand and get the most out of what your
career at PwC has to offer.

Career Growth
3D Growth for Deeper Skills and 
Higher Earnings
Success Plans
Bob Moritz
It’s Just the Beginning… US Chairman & Senior Partner

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See what PwC colleagues had to
say in the national focus groups
conducted earlier this year.
When it comes to
your career, how do
you define value?
“Number one would be the
breadth and level of experience
I’m receiving here.”
Senior Associate
“Diversity of work. I enjoy what I
do; it’s very specialized and the
fact that I get to do it in so many
different ways is the primary
reason I stay. If I were to laterally
transfer to another organization,
the diversity of work wouldn’t be
there.” Manager
“I know my work brings value
to clients.” Senior Associate
“I like what I do. I worked in private
industry before so I know what’s
on the other side and I’m in no
rush to get back there. I like the
people I work with and I learn
something new every day.”
Senior Manager
Learn what’s new:
Your Compensation
How we talk about pay, performance, and career opportunities
■■ Greater clarity about the competitiveness of your salary, how we set pay, your career
opportunities, and your career earning potential
■■ Regular updates on firm and line of service performance to track progress toward
annual performance bonus targets
Recognition
How we celebrate and reward your contributions and your successes
■■ Contribution awards
■■ More transparent annual performance bonus plan with stated targets linked to
business results
■■ Milestone awards to celebrate career progress at three key stages in your PwC career
■■ New experienced associate level for associates
■■ Firmwide extended holiday closures, when they are offered, announced in advance,
affording work-free time for all in addition to other paid time off
Career Growth
How we support your development
■■ Candid, supportive conversations about pay and performance throughout the year
■■ Success Plans—a new way of helping to set you up for success
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Your Compensation
Through our compensation strategy, PwC strives to provide you with a compensation package that surpasses what our competitors offer,
through a combination of salary, bonus opportunities, recognition awards, and non-monetary awards and benefits. This balanced approach
results in a compensation program that aims to deliver value with depth and breadth to meet your needs and the firm’s needs on a number of
different levels.

In all of these categories, our strategy is to be equal to or above the market in comparison to our primary competitors, and in certain areas, to
provide truly distinctive rewards.

Linking Pay to Performance

Defining a culture of excellence, elevating performance expectations, and creating the total PwC experience
When we talk about performance, we’re talking about your personal performance as well as the firm’s performance. Firm and line of service
performance affects what we can pay, and what we pay must be affordable and sustainable over time.

Your own performance affects your compensation in four primary ways. It: What would help you
• Helps determine where your salary falls in the market-based range for your position as well better value your pay
as the size of your annual merit increase, opportunities?
• Determines the size of your potential annual performance bonus award, “I don’t fully understand pay, but if
• Drives the size of any contribution award you may receive, and I did I would have less anxiety.”
Manager
• Determines your promotion readiness.
“There should be more
transparency. You don’t know
Linking pay to performance enables us to:
how the bonuses are calculated,
• Continue building a culture that focuses on high performance and differentiation, how you’re compared to your
• Stay competitive within our industry and against our direct competitors, peers. Is it about your work and
your level? I don’t know how I
• Balance our ability to reward performance while maintaining fiscal responsibility, received my bonus.”
• Attract and retain the people we need to support our future success. Senior Associate

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Salary Different Survey
Expect competitive pay and clarity about how it’s set Sources for Different
Skill Sets within Each
Salaries reflect the:
• Value of the position in the external market, primarily compared to our direct competitors,
Line of Service
• Value of the position internally at PwC, and
see page 10
• Person in the position—and his or her skills, experience, and performance over time.

For every salaried position at PwC, we maintain a salary range that is developed using market pay data. These ranges depend on and vary by
a position’s line of service, the skills required for the job, and the geographic market in which they work. The ranges provide guidance on the
market competitiveness of pay, from the low end of what competitors pay to the high end of what competitors pay.

Your own salary is determined by your skills, qualifications, experience, and performance within the salary range for your position.

How We Develop Salary Ranges

Step 1: Extensive, reliable market research
We purchase reliable, valid, and compliant survey data that tells us what the external market is paying for jobs similar to jobs at PwC. This
data is central to developing our salary ranges, because it allows us to benchmark our own salaries against what our competitors are paying for
similar positions. PwC participates in and pays for extensive research to develop market-competitive salary ranges. We use the most current
published surveys conducted by well-known and well-credentialed organizations that specialize in collecting and comparing compensation
data. These experts gather their information from compensation professionals at participating organizations through a rigorous, professional,
and systematic process that provides genuine, valid, and reliable compensation data.

Here’s the process we follow. We submit our salary information to these salary survey specialists—broken down by our current capabilities—
which they then match to our direct competitors’ (see page 6) salary survey data. It requires an extensive amount of work to make sure that
the skill sets are lined up appropriately and to make sure that the position levels are matched correctly. Once this is done, they provide us with
a detailed analysis of our compensation compared to other firms in our industry.

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 Does PwC use
information from other
Internet sources?
Our goal is to use the most relevant
data from the most legitimate
sources. We do not use unreliable
Internet sites to set our salary ranges
because we can’t be confident that
they meet our requirements for
reliability and validity.
Competitor Field
Let’s take a brief look at the participants and competitors whose information is used in our surveys.
Each of these surveys includes the other Big Four firms, as well as other large consulting companies and
boutique consulting groups. For each survey, typically between 30 and 60 companies participate, and in
some, more than 100 companies.
If we notice that a competitor is not on the list, we will ask our survey specialty companies to approach
that competitor and see if they would like to participate. While we have been successful at getting some of
our smaller competitors to provide data to these companies, there are still some that do not participate.

Much of the information from these

sources is reported by individuals,
Assurance
For Assurance, participants in the salary surveys we use include the other Big Four firms as well as some other competitors.
not organizations, or by recruiting Here’s a sampling of the 2010 participants in Mercer’s Public Accounting Firm survey.
firms who use the information as
a marketing tool. With no expert 2010 MERCER PUBLIC ACCOUNT FIRM SURVEYS PARTICIPANTS
oversight, there’s no way to know
Baker Tilly Virchow Krause, LLP Goodman & Company, LLP Plante & Moran, PLLC
if those people are telling the truth
and if the data they share is valid. BDO USA, LLP Grant Thornton, LLP Protiviti
Blackman Kallick, LLP KPMG, LLP RSM McGladrey
The same title can mean something Cherry, Bekaert & Holland, LLP Larson Allen, LLP Ryan, Inc.
quite different in different
Clifton Gunderson, LLP LECG Thomson Reuters—Tax & Accounting
organizations. If we were to use
information that’s self-reported by Crowe Horwath, LLP Moss Adams LLP Wipfli LLP
title without seeing the underlying Deloitte Navigant Consulting, Inc. WTAS LLC
job content (a part of published, Ernst & Young, LLP ParenteBeard LLC
validated surveys), we couldn’t
know if we were really comparing
the same jobs and we would risk
paying either too little or too much
for a position.

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Tax
For Tax, we use the public accounting survey as well as other specialty surveys. Here are examples of the competitors that
participate in the McLagan specialty Tax surveys and the Mercer Public Accounting Firm surveys.

2011 MCLAGAN SPECIALTY CONSULTING SURVEYS PARTICIPANTS

Accenture Gallup Consulting Moss Adams LLP
Blackstone Group Grant Thornton LLP Navigant Consulting
Booz Allen Hamilton Houlihan Lokey Howard & Zukin Plante & Moran, PLLC
CRG Partners Huron Consulting Rothschild
Capgemini US Ingenix RSM McGladrey, Inc
Deloitte KPMG SVB Financial Group
Duff & Phelps LLC LECG/SMART Business Advisory & Consulting Thompson Reuters Corporation
Ernst & Young, LLP Mercer Zolfo Cooper LLC
FTI Consulting Mesirow Financial
2010 MERCER PUBLIC ACCOUNTING FIRM SURVEYS PARTICIPANTS
Baker Tilly Virchow Krause, LLP Goodman & Company, LLP Plante & Moran, PLLC
BDO USA, LLP Grant Thornton, LLP Protiviti
Blackman Kallick, LLP KPMG, LLP RSM McGladrey
Cherry, Bekaert & Holland, LLP Larson Allen, LLP Ryan, Inc.
Clifton Gunderson, LLP LECG Thomson Reuters—Tax & Accounting
Crowe Horwath, LLP Moss Adams LLP Wipfli LLP
Deloitte Navigant Consulting, Inc. WTAS LLC
Ernst & Young, LLP ParenteBeard LLC

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Advisory
For Advisory, we use differing competitors, primarily consulting and finance organizations, based on each position’s capabilities,
specialty roles, and responsibilities. Here are examples of the competitors that participate in the McLagan Specialty Consulting
Surveys and the Mercer Managed and IT Consulting surveys.

2011 MCLAGAN SPECIALTY CONSULTING SURVEY PARTICIPANTS

Accenture Gallup Consulting Moss Adams LLP
Blackstone Group Grant Thornton LLP Navigant Consulting
Booz Allen Hamilton Houlihan Lokey Howard & Zukin Plante & Moran, PLLC
CRG Partners Huron Consulting Rothschild
Capgemini US Ingenix RSM McGladrey, Inc
Deloitte KPMG SVB Financial Group
Duff & Phelps LLC LECG/SMART Business Advisory & Consulting Thompson Reuters Corporation
Ernst & Young, LLP Mercer Zolfo Cooper LLC
FTI Consulting Mesirow Financial
2010 MERCER MANAGEMENT AND IT CONSULTING SURVEY PARTICIPANTS
Accenture Ernst & Young, LLP LECG
Avanade Gartner, Inc. MasterCard Worldwide
Booz Allen Hamilton Grant Thornton, LLP Navigant Consulting, Inc.
Capgemini Hewlett-Packard Development Company L.P Protiviti Inc.
Computer Sciences Corporation Hitachi Consulting Corporation SRA International, Inc.
Crowe Horwath LLP IBM Global Services Wipro Technologies
Dell, Inc IMS Health
Deloitte Consulting, LLP KPMG, LLP

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IFS PARTIAL LIST OF 2010 IFS SURVEY PARTICIPANTS
IFS has a wide variety of functions
Abbott Laboratories Clifton Gunderson LLP Humana, Inc. Progressive Corporation
and recruits from many different
industries, from IT to finance, ACA CNA Financial Corporation Hyatt Hotels Corporation Protiviti
and human resources to risk Accenture Coca-Cola Company ING Prudential Financial, Inc.
management. For that reason, Accor North America, Inc. Colgate-Palmolive Company Ingersoll-Rand Company Limited RAND Corporation
we solicit data and measure ADP Comcast Corporation International Paper Company Reckitt Benckiser, Inc.
competitors in each area of IFS
Aetna Computer Sciences Corporation Johnson & Johnson Revlon
from direct competitors as well as
from general industry. AIG Conseco, Inc. Kellogg Company Roche Diagnostics Corporation
Akzo Nobel, Inc. Crowe Horwath LLP Kimberly-Clark Corporation RSM McGladrey
Alcoa, Inc. CSC KPMG LLP SAIC, Inc
Alliant Techsystems Deloitte LarsonAllen LLP Sara Lee Corp.
American Express Depository Trust & Clearing Company LECG Siemens AG US
American International Group, Inc. Dorsey & Whitney Liberty Mutual Group Sun Life Financial (US)
AMR Corporation Dow Jones and Company Marriott International Textron Inc.
Apollo Group Duke Energy Marsh & McLennan Companies The Boeing Company
Argonaut Group E. I. du Pont de Nemours MassMutual Life Insurance Company The Carlyle Group
AstraZeneca Pharmaceuticals Ecolab Mattel, Inc. The Coca-Cola Company
Automatic Data Processing (ADP) Eli Lilly & Company McKesson Corporation The Hartford Financial Services Group, Inc.
Avanade Entergy MetLife The MITRE Corporation
Bain & Company Ernst & Young, LLP Morrison & Foerster, LLP The New York Times Company
Baker Tilly Virchow Krause, LLP FedEx Express Moss Adams LLP The Nielsen Company
Bank of America Fireman’s Fund Insurance Company Navigant Consulting, Inc. Thomson Reuters
BDO USA, LLP First Data Corporation Nestlé USA, Inc. Thomson Reuters - Tax & Accounting
Bechtel Corporation Freddie Mac New York Life Insurance Company Time Warner Cable
Blackman Kallick, LLP General Dynamics New York Stock Exchange Time, inc
Capgemini Goodman & Company, LLP Nike, Inc. Unilever U.S.
Cardinal Health Grant Thornton LLP Northern Trust Corporation United Technologies Corporation
Cargill, Inc. Hartford Financial Novartis Vanguard Group
Carlson - Carlson Wagonlit Travel Health Net ParenteBeard LLC Viacom, Inc.
Chase Card Services Heidrick & Struggles International Philips North America Walt Disney Company
Cherry, Bekaert & Holland, LLP Henkel Corporation Pitney Bowes, Inc. Wells Fargo
Cigna Hewitt Associates Plante & Moran, PLLC Zurich North America
CIGNA Corporation HSBC—North America PNC Financial Services Group, Inc.

9
 How does PwC select
which surveys to use?
PwC compensation experts
have analyzed a wide range
of possible surveys, and have
chosen the ones that are
conducted by well-credentialed
firms and provide valid, reliable
and compliant data relevant
to our lines of service, our
positions, and our competitor
groups. We update our vendors
and the surveys we use from
time to time, as needed, to
reflect changes in our positions,
business, or markets. In some
cases, based on feedback from
our lines of service, we work
with our vendors to develop
new surveys that collect
comparative data relevant to
specific capabilities or skill sets
that had not been previously
benchmarked.
Different Survey Sources for Different Skill Sets
within Each Line of Service
Take a look at some representative examples of how we map skill sets to our survey sources for each
line of service.
Advisory
This table contains a representative sample of some of the surveys we use for some of the skill sets associated with Advisory jobs.
CAPABILITY SOURCE SPECIALTY SURVEY
People & Change/Operations Mercer MIT Consulting Business Process Consultant—Non-technical
Financial Management Mercer MIT Consulting CFO Advisory
Mergers and Acquisitions McLagan Specialty Consulting Restructuring/Turnaround Consulting
Risk and Governance McLagan Specialty Consulting Risk Management
Compliance Management McLagan Legal and Compliance Compliance
Enterprise Applications/IT Strategy and Operations Mercer MIT Consulting Business Process Consultant—Technical
Business Systems Integration/Data Assurance Mercer MIT Consulting IT Consultant—Tech Specialty—BI/IM
Security—Strategy/IDM/TVM Mercer MIT Consulting IT Consultant—Tech—Security
Investigations/Disputes McLagan Specialty Consulting Forensic Accounting Litigation Support
Federal Government Mercer MIT Consulting Business Process Consultant—Federal Government
Strategy Mercer MIT Consulting Strategy Consultant
Financial Due Diligence McLagan Specialty Consulting Transaction Services
10

Do we include
companies outside of
the professional services
in industry—our clients
for example—when
we’re collecting data?
We establish our salary ranges
using data from our direct
competitors. We do take general
industry into account in our
overall strategy. We obtain and
review industry data. However,
general industry is not the
primary source for setting our
salary ranges since it is a very
broad category that represents
a very different pay philosophy,
wide variety of jobs, a different
career model, and a different
business model from what exists
at PwC and similar professional
service firms. That being said,
research indicates that our
salary ranges are comparable
to general industry with similar
jobs for client service associates,
senior associates, and manager
positions as well as IFS positions.
Assurance
This table contains a representative sample of some of the surveys we use for some of the skill sets associated with Assurance jobs.
CAPABILITY SOURCE SPECIALTY SURVEY
Core Attest/PCS Mercer Public Accounting Firm Survey IAudit
Risk Assurance Mercer Public Accounting Firm Survey IS Audit
Internal Audit Outsourcing Mercer Public Accounting Firm Survey Internal Audit
AIMS Mercer Public Accounting Firm Survey Actuarial Advisory
FICG (Structured Finance) McLagan Specialty Structured Finance
Real Estate Advisory Mercer Public Accounting Firm Survey Real Estate Advisory
Consumer Finance McLagan Specialty Risk Management
MIDA Mercer Public Accounting Firm Survey NYC Core Attest
Valuation McLagan Specialty Valuation
AFR McLagan Specialty Survey TS: Due Diligence
IFS
This table lists some of the surveys we use to benchmark salaries for IFS jobs.
PARTIAL LIST OF IFS SURVEYS
Hewitt Total Compensation Management Survey
McLagan Communications and Marketing US
McLagan Corporate and General Services US
McLagan Finance & Business Services US
McLagan Treasury and ALM US
Mercer Benchmark Survey
Mercer Practice Support Survey
Pearl Meyers (CHIPS) Survey
Perlin IT and HR Survey
Western Management Marketing and Sales Survey

11
Tax
This table contains a representative sample of some of the surveys we use for some of the skill sets associated with Tax jobs.

CAPABILITY SOURCE SPECIALTY SURVEY

Tax Industry Mercer Public Accounting Firm Survey Tax Services
International Tax Mercer Public Accounting Firm Survey Tax Specialty: International Tax
State & Local Tax Mercer Public Accounting Firm Survey Tax Specialty: Multi State
Mergers & Acquisitions Tax McLagan Specialty Survey Mergers & Acquisitions Tax
Tax IAS Mercer Public Accounting Firm Survey Expatriate Tax Services
National Tax Services Mercer Public Accounting Firm Survey Tax Specialty: National Tax
Tax Transfer Pricing Mercer Public Accounting Firm Survey Tax Specialty: Transfer Pricing
GHRS—Consulting McLagan Specialty Survey Transaction Services
GHRS—Core & Retirement McDermott HR Consulting Survey Core & Retirement
Structured Finance McLagan Specialty Survey Structured Finance

How is pay for experienced hires determined?

You’ve heard it asked: why do experienced hires seem to come in at higher salary levels than those
who are already here with the same amount of work experience? From time to time, this does
happen but not without careful consideration, review, and approval.

Paying a premium in order to attract high-performing talent can be necessary. Keep in mind that
over time, given the same level of performance, someone who is paid lower in the range is likely to
receive higher increases than someone who is paid on the high end of the range.

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Step 2: Factoring in additional variables
We supplement the survey information with other business and economic data on inflation, economic climate, and governmental regulations.
We also consider geographic differences and the cost of living for certain cities.

Step 3: Creating PwC salary ranges

Based on all this market research and additional factors, we create PwC salary ranges for each position. Each year, the midpoint of our salary
range will be set at or above the midpoint of what our direct competitors are paying for the same position.

It’s important to remember that each specific position level is associated with one range. An individual will likely be at the same staff level
for more than one year, and the range is designed to be broad enough to allow movement within the range. As you develop your skill set and
improve your performance in your role, you will progress through the range (see page 14).

Example of what a salary range looks like: A salary range has a beginning, a “midpoint,” and an end. As stated above, we set the PwC
midpoint for each of our salary ranges equal to or above the market data median. The range between the beginning and end of the range gets
wider with each level because at higher levels broader qualifications and experience apply to each position and people tend to stay in those
roles longer.

Typically, staff start at the beginning of the range and proceed to the middle or toward the end of the range over time. The range allows salary
room to reflect the varying qualifications, experience, and performance of individuals paid in the range. Staff new to a position (entry or
newly promoted) typically enter the salary range below the midpoint and progress through the range, with compensation increases based on
experience and performance.

Here are two examples of how skills, experience, and performance affect placement and progression through a salary range:
■ New associates entering straight from college. In each line of service, these individuals are hired at the same rate for the same
qualifications in the same city performing the same job. Before a college hire is promoted to senior associate, annual salary increases
will move an associate’s salary through the salary range and nearer to the midpoint or past the midpoint over time, provided they
performed at our expected levels
■ An experienced hire that joins the firm after several years of work experience. This individual is likely to be brought in
around the midpoint of the range, depending on his or her years of experience and credentials. (see page 12)

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Keeping our commitment to enhanced clarity
We are fully committed to communicating much more clearly about compensation, so you’ll see some new tools during your year-end conversation with
your partner or leader this year. In your total rewards meeting, your partner or leader will share your personalized compensation information, will show
you the PwC salary range for your position, and discuss your future earnings opportunities. You and your partner or leader can discuss where you fall in
your salary range and why, and what you might do in the year ahead to move along that range.

Staff are paid within a competitive range of salaries. An individual’s salary is determined by years of experience in position, performance history,
qualifications, and work history.

EXAMPLE
$55,000 $74,000
Competitor $64,000 Your Salary
market PwC Midpoint
midpoint

Competitor market midpoint; half of all individuals’ salaries in the survey data fall above and half fall below this point.
PwC midpoint; set to be equal to or higher than the competitor market midpoint.

Examples where an individual may be paid in the beginning of the range Examples where an individual may be paid at the end of the range
■  Newer to the position (newly promoted or hired) ■  Significant experience at level
■  Experienced, but historically has received lower performance ratings ■  Demonstrated mastery of required skills
■  Developing skills in some aspects of the role ■  Performance exceeds expectations over a sustained period of time in the role
■  Brings unique and/or strong qualifications to the role
Examples where an individual may be paid in the middle of the range
■  Increased experience at level
■  Demonstrates required skills for position
■  Performance meets expectations over a sustained period of time in the role

14
Salary Increases
Let’s talk about how annual salary increase budgets are determined. At the firmwide level, we
Am I eligible for a salary
take several factors into account to determine the size of our salary budget—market competitiveness,
increase? If so, when?
affordability, and broader business and economic trends. Following your annual
performance review each
The first step is a review of how our overall salaries compare to the salary survey information we receive. May, you may be eligible for
The results assist us in determining the overall salary budget. Not every line of service, job, or city will have an increase in your salary.
Annual increases depend on the
the same increase, since the market responds differently to all of those factors each year. overall increase budget, your
performance compared to that
Surveys give us valuable information on where shifts in pay have occurred and, in many cases, salary of your peers, if you are being
increase budgets will vary by position or city for our client service staff. Typically, IFS budgets are applied promoted, the position of your
current salary within your salary
consistently across geography and positions for all IFS staff, although competitive adjustments may also be
range, and your date of hire.
made, if needed. Annual increases take effect
firmwide each July 1.
The second step in our planning is an affordability review. Staff costs are a factor in firm budgeting, and
traditionally, billing rate increases (or decreases) have affected the affordability of our salary increases.
The forecasted performance of the business as well as inflation and changes in the labor market also factor into our overall salary increases.

From an individual standpoint, the most influential factor in your personal increase is the combination of where your current salary stands
in the PwC salary range and your personal performance. Promotions also play a significant role, since your salary range changes with a promotion
and your total increase will reflect that promotion component.

■■ Your performance determines whether your increase percentage will be similar to, higher than or lower than what others in your
peer group receive. If your performance is exceptional relative to the expectations of your position and the performance of your peers,
generally you should receive an increase that is higher than what many in your peer group receive.

■■ Your current salary position in the range is a factor and is weighed against your skills, experience, and years in your role. As you
reach the end of your salary range, you are likely to receive a smaller increase than staff whose salaries fall toward the beginning or
midpoint of the range and may be developing their skills more quickly.

15
Important annual bonus
plan details
To receive an annual bonus award,
eligible staff must be hired on or
before April 30 in the current year
and employed on September 1 of the
current year.
The firm determines annually what
the bonus pool funding is for the
current year based on firm and line of
service results. Bonus pools fluctuate
year to year based on these results.
Bonuses are discretionary and are
awarded based on performance.
Recognition
Annual Performance Bonus Plan
Share in the success you help achieve
Our annual performance bonus plan is an opportunity for all eligible PwC staff to potentially share
in the success of the firm—and increase their rewards through their strong individual performance
and contributions.
New for FY12—Increased participation, clarity, and opportunity
Beginning in FY12 we’re taking a new approach. We’re enhancing staff opportunity to share in the
firm’s success while continuing to differentiate and reward high performance. We are also committed
to keeping you more up-to-date throughout the year on how firm and line of service performance will
affect year-end bonus amounts.

Your line of service will share more details in early FY12, but here’s a sneak peek at the highlights:
■■ At the beginning of the fiscal year, we’ll communicate how bonus dollars are allocated by line of service, including IFS.
■■ You’ll know what metrics will determine bonus pool funding and how you can affect those metrics.
■■ The dollars that are allocated at the beginning of the fiscal year will increase or decrease based on performance against the specific
metrics identified by your line of service.
■■ The amount of dollars placed in the bonus pool is tied to the degree by which we meet our goals and is multiplied
by the degree to which we exceed our goals. This means that the bonus pool is not capped.
■■ We’ll communicate individual bonus targets by staff class and performance rating with the rollout in FY12.
■■ Each line of service, including IFS, will communicate quarterly results against firm and line of service targets and demonstrate how
those results are affecting the overall bonus allocation. This means that you will know whether the bonus you may potentially receive
could be on target, below target, or above target. At the end of the fiscal year, individual award amounts will be based on line of service
and individual performance in relation to goals.

16
Career Milestone Awards
Celebrating your successes, rewarding your loyalty
Why build a
It’s tough to be great. You must have what it takes to stick it out through every kind of challenge, when career at PwC?
moving your career elsewhere might seem like the easier path. “Opportunities are limitless.
I can be a partner here, if I want to,
It takes an extraordinary individual to do this, one who is tenacious, loyal, and committed. One who sees versus at a client company where
the recognition, opportunities, and rewards that lie ahead. At PwC, it’s great to be dedicated and persistent I can only move up if someone
toward the achievement of your goals, and we designed the Career Milestone Awards to show you exactly how retires. I feel like I’ll always be able
great it is. To thank you for your commitment to the firm. To thank you for your loyalty and your continuing to challenge myself here.”
Senior Associate
contributions to your clients and the firm.
“You can’t get this kind of experience
A promotion is a major event in the span of your PwC career. And certain promotions are key milestones. It’s anywhere else.” Associate
to celebrate these special turning points that your partners have decided to introduce the Career Milestone
Awards. With this new program, we are staking a claim on behalf of the hard-working, dedicated, and “I like the people I get to work with.
They are intelligent and highly
talented individuals who achieve the three promotions recognized under this new program: senior associate, experienced. I like the broad range
manager, and senior manager/director. Through this singular program, we’ll celebrate your success and long- and diversity of work I get to do
term PwC commitment with extraordinary opportunities for personal and professional growth and rewards. as well.” Manager

What if I was promoted before this program began?

Whenever we implement a new program, transitions are difficult and we try to take into account our loyal staff who have been with us and who might not
have the opportunity to participate simply because of timing. That’s why we’re providing modified milestone awards at the manager and senior manager/
director level. The longer your tenure at PwC, the greater your award. Why does the award vary based on your tenure at PwC? Because our Career
Milestone Awards reward both loyalty and contribution, while also considering fairness and internal equity.
Current client service managers
If you are a manager as of June 30, 2011, and you were hired as an associate, you’ll receive an extra bonus of $5,000 this year. If you are currently a
manager and were hired as a senior associate, you’ll receive $2,500. If you were hired as a manager you will not be eligible for this grandfathering, since it
is meant to recognize an achievement that was made while you were at PwC. Likewise, if you are promoted to senior manager or director, you will receive
that milestone award, not the manager milestone award.
Current senior managers/directors
If you are a senior manager or director as of June 30, 2011, and you have been with PwC for five years or more, you too will be eligible to recharge.
You are eligible to take a two-week sabbatical composed of one week given by the firm and one week of your own paid time off.

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CLIENT SERVICE: SENIOR ASSOCIATE LEADERSHIP DEVELOPMENT EXPERIENCE
To enable all new seniors to build personal leadership skills, establish, and nurture a professional and personal network of leaders and
Why? peers, and focus on their vision of a successful life, anchored in their careers, while also achieving personal goals.
Participate in a highly personalized offsite Senior Associate Leadership Development Experience that includes:
What? ■■ Executive coaching
■■ Small group collaboration & network sessions
■■ Interaction with firm leaders and peers
■■ A structured follow-up process, including mentoring for ongoing support
Most companies reserve this type of leadership experience for their most senior level staff. We feel, however, it is important to make an
investment in our senior associates early on, as they grow their careers with the firm.
IFS
Client service has a senior associate leadership development milestone award, while IFS doesn’t at this time. We feel it’s a crucial time in
the client service senior associate experience to provide a unique developmental leadership opportunity required for the demanding client
facing roles. It also allows our seniors to broaden their professional network as their careers grow.

CLIENT SERVICE: MANAGER AWARD

To recognize the significance of this promotion and the personal investment you have made to reach this status, reward your loyalty, and
Why? acknowledge your long-term contributions to the firm.
A cash award to help you build your personal capital or to use for a significant purchase.
What? Promotion year Percentage of salary Date payable Qualifications
2011 15% April 15, 2012 If you are hired as:
2012 20% April 15, 2013 • An associate, then 100% of the award is paid.
• A senior associate by October 1, 2010, then 50% of the award is paid.
2013 25% April 15, 2014

We're staging the manager milestone award, as shown in this chart, so that by 2013, senior associates who are promoted to manager will be
eligible to receive 25% of their new manager salary. While we would have liked to have been able to introduce a 25% manager milestone this
year, we had to consider affordability, internal equity for managers already at this level, and fairness for those promoted in years past. These
issues combined led us to conclude that it was best to phase this milestone in over three years. This approach allows us to recognize those
who have recently arrived at this milestone while also encouraging the loyalty and continued service of those on the path to achieving it.

IFS
In IFS, we want to recognize your loyalty and encourage you to build you career here. So, when you advance to manager, we’ll provide a
leadership development experience that will help you build skills for the future.

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 CLIENT SERVICE/IFS: SENIOR MANAGER/DIRECTOR SABBATICAL

To reward your sustained significant contributions and value to the firm with time away to refresh, recharge, and pursue your personal or
Why? professional goals outside of work.

If you have been with PwC for five years or more when you are promoted, you will receive a paid sabbatical to be taken within three
What? years of promotion.

If you are promoted in… You will receive…

July 2011 or after A four-week sabbatical: three weeks given by the firm, plus one week of your vacation

Coming in July: look for more information about how to make the most of your sabbatical, including tips for planning your time
away from work, ideas on how to give back to your community (if that’s how you decide to use your time), ways to structure your
client work in the months leading up to your sabbatical and more.

Experienced Associate Milestone

Early in your PwC career, you’ll already have accomplished a great deal: entry into the fast-paced, high performance PwC experience, associate training,
and exciting client engagements. You have some seasoning behind you and an exciting path ahead of you. Soon, you’ll be joined by a class of colleagues
who will look to you for guidance and advice as they enter the experience you’ve just completed.

This too is a milestone, and it’s significant enough that we’re acknowledging it with a new title: experienced associate. We’re introducing this new title as a
way to recognize what you’ve accomplished so far. The timing and recognition of this milestone will vary by line of service.

It’s our way of saying: Good work! You’re on your way!

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Contribution Awards
Recognizing your extraordinary contributions
Contribution awards recognize outstanding performance in meeting internal and external client needs Starting July 1, 2011, contribution
that go above and beyond the regular expectations of your position. awards replace We Recognize
Great Performance Awards.
Partners and leaders provide contribution awards throughout the year. Real-time recognition through
these awards is one way to demonstrate the sincere appreciation for the many things you do day-in and
Another reason to look
day-out. Contribution awards recognize highly exceptional discretionary effort and performance forward to summer!
in providing internal and external client service that goes above and beyond the high expectations of
your position. This year, the firm will be providing
an additional holiday and shut
down July 1 - 4 to celebrate the
Discretionary effort and performance are defined by firm behaviors that go above and beyond the July 4 holiday.
standard. By design, these awards are special recognition awards. While a significant number of
To make the most of this four-day
employees may receive these awards each year, the program is not designed for all employees at every
weekend, we strongly encourage
level to receive a contribution award every year. Each line of service budgets and delivers these awards you to enjoy an extended break
to meet their unique work schedules and priorities. and use some of your vacation
time in conjunction with the
extended holiday.
Firmwide Extended Holidays
Pursue quality of life
It’s amazing what we can achieve when we don’t have to worry about the demands of work. But how often does that happen? Even during the
smoothest times, integrating life and work can be challenging enough. That’s why the firm wants to create opportunities for everyone to rest,
relax, and rejuvenate through firmwide extended holidays.

Firmwide extended holidays are not a substitute for vacation—they’re a valuable opportunity to receive paid time off without the worry of
checking email or meeting client demands, other than in exceptional circumstances.

While business realities require us to retain the flexibility to determine whether and when we will offer these extended holidays, going forward,
we’ll announce them with more lead time, to give you time to plan a trip, schedule time with your family, or do whatever it is that allows you to
relax and refresh.

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How does PwC help
you pursue a balanced
quality of life?
“I have switched offices, taken
a year off, and I can do a
rotation in another division if I
want. Also, the four weeks of
vacation time is really good. It’s
one of my favorite pieces of the
total rewards.”
Manager
“There’s great flexibility and
vacation time.”
Senior Associate
Career Growth
Direct and drive your destiny
Careers with PwC are rewarding—and not just because the experiences, people, and growth opportunities
are unmatched from what you will find in private industry or at any other public accounting or consulting
firm. PwC also offers exceptional opportunities to direct and personalize your career path so that it’s
personally and professionally rewarding over the long term.
You may experience a career progression that keeps you in your chosen profession and extends from
associate to director or partner. Or you may have several different “careers” with the firm, moving from
one line of service to another, from one geography to another or between a client service role and an
internal firm services role.
Alternatively, you also may decide that PwC is a launching pad for a career elsewhere. The skills,
experiences, and people you encounter while you’re at the firm will provide you with a rich portfolio of
skills to build on, and the “PwC” on your resume will always be an eye-catcher. And, you never really leave
us. We consider this a lifelong relationship—we’ll keep in touch with you through our various alumni
programs and always hope you choose to return.
No matter what your career aspirations are and however you define career value, you’ll find that PwC is
a great place to start, build, and grow a career. So take advantage of the opportunities and flexibility PwC
offers to drive your career ahead in ways that are right for you and your interests—because each career is
distinctive, and, of course, personal.
Remember: only you control your destiny—but count on us to celebrate your progress along the way.
Visit the myKcurve Careers site at www.mykcurve.pwcinternal.com for more information.
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Associate
Your starting salary when you
joined PwC as an associate.
Experienced Associate
As an experienced associate, you
can expect to make 1.1 times the
salary you started at when you
joined PwC as an associate.
Sr. Associate
As a senior associate, you can
expect to make 1.5 times the
salary you started at when you
joined PwC as an associate.
Manager
As a manager, you can expect
to make 2 times the salary you
started at when you joined PwC
as an associate.
3D Growth for Deeper Skills and Higher Earnings
In our fast-paced, learning-intensive environment, career growth at PwC involves three dimensions—
depth, breadth, and contribution. Over time, you deepen your skills and knowledge to function at even
higher levels of expertise. You may grow in breadth by taking on management responsibilities or by
gaining experience in a different line of service or geography. And as your PwC career progresses you can
turn that depth and breadth into value for the firm and for yourself through your contributions.
This invaluable three-dimensional growth results in an exponential career curve that yields more
advanced skills and higher long-term earnings. The following chart shows how earnings might potentially
grow over time within PwC. Keep in mind that the curve shown here is for an individual who starts as an
associate and makes a career here. The ratios will change, depending on the career stage at which you
begin your PwC career, but you can experience healthy growth in your skills and earnings potential as you
earn promotions.

Base Salary Potential ($)

8X
Sr. Manager/Director
7X
As a senior manager or director,
you can expect to make 3 times
6X
the salary you started at when
you joined PwC as an associate. 5X
Managing Director
4X
New Partner
On average, as a new partner, you 3X
can expect to make approximately 7
times the salary you started at when 2X
you joined PwC as an associate.
1X
Career Progression

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Success Plans
Talking about what you want to do and where you want to go—helping to set you up for success
How do you help
PwC is a large organization populated with intelligent, motivated people. While that may seem daunting create value at PwC?
at times, we believe it also creates a world of opportunity to grow your career and be supported by a large “PwC has good resources not
network of partners and coaches to help you every step of the way. only to help you learn, but to
teach others what you know.”
The same goes for the experience at PwC: it’s broad, and deep, and that can seem overwhelming. But, it Senior Associate
means you can determine what interests you, and where you want to take your career—and then, make it
“I am part of the PwC brand.
happen, with the support of our partners and coaches. At PwC, you have the opportunity to explore career At the end of the day, I’m the
options in other lines of service and other offices, other states and other countries. That’s the beauty of a organization I work for.”
global network and the people who bring it to life. Director

“I’m motivated by my team.

Some of the formal process in place today, including completing a development plan, can be improved to
I’m concerned with helping my
better help you see these possibilities and support you in pursuing them. Based on your feedback, we’ve team out, not the number I’m
recognized your concern that the approach to development planning seems to be more about deadlines and going to get.”
“checking a box” than about a meaningful working plan. Associate

That’s why, starting this year, we’re revising our development planning process. The first changes you’ll What are your career
see are to the form itself—it’ll be streamlined, and it’s now called a “success plan.” And that’s important— goals at PwC?
because it refreshes our outlook and helps to better focus us on the conversation rather than the form.
“At first my goal was to make
That’s not all. We know the real impact is in the conversation you have with your coach—because that’s the manager. And now I’ve got the
starting point for driving your career ahead. We all want a conversation that’s real, personal, and honest challenge of making director.”
Senior Manager
about our individual goals, career interests, and how we see the potential to grow our own careers. So…get
real, get personal, and be honest. Talk to your partner or coach about the opportunities you see out there—
whether it’s another job, a domestic or global assignment, or a more challenging assignment in your current
role. Ask for their input. Look to the future. Have the conversation. Because, in a change from past years,
you won’t fill out your success plan until after you’ve met with your coach and discussed the coming year.
This makes the conversation the driver, not the end state.

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What would make your
performance discussions
more valuable?
“You’ve got to have a two-way
conversation for the discussion
to be valuable. If you don’t get
to speak for yourself and your
manager speaks for you, your
value gets lost in translation.”
Manager
“Getting information along the
way would make the discussions
more valuable to me.”
Senior Associate
“It would be nice to know how
much is available in the bonus
pool and how much will be given
to each rating.”
Senior Manager
You’ll talk, and then write.
So, when you complete your form, you’ll already have discussed and agreed with your coach about
what you want to accomplish in the coming year and beyond to:
■■ Develop the skills you need to deliver contributions for your clients and the firm,
■■ Balance your personal life and your work life,
■■ Strengthen your relationship skills,
■■ Enhance your technical knowledge,
■■ Earn the credentials you would like, on time, and
■■ Grow your career through experiences tailored to your strengths and interests—not only in the
coming year, but in the next five to ten years.
You’ll understand how you and your coach see your potential for career growth here at PwC and what that
means, including what adjustments you should make to achieve your goals.
We’ve already put quarterly coaching sessions into place and the success plan is another tool for you to
use during these sessions to see if you’re accomplishing what you want.
There’s an old saying that failure to plan is planning to fail. Your success plan will help you to plan,
to look ahead, pinpoint opportunities and construct your own roadmap to a satisfying future, built on
your personal goals and interests. It will help you tie that roadmap to potential career paths, potential
outcomes, and potential compensation. It’s just one more way to drive your career, and succeed.
It’s just the beginning…
This guide isn’t the last word on your pay, career, and rewards at PwC. It’s just the beginning of a very
important, candid conversation. To continue the conversation, talk to your partner or leader. He or
she can explain how the rewards described in this guide affect you and your career. And remember,
throughout the year, you can expect your partner or leader and your coach to:
■■ Help you set goals,
■■ Discuss your longer-term career plans and potential, and
■■ Provide regular, open, candid, and supportive feedback.
At the same time, your partner or leader will expect the same things from you. After all, conversations
are two-way by nature—so give back what you get!
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