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Consultants upset with year-end bonuses

Bonuses at consulting firms rebounded in 2004, but not nearly enough to stop retention from becoming a major headache in 2005. A staggering 53 percent of all consultants appear dissatisfied with their year-end bonuses, a worrying statistic for all those HR departments that have made retention a key goal for 2005.
Written by ZDNET Editors, Contributor
Bonuses at consulting firms rebounded in 2004, but not nearly enough to stop retention from becoming a major headache in 2005. A staggering 53 percent of all consultants appear dissatisfied with their year-end bonuses, a worrying statistic for all those HR departments that have made retention a key goal for 2005.

These are just some of the explosive findings emerging from Top-Consultant.com's definitive survey of 1500 management consultants, which this last 2 weeks polled consultants from across the global market and incorporates the views of employees from firms like Accenture, IBM, BCG, McKinsey, EDS, PA Consulting and a whole raft of other major and niche consulting firms.

Broadly speaking the survey shows that bonuses in 2004 were up compared to 2003 in the core UK, European and U.S. markets--though a more detailed analysis is still being prepared. The full results of the survey are to be published in the first edition of Consulting Times, a new monthly PDF publication that all Top-Consultant subscribers will be entitled to download from February 2005.

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