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Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
This week PwC announced it will offer senior staff in the UK who will never become partner a new “managing director” title as a way to hold on to senior accountants at the firm. The position would also allow the company to offer higher salaries to external hires who wouldn’t pass those criteria, one person briefed on the plan said. And those who hold the title would be ineligible from progressing to partner rank.
“Our new MD grade will give us more flexibility to recruit and retain key talent,” said Marco Amitrano, who is himself a senior partner. “The grade is distinct to equity partner and opens up a new career path for high performers. It will create opportunity and give us greater agility in the market.”
But how much do job titles really matter? There is an undeniable trend in some companies for calling what seems like half the workforce a “vice-president” or “chief” in order to attract or retain talent. Counter to that, bosses have called themselves everything from chief underpants officer (Joe Boxer founder, Nick Graham) to Elon Musk’s infamous role: technoking of Tesla.
So what do you think — how much do job titles matter? Tell us your view by voting in our poll or commenting below the line.
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