Just to gauge the climate out there - probably a question for those high up in the ranks, how bad is the situation now ? Is it getting any worse or better? Esp firms like KPMG, Accenture, E&Y etc which were having tough times initially, any insight on PwC and Deloitte?

The situation is near the bottom. I think the free fall has stabilised. Might fall a bit more, but its going to be small and minimal falls. The market needs the remainder of this year and some of the next before some growth resumes. But even then, growth will be tapered till the end of '10. In '11 onwards, the credit crisis will be conveniently forgotten ( just like .com crash, enron scandals, etc) and then we will see strong growth and bubbles in various sectors again ....which will last for a few yrs....before...u guessed it...the same bust will happen again ( but maybe not to this extent)...this is nothing but history repeating itself.....

I find it very strange how people comment with authority that 'growth will soon, but be tampered until 10' etc. It seems to be me that one or two people have come out and said that growth will resume in '10 and then everybody has taken that and run with it. Passing off this one liner like it is their strategic insight on the economic situation. I'm not saying its wrong, I just wonder what the evidence base is?

my salary rose from 8c/hr to 10c/hr. Thats the basis of my conclusions.