Big Four

PwC to unveil record £868,000 partner pay

The reported rise in partner pay follows a better-than-expected pandemic period, with the £818,000 figure representing a 7% increase even on 2019’s pre-pandemic levels

PwC is reportedly set to increase its average partner pay by 19% year-on-year to £818,000 for the year ended 30 June.

According to Sky News, the group’s approximately 900 partners have been told they will receive an additional £50,000 payout funded by the sale of the group’s technology platform and additional smaller disposals.

The average profit-per-partner of £868,000 would represent the largest figure in PwC’s UK history.

The reported rise in partner pay follows a better-than-expected pandemic period, with the £818,000 figure representing a 7% increase even on 2019’s pre-pandemic levels.

However, a source close to the firm told Sky that the results, which will be unveiled as a part of PwC’s annual results in September, remain unaudited and subject to revision.

Kevin Ellis, UK chairman and senior partner at the Big Four firm, also told the publication: “After a challenging first half of the year, we’ve experienced really good growth across our business, and it’s come from private sector demand for deals, financing, digitisation and supply chain transformation services.

“This growth has funded record staff bonuses and further investment in our people, from health and wellbeing to digital skills training and job creation.”

He added that support for “employment and skills” throughout the UK will “continue to be a top priority” at the group.

Accountancy Today has contacted PwC for further comment.

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