Partners cashed in at PwC
(Picture: Getty Images)UK partners at accountancy and consulting firm PwC were paid an average of more than £1 million for the first time last year.
The London-based giant said consulting revenues were up by a third reflecting “exceptional clients demands to challenges and opportunities on multiple fronts”.
This was topped up by an average of £105,000 per partner in the firm of a distribution from the sale proceeds of PwC’s global mobility and immigration arm, making a total of £1.025 million.
The bonus pool was up £10 million at £138 million.
Overall revenues grew 12% to top £5 billion, up from 2% growth in 2021, when activity was initially suppressed by the pandemic and then rebounded in the second half.
PwC’s Chair and senior partner Kevin Ellis said: “Our business is diverse - demand across all our services has driven our strong performance. This reflects exceptional client demands to challenges and opportunities on multiple fronts. It is a testament to the quality of our people and services and the multi-year investments we have made.
“Our clients have drawn on specialist skills and experience from across our business in response to the pace of change as they’ve dealt with supply chain complexity, the accelerated climate change challenge, energy scarcity and higher inflation issues. In the face of disruption they want to understand how technology can help them as they transform their businesses.”
