London Daily

Focus on the big picture.
Thursday, Sep 18, 2025

PwC partners land record £920,000 payouts as pandemic revenue surge continues

PwC partners land record £920,000 payouts as pandemic revenue surge continues

A windfall from the sale of the big four firm's mobility services arm will take average partner pay for the last financial year through the £1m barrier.
Partners at PricewaterhouseCoopers (PwC) will see their total pay for the last financial year hit seven figures for the first time after an "exceptional" trading period boosted profits at Britain's biggest audit firm.

Sky News has learnt that the big four accountancy group briefed the 950 members of its top executive tier this week that it made average profit-per-partner of £920,000 in 2021-22 - up about 15% on the previous year's figure.

In addition to that £920,000 figure, UK partners will share a previously disclosed average windfall of about £100,000 generated by the sale of PwC's global mobility services business.

The bumper payouts will underline the extent to which firms such as PwC have enjoyed a financially stellar pandemic, with its consulting arm buoyed by government and private sector client demand.

They will also come at a sensitive time, given recent calls by the governor of the Bank of England and ministers for private sector bosses to exercise pay restraint amid rampant inflation.

PwC insiders pointed to the fact that the fruits of its impressive performance were being shared broadly across the firm, with more than £120m being invested in 9% pay rises for thousands of staff, as well as £138m in bonuses.

Partners were told this week that while profit-per-partner had surged to £920,000, it was likely to slip back to approximately £900,000 in the current financial year as a result of increased investment in PwC's people and technology.

In a statement in response to an enquiry from Sky News, Kevin Ellis, PwC's UK chair and senior partner, said: "Our business is in a strong place thanks to the breadth of our services and clients, the skills of our people, and the investments we've made.

"It has been an exceptional year, but we can't take this for granted.

"With economic headwinds facing all businesses including rising costs and the tightness of the labour market, we have to shore up with further investment, particularly in people, skills and technology.

"These investments are likely to reduce our profit per partner next year but given the expected boost to financial performance over the medium to longer term, it's right that we make these investments now."

Mr Ellis added that PwC had recruited more than 2000 UK school-leavers and graduates during the last financial year.

The separate windfalls from the mobility sale followed a $2.2bn deal with the private equity firm Clayton Dubilier & Rice that completed in April.

In total, PwC UK was allocated roughly £100m of the proceeds to pay out to partners and invest in its operations.

The record partner pay at PwC is likely to be announced when its audited financial results are published in the autumn.

They will come ahead of a radical shake-up of the way auditors are regulated in Britain, while a wider debate takes place about the future structure of the big four firms which dominate the profession.

That debate has been sparked by EY's plan to formally separate its audit and consulting arms, with UK-based partners at the firm being briefed on further details of its proposals this week.
Newsletter

Related Articles

0:00
0:00
Close
Macron and his wife to provide 'scientific photographic evidence' that she is a real woman
US Tech Giants Pledge Billions to UK AI Infrastructure Following Starmer's Call
Saudi Arabia cracks down on music ‘lounges’ after conservative backlash
DeepMind and OpenAI Achieve Gold at ‘Coding Olympics’ in AI Milestone
SEC Allows Public Companies to Block Investors from Class-Action Lawsuits
Saudi Arabia Signs ‘Strategic Mutual Defence’ Pact with Pakistan, Marking First Arab State to Gain Indirect Access to Nuclear Strike Capabilities in the Region
Federal Reserve Cuts Rates by Quarter Point and Signals More to Come
Effective and Impressive Generation Z Protest: Images from the Riots in Nepal
European manufacturers against ban on polluting cars: "The industry may collapse"
Sam Altman sells the 'Wedding Estate' in Hawaii for 49 million dollars
Trump: Cancel quarterly company reports and settle for reporting once every six months
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
US Launches New Pilot Program to Accelerate eVTOL Air Taxi Deployment
Christian Brueckner Released from German Prison after Serving Unrelated Sentence
World’s Longest Direct Flight China Eastern to Launch 29-Hour Shanghai–Buenos Aires Direct Flight via Auckland in December
New OpenAI Study Finds Majority of ChatGPT Use Is Personal, Not Professional
Hong Kong Industry Group Calls for HK$20 Billion Support Fund to Ease Property Market Stress
Joe Biden’s Post-Presidency Speaking Fees Face Weak Demand amid Corporate Reluctance
Charlie Kirk's murder will break the left's hateful cancel tactics
Kash Patel erupts at ‘buffoon’ Sen. Adam Schiff over Russiagate: ‘You are the biggest fraud’
Homeland Security says Emmy speech ‘fanning the flames of hatred’ after Einbinder’s ‘F— ICE’ remark
Charlie Kirk’s Alleged Assassin Tyler Robinson Faces Death Penalty as Charges Formally Announced
Actor, director, environmentalist Robert Redford dies at 89
The conservative right spreads westward: a huge achievement for 'Alternative for Germany' in local elections
JD Vance Says There Is “No Unity” with Those Who Celebrate Charlie Kirk’s Killing, and he is right!
Trump sues the 'New York Times' for an astronomical sum of 15 billion dollars
Florida Hospital Welcomes Its Largest-Ever Baby: Annan, Nearly Fourteen Pounds at Birth
U.S. and Britain Poised to Finalize Over $10 Billion in High-Tech, Nuclear and Defense Deals During Trump State Visit
China Finds Nvidia Violated Antitrust Laws in Mellanox Deal, Deepens Trade Tensions with US
US Air Force Begins Modifications on Qatar-Donated Jet Amid Plans to Use It as Air Force One
Pope Leo Warns of Societal Crisis Over Mega-CEO Pay, Citing Tesla’s Proposed Trillion-Dollar Package
Poland Green-Lights NATO Deployment in Response to Major Russian Drone Incursion
Elon Musk Retakes Lead as World’s Richest After Brief Ellison Surge
U.S. and China Agree on Framework to Shift TikTok to American Ownership
London Daily Podcast: London Massive Pro Democracy Rally, Musk Support, UK Economic Data and Premier League Results Mark Eventful Weekend
This Week in AI: Meta’s Superintelligence Push, xAI’s Ten Billion-Dollar Raise, Genesis AI’s Robotics Ambitions, Microsoft Restructuring, Amazon’s Million-Robot Milestone, and Google’s AlphaGenome Update
Le Pen Tightens the Pressure on Macron as France Edges Toward Political Breakdown
Musk calls for new UK government at huge pro-democracy rally in London, but Britons have been brainwashed to obey instead of fighting for their human rights
Elon Musk responds to post calling for the murder of Erika Kirk, widow of Charlie Kirk: 'Either we fight back or they will kill us'
Czech Republic signs €1.34 billion contract for Leopard 2A8 main battle tanks with delivery from 2028
USA: Office Depot Employees Refused to Print Poster in Memory of Charlie Kirk – and Were Fired
Proposed U.S. Bill Would Allow Civil Suits Against Judges Who Release Repeat Violent Offenders
Penske Media Sues Google Over “AI Overviews,” Claiming It Uses Journalism Without Consent and Destroys Traffic
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
French Debt Downgrade Piles Pressure on Macron’s New Prime Minister
US and UK Near Tech, Nuclear and Whisky Deals Ahead of Trump Trip
One in Three Europeans Now Uses TikTok, According to the Chinese Tech Giant
Could AI Nursing Robots Help Healthcare Staffing Shortages?
NATO Deploys ‘Eastern Sentry’ After Russian Drones Violate Polish Airspace
Anesthesiologist Left Operation Mid-Surgery to Have Sex with Nurse
×