London Daily

Focus on the big picture.
Thursday, Oct 09, 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
France: Less Than a Month After His Appointment, the New French Prime Minister Resigns
Hungarian Prime Minister Viktor Orbán stated that Hungary will not adopt the euro because the European Union is falling apart.
Sarah Mullally Becomes First Woman Appointed Archbishop of Canterbury
Mayor in western Germany in intensive care after stabbing
Australian government pays Deloitte nearly half a million dollars for a report built on fabricated quotes, fake citations, and AI-generated nonsense.
US Prosecutors Gained Legal Approval to Hack Telegram Servers
Macron Faces Intensifying Pressure to Resign or Trigger New Elections Amid France’s Political Turmoil
Standard Chartered Names Roberto Hoornweg as Sole Head of Corporate & Investment Banking
UK Asylum Housing Firm Faces Backlash Over £187 Million Profits and Poor Living Conditions
UK Police Crack Major Gang in Smuggling of up to 40,000 Stolen Phones to China
BYD’s UK Sales Soar Nearly Nine-Fold, Making Britain Its Biggest Market Outside China
Trump Proposes Farm Bailout from Tariff Revenues Amid Backlash from Other Industries
FIFA Accuses Malaysia of Forging Citizenship Documents, Suspends Seven Footballers
Latvia to Bar Tourist and Occasional Buses to Russia and Belarus Until 2026
A Dollar Coin Featuring Trump’s Portrait Expected to Be Issued Next Year
Australia Orders X to Block Murder Videos, Citing Online Safety and Public Exposure
Three Scientists Awarded Nobel Prize in Medicine for Discovery of Immune Self-Tolerance Mechanism
OpenAI and AMD Forge Landmark AI-Chip Alliance with Equity Option
Munich Airport Reopens After Second Drone Shutdown
France Names New Government Amid Political Crisis
Trump Stands Firm in Shutdown Showdown and Declares War on Drug Cartels — Turning Crisis into Opportunity
Surge of U.S. Billionaires Transforms London’s Peninsula Apartments into Ultra-Luxury Stronghold
Pro Europe and Anti-War Babiš Poised to Return to Power After Czech Parliamentary Vote
Jeff Bezos Calls AI Surge a ‘Good’ Bubble, Urges Focus on Lasting Innovation
Japan’s Ruling Party Chooses Sanae Takaichi, Clearing Path to First Female Prime Minister
Sean ‘Diddy’ Combs Sentenced to Fifty Months in Prison Following Prostitution Conviction
Taylor Swift’s ‘Showgirl’ Launch Extends Billion-Dollar Empire
Trump Administration Launches “TrumpRx” Plan to Enable Direct Drug Sales at Deep Discounts
Trump Announces Intention to Impose 100 Percent Tariff on Foreign-Made Films
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Singapore and Hong Kong Vie to Dominate Asia’s Rising Gold Trade
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Manhattan Sees Surge in Office-to-Housing Conversions, Highest Since 2008
Switzerland and U.S. Issue Joint Assurance Against Currency Manipulation
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Thomas Jacob Sanford Named as Suspect in Deadly Michigan Church Shooting and Arson
Russian Research Vessel 'Yantar' Tracked Mapping Europe’s Subsea Cables, Raising Security Alarms
New York Man Arrested After On-Air Confession to 2017 Parents’ Murders
U.S. Defense Chief Orders Sudden Summit of Hundreds of Generals and Admirals
Global Cruise Industry Posts Dramatic Comeback with 34.6 Million Passengers in 2024
Trump Claims FBI Planted 274 Agents at Capitol Riot, Citing Unverified Reports
India: Internet Suspended in Bareilly Amid Communal Clashes Between Muslims and Hindus
Supreme Court Extends Freeze on Nearly $5 Billion in U.S. Foreign Aid at Trump’s Request
Archaeologists Recover Statues and Temples from 2,000-Year-Old Sunken City off Alexandria
China Deploys 2,000 Workers to Spain to Build Major EV Battery Factory, Raising European Dependence
Speed Takes Over: How Drive-Through Coffee Chains Are Rewriting U.S. Coffee Culture
U.S. Demands Brussels Scrutinize Digital Rules to Prevent Bias Against American Tech
Ringo Starr Champions Enduring Beatles Legacy While Debuting Las Vegas Art Show
Private Equity’s Fundraising Surge Triggers Concern of European Market Shake-Out
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
×