PWC partners receive largest pay rise since 2010

PWC-Building-2013

PricewaterhouseCooper’s (PWC) 854 partners have received their biggest salary increase since 2010.

Partners at the professional services firm each received, on average, £722,000 in 2013/14, an increase in salary of £11,000 from 2012/13.

The increase in pay has been attributed to the organisation’s performance, with the organisation reporting increased total profits for the year of £772 million, up from £750 million in 2013.

It also reported revenue growth of 5% to £2.8 billion in 2014, up from £2.6 billion.

Each of its four business divisions grew, with the assurance practice, which includes the audit business, growing by 6% to £1.25 billion, tax by 5% to £714 million, deals by 3% to £580 million, and consulting by 4% to £495 million.

Ian Powell, chairman and senior partner at PWC, said: “Our strong performance reflects an improving economy, the growing confidence of our clients and the ongoing investment we have made in the firm over the past six years to create a responsible, profitable and well-diversified organisation.

“Encouragingly, the UK economy is showing positive signs of rebalancing. We are seeing significant growth potential in the UK regions and the announcement of infrastructure investment in the northern corridor will provide a further boost.”