KPMG UK Partners enjoy a record salary
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The UK Partners at KPMG enjoyed their biggest ever salary last year, as the cost reduction increased the profit of the large four despite slowing down revenue growth.
Payments for partners in the UK KPMG climbed to 9 percent on an average of £ 816,000 for the year until the end of September, the company said on Wednesday.
The accounting company informed the increase in revenue of 1 percent for a year by the end of September to £ 2.99 billion, which is a sharp slowdown in the previous two years, when the growth was 9 or 16 percent.
However, profit rejected 11 percent of the year at £ 404 million, after KPMG took “cost management” steps. Company Shos 200 role In June in the midst of slowing down demand, and freeze payment For about 12,000 UK employees in 2023.
The same year and a company abolished his older ranksleaving your partnership at the lowest level in more than two decades and increasing individual payments. KPMG had 833 UK partners who divided in their profit in 2023, increased to 837 last year.
The leap of the profit revealed a drop of almost 20 percent compared to the previous year, and it meant that the bonus pot of the company was 20 percent higher in 2024. For staff not a partner.
The profit of the KPMG leaves its partners in the third place for the salary among the big four. PWC -UI EY partners have suffered 5 percent of salaries reduction in 2024, with an average payment of £ 862,000, or £ 723,000, while the Deloitte partners have been awarded an average of £ 1 million per year in the last four years.
The KPMG UK consulting hand was influenced by the slowdown of demand for advisory services and reported a 4 percent reduction in sales. The tax and legal department rose by 9 percent, encouraged by the changes to tax laws, while the audit increased by 5 percent.
Jon Holt, Executive Director KPMG UKHe said, “This is a good effect in challenging market conditions.”