PwC in the UK have just released their results. So how much did each partner make?
PricewaterhouseCoopers is a great company. It’s one of the top companies in the world and it’s also a truly global company. The latest reported figures show over 160,000 PwC people working around the world including 8,500 partners.
On Monday PwC released their UK results for the year ended June 2010.
So, how did they do?
First of all the good news. Their turnover in the UK rose 4% to £2.33 billion.
Their profit before tax in the UK however fell 3% to £665 million.
This fall in profit was put down to some significant investment during the year including recruiting 1,750 staff, appointing 57 new partners and moving into a new environmentally friendly office in London (incidentally, there’s a previous blog entry on the proximity of a PwC office to a Ernst & Young office here).
As maybe a positive sign on their view as to which direction the economy is heading they also stated that they were planning on creating 800 new jobs in the UK over the next year as well as continuing with their significant graduate recruitment by taking on 1,200 new graduate level joiners.
Now onto the exciting bit that I’m sure lots of people are interested in and that is what is the average payout for each of the 820 PwC UK partners?
Although it was down by 2% on the previous year it was still a healthy average figure of £759,000 per partner.
PwC’s UK chairman, Ian Powell, was reported as receiving £3.6 million.