fb

Who earns the most out of a PwC or Deloitte partner and who’s suing Deloitte for $7.6bn?

Who earns the most out of a PwC or Deloitte partner and who’s suing Deloitte for $7.6bn?

The Financial Times or FT as it is generally known, is a great newspaper.

First printed way back in 1888 by James Sheridan and Horatio Bottomley, the FT specialises in business and financial news.

You can find a lot of information in the FT.

Information ranging from share prices to the latest business activities can all be found within the paper’s famous light salmon coloured covers.

They have also recently highlighted some interesting figures about the average partner remuneration in the UK firms of PwC and Deloitte.

In the year to 30 June 2011 the average profit share for each PwC partner in the UK was a healthy £763,000.

In the previous year to 30 June 2010, Ian Powell, the Chairman of PwC, received £3.6 million. The latest figures show that he managed to increase this amount to £3.7 million in the year ended 30 June 2011.

But what about PwC’s fellow Big 4 partners from Deloitte?

Even though the Deloitte figures are not entirely comparable with PwC’s due to differences in the treatment of past pension obligations, the results are interesting and it’s not all good news for Deloitte partners in the UK.

This year saw their average profit share fall by 13%. They now have to scrape by with £758,000 per year compared to the £873,000 that they had the year before.

Whilst figures are available for the UK Deloitte partners they are not currently available for the Deloitte partners from over in the US.

My guess though is that the US Deloitte partner’s profit shares may well be reduced this year though as money may be held back for potential legal fees after it was announced today that Deloitte in the US are being sued for the princely sum of $7.6 billion.

They are accused of failing to detect fraud during their audits of a US mortgage firm which went out of business during the US housing crash.

A Deloitte spokesman was quoted in the press as saying the court claims were “utterly without merit”.

Share this entry

Recent articles

View All Articles
Out of this world fashion.
Oct 18, 2024
Title
Out of this world fashion.
Excerpt

If you’re lucky enough to buy your clothes from Prada, will your next purchase be a nice dress, […]

Should we park this?
Oct 16, 2024
Title
Should we park this?
Excerpt

Getting the balance right between innovation and ethics is important in business. Frankfurt’s new parking portal offers an […]

Would a good liar make a good accountant?
Oct 12, 2024
Title
Would a good liar make a good accountant?
Excerpt

Do you have children? Have they ever told you a lie? Even a small teeny weeny lie? Well, […]

Was that true? Was that fair?
Oct 09, 2024
Title
Was that true? Was that fair?
Excerpt

I’ve been a qualified accountant for a fair few years now. I had the pleasure of bumping into […]

How much do Big 4 partners get paid?
Oct 03, 2024
Title
How much do Big 4 partners get paid?
Excerpt

Making it to partner at one of the Big 4 accounting firms—Deloitte, EY, KPMG, and PwC—is considered by […]

Problems at Naomi Campbell’s charity…
Oct 02, 2024
Title
Problems at Naomi Campbell’s charity…
Excerpt

The Supermodel Naomi Campbell was recently banned from serving as a charity trustee for five years. This all […]

Lego – building strategy blocks…
Sep 29, 2024
Title
Lego – building strategy blocks…
Excerpt

Many a parent has felt the pain of standing on a Lego brick which their son or daughter […]

Famous accountants, but not for accounting…
Sep 27, 2024
Title
Famous accountants, but not for accounting…
Excerpt

Accounting, often called the “language of business”, has served as a foundational skillset for many who’ve achieved greatness […]