PwC UK partner pay nears record levels after cost cuts

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PwC UK partner pay nears record

Highlights

PwC UK partners are projected to receive an average payout above £900,000 for the year to June 30, over 5% higher than last year's £865,000.
Total PwC UK staff declined from 36,000 to 33,700 amid a consulting slowdown and industrywide job cuts, affecting partner profit shares for the year to June 2025.
PwC's projected partner payout surpasses KPMG's £880,000 and EY's £787,000 averages but remains below Deloitte's £1.05 million for last year.

Partner payout outlook for 2026

As reported by Financial Times, citing Sky News, average profit per partner at PwC is expected to rise by a little over 5 per cent from the £865,000 paid in the previous year, according to people familiar with the matter. The projected payout applies to PwC’s 973 partners for the year to June 30, although the final figure can still change because the firm’s accounts have not been finalised.

One person close to the firm says there is still movement in the figures, while another says executives could retain part of the profits for investment in the business. PwC declines to comment.

A payout above £900,000 would bring remuneration close to the levels recorded in 2022 and 2023 under former senior partner Kevin Ellis, when strong work from PwC UK’s Middle East business helped keep average profit per partner above that threshold for two consecutive years.

Consulting slowdown and sector comparison

PwC is navigating a prolonged market slowdown, especially in consulting, where companies are delaying or reducing projects as they rein in discretionary spending. That backdrop caused partners’ share of profits to flatline in the 12 months to June 2025 and also pushed PwC and other professional services firms to reduce jobs.

PwC’s total staff numbers fell from 36,000 to 33,700 in the same period, although part of that decline is likely to reflect slower hiring. Even with the tougher market, the projected PwC payout would exceed the £880,000 average received by KPMG partners last year, though it would remain below the £1.05 million paid at Deloitte; EY partners received an average of £787,000 last year.

Pay is also rising at some smaller competitors. Equity partners at UK mid-tier accounting firm RSM were paid an average of £821,000 last year.

In our earlier article on IBM’s Q2 2026 earnings miss and bearish technical outlook, we noted that the stock came under pressure after revenue and EPS fell short of expectations. We also highlighted signs that enterprise clients were shifting budgets away from IBM software toward AI hardware and infrastructure, adding to near-term headwinds and keeping downside risk elevated while the share price remained below key moving averages.

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PwC UK partner pay nears record levels after cost cuts

Highlights

Partner payout outlook for 2026

Consulting slowdown and sector comparison

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