Grant Thornton takes on Big Four giants with new £40K salary for London grads
Grant Thornton has raised its London graduate starting salary to £40,000 and introduced “milestone bonuses” into the pay structure as part of the firm’s ambition for significant growth.
The private equity-backed firm has overhauled its early careers programme, first reported by City AM in April, and will offer ‘market-leading’ starting salaries to London juniors of £40,000 from 2027, as it steps up its efforts to compete for the City’s professional services talent.
Its competitors, KPMG, typically start London graduates around £34,500, EY grads start between £30,000 and £36,000, and PwC and Deloitte sit between £30,000 and £35,000 for their London graduate schemes. Mid-tier firms, such as BDO and Mazars, pay 10 per cent to 20 per cent less than the Big Four.
The firm also announced it will advertise all trainee salaries in its job postings for the first time, alongside new “milestone bonuses” built into the junior pay structure. Proportionate pay increases will also be rolled out for regional graduates, and school leaver salaries will continue to remain ‘market leading’.
Launching in September 2027, the firm’s new scheme is designed to offer a direct, mapped-out pathway from trainee to partner, rather than training for qualifications. The juniors will be assigned a named partner sponsor from day one and given enhanced client exposure, including international secondments.
Rise of AI continues to shape grad job market
The programme is split into two phases: ‘ascent’, which supports juniors through their fully-funded professional qualifications, and ‘summit’, which provides post-qualification mentoring to guide them toward partnership.
Abigail Fisher, chief people officer, Grant Thornton UK, said: “We are making a significant investment in our people proposition, from how we recruit our future partners to how we develop the talent already here.”
“We want everyone to see a genuine path to partnership, backed by real investment in getting them there, including business development training at every level of the firm,” she added.
The firm voted in favour of a £1.5 bn investment from private equity firm Cinven in 2024.
The partnership reached 282 partners in the first half of the year, up 9 per cent, with 41 new equity partners appointed over the last year, as the firm aims to appoint 160 new partners by the end of 2027.
The Big Four giants – KPMG, Deloitte, EY, and PwC – have for decades played an important role in shaping the next generation of City workers, being among the largest graduate recruiters in the UK. However, recruitment and training models are undergoing significant change due to the rise of AI and the dynamics of a changing market.