Partners at PwC are set to earn more than £1m each for the first time ever this year, after an “exceptional” trading period boosted the accountancy firm’s profits.
The accounting firm has told partners that their £920,000 profit-per-partner pay packages will be bolstered by £100,000 windfalls from the sale of PwC’s global mobility services business, Sky News reported.
The windfall payments mean PwC are set to see their pay packages hit seven figure sums for the first time ever.
The record payout for partners comes as an “exceptional” trading period on the back strong demand for PwC’s consulting services boosted the firm’s profit-per-partner packages by 15 per cent.
However, partners were told to expect profit-per-partner payouts to slip back to the £900,000 mark this year due to increased investment in the firm.
The news comes after PwC last month gave record nine per cent pay rises to 11,000 of its rank-and-file staff at a cost of £120m.
The record partner payouts are set to be officially announced when PwC publishes its official audited results this autumn.
PwC has been approached for comment.