September 17, 2019

It’s Good Being a Deloitte U.K. Equity Partner These Days

The big news out of the Queen’s Big 4 yesterday wasn’t that Deloitte U.K.’s 2019 revenue (which also includes income from Switzerland) increased 10.9% from £3.58 billion in 2018 to £3.97 billion.

Nope. The big news (or good news if you’re an equity partner at Deloitte) was:

Hundreds of partners at the UK arm of accountancy firm Deloitte are in line for their biggest payday in a decade … .

The average payout for the 699 equity partners at the firm this year is £882,000. The cash sum covers the year to 31 May and is £50,000 more than they were paid the previous year. Some of the partners will be paid less than the average, but many will be handed more than £1m.

Deloitte has 19,000 staff and 1,070 are partners. However, some 300 of the partners are “salaried” and do not take part in the profit distribution. One in five of the partners are female.

Unless PwC partners in the U.K. hit the jackpot this year, Deloitte will once again have the most partners with the fullest pockets.

Here were the top five U.K. firms in terms of average distributable profit per partner for the 2017-18 financial year:

  1. Deloitte: £832,000
  2. PwC: £712,000
  3. EY: £693,000
  4. KPMG: £601,000
  5. BDO: £531,000

And then there was Grant Thornton, where average profit per partner fell 8% from £403,000 to £373,000 last year. But hey, its current CEO hasn’t had to face a partner revolt this year, so at least that’s something.

Deloitte UK partners in line for biggest payday in 10 years [The Guardian]

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