EY partners in the UK received a record £870,000 in average pay last year, defying a third consecutive year of declining consulting revenues. Average partner pay rose £83,000 (11 per cent) as the firm cut 30 partners and reduced promotions to protect top-rank compensation. Fee income grew 2.1 per cent to £3.86bn, while profits increased 3.4 per cent to £702mn.
Consulting revenues fell 3 per cent, though AI and data projects surged 46 per cent. EY reduced equity partners to 774, the lowest in five years, below Deloitte (£1.13mn) and PwC (£935,000).
Source: Financial Times Companies · Summarized by HeadlinesBriefing