Auditing and Consulting firm PwC’s UK partners received a record bonus this year after posting profit to a fresh high of almost 1.2 billion euros on the boom in corporate dealmaking. The firm handed 128 million euros in bonuses to staff last year.
PwC UK said on Thursday that its staff bonus point for the FY ended June 2021 increased from 83 million euros in 2020 and surpassed 2019’s total.
PwC UK employs nearly 22000 people and has recruited 3300 new people over the last year.
Along with the healthy bonuses to employees, PwC’s people-related investments last year included a 24*7 virtual GP service, health centers in its offices, digital skills training, and support to staff for cutting their carbon footprint.
In March, PwC asked its employees to spend around half of their working time at home and finish work early on Fridays in the summer.
The increased profit of 25 percent at 1.2 billion euros due to solid demand in audit, deals, and transformation services as client activity rebounded has resulted in the jump of bonuses of PwC UK partners.
Kevin Ellis, chairman and senior partner, PwC UK, said, “After challenging first six months, the firm is well-placed to meet demand and create investment capacity as confidence in the market is boosted.”
He further added, “Like our clients, we view the pandemic recovery as a catalyst of profound change, driving increased demand for deals, financing, digitization, ESG, and supply chain transformation services.”
PwC UK’s growth in the second half of the year was driven by demand for transformation advice, including finance transformation and digital and data strategies as clients adopt the cloud.
The growth was also accompanied by increased demand for services such as decarbonization plans and designing and delivering hybrid working strategies.
Moreover, the company said it is looking ahead while uncertainty is still there; it sees positive signs as its trading pipeline strengthens.