The average UK partner pay at KPMG increased to £717,000 last year thanks to a boom in the deal making market.
The success for the professional services giant helped it offset a number of fines for audit failures and misconduct.
KPMG has reported a 16% rise in its fee income to £2.72bn for the year to September 2022
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However its profits only increased by 3% to £449m after the firm was hit by inflation and fines by UK regulators, which included a record £14.4m over the misleading of inspectors on the audits of outsourcers Carillion and Regenersis.
Its average partner pay in the UK rose from the £688,000 in the previous financial year but the total is still below its other Big Four rivals.
During their latest financial years, Deloitte and PwC paid their partners over £1m while EY handed out £803,000 on average.
According to the latest figures from KPMG, its annual wage bill grew by £132m after it handed 16,000 of its employees increases of between £2,000 and £4,000 in May last year on top of its annual autumn pay round.
Jon Holt, chief executive of KPMG in the UK, said: "We have delivered another year of strong performance thanks to the hard work and dedication of our people.
"Our three-year strategy, focussed on investing for the long-term, is delivering.
"We’re growing in a way that enables us to invest for the future, meet client demand, strengthen our multi-disciplinary services and recognise our people.
"Every area of the business contributed to our growth, showing the important role our multi-disciplinary model plays to support our clients with their most complex issues."
KPMG's consulting practice saw net sales increase by 22% to £811m while its Deal Advisory team record net sales of £443m, a rise of 24%.
The firm’s audit practice saw net sales increase by 10% to £695m, while its tax and legal division grew by 13%, with sales reaching £455m.
Mr Holt added: "Our business is resilient, and we’re well placed to help our clients navigate the next stage of the economic cycle.
"We feel confident about the future, and while we have seen a softening in the deals market from the peak of activity witnessed last year, demand for consulting, tax, legal and audit services continues unabated.
"We are investing heavily now, to ensure we have the right people and technology in place to help our clients through the challenges they may face in the coming year."
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