In an unprecedented move amongst the professional services firms, Big Four firm PricewaterhouseCoopers (PwC) Australia, has laid bare what it is paying— from associates to partners, for all to see. The report includes the pay data of workers across all divisions and levels of the organisation for the financial year 2022/23.
The decision to publish the pay data aims to well-position the advisory firm to hire and retain talent. The move not only sheds light on how talent in the professional service sector is rewarded but also informs PwC’s staff of where they are on their career journey. Everything from what the most junior staff take home annually to the bank-breaking sums awarded to the most senior partners has been put on display in the hopes of helping the organisation achieve greater transparency.
Those high performers in the firm can expect to take home around AU$ 3.6 million (HK$ 21 million) per year whilst those joining the lowest ranks as a non-facing client associates can expect to take home AU$ 55,600 (HK$ 323,380) in their first year. Below are the salary bands (in AU$) for each level across the firm
- Associates - $55,600 – $120,000
- Senior Associates – $73,400 – $150,000
- Managers – $92,700 – $197,700
- Senior Managers – $108,800 – $270,781
- Directors - $164,300 – $362,588
- Partner $340,000 – $3,675,000
As the conversation around pay transparency begins to impact organisations’ actions, it remains to be seen in the remaining top four firms will also commit to greater levels of transparency.
Paul Arkwright
Publisher
