KPMG increases bonus pool to £73 million

KPMG has increased its employee bonus pool by 20%, from £61 million to £73 million in 2013.

The professional services firm’s annual report for 2013 also showed that average partner pay has increased by 23%, from £580,000 to £713,000.

Pay for the organisation’s chairman and senior partner, as recommended by the remuneration committee and approved by partners, was £2.42 million.

KPMG in the UK has 583 partners and employs around 10,800 staff.

It generated £1.814 million in revenue and £455 million of profit.

Simon Collins, UK chairman of KPMG, said: “Improved profitability means that, not only have we been able to increase our employee bonus pool, but we have also reserved part of this year’s profit for investment in improving the quality and increasing the breadth of our services, with plans to invest £450 million in the UK over the next three years. 

“I also firmly believe that a good business is a profitable business. Accordingly, we have seen the introduction of the living wage have a positive effect on our firm and supply chain.”