KPMG partner remuneration decreases by 13%

KPMG

Average remuneration for partners at professional services firm KPMG fell by 13% from £715,000 in 2014 to £623,000 in 2015, according to its UK annual report 2015.

KPMG UK currently employs 617 partners and 11,652 members of staff, an increase of almost 3% compared to 2014.

Its chairman’s pay for the year, recommended by the remuneration committee and approved by a partners vote, was £2.2 million. This compares to £2.5 million in 2014.

Based on salary, the overall gender pay gap at KPMG was 21% in 2015 and its average gender pay gap across grades was just under 6%.

Simon Collins, UK chairman of KPMG, said: “As an employer of almost 12,000 people, we take our role seriously and have worked hard to give our staff opportunities to work on interesting and challenging client work and put together a market-leading benefits scheme to reward their efforts. Reward and opportunity also extend to diversity and inclusion.

“I feel passionately about creating a working culture which includes a diverse group of people. We set ambitious diversity targets in 2014 and, while we have made improvements in some sections of our working population, I remain disappointed by the pace of change in some areas.

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“For example, approximately a third of our internal partner promotions were female but our external hires reduced the increase in our overall female representation at our most senior levels. Having more male employees in senior roles than female employees has also affected our gender pay gap figures, which showed a 5.8% average difference across the grades and 21.4% overall.

“We will continue to support work such as that led by the Davies Commission and ensure we are applying best practice comprehensively in our hiring and promoting process.”