EY partners face second year of pay cuts
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EY partners have been told to expect a second consecutive year of pay cuts, while many senior staff will not receive a salary increase this year.
This trend reflects the ongoing challenges faced by professional services firms amid a downturn in demand. Consulting staff have been particularly affected, but those in the tax division received a 2% rise and financial services staff saw a 5% increase.
In 2023, EY partner pay was around £761,000, down from £803,000 in 2022. The big four firm has not yet finalised partner pay, and will reveal to partners their average compensation next month.
An EY spokesperson told The Times said: “Pay rises and bonuses vary based on individual and business unit performance.”
This will be the final pay review conducted by outgoing managing partner Hywel Ball, with a new leader expected to be announced soon.
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