Deloitte Australia is putting it all out there and revealing exactly how much its people make. Australian Financial Review reports:
Deloitte Australia chief executive Adam Powick has revealed the minimum pay rates for the firm’s audit and consulting divisions as part of a strategy to be more transparent with staff and attract more skilled professionals.
In consulting, the minimum pay rates for Deloitte will start at $67,000 (US$46.3k) for graduates in 2023, $75,000 for a consultant, $125,000 for a manager, $190,000 for a director and $220,000 for a principal.
Directors and principals are also in line to earn “contractual bonuses” typically worth between 10 and 20 per cent of their annual pay. Principals are senior staff members who are specialists in their area.
“We believe that openness and transparency are key to building the trust of our people and also of our profession externally,” said Powick.
PwC and KPMG have also provided salary data while EY has chosen not to though they did provide some limited salary data internally. That salary data then ended up in AFR’s hands anyway which resulted in a former EY partner saying the rates were “disturbingly low.” Overly critical ex-partners aside, recruiters told AFR they believed EY’s rates were competitive and generally above market.
Here’s the full table of Deloitte Australia salaries put together by AFR:
Source: Financial Review
Powick told AFR that this kind of transparency “helps drive more equitable outcomes and is an important factor in addressing challenges like gender pay equity.” Deloitte’s overall gender pay gap was 12.6% at the end of last year. The gap differed by division, with a 2.2% gap in assurance and advisory and a 15.9% gap in consulting.
Deloitte reveals minimum pay rates (managers start at $125,000) [Australian Financial Review]