Sadly, Deloitte partners are probably going to have to put off buying that new McLaren 720S or Mercedes-Benz S-Class until next year.
The Times reported today:
Partners at Deloitte are in line for a 17 per cent pay cut after revenue growth slowed during the Covid-19 pandemic.
The 709 equity partners of Deloitte’s British arm will receive an average payment of £731,000 for the year to the end of May 2020, down from a record £882,000 in the previous financial year.
Equity partners take a share of profits instead of a salary. The firm’s distributable profit was £518 million, down 16 per cent on the £617 million previously.
The fall in profits came as the firm reported a 9.1 per cent increase in revenue to £4.3 billion.