Partners at the four big accountancy groups in the Netherlands have increased their income over the past year, ending years of decreasing payouts since the start of the economic crisis, the Financieele Dagblad reports.
At PwC, for example, partners had an income averaging almost €640,000 in the financial year to June 30, 2014. In the 2011-12 financial year, partner income at PWC had fallen to an average €468,000, the paper says.
Partner income is based on profit and at PwC comes on top of a ‘sort of basic salary’ agreed between individual partners.
At KPMG, partner income rose over €20,000 to an average €395,000 in the 2013-14 financial year, despite all the problems facing the company, the FD says. The paper’s calculations differ from those used by KPMG in its annual report.
The higher income is largely due to cost savings and a reduction in the number of partners at KPMG, PwC, EY and Deloitte, the paper says. Revenues are still variable and do not show a clear trend.
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