KPMG UK’s average partner pay rose 3% to £786,000 in the year to 30 September after the firm boosted revenue by 9% from £2.72bn to £2.96bn.

KPMG reported a reduced profit before tax of £364m, down 23% from £449m last year following a 17% increase in staff costs. The firm hired a total of 2,573 new people, which combined with low attrition rates, led to a 12% increase in headcount.