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Profits surge to see PwC create more than 1500 jobs

Published: Wednesday, 16 September 2015   Category: All Graduate Jobs News

Accountancy giants PwC will create 1,500 jobs in the next year after reporting a 10% rise in revenues at its UK arm.

The firm – formerly referred to as PricewaterhouseCoopers – revealed that UK revenue increase to £3.1 billion for the year ending 30 June.

It means a rise in profits of £818 million – up 6% on last year – while each of its 885 partners now averages £740,000 each, up by £18,000 from 12 months previously.

The firm said profit growth lagged behind that of revenue due to a continued investment in “people, training and skills, infrastructure and technology”.

Hiring levels set to remain high

A total of 1,645 net new hires from 4,100 people taken on was noted during the past year and the firm is now expected to recruit on a similar level in the next 12 months.

The firm abandoned the use of Ucas points as part of its application process earlier this year and is already regarded as one of Britain’s largest graduate recruiters.

The Group said in May that the move would enable them to recruit “as broad a range” of talented people as possible while being able to “drive radical changes in the social mobility and diversity of the professional services’ industry”.

Following “good growth” across all four of its divisions, PwC will continue to invest and target future expansion, including with widespread recruitment.

Growth across the firm

Assurance brought in £1.1 billion in revenues – up 9% – while the tax arm of the firm generated £763m – a rise of 7%.

Deals were up 6% to £628m although the consulting arm of the firm set the pace in terms of growth – noting a rise of 16% to £571m.

Ian Powell, Chairman and Senior Partner at PwC suggested that the firm made an overall contribution to the UK economy of £4.22 billion in the last year.

He also said the firm also focused on several other economic and environmental factors which included many other benefits for the UK.

The outlook for the UK is also a positive one according to Mr Powell, a factor also likely to boost job creation.

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