KPMG boss becomes highest paid British accountant
KPMG boss Mike Rake has been revealed as the highest paid British accountant in practice, after company results released today showed his pay packet has inflated 45% to more than £2.4m.
Link: Poynter is UK’s best paid accountant
Rake’s pay as UK senior partner was £1.8m, an increase of nearly 20% on last year. For chairing KPMG International, Rake received an additional £602,000.
The news comes as KPMG announced profits up by 10% but revenues down £10m to £1,008m.
Rake described it as a ‘flat’ year, and the company failed to make inroads on its nearest competitor, Deloitte.
KPMG remained the third biggest accounting firm in the Accountancy Age top 50, but Rake’s pay packet now outstrips that of number one firm PricewaterhouseCoopers’ boss Kieran Poynter.
He got just over £1.485m last year, while fourth-placed Ernst & Young’s Nick Land was paid less than £1.3m. No comparison is available for John Connolly, who heads number-two accountancy firm and KPMG’s closest rival Deloitte.