Big 4 accountancy firm UK partner promotions have hit five-year low, according to the Financial Times.
Slowing demand for consultancy services and a crunch on profits are being blamed.
The FT said for 2025 both Deloitte and PwC have promoted the lowest number of partners in some five years. Meanwhile, EY have appointed less than half the number of partners it did in 2022. Only KPMG bucked the trend following a promotional pause for a few years.
Data collected by the newspaper shows between them the Big 4 have created just 179 new partners this year.
There is also a change happening behind the figures, as some of the Big 4 creating more salaried partners, rather than opting for the more expensive equity partner.
