Deloitte reveals $61,000 starting wage for graduates in tightening labour market

Many of the 1355 graduates who joined Deloitte this year will see wages starting at $61,000, a figure the professional services firm has revealed after opening up its pay black box.

Deloitte, one of Australia’s largest professional services firm, has revealed the starting wages of staff across the business.

Many of the 1355 graduates who joined Deloitte this year will see wages starting at $61,000, a figure the professional services firm has revealed after opening up its pay black box.

The move by Deloitte comes as the professional services industry jockeys to secure workers and after other firms have unveiled their pay data.

The wage data shows Deloitte’s graduate auditing staff can expect to take home $61,000 before tax this year, with next year’s intake looking forward to $63,000.

Principals who are experts in certain fields and industries can expect starting wages of $220,000 or more.

Deloitte’s consulting graduate intake this year can expect $65,000, with next year’s enjoying a bump to $67,000. This compares to KPMG, which paid its graduate consultants $66,000 this year, while KPMG audit graduates earn $64,000.

KPMG for the first time revealed employee pay levels last week in a move to close the gender gap and attract staff in a tightening professional services market.

PwC also released its wage figures in April, showing starting salaries at the firm of $59,800 for associates in its assurance arm, rising to $61,300 in consulting.

Deloitte’s figures only cover the lowest entry level pay for client-facing roles in the firm, across its Sydney, Melbourne, Canberra, Perth and Brisbane offices.

The publication of its wage data comes after the firm wrapped up end of year discussions with coaches about pay bands and where they sit relative to peers.

Wage bands rise quickly at Deloitte, with analysts in its auditing division expected to command $65,000, while consultants can expect to start on $75,000.

Experienced analysts will receive $70,000 starting, while those more senior can command $81,000.

Incomes rapidly rise across Deloitte’s higher level roles. Senior consultants can expect $100,000, rising to $125,000 for managers and $150,0000 for associate directors in the consulting business.

The figure is somewhat lower in Deloitte’s auditing business, where managers can expect $108,000, rising to $130,000 for associate directors.

Directors in the auditing business can expect $150,00 starting pay, on par with associate directors in the consulting business.

Directors in the consulting business will see $190,000 starting, while principals can expect $220,000 or more.

Consulting director and principal level roles have contractual bonuses in addition to their pay, which can add as much as 10-20 per cent to their remuneration.

Deloitte Touche Tohmatsu, one of the world’s largest professional services firms, recently reported that its Australian business had $2.5bn in revenue for the last financial year.
It reported $2.3bn in revenues for the 2021 year.
The auditing and assurance business pulled in $475m last year, while the more profitable consulting business earned Deloitte’s $1.12bn.
Total headcount across the firm stood at 12,748 at the close of last year, with 944 partners.

Deloitte is targeting growth across the business in the year ahead, with 1355 new graduates joining the firm this year. This was up on the 775 graduates who joined Deloitte last year.

Deloitte is targeting a “strong continued double-digit revenue growth” and has signalled plans to focus on high priority client needs.

This report has been updated to clarify Deloitte’s 2022 financial year revenues.