Revealed: KPMG publishes salary levels to lure staff

The major professional services firm said the disclosure was part of its commitments to reducing the gender pay gap and woo staff | FULL LIST

KPMG CEO Andrew Yates and chief purpose officer Richard Boele. Picture: Jane Dempster

KPMG has for the first time revealed the lowest level of employee pay in each tier as it moves to close the gender gap and attract staff in a tightening professional services market.

In an email to staff today, KPMG national managing partner people & inclusion, Dorothy Hisgrove, said that the firm was committed to greater transparency, flexibility, being more adaptive to individuals’ needs, and to respond to market forces.

The email did not reveal what partners at KPMG earn but showed the minimum entry point for consultants ranged from $66,000 for graduates up to $200,000 for directors. Tax graduates had a minimum entry point of $67,000 up to $190,000 for directors.

“This announcement is part of KPMG Australia’s significant investment in enhancing the employment experience for our people, and ongoing commitments to reducing the gender pay gap,” Ms Hisgrove wrote.

“This year’s review has seen us make significant inroads to improving the fair, competitive and equitable experience we seek to create across the firm.

“It’s important to remember while getting our rem bands right is incredibly important – salaries are just one component of the overall reward framework at KPMG.”

The salary brackets in the email do not include performance bonuses, which can be significant in professional services firms, nor did it show the highest among staff could earn in each level.

The move by KPMG follows a similar decision by PwC Australia and Accenture, which have also moved to become more transparent. EY has not made a similar move.

In April, PwC released the starting point and maximum salary scales, which include superannuation, for its five job levels – associate, senior associate, manager, senior manager and director – in its various businesses.

Employees can enter the firm at above the starting points depending on their previous experience. Salaries ranged from $55,600 for a non-client facing associate role to a maximum of $362,588 for a director in the consulting business. The starting point at partnership level was $340,000 and with income reviewed annually to a top end target range of $3,675,000.

Consistent surveys have shown that when asked to name salary expectations, women are more likely to ask for a lower figure if no minimum is given, than men with similar experience.