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PwC Australia just reported average partner income of $814,000

PwC Australia just reported average partner income of $814,000. Up 6% on last year. Despite profits falling 2%. How? Fewer people. More AI. 35% fewer partners...

PwC Australia just reported average partner income of $814,000.

Up 6% on last year. Despite profits falling 2%.

How? Fewer people. More AI.

35% fewer partners than two years ago. 40% fewer staff. And productivity up between 10 and 20%.

Their CEO put it plainly: "Fewer people doing the same amount, or fewer people doing more."

This isn't a tech startup. This is one of the most traditional professional services firms in the country — still running the same client work, same deliverables, same engagements.

Just with significantly less headcount and significantly better margins.

The part that doesn't get said enough: AI isn't cheap. PwC is putting every partner and managing director through an eight-week Kellogg AI course.

They're building AI agents.

They're selling AI-powered advisory products through AWS.

They're investing heavily — and the returns are already showing up in the numbers.

Here's the question every mid-market business owner should be sitting with right now:

if the big end of town is already running leaner, more productive teams using AI — what does that mean for how you compete?

The gap between the businesses moving on this and those waiting is no longer theoretical.

It's showing up in margins.

Source: AFR, 16 April 2026

https://lnkd.in/gBaV692g