Grant Thornton Raises London Graduate Salary to £40,000

Grant Thornton challenges Big Four with 40,000 pound London graduate starting salary

Grant Thornton has overhauled its early careers scheme, raising starting pay for London graduates to 40,000 pounds and introducing milestone bonuses as part of an ambitious push for expansion.

The private equity backed accountancy firm will offer the new remuneration structure to London juniors from 2027, ramping up competition against the City's traditional giants for top entry level talent.

By comparison, starting graduate salaries in London among the Big Four currently lag behind. KPMG typically starts London graduates at around 34,500 pounds, while EY offers between 30,000 pounds and 36,000 pounds. PwC and Deloitte pay between 30,000 pounds and 35,000 pounds for their respective London graduate schemes.

Grant Thornton will also begin advertising trainee compensation across all job postings, introducing fixed milestone bonuses into junior pay structures. Regional graduates will receive proportionate pay increases, and starting rates for school leavers will remain competitive.

Set to launch in September 2027, the revamped early careers scheme focuses on creating a structured, mapped out pathway from trainee to partner, shifting away from a simple focus on completing professional qualifications. Juniors will be assigned a named partner sponsor from their first day and receive broader client exposure, including opportunities for international secondments.

The scheme is divided into two distinct stages. The ascent phase supports trainees as they complete fully funded professional qualifications. The summit phase offers structured post qualification mentoring aimed at guiding accountants toward partnership.

Abigail Fisher, chief people officer at Grant Thornton UK, noted that the firm is making a substantial investment in its people proposition, from recruiting future leadership to developing existing staff. She explained that the firm wants every employee to see a genuine path to partnership, supported by direct investment that includes business development training at all levels.

Grant Thornton approved a 1.5 billion pound investment from private equity firm Cinven in 2024. The firm expanded its partnership to 282 partners in the first half of the year, a rise of 9 percent, appointing 41 new equity partners over the past twelve months. Grant Thornton intends to appoint 160 new partners by the end of 2027.

The Big Four have long dominated graduate recruitment in the UK financial services sector. However, traditional recruitment and training frameworks are facing widespread adjustment across the industry as the adoption of artificial intelligence and shifting commercial requirements reshape early career pathways.

Source: City A.M.