Austria: KPMG hands €3,000 pay rise to all employees

From 1 July 2022, all employees of the Austrian business of audit and consulting giant KPMG will see their annual base salaries increase by €3,000. This one-off pay rise – the figure for which is based on full-time employment – will be on top of the regular annual remuneration and bonus process, according to the company’s headquarters in Vienna. According to KPMG Austria, the pay rise is a “sign of recognition” on the one hand and a “significant measure” on the other hand to compensate for the effects of rising prices, especially for employees on lower incomes. “With this salary increase, we are recognising the commitment and performance of all our employees,” says KPMG senior partner Michael Schlenk. Peter Ertl, a partner at the company, adds: “We firmly believe that only together can we meet the challenges of this unstable geopolitical and economic environment. This requires strong cohesion and an excellent working environment for all colleagues”. With this exceptional pay increase, KPMG Austria is also seeking to “attract and retain the best employees” and to enhance its image as an “attractive employer” in the Austrian market. In the most recent Universum ranking of the most attractive employers for business students in Germany in 2022, KPMG ranked 18th, behind McKinsey (8th) and PwC (10th), and ahead of Boston Consulting Group (19th).