All about the money? | Why PwC's 9% pay rise isn't the only way to ease staff money worries

PwC staff are being given a bumper pay rise as the firm strives to help them offset the ongoing cost-of-living crisis, as has been reported on by numerous media outlets.

The major accountancy firm said half of its more than 20,000 employees in the UK will get an increase of at least nine per cent, while 70% will get a rise of seven per cent or more.

The move sees PwC join a long list of firms reviewing their financial support for employees, amid a perfect storm of factors contributing to growing financial stress for UK workers, from rocketing bills, increases in national insurance and rising costs of everyday necessities. UK inflation also hit a 40-year high of 9.1% in May.

Overall, PwC said it was investing around £120million in pay rises, and a further £138million in bonuses this year.