Remuneration report

Across KPMG N.V., we have a clear, consistent approach to remuneration. Professionals are entitled to both a fixed salary and performance-related or variable, pay. In determining variable pay, we consider several criteria. The most important is quality. As a matter of policy, we won’t reward employees who underperform on quality. On the other hand, employees are rewarded if they go beyond the original scope of their roles and/or if they have a positive impact on their team and the company as a whole.

For all professionals, performance is assessed against pre-agreed annual goals – these goals are linked to KPMG’s culture, business plan, values and global behaviors. Performance is graded; these grades then determine both the growth path for individuals and subsequently their remuneration. As a company, we regularly benchmark our remuneration to ensure we remain competitive. In July 2022, we implemented an intermediate salary increase for staff, in addition to the regular annual pay review, to share our recent financial success with employees.

For engagement leaders – i.e., those leading audits or advisory projects with clients – the performance review process is based partly on standardized quality and risk metrics (including the results of external reviews and internal monitoring programs, ‘leading by example’, and timely completion of training).


Our equity partners have a different remuneration structure. Each year, they receive a share of profits, also adjusted for performance (starting with audit quality). In 2021/2022, partners received an average profit-share of EUR 752,000, an increase of 2% compared with the previous year (EUR 735,000). Pay for partners is determined by two factors: the company’s profit for the year and personal performance. Management monitors closely any partners scoring 4 or 5 (the two lowest grades). Where necessary, individual improvement plans are put in place. The process is overseen by the Supervisory Board. Certain partners – in both Assurance and Advisory – are subject to clawbacks; this allows the firm to recover part of their annual management fees in the case of “demonstrably culpable conduct”. A deferred profit-sharing scheme is also in place for assurance partners (in line with measure 3.5, published by the Royal Netherlands Institute for Chartered Accountants).

Board of Management

Members of the Board of Management receive fixed compensation. They are not eligible for variable pay or fixed salary increases. Equity partners serving as members of the Board of Management are also excluded from profit sharing. Instead, remuneration for Board of Management members is based on past levels of partner pay, market trends and professional responsibility. In 2021/2022, we introduced a new rolling mechanism in the remuneration policy of the Board of Management to make our approach more sustainable and better focused on long-term value creation[1]. When evaluating the performance of members of the Board of Management, the Supervisory Board takes into account personal performance, as well as members’ approach to quality, public interest, client satisfaction, people management and sustainable business growth. Please refer to our Financial Statements for details of the Board of Management’s annual remuneration (new window).

Supervisory Board

Members of the Supervisory Board receive fixed annual fees. In 2021/2022, the Chair received EUR 69,000, all other members between EUR 55,000-57,500.

  • 1This renewed policy has been approved by the Board of Coöperatie KPMG U.A.