Aggregated revenues of PwC by industry sector 2018

PricewaterhouseCoopers (PwC) generated 10.73 billion U.S. dollars from the financial services industry in 2018, around four billion U.S. dollars more than the next ranked industry sector. Income from the financial services industry accounted for around 25 percent of the firm’s aggregated gross revenue worldwide in 2018.

What drives demand from financial services?

Financial institutions such as banks and insurance companies face frequent changes in their line of work and, consequently, accounting firms can be confident that revenue from this industry generates a significant share of their annual revenue. KPMG – another of the Big Four accounting firms – received around 30 percent of its annual worldwide revenue from the financial services industry in 2019. One obstacle that many financial institutions are having to overcome is how to cope with changes in technology; many companies are seeking professional advice on how to decrease cybersecurity risks or improve the mobile banking experience for their customers.

An overview of PwC

PwC is an accounting firm – also known as an audit firm or professional services network – with members located around the world. Formed in 1998 as the result of a merger between Price Waterhouse, and Coopers and Lybrand, the firm can trace its roots back to London during the 19th century. PwC is one of the Big Four accounting firms and provides auditing services for many of the world’s most valuable publicly traded companies. In 2019, the firm reported global gross revenue of more than 42 billion U.S. dollars and employed around 276,000 people worldwide.