BDOnline’s recent report Foster & Partners sees profits soars reveals that the firm has “posted a major rise in profits for the year ended April 30, 2011, with pre-tax profits of £10.9 million, up from £1.6 million.” Most of the firms work is said to come from Asia and China, as turnover at the practice is up to £159 million from £134 million.
“In its annual accounts posted at Companies House, Foster’s said 26% of its order book was for work in the Far East, compared to 16% in the Middle East. North America accounts for 24% of the work, while only 8% is in the UK with a turnover of £11.5 million.” The chief’s executive statement also reported that the firm is “exploring opportunities in South Africa, Japan and further projects in Australia.”
Salaries of Foster & Partners totaled £4.7 million, with the highest paid director, believed to be Foster, receiving £1.8 million. The average staff salary was reported to be close to £50,000.
Reference: BDOnline
Excluding Foster, the average salary….based on those numbers is actually only £31,000, if you exclude the partners, you are probably looking at somewhere around 15k – 25k. Kind of depressing.
According to your maths you’ll work out that Foster + Partners only employ 94 people. Now that’s not right is it….
The figures show that the 4.7M is shared between the 6 design board directors – and the total wage bill (not stated) accounts for an average of 50k.
That also means that Foster makes about 58 times more money than the average employee, including partners.
Just like everything else… The 1% at the top gets richer, everyone else gets screwed.
Didn’t he sack a heap of staff recently?
@ all those discrediting Foster’s assumed salary…
He deserves every penny that he earns from the practice – he built it from nothing! He deserves 58 times more money than the average employee; none of them would even be in their current jobs if it weren’t for him.
Just because they are employed by him, you are surely not suggesting they contribute the same value to the practice!?
‘The 1% at the top gets richer…’; Norman Foster did not start out at the top, he was very much at the bottom coming from a very humble background, so that’s hardly true. He’s gone from the bottom to the top with working very hard.
Maybe if some of the moaners stopped moaning and were a bit more proactive they might be able to get to ‘the top’ too.
I don’t understand why so many architects / architecture graduates believe they are simply entitled to the salaries they desire from someone else. £15-£25k is not depressing, there are people who work just as hard as you for much less. If you don’t have the skills and drive to start your own practice like Norman Foster did, then unfortunately you are at the mercy of the market.
I like the helpful information you supply for your articles. I will bookmark your blog and check once more here frequently. I’m moderately certain I’ll be informed many new stuff proper here! Good luck for the next!