Half of its more than 20,000 employees in the UK would get an increase of at least 9%, while 70% would get an increase of 7% or more.
When taking into account rising prices, wages are not keeping up for many people, with pay falling at the fastest rate in more than a decade.
PwC said that starting salaries in audit roles would increase by 10% and consulting graduates would rise by just over 8%, as well as increase in salaries for many of its entry-level programmes.
He said that pay will be an increasingly important consideration given rising living costs and that we want to stay competitive and continue to attract the best talent and skills from across the UK.
The company said it was investing more than 120 m in pay rises, as well as allocating a further 138 m to bonuses this year - up 10 m on the previous year.
The Rail, Maritime and Transport RMT union, which was at the centre of last week's rail strikes, is looking for a pay rise of at least 7%.
He told the BBC big salary increases to meet the rising cost of living could end up with a 1970-style inflation spiral in which companies hike wages and then pass the cost on to customers through higher prices.