A troublesome-to-get-into Large 4 agency is totally altering its hiring course of — by making it harder for current graduates to land entry-level positions.
PricewaterhouseCoopers (PwC), one of many Large 4 accounting and auditing corporations providing companies in tax, audit, and consulting, advised Enterprise Insider on Thursday that it was “reducing” its campus hiring targets.
BI noticed an inner slideshow stating that the agency needed to chop entry-level hiring by one-third within the U.S. over the subsequent three years. PwC’s hiring targets for junior-level associates dropped from 3,242 workers within the fiscal 12 months ending in June to a projected 2,197 associates within the 2028 fiscal 12 months, a 32% lower throughout three years, in accordance with the slideshow.
Associated: ‘Utterly Blindsided’: Accounting Big PwC Is Laying Off 1,500 U.S. Employees. Here is Why.
PwC didn’t verify the numbers, however advised BI that “technological change” and low attrition charges contributed to decreased campus-level hiring.
It is notoriously troublesome to land a place at PwC. In keeping with The Instances, the agency obtained 304,000 purposes in 2022 for 7,500 roles, a 2.5% acceptance fee. In the meantime, Administration Consulted locations the corporate’s internship acceptance fee just a little bit larger, at round 5%.
Touchdown a place may be profitable; the wage ranges for junior workers at PwC can lengthen into the six figures. In keeping with Glassdoor, which included information factors from 4,300 salaries, pay ranges from $81,000 to $120,000 per 12 months for PwC associates based mostly within the U.S. The median complete compensation was $98,000, together with $93,000 in base pay and a $5,000 bonus.
Associated: Meet the Leaders of the Large 4, Who Collectively Make use of 1.5 Million Employees
PwC is utilizing AI to take over capabilities normally carried out by junior workers, like gathering information and processing it. The corporate’s AI Assurance Chief, Jennifer Kosar, advised Enterprise Insider earlier this month that, within the subsequent three years, new hires at PwC will tackle duties at the moment attributed to managers.
“Persons are going to stroll within the door, virtually instantaneously changing into reviewers and supervisors,” Kosar advised the outlet.
PwC laid off 1,500 U.S. employees, or about 2% of its 75,000-person U.S. workforce, earlier this 12 months on account of low attrition or turnover. The opposite Large 4 accounting corporations, together with EY, KPMG, and Deloitte, additionally laid off workers inside the previous 12 months.
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A troublesome-to-get-into Large 4 agency is totally altering its hiring course of — by making it harder for current graduates to land entry-level positions.
PricewaterhouseCoopers (PwC), one of many Large 4 accounting and auditing corporations providing companies in tax, audit, and consulting, advised Enterprise Insider on Thursday that it was “reducing” its campus hiring targets.
BI noticed an inner slideshow stating that the agency needed to chop entry-level hiring by one-third within the U.S. over the subsequent three years. PwC’s hiring targets for junior-level associates dropped from 3,242 workers within the fiscal 12 months ending in June to a projected 2,197 associates within the 2028 fiscal 12 months, a 32% lower throughout three years, in accordance with the slideshow.
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