A troublesome-to-get-into Big Four firm is totally altering its hiring course of — by making it harder for latest graduates to land entry-level positions.
PricewaterhouseCoopers (PwC), one of many Big Four accounting and auditing corporations providing providers in tax, audit, and consulting, advised Business Insider on Thursday that it was “reducing” its campus hiring targets.
BI noticed an inside slideshow stating that the agency needed to chop entry-level hiring by one-third within the U.S. over the following 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 keeping with the slideshow.
Associated: ‘Completely Blindsided’: Accounting Giant PwC Is Laying Off 1,500 U.S. Workers. Here’s Why.
PwC didn’t affirm 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. Based on The Times, the agency acquired 304,000 purposes in 2022 for 7,500 roles, a 2.5% acceptance charge. In the meantime, Management Consulted locations the corporate’s internship acceptance charge a little bit bit greater, at round 5%.
Touchdown a place could be profitable; the wage ranges for junior workers at PwC can prolong into the six figures. Based on Glassdoor, which included knowledge factors from 4,300 salaries, pay ranges from $81,000 to $120,000 per 12 months for PwC associates primarily based within the U.S. The median whole compensation was $98,000, together with $93,000 in base pay and a $5,000 bonus.
Associated: Meet the Leaders of the Big 4, Who Jointly Employ 1.5 Million Staff
PwC is utilizing AI to take over features normally carried out by junior workers, like gathering knowledge and processing it. The corporate’s AI Assurance Chief, Jennifer Kosar, advised Business Insider earlier this month that, within the subsequent three years, new hires at PwC will tackle duties presently attributed to managers.
“Individuals are going to stroll within the door, virtually instantaneously turning into reviewers and supervisors,” Kosar advised the outlet.
PwC laid off 1,500 U.S. workers, or about 2% of its 75,000-person U.S. workforce, earlier this 12 months as a result of low attrition or turnover. The opposite Huge 4 accounting corporations, together with EY, KPMG, and Deloitte, additionally laid off workers throughout the previous 12 months.
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A troublesome-to-get-into Big Four firm is totally altering its hiring course of — by making it harder for latest graduates to land entry-level positions.
PricewaterhouseCoopers (PwC), one of many Big Four accounting and auditing corporations providing providers in tax, audit, and consulting, advised Business Insider on Thursday that it was “reducing” its campus hiring targets.
BI noticed an inside slideshow stating that the agency needed to chop entry-level hiring by one-third within the U.S. over the following 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 keeping with the slideshow.
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