A troublesome-to-get-into Massive 4 agency is totally altering its hiring course of — by making it tougher for current graduates to land entry-level positions.
PricewaterhouseCoopers (PwC), one of many Massive 4 accounting and auditing companies providing companies in tax, audit, and consulting, instructed Enterprise Insider on Thursday that it was “reducing” its campus hiring targets.
BI noticed an inner slideshow stating that the agency wished to chop entry-level hiring by one-third within the U.S. over the following three years. PwC’s hiring objectives for junior-level associates dropped from 3,242 workers within the fiscal yr ending in June to a projected 2,197 associates within the 2028 fiscal yr, a 32% lower throughout three years, based on the slideshow.
Associated: ‘Utterly Blindsided’: Accounting Big PwC Is Laying Off 1,500 U.S. Staff. Here is Why.
PwC didn’t verify the numbers, however instructed BI that “technological change” and low attrition charges contributed to decreased campus-level hiring.
It is notoriously tough to land a place at PwC. In accordance 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 a bit bit increased, at round 5%.
Touchdown a place might be profitable; the wage ranges for junior workers at PwC can lengthen into the six figures. In accordance with Glassdoor, which included information factors from 4,300 salaries, pay ranges from $81,000 to $120,000 per yr for PwC associates based mostly 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 Massive 4, Who Collectively Make use of 1.5 Million Workers
PwC is utilizing AI to take over features normally carried out by junior workers, like gathering information and processing it. The corporate’s AI Assurance Chief, Jennifer Kosar, instructed Enterprise Insider earlier this month that, within the subsequent three years, new hires at PwC will tackle obligations presently attributed to managers.
“Persons are going to stroll within the door, nearly instantaneously turning into reviewers and supervisors,” Kosar instructed the outlet.
PwC laid off 1,500 U.S. staff, or about 2% of its 75,000-person U.S. workforce, earlier this yr attributable to low attrition or turnover. The opposite Massive 4 accounting companies, together with EY, KPMG, and Deloitte, additionally laid off workers throughout the previous yr.
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A troublesome-to-get-into Massive 4 agency is totally altering its hiring course of — by making it tougher for current graduates to land entry-level positions.
PricewaterhouseCoopers (PwC), one of many Massive 4 accounting and auditing companies providing companies in tax, audit, and consulting, instructed Enterprise Insider on Thursday that it was “reducing” its campus hiring targets.
BI noticed an inner slideshow stating that the agency wished to chop entry-level hiring by one-third within the U.S. over the following three years. PwC’s hiring objectives for junior-level associates dropped from 3,242 workers within the fiscal yr ending in June to a projected 2,197 associates within the 2028 fiscal yr, a 32% lower throughout three years, based on the slideshow.
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