Deloitte

Part of the global professional services organisation Deloitte Touche Tohmatsu, Deloitte is the second-biggest accountancy firm in both the UK and the rest of the world. Its 180,000+ staff, spread across 150 countries, specialises in audit, tax, consulting and financial advisory services.

Deloitte was founded in 1845 by the eponymous William Welch Deloitte; he is considered by many to be the father of the accountancy profession, developing the profitable business of managing bankruptcies. His grandfather, Count de Loitte, had fled France at the time of the French Revolution to avoid becoming victim to the guillotine. So born in London, William Deloitte started in finance early, becoming an assistant to the Official Assignee at the Bankruptcy Court, and founding his own office by the time he was 25.

Carving its way through the UK market, with a niche in the rapidly expanding railway industry, the firm was appointed by The Great Western Railway Company as the first-ever independent auditor, in 1849. During the 1850s and 1860s, William Deloitte developed a system for keeping railway accounts that protected investors from mismanagement of funds. So successful was this practice, that it was subsequently adopted as the industry standard. Not stopping there, Deloitte also created a similar system for the hotel industry that proved just as successful. Over the years, Deloitte’s firm has gone through a number of mergers, the most recent of which was in 1989, when Deloitte Haskins & Sells merged with Touche Ross, to form Deloitte & Touche. Finally, in 2003, the firm was re-branded as Deloitte.

Deloitte’s mainstay practices are its traditional audit and tax departments, and also the more profitable corporate finance and consulting divisions. Providing specific advice to a range of sectors – from financial services, technology, media and telecommunications, to consumer business and travel and tourism – Deloitte offers a range of services to its clients:

Audit and Enterprise risk services – traditional accounting and auditing, enterprise risk management, information security and privacy, data quality/integrity, and IT control assurance.

Consulting – the firm offers assistance to clients in the areas of technology integration, strategy and operations, human capital, and short-term outsourcing.

Financial Advisory – Deloitte provides corporate finance services to clients, including dispute, personal and commercial bankruptcy, forensics, and valuation.

International Financial Reporting Standards (IFRS) – this is a 'principles based' set of standards, in that they establish broad rules as well as dictating specific treatments. Deloitte has taken this standard to all levels of business.

Tax – the firm advises clients on how to increase their net asset value, undertake the transfer pricing and international tax activities of multinational companies, minimise their tax liabilities, implement tax computer systems, and also provides advisory of tax implications of various business decisions.

In addition to these areas, Deloitte offers a range of services it calls market insights. Designed to help organisations stay ahead of the game, it provides information on trends and markets, emerging competitors, and advice on rapidly shifting technological and regulatory changes. Combining commentary on hot topics in the market, international tax and business guides, and podcasts, Deloitte is able to produce research and advice that delivers solutions to the strategic challenges facing the UK businesses.

Practice numerical tests and verbal tests used by actual employers.

With 10 applications received for each of its 14,000 vacancies, securing a spot as a graduate at Deloitte is no walk in the park. The company is so big and covers so much, that before applying you need to honestly ask yourself whether Deloitte is a good fit and whether the division you have in mind is right for you.

Whether it’s providing reliable financial information to clients, helping them pay the right amount of tax in the most efficient way, assisting them in raising, investing and spending capital, or identifying and solving business issues, the roles are varied; so have a good hard think and pick wisely according to your interest, skills and personality.

Another important step is making sure you fill Deloitte’s academic requirements before you begin your application. In GCSEs you need to have scored a B or higher in Maths and at least a C in English. Your A-Level scores, which Deloitte looks at using the UCAS point requirement, need to score either 24-26 or 300-320, depending on which position you’re applying to. And finally you need to have a 2.1 honours degree from your university. The application process itself has many steps, but is fairly straightforward.

Online Application

First you must complete a basic online application form about your history and skills. You’ll be faced with standard questions such as, ‘Why does a position at Deloitte appeal over other career options?’, ‘Why are you particularly interested in joining the service line you have specified?’, and ‘What do you think you will be doing on a day-to-day basis as a graduate in your first choice service line?’.

Online Psychometric Tests

If you’re successful you will be asked to complete two SHL online psychometric tests designed to evaluate your reasoning, both with words and numbers. Each part is 20 minutes and only if you pass the first portion of the test will they ask you to complete the second. The verbal reasoning section will test your ability to understand verbal descriptions, explanations or arguments; you need to demonstrate you can interpret meaning, grasp key points and draw conclusions. The numerical reasoning will measure your capacity for quickly analysing numerical/financial data, with computations where appropriate, whether embedded in a narrative or presented in tables. So make sure you practise! You will have one week to complete the test and the questions for each test are different. Luckily Deloitte has a re-testing policy so even if you don’t do well the first time, you may be allowed to re-sit the test before your first in-person interview.

Telephone Interview

Before you reach the face-to-face interview stage, you will need to have a telephone interview.  These are designed to test your communication skills and your level of enthusiasm for the job. The call only lasts about 10-15 minutes, but beforehand be sure that you have prepared why you want to work at Deloitte and have reviewed your academic and work history.

Competency Interview

The competency interview is next and takes place in the office you’ve applied to. Your interview will be with a manager from the line of service to which you applied, and will last up to an hour. All interviewers at Deloitte have been trained by an in-house team on how to interview graduates, and all interviews are standardised; the interviewer will read out prepared questions and record your responses. During this one-to-one interview, you will be asked to draw on your personal, professional and educational experiences to highlight exactly how you have demonstrated the required competencies. This will include standard questions like: “What is the hardest decision you’ve ever had to make?” As well as company-specific questions such as: “If you were the head of Deloitte, what would be your priority for the company?” You will also be asked about business issues in the news, about any professional qualifications that may be relevant, as well as what you think the job would entail. It goes without saying: brush up on what’s in the news and review your personal history again. Once completed, the interviewer will grade you and return these details to the graduate recruitment team for processing. You should receive feedback on your interview within three days.

Assessment Day

Finally comes the assessment day, which has been described as “gruelling but satisfying”. It lasts about five hours and includes a partner interview, an e-tray exercise, an additional email-based exercise and a more relaxed meeting with a current graduate trainee.

The 60 minute ‘e-tray’ exercise is an inbox exercise which involves prioritising emails and choosing the most effective course of action, before writing an e-communication/business email based upon the scenario developed over the previous hour.

You will also be required to analyse a business case (for example: potential takeover targets) and, based on the information provided, make your recommendation to the client's board of directors. You'll be faced with a 20-minute meeting, during which you will have to present using only the notes you've prepared. There are no right or wrong answers here; keep in mind that they are simply testing your reasoning, so you must be able to substantiate your decision. Whatever you say is likely to come under scrutiny, so you should be prepared to defend your position.

Partner Interview

Lastly, you will interview with a partner. There are no set questions; it's more of an informal chat about your career motivation and commercial awareness. Sounds tough – well it is. Deloitte is after the crème of the crop. But with the right profile and skill set, a little confidence and the desire to work in a top notch work environment, you should ace the interview. Good luck.

Deloitte Graduate Recruitment Info

Application Deadline: 29 September 2013

Stats

No. of employees worldwide: 180,000+

Departments

Audit
Consulting
Corporate Finance
Economics and Finance Consulting
Financial Services
Marketing
Tax