PwC
The largest accountancy by revenue and the forerunner of the Big Four, PwC provides assurance (including financial and regulatory reporting), tax, and advisory services to a majority of the world's largest companies.
Pros
|
Cons
|
Employee Reviews
Life on the Job
Quality of Work
- "It's a fantastic place to pick up some soft skills, as you are in contact with
clients every day." -- Associate
"The work can become repetitive very quickly and quite boring after a few months. This could be said of all accountancies. Make sure you don't get stuck in audit for too long and use it a stepping stone to move to industry or something you're passinate about." -- Associate
"PwC encourages working in different departments, ranging from accounting to consultancy to operations." -- Associate
Culture
- “Incredibly supportive workplace culture.” -- Associate
"Excessive politics, especially at the higher level of the firm, takes away from the effectiveness of the work we do since everyone focuses on their individual progressinstead of working in a unified way for the client PwC as a whole." -- Senior Associate
"On the whole, people
are friendly and polite to each other and make the effort to get on with everyone
else. You get to work with a wide varitey of people across the firm and
in the large offices (like the London offices) the social side can be excellent." -- Junior Associate
Hours, Pay & Perks
Hours
- “No one monitors whether you are in the office at 9am, and no-one seems to micromanage. Employees are respected and trusted, and expected to provide good results.” -- Junior Associate, Audit
Pay
- “Bonuses depend on both individual and group performance.” -- Associate
“Pay varies on whether you are in assurance, advisory or advisory transactions – the latter being the highest as well as the most prestigious division. Also salary increases are generally steep in this division, from 15 percent to 45 percent.” -- Associate
"The pay and benefits package is competitive and comparable to the other Big 4. There is transparency about what pay you can expect on you way to becomeing partner." -- Associate
Associate: £25,000 to £30,000Advisory Associate: £24,000 to £30,000Audit Associate: £27,000 to £29,000Tax Associate: £25,000 to £29,000Audit Senior Associate: £31,000 to £48,000Advisory Senior Associate: £34,000 to £45,000Tax Senior Associate: £31,000 to £50,000Manager: £38,000 to £70,000Advisory Manager: £45,000 to £75,000Audit Manager: £50,000 to £75,000Tax Manager: £46,000 to £70,000Advisory Senior Manager: £60,000 to £100,000Tax Senior Manager: £80,000 to £109,000Senior Manager: £55,000 to £85,000IT Manager: £45,000 to £75,000Marketing Manager: £47,000 to £52,000Strategy Manager: £63,000 to £78,000Director: £110,000 to £155,000
Interviews
Interviews & Assessments
- “The assessment lasted three days with all expenses fully covered by the company. It involved four exercises at night, five exercises during the day and, on the last day, an interview usually with a partner.” -- Associate
Sample Questions
- "What made you decide to join this Professional Services?"
"What do you know about our business?"
"Describe how you see the role of a graduate at PwC?"
"What is the biggest mistake you have made? What did you learn from this mistake?"
"Tell me about a time when you have worked in a team? What was your role?"
"Where do you see yourself in the next 5 years?"
"What are your major achievements to date?"
"Tell me about a difficult experience at work and how you dealt with it."
"What do you do in your spare time?"
"Have you applied for any other graduate jobs?"
"How does PwC add value to its clients?"
"How is PwC Assurance divided and in what division would you like to work?"
"Tell me what you know about the qualification which you will be studying?"
"What do you consider to be your strengths?"
"What are your development areas?"
"How do you structure your time at university ensuring you balance your personal life?"Competency Based Questions:
"Give me 2 examples of when you have worked in a team to achieve a goal."
"Give me 2 examples of where you have had to lead a team."
"Give me 2 examples of where you have been in a situation of conflict, and explain how you choose to do the right thing."
"Can you discuss any recent developments which have strongly affected PwC and the accounting industry?"
"What do you anticipate you will be doing in your first year at PwC?"
"What can you tell me about the (ACA) qualification to which you have applied?"
"What can you tell me about the line of work to which you have applied?"
"What do you think you will be doing in your first year at PwC?"
"Discuss a recent piece of financial news that has been in the press?"
"Why do you want to work for PwC? Why PwC instead of another Big 4 firm?"
"Where do you see yourself in 5 years time? At PwC, in 5 years you can reasonably expect to finish 'Manager' position and be moving into managing staff and clients on your own."
"What recent events have affected PwC and the accounting industry? (This would include the Sarbanes-Oxley Act)."
"What factors do you think are important to make a successful business?"
"If you were senior partner at PwC, what would keep you up at night?"
"Give me an example of a business you think is performing well/badly and explain why you think this is so?"
"If you had £1 million, how would you invest it?"
"Tell me about a time when you have had to motivate someone?"
"Tell me about a time when you have to resolve a disagreement diplomatically."
"Tell me when you learnt something new?"
"If you met the CEO of M&S and were asked for advice from an auditory point of view, what would you say?"
"If you were unsuccessful with PwC what would you do?"
The Inside Buzz View
Graduate Careers at PwC
With clients accounting for 40 per cent of companies in the FTSE 100, it’s no wonder that PwC is one of the companies at the top of the business world. With services that cover business consulting, audit, tax services and assurance, just to name a few, it is one of the largest companies in the world, boasting offices in 757 cities all over the world and over 161,000 employees. Its revenue in 2010 came in at 26.6 billion USD, so it’s clear that they are extremely successful at what they do.
PwC has so many roles and seats to fill that they’re constantly recruiting and on the lookout for bright minds. But this does not mean that the firm will take just anyone. PwC looks for bright, enthusiastic candidates who yes, test well, but the test is not the only thing they consider. The application process itself is not a “one size fits all” approach so the kind of interviews and assessments you will have to go through depends largely on the role you’re applying for.
You will first need to fill out an online application that requires basic personal information and history, as well as some questions about what your preferred client at PwC would be. In later stages of the process, this application form will come back into play so make sure you write about things you are familiar with and enthusiastic about. In the case of an in-person interview, the interviewer will often use this form as a guide, asking you to expand upon what it was you wrote so don’t just fill in this form and forget about it!
If you are successful in step one, you’ll next be asked to have a telephone interview. Many people find this kind of interview tricky because it’s easy for your mind to wander when you’re not actually looking at the person asking you questions. But another mistake is thinking it will be easy. Take your time to prepare, make sure you have a pen and paper in front of you for anything you want to write down, take deep breaths and answer every question enthusiastically. The interviewer will be looking to see how well you build a connection with them in a fairly impersonal situation, while also speaking intelligently.
Next you may be asked to take a technical test, depending on what you’re applying for. This is where people start to get really nervous – but don’t! PwC is good at taking into account all aspects of applications so they will never judge you solely on your technical test. Yes, they are timed tests, but you are not penalised for not finishing. Perhaps most importantly: if there is something on the test you’re not sure of, ask for clarification and that will give you the best chance at a high score.
>> Practice Numerical and Verbal Tests used by employers
>> Practice In-tray / e-tray simulation tests
>> Improve your performance at Assessment Centres and Group Exercises
Finally, at some point you will have a face-to-face interview with a partner or director, which has been described as more laid back than expected. Your interviewer is not interested in tripping you up, confusing you or asking you trick questions. Rather, they want to know what makes you tick, why you’ve chosen to go for a job at PwC, and what industry news you’ve been keeping up-to-date with. Some interviewers will focus on what you think needs to be done at PwC, so make sure you spend some time thinking about strategies you believe the company should take and the strengths and weaknesses of the firm.
The process may seem lengthy but PwC is the biggest player around and therefore the procedure is accordingly stringent. Do note though, the recruitment process will vary depending on the division and regional office applied to. Above all if you relax, take your time and express yourself clearly and enthusiastically, you may be a PwC employee sooner than you think!
PwC Graduate Recruitment Info
How to apply: www.pwc.com/uk/en/careers/index.jhtml
Application Deadline: 29 September 2012
PwC Profile & Stats
Considering that PwC was only formed in 1998, after a merger, it has ascended with relentless pace as one of the forerunners of the Big Four. PwC prides itself on being amongst the main providers of assurance, tax, and business consulting services in the accountancy industry. This claim is not unfounded as the firm’s annual revenue confirms it status as the world’s second largest accounting network. This is also underlined by the fact that PwC can boast a strong global network with 161,000 employees working in over 150 countries worldwide.
PwC’s current form is the result of numerous alliances and mergers aggregated throughout its 150 year history. Its origins stretch as far back as the mid-19th century, when Samuel L Price established his own firm in London in 1849. Price Waterhouse & Co was formed with the merger of Price, Holyland and Waterhouse. A few years later in 1854, William Cooper opened a similar business also in the capital that – after various mergers – eventually established itself in the 20th century as Coopers & Lybrand. Several mergers later, the 5th and 6th biggest firms, Coppers & Lybrand and Price Waterhouse, merged to create PwC in 1998, one of the world’s largest accountancy firms.
Augmenting this enviable boast, PwC provides a wide range of professional services for both public and private clients. Auditing accounts for over half of the global network’s revenue, although in the UK other services, such as tax and transaction, generate more of its turnover. PwC’s core departments include audit and assurance, tax, consulting, business recovery, corporate finance, strategy, actuarial, sustainability/climate change, as well as services in HR, transaction and forensic.
Consumer and industrial products and services are the most lucrative sectors for PWC in the UK, followed by financial services, technology, infocomms (SIC), entertainment and media, and government. Additionally, PwC provides research and consulting services to many industries, and publishes a number of reports on related issues. Some reports are industry snapshots, while others focus on M&A within these industries. The clients of PwC member firms around the world range from the largest organisations to smaller entrepreneurs.
PwC is the UK’s largest audit firm and the company overall has managed to increase its global gross revenues for the past 12 months to a staggering US$26.6 billion. Despite the difficult economic environment, many PwC network firms across the globe have maintained their leading positions in their respective markets, a clear sign of the powerhouse that is PwC. Additionally, PwC has certainly not lost any of its appeal as a popular graduate employer. For the seventh year running, the company has been able to maintain its top spot in ‘The Times Top 100 Graduate Employers’ Survey.
Given the emphasis PwC places on recruiting the cream of the crop, the firm has been keen to keep as many employees on board during the economic turmoil of the past few years. The graduate scheme in 2010, for instance, was held at similar levels to 2009, and April 2011 saw PwC’s largest ever spring intake, with 209 graduates joining. Despite the ongoing euro zone crisis, PwC’s outlook for the future is a bright one. The company’s business strategy is centred on achieving more growth of PwC’s consulting market share. The firm is also eager to extend its lead in the core businesses of audit, tax, business recovery services and transactions, while other sectors such as human resource services will also be expanded.
