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Of the Big Four accounting firms, PwC hired the most new entry-level employees in fiscal 2006.
No. of undergrad internships in:
2005: 2,348
2006: 2,807
2007: 2,882
2006 interns from the following classes:
0% Freshman
2% Sophomores
5% Juniors
70% Seniors
23% Graduates
2006 interns from the following majors:
85% Business
6% Computer Science
3% Economics
1% Engineering
1% Liberal Arts
1% Math
1% Science
0% Undeclared
0% Other
100% of internships paid
0% of internships unpaid
Is there an offical summer internship program? Yes
Average length of summer program: 10 weeks
Minimum: 8 weeks
Maximum: 10 weeks
Average hourly wage: $23.80
Are interns paid on lump sum basis? No
Average total intern compensation: $9,800
88% of eligible 2006 interns received full-time job offers
87% of interns with offers accepted
NOTE: Internship Development Program offered through the Disney Institute provides interns with 4-day curriculum tailored specifically to PwC's environment.
Leadership Adventure is a selective, 2-day early identification program for top college students.
200 undergrad campuses where employer recruited 2006-07
200 undergrad campuses where employer made job offers
Applicants for entry-level jobs
2005: 20,101*
2006: 25,865*
2007: 27,890*
Entry-level hires
2005: 3,322*
2006: 3,744*
2007: 3,576*
Entry-level hires who were undergrad interns
2005: 39%
2006: 41%
2007: 47%
Most important characteristics for new hires:
3-Communication Skills
1-College Major*
2-College GPA
2006 new hires majored in:
85% Business
6% Computer Science
3% Economics
1% Engineering
1% Liberal Arts
1% Math
1% Science
0% Undeclared
2% Other
...and are:
7% African American
6% Hispanic American
20% Asian American
4% Other
37% Total minorities
50% Female
NOTE: Entry-level applicant and new hire numbers based on fiscal year July 1-June 30.
Prospective hires given behavioral-based interview to determine whether they possess PwC's ten core competencies (which range from contributing to team success to demonstrating change agility); this benchmark also used the partner admissions process.
NOTE: Minority Transition Plan matches minority hires to at least 1 premier client, peer mentor, and partner advocate; provides ongoing guidance during 1st year.
eXceed awards high-achieving minority freshmen and sophomores a $3,000 scholarship, 3-day Diversity in Business Leadership Conference, and PwC internship.
Entry-level hires since Jan. 1
Average base salary: $50,000 to $54,999
0% earn less than $35,000
0% earn $35,000 to $39,999
11% earn $40,000 to $44,999
36% earn $45,000 to $49,999
37% earn $50,000 to $54,999
9% earn $55,000 to $59,999
3% earn $60,000 to $64,999
1% earn $65,000 to $69,999
3% earn $70,000 and above
Bonuses, Overtime & Perks
89% received signing bonuses
Average signing bonus: $3,300
47% received performance bonus first year on job
Average performance bonus, 2006: $3,600
0% of 2006 entry-level hires eligible for OT
100% of 2006 entry-level hires not eligible for OT
Reimburse employees for ed expenses?: Yes
Do employees become eligible immediately?: Yes
Maximum annual education reimbursement: $10,000
Full grad school sponsorship for jr. level employees? Yes
Partial grad school sponsorship for jr. level employees? Yes
Time Off
Is there a Paid Time Off (PTO) Bank? No
If no, total paid vacation days:
During first year: 15*
After 1 year: 15*
After 3 years: 22*
After 5 years: 22*
After 10 years: 22*
Total paid holidays: 8
Time off for religious observances: Yes
If yes, max PTO days:
During first year: NA
After 1 year: NA
After 3 years: NA
After 5 years: NA
After 10 years: NA
Total days off for religious observances: 2*
Is flex time available? No
Sick, personal days, first year: Unlimited*
Health Benefits
Do entry-level hires have access to health plan? Yes
Employees pay part of the cost? Yes
Does health plan provide dental coverage? Yes
Extra charge for dental coverage? Yes
Does health plan provide vision coverage? Yes
Extra charge for vision coverage? No
Are same sex partners permitted as dependents? Yes
Pension and Profit-sharing
Do entry-level hires have access to 401(k)? Yes
60 months to full vesting in 401(k)
Max. company match as a percentage of salary: 1.5%
Min. employee set-aside as a percentage of salary to receive max. co. match: 6%
If 401(k) match not calculated as percentage of salary, explain:
Are entry-level hires eligible for co-funded pension? Yes
Months to full vesting in co-funded pension: 60
Are entry-level hires eligible for profit-sharing program? No
Months to full vesting in profit-sharing program: NA
Maternity/Paternity Leave
Maximum Maternity Leave
30* days during first year
30 days after 1 year
30 days after 3 years
30 days after 5 years
Maximum Paternity Leave
15 days during first year
15 days after 1 year
15 days after 3 years
15 days after 5 years
Other Benefits
Does company match employee charitable gifts? Yes*
Max. annual company match for employee charitable gifts: $7,500
Does company pay relocation expenses? No
Max. annual relocation expenses? $NA
Employee Discounts
Car rentals
Gym memberships
Cell phone/service
Insurance
Cultural events
Publications
NOTE: Employees have 10 paid holidays, including two floating days that can be used for religious observances.
Since 2003, a firmwide holiday shutdown has occurred at year-end or July 4 for up to 11 consecutive days.
Flexible Friday hours also available in the summer.
Employees can take part in more than 200 group projects during annual firmwide community service month.
45 hours worked weekly by entry-level hires on average
Does average vary by business unit, department? Yes
Entry-level hire work locations...
100% in open work stations
0% in cubicles
0% in shared offices
0% in private offices
0% have no company-supplied work space
Does organization monitor e-mail?: NA
Does organization monitor Web usage? NA
Typical dress code
Business Casual
Formal/Business
Does organization sponsor employee volunteer opportunities? Yes
Does organization offer employee daycare? Not offered
Does organization have fitness facilities on site? Some locations
NOTE: Emergency Backup Care Centers in 11 markets when regular childcare falls through; 20 uses per year free of charge. Also, reimburse backup care of own choosing; $50/day max of 20 weekdays & unlimited weekends per year.
Training Programs
Does your organization have a formal orientation program? Yes
If yes, how many days is it? 15
Orientation includes:
Computer Training
Guest Speakers
Diversity Exercises
Team Building Activities
Tour of Facilities
Line of service technical training, Culture and Values course, Peer Host Program, New Joiners Circle (affinity group).
$6,000 average spent on training, per new hire, in 2006
Is there a formal leadership program for entry-level hires of a year or less? Yes
Genesis Park
Do candidates apply directly? No
If not, how is eligibility determined? Business units nominate staff
When are new hires first eligible? After 3 Years
Is program rotational? No
If yes, number of locations or business units: NA
Minimum rotations: NA
Maximum rotations: NA
Length of program, in weeks: 22
Minimum: NA weeks
Maximum: NA weeks
After program, employees offered permanent positions: 100%
After program, do employees offered permanent position receive raise? No
If yes, amount of typical raise: NA
Is there a formal leadership program for entry-level hires of a year or more? No
NA
Do candidates apply directly? NA
If not, how is eligibility determined?
NA
When are new hires first eligible? NA
Is program rotational? NA
If yes, number of locations or business units NA
Minimum rotations: NA
Maximum rotations: NA
Length of program, in weeks: NA
Minimum: NA weeks
Maximum: NA weeks
After program, employees offered permanent positions: NA
After program, do employees offered permanent position receive raise? NA
If yes, amount of typical raise: NA
Does company have formal mentorship program? Yes
100% of entry-level hires participate
12 days of additional training expected
NOTE: Genesis Park is a global leadership development program with 5-month residency in Washington, D.C. or Berlin.
Getting Ahead
Three-year retention rate: 58%
Five-year retention rate: 31%
How are raises determined?
Performance
When are entry-level hires eligible for first raise? One-year anniversary
How are promotions determined?
Performance
When are entry-level hires eligible for first promotion? Less than two years*
Evaluations
Frequency of evaluations
Quarterly*
Important qualities
Other-Performance against ten internal core competencies.
Min. tenure in years required for job change: 0.5
Describe any rules that apply:
Long-Term Prospects
Does position of VP exist at this organization? No
If not, is there a comparable title? Partner
No. of employees who hold VP or similar title: 2,160
No. of employees with VP or similar title with 20 years plus seniority: 865
Age of youngest employee with VP or similar title: 32
Seniority of youngest employee with VP or similar title in years: 11
NOTE: Partners and principals are owners of the firm, not employees.
About 47% of entry-level hires are promoted in less than two years.
Entry-level hires are formally evaluated at conclusion of each project or a minimum of 4 times per year.