2008 Best Places to Launch A Career

2. Deloitte

Accounting


More Info

Company Insight: Private

HQ Address:
Deloitte LLP
1633 Broadway
New York, New York 10019

Organization's Web site

Careers site

Managing Your Career

Deloitte

Last year's No. 1 isn't resting on its laurels: This year it boosted benefits and training.

Getting Started

Undergrad Internships

Internships are filled for 2008

Undergrad internships (paid and unpaid)

2008: 2,204 (to date)

2007: 1,208

2006: 1,165*

100% of internships are paid, 0% are unpaid.

2007 interns came from the following classes...

1% Freshman

3% Sophomores

65% Juniors

31% Seniors

...and from the following majors:

75% Business

3% Computer Science

4% Economics

2% Engineering

1% Liberal Arts

1% Math

0% Science

11% Undeclared

3% Healthcare, law, political science, public policy, religious studies

There is an official summer internship program

Average summer program: 11 weeks

Minimum: 10 weeks

Maximum: 12 weeks

Average hourly wage: $24.50

Average total intern compensation: $10,000

85*% of eligible 2007 interns received full-time job offers

90% of interns with offers accepted

Notes: All information in this section is based on fiscal years.Number of undergraduate interns and breakdown of interns by college majors include 5-year accounting students working toward a BS and MS simultaneously.

Percentage of interns who received offers and percentage of those who accepted are estimates that include all interns who received offers, not just rising seniors.

Applicants & New Hires

Recruited on 356* undergrad campuses in 2007-08.
Made job offers on 325 undergrad campuses.

Applicants for entry-level jobs

    2008: 55,675 (to date)

    2007: 52,880

    2006: 45,369

Entry-level hiring

Entry-level hiring is complete for 2008.

New hires in:

2008: 3,438 (to date)

2007: 1,996

2006: 1,995*

Entry-level hires who were undergrad interns

2008: 80% (to date)

2007: 90%

2006: 88%

Most important characteristics for new hires:

3 Analytical Skills

1 College Major*

2 College GPA

All information in this section based on fiscal years.

Number of applicants and new entry-level hires, percentage of entry-level hires who were former interns, and most important characteristics for applicants include client service positions only. Most new hires, as defined by this survey, work in client service capacity.

The number of new entry-level hires includes 5-year accounting students pursuing a BS/MS simultaneously and entry-level MAc's.

Most important applicant characteristics refer to audit, enterprise risk, tax and financial advisory services. For consulting, the most important characteristics are GPA (1), work experience (2), and analytical skills (3).

2007 entry-level hires came from the following majors:

64% Business

6% Computer Science

4% Economics

2% Engineering

0% Liberal Arts

1% Math

0% Science

11% Undeclared

12 Political science, languages, law, psychology, communication, religious studies, health administration, public policy, social welfare% Other

...and are:

6*% African American

5% Hispanic American

29% Asian American

0% Other

40% Total minorities

46% Female

Notes: All information in this section based on fiscal year 2008 and includes client service positions only. A large majority of Deloitte's new hires, as defined by this survey, work in a client service capacity.

Salary & Benefits

Salary & Benefits

Entry-level hires since Jan. 1, 2008 (to date)

Average base salary:
$55,000 to $59,999*

0% earn less than $35,000

0% earn $35,000 to $39,999

1% earn $40,000 to $44,999

21% earn $45,000 to $49,999

31% earn $50,000 to $54,999

13% earn $55,000 to $59,999

3% earn $60,000 to $64,999

24% earn $65,000 to $69,999

1% earn $70,000 to $74,999

6% earn $75,000 and above

Bonuses, Overtime & Perks

84% received signing bonuses

Average signing bonus: $5,305

10% received performance bonuses in their first year on job

Average performance bonus, 2007: $287

0% of 2007 entry-level hires eligible for overtime

100% of 2007 entry-level hires not eligible for overtime

Reimburse employees for education 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

The organization has a Paid Time Off (PTO) Bank

Maximum PTO days during first year: 42

Maximum PTO days after one year: 42

Maximum PTO days after three years: 42

Maximum PTO days after five years: 42

Maximum PTO days after 10 years:42

Flextime is an option for entry-level employees

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)? Entry-level hires are given access to a 401(K) savings plan

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%

401(k) Details: Added option of direct rollovers to Roth IRAs for eligible participants in 2008

Are entry-level hires eligible for company funded pension? Yes

Are entry-level hires eligible for profit-sharing program? No

Other Benefits

Does company match employee charitable gifts? Yes

Does company pay relocation expenses? Yes

Max. annual relocation expenses? $10,000

Higher maximums may apply in some cases

Employee Discounts on the following:

Car rentals

Gym memberships

Cell phone service

Insurance

Cultural events

Publications

Cars, laptops, mortgages, emergency day care

Notes: Salary and bonus-related questions include client service positions only.

Educational reimbursement generally covers tuition, registration fees, and books for 12-month period. Degree and other study programs that exceed $10,000 considered on a case-by-case basis.

The Paid Time Off bank represents policy maximums for most people, depending on career level. Entry-level new hires eligible for up to 35 days. PTO includes 10 paid holidays. Time off may also be given for bereavement and certification exams. May carry over unused PTO to next year.

Moving On Up

Work Environment

Average entry-level work week: 44 hours

Does average vary by business unit, department? Yes

Entry-level hire work locations...

12% in open work stations

70% in cubicles

5% in shared offices

0% in private offices

13% have no company-supplied work space

Typical dress code

Business Casual

Casual Friday

Organization sponsors employee volunteer opportunities

Does organization have fitness facilities on site? Some locations*

Notes: Fitness centers currently at 5 U.S. locations.

Training Programs

The organization has a formal orientation program for new hires

Program length: 9 days

Orientation includes the following:

Computer training

Guest speakers

Diversity exercises

Team building activities

Facilities tour

Benefits overview

$5,981 average spent on training, per new hire, in 2007

There is a formal leadership or management training program that lasts less than a year:

Program Name: Deloitte Difference*

How do new employees enter the program? Automatic

If not hired directly into program, when are most new hires first considered eligible? Within First Year

1-week training program

After completion of program, what percentage of employees receive a raise? NA

How much is the typical raise: NA

There is a formal leadership program for entry-level hires that lasts a year or more.

Program Name: Future Leaders Apprentice Program (FLAP)*

How do new employees enter the program? Hired into the program

If not hired directly into the program, when are most new hires first considered eligible?

Is program rotational? No

If so, how many locations or business units does the employee spend time at? NA

Minimum rotations: NA

Maximum rotations: NA

Length of program, in weeks: 104

Minimum: NA weeks

Maximum: NA weeks

After completion, what percentage of employees receive a raise?: Fewer than 25%

How much is the typical raise: NA

Does company have formal mentorship program? Yes*

100% of entry-level hires participate

20* days of additional training expected

Notes: This 5-day consulting course simulates real-life project experience; participants analyze a client problem, deliver findings, and prepare for client presentation. Two or three sessions each year draw 400-550 new hires.

Minority students who sign on to FLAP receive a $5,000 scholarship incentive and begin a 2-year High Impact Performers development program.

All new hires take part in formal performance management program focused on mentoring and coaching.

Additional training days vary with employee specialty and range from 3 to 43.

Getting Ahead

Three-year retention rate: 51%

Five-year retention rate: 28%

How are raises determined?

Performance

When are most entry-level hires eligible for their first raise?

* Sept. 1

How are promotions determined?

Performance

When are entry-level hires eligible for first promotion?

More than 1 year

Evaluations

Frequency of evaluations

* Annually and following client engagements

Most important characteristics for entry-level hires:

1 Learning Ability

3 Quality

2 Teamwork

Min. tenure in years required for job change: 1

Transfer rules: While there are no policy requirements, our 1-year tenure guideline is closely followed with some exceptions.

Long-Term Prospects

Does position of vice president exist at this organization? No

If not, is there a comparable title? Partner, Principal or Director*

No. of employees who hold VP or similar title: 4,084

No. of employees with VP or similar title with 20 years plus seniority: 951

Age of youngest employee with VP or similar title: 30

Seniority of youngest employee with VP or similar title in years: 9

Notes: Individuals are owners and/or participants in a profit-sharing plan. Partners and principals are not employees, but are included in the data

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