2008 Best Places to Launch A Career

3. PricewaterhouseCoopers

Accounting


More Info

Company Insight: Private

HQ Address:
300 Madison Avenue
New York, New York 10017

Organization's Web site

Careers site

Managing Your Career

PricewaterhouseCoopers

Two out of three entry-levels this year came from the ranks of former interns.

Getting Started

Undergrad Internships

Internships are filled for 2008

Undergrad internships (paid and unpaid)

2008: 2,320 (to date)

2007: 2,882

2006: 2,807

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

2007 interns came from the following classes...

1% Freshman

9% Sophomores

52% Juniors

38% Seniors

...and from the following majors:

92% Business

3% Computer Science

3% Economics

1% Engineering

0% Liberal Arts

0% Math

0% Science

0% Undeclared

1% Law, healthcare

There is an official summer internship program*

Average summer program: 10 weeks

Minimum: 8 weeks

Maximum: 10 weeks

Average hourly wage: $23.80

Average total intern compensation: $10,345

90% of eligible 2007 interns received full-time job offers

87% of interns with offers accepted

Notes: The internship curriculum focuses on training, career development, and client service activities. Project Belize showcases the firm's commitment to corporate responsibility; Interns will spend a week working with PwC staff/partners to revitalize 4 schools and provide academic support.

Applicants & New Hires

Recruited on 200 undergrad campuses in 2007-08.
Made job offers on 200 undergrad campuses.

Applicants for entry-level jobs

    2008: 27,088 (to date)

    2007: 27,890

    2006: 25,865

Entry-level hiring

Entry-level hiring is not complete for 2008.

New hires in:

2008: 2,917* (to date)

2007: 3,602

2006: 3,744

Entry-level hires who were undergrad interns

2008: 69% (to date)

2007: 47%

2006: 41%

Most important characteristics for new hires:

3 Communication Skills

1 College Major

2 College GPA

PwC Careers provides entry-level employees with a clearer understanding of expectations for high performance, career path options, learning opportunities, and how their performance is tied to their rewards and recognition.

2007 entry-level hires came from the following majors:

88% Business

4% Computer Science

4% Economics

1% Engineering

1% Liberal Arts

1% Math

0% Science

0% Undeclared

1 Law, healthcare% Other

...and are:

6*% African American

6% Hispanic American

20% Asian American

3% Other

35% Total minorities

48% Female

Notes: PwC participates in the eXceed Scholarship Program, which grants highly qualified freshman and sophomore minority students $3,000, an invite to a 3-day diversity leadership conference, and a guaranteed PwC internship. The largest number of scholarships were awarded in 2008. The company also participates in IMPACT, a high school program that mentors diverse students and helps them prepare for college.

Salary & Benefits

Salary & Benefits

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

Average base salary:
$50,000 to $54,999

0% earn less than $35,000

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

4% earn $40,000 to $44,999

30% earn $45,000 to $49,999

29% earn $50,000 to $54,999

24% earn $55,000 to $59,999

5% earn $60,000 to $64,999

1% earn $65,000 to $69,999

4% earn $70,000 to $74,999

3% earn $75,000 and above

Bonuses, Overtime & Perks

93% received signing bonuses

Average signing bonus: $3,761

33% received performance bonuses in their first year on job

Average performance bonus, 2007: $3,663

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: $15,250

Full grad school sponsorship for jr. level employees? Yes

Partial grad school sponsorship for jr. level employees? Yes

Time Off

Total paid vacation days

Vacation days during first year: 15

Vacation days after one year: 15

Vacation days after three years: 22

Vacation days after five years: 22

Vacation days after 10 years: 22

Total paid holidays: 10*

Paid time off for religious observances and/or floating holidays:

Floating holidays/religious observance days off per year: 2

Paid sick/personal days allowed in first year: NA

Flextime is not 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%

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? No

Max. annual relocation expenses? NA

Employee Discounts on the following:

Car rentals

Gym memberships

Cell phone service

Insurance

Cultural events

Publications

Many retail products, plus Well-Being Rewards, which are awarded for engaging in healthy behaviors and may be redeemed for retail gift certificates or charity donations.

Notes: Since 2003, PwC has had a firmwide shutdown at year-end or over July 4 holiday (as business allows) for up to 11 consecutive days. Since 2004, employees have been allowed to take full or half day off on Fridays after working a compressed workweek.

Matching Gift Program will match employee contributions to certain colleges/universities.

Moving On Up

Work Environment

Average entry-level work week: 45 hours

Does average vary by business unit, department? No

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

Typical dress code

Business Casual

Business

Organization sponsors employee volunteer opportunities*

Does organization have fitness facilities on site? Some locations

Notes: PwC offers many opportunities to volunteer with over 70,000 hours donated in 2007, including 54,000 hours in our annual Month of Community Service in June.

Training Programs

The organization has a formal orientation program for new hires

Program length: 15 days

Orientation includes the following:

Computer training

Guest speakers

Diversity exercises

Team building activities

Facilities tour

Benefits overview

PwC culture and values, coaching and development, ethics and compliance, line of service technical training, peer host program, New Joiners Circle (affinity group).

$6,000 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: Genesis Park*

How do new employees enter the program? Recommended/Sponsored

If not hired directly into program, when are most new hires first considered eligible? After 3 Years

16-week training program

After completion of program, what percentage of employees receive a raise? 75% to 99%

How much is the typical raise: 5-9.9%

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

Program Name: Early PwC International Challenge (EPIC)*

How do new employees enter the program? Apply

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

Other (explain below)

Must be sponsored

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: NA

Minimum: 52 weeks

Maximum: 156 weeks

After completion, what percentage of employees receive a raise?: 75% to 99%

How much is the typical raise: 5-9.9%

Does company have formal mentorship program? Yes

100% of entry-level hires participate

12 days of additional training expected

Notes: Genesis Park is a global leadership program open to high performing staff.

EPIC program is for qualified staff who have a desire and committment to gain international. experience. It requires a track record of excellent performance and all necessary credentials. Assignments average 2 years. Other programs include PwC StartRight, which is for diverse talent to support their transition into a professional services environment using technology/video-based training.

Getting Ahead

Three-year retention rate: 50%

Five-year retention rate: 31%

How are raises determined?

Performance

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

6 months to 1 year

How are promotions determined?

Other Performance is measured against 10 core competencies. An employee is eligible for promotion after mastering competencies for current level and begining to demonstrate competencies at the next level.

When are entry-level hires eligible for first promotion?

More than 1 year

Evaluations

Frequency of evaluations

Following client engagements; at least 4X a year

Most important characteristics for entry-level hires:

1 Ten core competencies essential to success

Min. tenure in years required for job change: 0.5

Long-Term Prospects

Does position of vice president exist at this organization? No

If not, is there a comparable title? Partner

No. of employees who hold VP or similar title: 2,205

No. of employees with VP or similar title with 20 years plus seniority: 885

Age of youngest employee with VP or similar title: 32

Seniority of youngest employee with VP or similar title in years: 11

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