2008 Best Places to Launch A Career

5. KPMG

Accounting


More Info

Company Insight: Private

HQ Address:
345 Park Avenue
New York, New York 10154

Organization's Web site

Careers site

Managing Your Career

KPMG

Global Internship program puts interns to work helping clients in a foreign country.

Getting Started

Undergrad Internships

Internship hiring for 2008 is not complete

Undergrad internships (paid and unpaid)

2008: 2,225 (to date)

2007: 2,266

2006: 1,871

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

2007 interns came from the following classes...

1% Freshman

4% Sophomores

45% Juniors

50% Seniors

...and from the following majors:

85% Business

5% Computer Science

5% Economics

1% Engineering

3% Liberal Arts

1% Math

0% Science

0% Undeclared

0%

There is an official summer internship program*

Average summer program: NA weeks

Minimum: 8 weeks

Maximum: 12 weeks

Average hourly wage: $24.00

Average total intern compensation: $11,029

95% of eligible 2007 interns received full-time job offers

90% of interns with offers accepted

Notes: KPMG's programs for interns include National Intern Training (leadership, communication & cross-functional training), Global Internships (4 weeks working on 6 continents), Fast Forward Leadership (for students 2 years from graduation seeking to enhance leadership skills & meet student leaders from across US and Canada), Future Diversity Leaders (for minority freshmen and sophomores).

Applicants & New Hires

Recruited on 328 undergrad campuses in 2007-08.
Made job offers on 328 undergrad campuses.

Applicants for entry-level jobs

    2008: 22,817 (to date)

    2007: 9,083

    2006: 8,106

Entry-level hiring

Entry-level hiring is not complete for 2008.

New hires in:

2008: 3,267 (to date)

2007: 3,219

2006: 2,813

Entry-level hires who were undergrad interns

2008: 66% (to date)

2007: 64%

2006: 71%

Most important characteristics for new hires:

3 Communication Skills

1 College Major

2 College GPA

2007 entry-level hires came from the following majors:

85% Business

5% Computer Science

5% Economics

1% Engineering

3% Liberal Arts

1% Math

0% Science

0% Undeclared

% Other

...and are:

6% African American

5% Hispanic American

22% Asian American

0% Other

33% Total minorities

50*% Female

Notes: KPMG led the 2007 Public Accounting Report Survey of accounting firms? representation of female partners in Big Four firms, as well as total number of women professionals

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

3% earn $40,000 to $44,999

27% earn $45,000 to $49,999

33% earn $50,000 to $54,999

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

9% earn $60,000 to $64,999

2% earn $65,000 to $69,999

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

1% earn $75,000 and above

Bonuses, Overtime & Perks

82% received signing bonuses

Average signing bonus: $2,875

79% received performance bonuses in their first year on job

Average performance bonus, 2007: $4,300*

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: NA*

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: 36

Maximum PTO days after one year: 36

Maximum PTO days after three years: 36

Maximum PTO days after five years: 36

Maximum PTO days after 10 years:41

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? Yes

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: 3.8%

Min. employee set-aside as a percentage of salary to receive max. co. match: 5%

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? NA

Varies by program

Employee Discounts on the following:

Car rentals

Gym memberships

Cell phone service

Insurance

Cultural events

Publications

Electronics, automobiles, travel, jewelry, clothing, flowers, child care, Weight Watchers, mortgage and college loan services

Notes: KPMG pays a $5,000 bonus for new hires who pass CPA exam in 1st year ($3,000 in the 2nd); other bonuses available for Tax and Advisory certifications

No maximum annual educational reimbursement

PTO days shown do not include additional holidays given during year (e.g. two extra days for 5-day July 4 weekend in 2007) or early Friday close on summer weekends. Employees may donate unused PTO days to colleagues who have run out of time.

KPMG also offers a Roth 401(k) option. New hires below manager receive a one-time $5,000 pension credit that vests after 5 years.

Moving On Up

Work Environment

Average entry-level work week: 43 hours

Does average vary by business unit, department? Yes

Entry-level hire work locations...

0% in open work stations

100% in cubicles

0% in shared offices

0% in private offices

0% have no company-supplied work space

Typical dress code

Business Casual

Casual Friday

Business

Organization sponsors employee volunteer opportunities

Does organization have fitness facilities on site? Some locations*

Notes: Wellness resources include the Athletic-Minded Traveler portal with information on fitness options in cities employees may travel to.

Training Programs

The organization has a formal orientation program for new hires

Program length: 13 days

Orientation includes the following:

Computer training

Guest speakers

Diversity exercises

Team building activities

Facilities tour

Benefits overview

Transitional coach program, overview of firm and its culture, people, and policies

$7,300 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: Self-Study Development Programs*

How do new employees enter the program? Automatic

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

2-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: Great Rotational Opportunities (GRO) Program*

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)

Depends on specific rotation

Is program rotational? Yes

If so, how many locations or business units does the employee spend time at? 2

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?: 100%

How much is the typical raise: 5-9.9%

Does company have formal mentorship program? Yes

100% of entry-level hires participate

6 days of additional training expected

Notes: The Self-Study Development Programs are a collection of web-based training courses offered to all employees to help develop skills like time management.

Other programs include Global New Hire Training (overseas training for Audit & Advisory new hires and Tax trainees who have at least 2 years with the firm); and Employee Career Architecture (provides tools, resources &cultural support to build and manage careers, including information on career paths and compensation).

Getting Ahead

Three-year retention rate: 53%

Five-year retention rate: 28%

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?

Both performance and seniority

When are entry-level hires eligible for first promotion?

6 months to 1 year

Evaluations

Frequency of evaluations

Six months, annually, and following client engagements

Most important characteristics for entry-level hires:

1 Analytical Skills

2 Learning Ability

3 Quality

Min. tenure in years required for job change: 0

Transfer rules:

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: 1,829

No. of employees with VP or similar title with 20 years plus seniority: 666

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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