Pricewaterhousecoopers is the world’s largest professional service company with over 150 years of history, founded in 1849. With more than 220,000 people working across 150 countries and territories, PricewaterhouseCoopers offers audit, tax, and advisory services to multinationals and governments worldwide. It has been named one of the “Big Four” accountancy firms.
In PwC, young talents have opportunities to explore their careers. They can choose the field (audit & tax) and functions (Consulting, Transaction Advisory Services, Risk Assurance services) they want to pursue.
1. What Does PricewaterhouseCoopers Do?
PricewaterhouseCoopers is one of the most prestigious accountancy firms globally, with offices in almost every country. It provides audit, tax, and advisory services to public and private companies.
PwC’s long history means it has an international reputation for integrity and independence. The company’s motto is ‘Building trust in society, reflecting its commitment to providing quality service regardless of size or sector.
It employs more than 230,000 people worldwide who are committed to delivering exceptional client service while maintaining strong financial performance through continuous improvement.
The firm’s origins date back to 1849 when Samuel Lowell Price set up a practice in London. In 1865, William Welch Deloitte (the son of one of the founders of another accountancy firm, Deloitte Haskins & Sells) joined Mr. Price, and together they established Price & Deloitte.
By 1890, Price & Deloitte was known as Price, Waterhouse & Co.
The name was changed to PW in 1998. That same year PwC became the first accountancy firm in the UK to become a limited liability partnership.
Despite being a known name worldwide, PricewaterhouseCoopers prefers to remain relatively low-profile. The PW offices are usually discreet and don’t have the typical large signage you see outside other well-known corporate headquarters.
PricewaterhouseCoopers is part of the Big Four auditors, Deloitte, KPMG, and Ernst & Young. It has its head office in London and has offices throughout Europe, Asia Pacific, Africa, Latin America, Canada, and India.
2. The Recruitment Process for PwC
One of the world’s largest professional services firms, PwC has a highly selective recruitment process. To be considered for employment with PwC, you must meet specific requirements and follow a set procedure. The first step in the process is typically an online application followed by qualifications-based screening that includes assessments of your skills and abilities related to their firm’s practices and clients’ needs. Once any initial screenings are completed successfully, you will be required to participate in a structured interview. Suppose they decide to extend an offer of employment at this stage. In that case, you will need to verify your current employer stating that they have agreed for you to commence work with them on their behalf within three months of the commencement date or lose the offer of employment.
3. What Are Some Skills and Qualities Needed to Be Successful at PwC?
There are a lot of skills and qualities that you need to be successful at PwC. One example is an analytical mindset. PwC wants someone who can truly dive into the numbers and find what’s happening and use that information to solve problems, make decisions or answer questions. PwC also looks for good communicators – someone able to think on their feet is always great. This way, they can present complex issues in ways that are easy to understand – no matter where they are. This makes sense because a lot of PwC people are in client-facing roles.
Also, it is always good to have a desire to grow, and this way, you will be willing to go the extra mile and take on new challenges – which PwC gives you! Also, being self-driven and motivated is great to have at PwC, and if you can find solutions without depending on others, that’s an even more significant plus. Finally, if you’re someone who likes to be challenged and can handle a fast-paced environment – this is great too!
The right candidate will be driven, flexible, client-focused, and willing to learn. You will be someone who enjoys working in teams but is also comfortable working independently. And of course, your values are essential, so integrity and professionalism will always go a long way.
4. What Sort of Career Opportunities Does PwC Provide?
PwC is one of the world’s leading professional services firms in tax, legal, consulting, and financial advisory. It employs more than 223k people across 158 countries.
Before you start your career at PwC, it’s essential to know that there are different types of opportunities to explore. You can work with clients or other professionals in a variety of industries–including energy & natural resources; life sciences; retail & distribution; technology, media & telecommunications (TMT); business services; and public sector–to help them identify new ways to grow their businesses or manage risk. Each industry offers its challenges, which will require you to be creative to succeed. The sectors also offer different levels of responsibility: whether you’re starting or are further along in your career.
As a graduate, there are many opportunities to get involved with projects that will help you learn about business while working on real issues facing businesses today. You could find yourself analyzing the environmental impact of one of PwC’s clients or helping develop an IT strategy for our technology, media, and telecommunications (TMT) clients.
Depending on your geographical location, you could also have the opportunity to join an international team or even travel abroad for work. The world of possibilities is endless.
5. What Are the Working Hours at PwC?
PwC operates a flexible work schedule that typically includes standard business hours from Monday through Friday and extended periods when employees are required to be available on-site. Extended periods of availability typically occur during staff meetings, known as “All Hands” meetings held ten times per year. These meetings are typically 1 to 2 days in length but have been known to last up to 4 days during hectic periods within the firm.
6. What is the Culture Like at PwC?
An organization’s culture consists of the shared attitudes, values, and beliefs held by its members. When you consider whether or not to become a part of an organization, it is essential to understand what they do as a business and what type of work environment and culture they foster.
7. Why Should You Work at PwC?
People are drawn to PwC because of the company’s dedication to client satisfaction. They work hard to make sure that their clients are satisfied with their experience here, which shows in the results. Take a look at some of their accomplishments over the last few years:
- Forbes recognized PwC as one of America’s Best Employers for Women in 2017
- We ranked #1 on Fortune Magazine’s list for most admired companies in 2016
- Ranked #2 on Fortune Magazine’s list of best places to work in 2015
- One hundred percent (100%) of women who participated in an internal survey said they would recommend PwC as a place to work or intern. That is higher than any other firm, bank, or financial institution.
- PwC ranked #6 in Glassdoor’s top 50 Companies 2018 list, based on employee reviews and ratings about their CEO, compensation, and culture.
8. How to Get a Job with PwC?
PwC offers many different opportunities for work experience like internships, co-op placements, and full-time jobs. There are also various graduate programs available at PwC, which you can apply to after gaining your degree; these include their MBA program or an MA in Accounting & Finance regardless of whether you’re studying Business Administration or not. One of the most common ways to get into PwC is through their graduate programs.
PwC has no set application date for each year, so that you can apply at any time during the year. Applications are available online on the PwC website, or you can call them up and ask for one to be sent out in the post. The application form is relatively easy to complete, and it consists of your basic contact information, university grades, and work experience (if you have any).
As soon as you apply for a job, it is wise to talk to the careers advisers at your university. They may help with additional things like applying for graduate programs if this is what you’re looking for.
You can do several things to improve your chances of getting a job with PwC. The first one is to ask any current employees you know or friends that have graduated from the university if they could provide you with any additional information or tips about applying and working at PwC.
The next tip is to make your application stand out by providing specific examples of projects or work experience in relevant fields. If you are applying for an accounting position, it would be more beneficial to include any recent accounts coursework that you did, even if it’s just some additional research on specific topics. For example, if you’re interested in corporate finance, you could look up relevant quotes from PwC’s corporate clients and research how these companies are performing against their competition.
An essential aspect of graduating is choosing a university that suits your interests or where you think it will be best for your career. It would help if you chose a university with strong links with companies like PwC, which will make it easier for you to get in touch with them and, ultimately, help your job prospects.
9. What Is the Career Progression in PwC?
There are many different career paths at PwC, and some of the most popular ones are in accounting, consulting, and tax. Each of these paths has its hierarchy, with employees progressing through the ranks as they acquire more experience and expertise.
At the bottom of the hierarchy are entry-level employees, who perform basic tasks such as preparing tax returns or assisting clients with consulting engagements. They typically have little or no experience in the industry, but they are given opportunities to learn and grow through on-the-job training and development programs.
Mid-level employees have more experience and often specialize in a particular area. They may be managers or directors in charge of specific projects or teams.
Senior-level employees are managers or directors who have built a reputation for their expertise, tenacity, and leadership skills. They may be the heads of their departments, with subordinates who report to them.
Entry-level employees tend to specialize in tax or audit work. By contrast, mid-level employees might move into consulting services or another business area that complements their expertise and interests.
Senior-level employees usually hold highly specialized positions that only about 5 percent of all PwC employees have the credentials to fill. They may be heads of their departments or consultants who work on specific projects for clients or industry leaders. Most senior-level employees at PwC move up from other areas, such as tax and consulting, rather than starting as entry-level employees.
To be sure, the path to senior-level positions isn’t always linear or direct. Some PwC employees move into different roles or functions as their interests change, such as from audit to working in a specific industry. Others might take time off from their careers to have a family or focus on philanthropic interests.
The most senior-level employees at PwC aren’t just managers or directors, but they are also entrepreneurs or business owners who play a vital role in its growth and success. They might own one of PwC’s many global practices that assists companies with specific types of business consulting.
10. Education and Experience
There are a few different educational requirements to get a job at PwC. The first is that you need to have a minimum of a bachelor’s degree, and you also need to have some work experience, preferably accounting or auditing. And finally, you need to pass the PwC Assurance Qualification Exam.
Once you meet these requirements, you can send an online application to PwC. If they like your application, they may request that you go through a phone interview and in-person interview. They also give applicants the option of taking a “tryout” week at their office location before deciding about them joining the company.
11. How Much Does an Individual Make by Working in PwC?
PwC employees are typically called “associates.” Employees who have worked for five years with the firm are considered senior associates, those with ten years of experience become partners or directors. Those that worked at PwC for 20 years or more can be designated as a Fellow of the firm.
What does an individual make by working in PW? Associates start out making $55k per year, but they can earn bonuses based on their performance which could push them up to $250k. Senior associates can make a $100k base salary and year-end bonuses of up to $40,000. PwC directors can earn base salaries between $130k to $200k with the potential for annual year-end bonuses of up to $80,000. PwC partners can earn base salaries between $140k to over $350k per year, and they can achieve bonuses of up to $125k.
PwC is an employer that offers a comprehensive benefits package for its associates. Benefits include medical insurance with premiums paid in full by PwC, dental coverage, life insurance, a TIAA-CREF retirement plan with a company match for participants’ contributions up to five percent of their yearly salary, company-subsidized daycare for children less than one-year-old and children between the ages of 1 to 4 years old, twelve personal days per year, ten paid holidays, paid maternity leave for women who have worked at PwC for more than a year, tuition reimbursement up to $5k per year, and an employee assistance program.
Pricewaterhousecoopers offers a wide range of career opportunities for those looking to start their accounting firm or advance within the company. If you’re interested in building your skills and growing with the industry, Pricewaterhousecoopers is an excellent place to look.