Considering a PwC offer - starting salary?

2 December 2008 - 6:07pm
white_tiger

Hi all,

I know this might be a stupid question but I am a bit impatient and excited at the same time. So if you guys can help me out that would be great.

I recently got an offer from Pwc for a graduate role in assurance but I havent received the contract documents yet. I was wondering if anyone of you knows what the graduate salary is for graduates starting in 2009.
I think it is around 27000 but I have heard that they have reduced it due to the economic crisis. Is this true? Anyone any ideas on this?

Thnx...

Latest comments

  • 25 April 2014 - 10:08pm
    • moshoodamusa1

    Hello,pls wht is d salary for entry level @ PwC Nigeria?I mean graduate trainee.Needs quick reply.Regards.


  • 6 April 2014 - 6:59pm
    • clutterback520

    The midlands region pays 24.7k. Not sure abt Manchester


  • 6 April 2014 - 12:25am
    • clutterback520

    @peachy,
    its 25k for rest of England.


  • 6 April 2014 - 7:57am
    • Peachy

    Really? So Manchester, Birmingham etc start on £25k? That's news to me!

  • 26 March 2014 - 10:24am
    • Peachy

    Just to add, PwC Aberdeen starting salary is £23k. The rest of the UK (exc London) is £20k. You also get a flexible benefit of a good few hundred pounds per annum on top of your salary and private medical cover is provided.


  • 25 March 2014 - 12:18pm
    • JohnCollins

    Hi
    been going through ur discussions and i must say most of what u guys been discussing abt has been really helpful to me, but i was hoping u guys would by any chance discuss abt processes involved if lets say i want to transfer from PwC Botswana to maybe UK. I just wanna know whether its possible to do so, would like to do my ACCA in UK though i know recognition after qualifying (since exams are marked in the UK) is the same. Been in PwC Botswana for about 9 months and a few weeks now, haven't yet registered for sponsorship here yet


  • 12 April 2013 - 8:40pm
    • thehardworker

    PwC starting salary for an Associate at the London office 27,250 + benefits under 1000 gbp. Its a pity for London standards and the salary hasn't increased for the last 3-4 years.


  • 12 April 2013 - 8:37pm
    • thehardworker

    PwC Assurance salary for associates based in London is £27,250 + benefits under £1000. There has been no increase in the graduate salary for the last 3-4 years. It is a big pity for the amount of work they make you do, and is really low for London standards.


  • 28 February 2012 - 11:31pm
    • WastedFun

    @wisescummer Stop making blanket assumptions. Get off your high horse and stop whining. There's nothing wrong with being motivated by money. Or by your logic, why not turn down any contract you get and tell them you'll work for free.


  • 28 February 2012 - 4:23pm
    • wisescummer

    It's been hinted at before, but you know in an interview, at the ned the interviewer normally asks 'do you have any questions?' Why not use that opportunity to ask how much pay is and see how that goes? If your purely motivated by money, go for banking, law or consulting. If instead you want a career in accountancy with good prospects, then go for the Big 4. Eventually it will pay off. Plus 20k per anum is a lot more than you get on JSA.


  • 25 February 2012 - 12:26am
    • WastedFun

    How much was 2011 salary in London?


  • 24 February 2012 - 1:00am
    • Farid

    Hey guys, how much will net salary be then? I have just checked with online tax calculator. If the salary is 20k, so monthly gross pay would be £1666 and net one is £1330. Is it right?


  • 23 February 2012 - 12:41am
    • coderspider

    Damn, that is low. 20K is low man. Why so low?

    What about Risk Assurance at regional offices? Is that the same?


  • 16 February 2012 - 3:45pm
    • coderspider

    So what is the starting salary for graduates at PwC???


  • 16 February 2012 - 6:03pm
    • livefires

    At a regional office or in London? Which LoS? They also haven't released the salary information for the 2012 intake as this isn't decided until June/July. I can tell you that my offer letter says the 2011 salary for graduates in Assurance in regional offices in the North of England was 20K + benefits. If it does go up then I really can't see it going up by more than 1k.

  • 23 March 2011 - 3:22pm
    • [email protected]

    Wow this is getting quite heated :s. I can sympathise with those who are struggling to get their foot in the door (it took be 10 months after graduation to get my chance!).

    I think that asking about bonuses is a reasonable question seems there is no overtime payments and all graduate, regardless of skill or technical background are pretty much given the same basic pay structure all the way through their training contract.

    The answer is that there is no bonus unless of extremely expectional circumstances. However, I do stress that their are many benefits to working for a Big4 that is not expressly included in your salary.


  • 10 January 2011 - 9:35am
    • T Account

    how greedy are come of you man. living off the tax payer for how many years..its time for us to pay our way. 20grand, give it 10 years and you could easily be on 5times that. if only you acted like this in interviews there would be more jobs for the ones of us who would appreciate them!


  • 19 March 2011 - 11:32pm
    • Yuri

    You can say that again mate. If only all of these jumped up greedy pants showed their true colours in interviews, all of us honest folk would be much more likely to get their jobs, which we would appreciate more; and probably even work harder. If only the hiring folk knew this, they would be making a much better choice for their companies.

  • 10 October 2010 - 5:34am
    • Furts

    Hey guys,

    anyone have any idea if PWC pays bonus ? If so, how much am I likely to earn in bonus and when does it start (e.g. right from first year ?)

    Thank you.


  • 19 March 2011 - 11:55pm
    • Yuri

    as a fresh out of university trainee, why exactly do you deserve a bonus? Are you planning to be singlhandedly making the company a truckload of money? IF so, you will probably get a bonus. If, however, and as is most probable - you are going to be a drain on resources just like all the other fresh graddies, you are probably going to have to make do without a bonus, don't you think?

  • 4 October 2010 - 10:52pm
    • tutor

    You can solve part of this mystery by going on to Kaplan or BPP course prices.
    Remember Tom that perhaps a lot of your audit time charged in your first 6 to 12 months will be written off WIP but in years two and three when you are a lot more "useful" the firm will charge you out and should make a reasonable recovery to set off against training costs.
    I think the ACA training at big 4 is not a bad deal really. If you survive the monotony of auditing and qualify ACA then your CV looks good. But that bit is just the start of your career.


  • 4 October 2010 - 8:43pm
    • Tom

    It costs more than just training fees to qualify as an ACA. You need x amount of days work experience.

    Having said that, I'd be suprised if the tuition cost per student was as low as £250 per exam - for an average written paper you can spend up to 2-3 weeks in college (tuition and revision) - £250 would work out at less than £3 an hour, so say £75 an hour for a class of 25 which I doubt pays the tutor's salary (who is likely to be ACA qualified and therefore command a decent wage!), costs of the college's own materials, overheads and leaves a profit margin!

    Bear in mind that £150k includes costs of internal training courses, the trainee's salary (£60-90k over three years depending on where you work and who for), benefits, employers NIC contributions, bonuses, etc. Firms will also consider the salary cost of senior staff who train and coach the trainee on a daily basis. (The costs of providing the work experience required to qualify)

    Most firms will also pay fees to the ICAEW (or associated costs) to be recognised as training institutions, and pay a qualified student's joining fees.

    £150k doesn't seem that far off the mark - particularly for a London trainee!


  • 3 October 2010 - 3:19pm
    • tutor

    Dave 2020 I guess you're not for the ACA job then?
    No one is locked in for 3 years. You can leave. Many do if it's not for them.
    Sorry, I don't think it's always the top grads who go into accountancy. They have all joined investment banks or the top consulting firms. Ouch...watch for reaction.
    For sure the costs are nearer to your figure of lets say £7,500. For the graduate there is no cost, not even a benefit in kind.
    The way I sometimes explain it to disgruntled students who, lets face it all get fed up with the training contract at some point, is to look on it as doing a postgrad "degree" that you get paid for.
    It's not bad being paid circa £30k for a 7 month working "year" in your first year and perhaps an 11 month year for the next two. All your tuition fees etc are paid and you get an extemely useful qualification after 3 years . You do get a pay rise during each of the three years plus the boring benefits of Pension, Travel insurance, private health etc etc. On qualification you'll be on £46k give or take. Not going to set the world on fire with that amount, I hear you say but it's up to you to then either work you way up to say partner in PwC (current average annual salary circa £850,000...again not investment bank level at all but still enough for a good life) or make your mark in finance in another sector, eg take at look at the new Chairman of HSBC, Douglas Flint CA.
    Good luck with your chosen career.


  • 2 October 2010 - 10:34am
    • dave2020

    Just spotted the comment that it costs something like £150,000 to get a graduate to qualified status...I don't think that makes sense -

    The exams cost less than £100 quid a go + £40 books - 15 x 140 = £2100, then say they pay for your courses - bear in mind they'll negotiate fees to half what an independent student pays i should think - £250 per exam? = £3750

    So lets say £6000 - bear in mind its tax deductable for the firm so actuall cost = £3600

    So PWC et all spend £1200 a year on training per trainee - lock top graduates into a 3 year contract with the ACA so they can't leave and are motivated to perform, and time off for college is made up for in extra hours during normal work cycle.


  • 28 March 2010 - 1:35pm
    • tutor

    Well, I know you'll get good on the job training. BUT that's what you get whatever work you do. I much prefer to be working to get MY professional qualification, ACA which then tells the business world what I am and what skills I have. I feel it opens more opportunities. There are a lot of cynical business people who think management consultants are not qualified to even understand a balance sheet yet swan in to advise folks how to manage their business. I am much more marketable with ACA after my name than "OJT". A lot of ACAs move into management consulting positions after they've qualified.
    It's all a matter of choice. Plus the ACA is very hard work to achieve and this is generally recognised too.


  • 27 March 2010 - 9:48pm
    • Petrean

    @jungle_boogie, you are right, I considered them as a comparison to management consultant.
    @tutor, what professional qualification are you talking about? in management consulting, it's on the job training ;)


  • 25 March 2010 - 7:02pm
    • jungle_boogie

    @Petrean Accenture is not one of the Big four. You'll find that PwC pay the highest of all the Big 4 (for the same line of service/role) so whatever you find that PwC are paying, EY, KPMG and Deloitte will probably be paying (slightly) less.


  • 25 March 2010 - 3:11pm
    • tutor

    Petrean I think you are missing the point. The salary of (now) £28k plus benefits is not low as you are only actually working for 8 months in your first year. The other 4 months PwC are paying for you to get a first class professional qualification. So, put crudely, first year trainee accountants are on an annual equivalent of £42,000.
    Sure, these consulting firms offer more but NO professional qualifications. Also I know the hours that these consultants work. I know one guy from Cambridge who joined Bain and Co. He works about 14 hours a day plus weekends. That is less than £10 an hour. Despite what everyone says you do not work those sort of hours in audit.


  • 24 March 2010 - 3:41pm
    • Petrean

    Starting salary in London is £27000 full-time. This is SUPER LOW considering all the other big fours (Accenture for instance) are offering at least £31000. Also, if you want to do management consulting in a real boutique firm, you will find salaries are in the £35000-£40000 range.


  • 12 March 2010 - 10:02pm
    • tutor

    £27,500 was 2009 starting salary for first year auditors who only work 8 months. The other 4 they are at college. So to repeat myself (see other threads) this is equivalent to £41k on an annualised basis.
    Management consultancy I presume pays more as you'll be working all year.
    What qualification do you get in management consultancy?


  • 12 March 2010 - 8:55pm
    • titer

    Hi guys .. I'm also interested in the salary PwC offers in management consulting for the graduates.. 27K that you mentioned here isn't a lot.. Can anyone actually confirm this amount for 2010 intake ??


  • 11 March 2010 - 4:34pm
    • tutor

    In autumn 2008 PwC Embankment were paying newly qualified auditors who had just completed their 3 year training contract, £45k


  • 11 March 2010 - 3:42pm
    • hellohello

    I would also say PwC would not be the type of company that would con you out of a higher wage. If they are paying you that wage for that position then they will be paying everyone the same.

    Maybe it is a sign of the times.

    Either way look on the positive side you are a qualified account with a job offer from PwC you can't really ask for a better opportunity.


  • 11 March 2010 - 3:37pm
    • hellohello

    Remember 27k is only for their graduates in London.

    Are you sure they have sent out an official contract with 37k for their London office.


  • 11 March 2010 - 11:09am
    • lizas

    Hi All!

    I just received a offer for a big 4 senior associate position in advisory in london. they're offering me 37k. Is that too little? I'm fully qualified (recently) by the way.

    help...don't know if i've been shortchanged.


  • 11 March 2010 - 2:28pm
    • jl7039

    Seeing as their graduates are paid around £27k without being qualified, I would say its a little low.

  • 25 January 2010 - 11:48am
    • ank

    Yeah me too. I cannot wait to get the written contract from them so I can plan my life for the rest of the year...go travelling, do everything that I was planning to do in the next 3 years! :)


  • 22 January 2010 - 9:34pm
    • bingkk32

    i wish they'd just send out the written contract as soon as the offer has been accepted and get it done and dusted straightaway!


  • 22 January 2010 - 9:12pm
    • bradlever

    Seriously? Do you mean they'd accepted the offer and then it got withdrawn, or had they not accepted the offer and it got withdrawn?

    That's a scary thought. Hopefully, as you say because we're pulling out of the recession, and PwC want to make sure they've got the people when the work starts coming back in, everything should be ok.


  • 22 January 2010 - 9:05pm
    • bingkk32

    yes, i guess there's a few of us here who are starting in Sept :)


  • 22 January 2010 - 8:41pm
    • Ezekiel

    I do not believe the offer is a binding contract as, in the past, graduates have found their jobs no longer exist. In the cases I have heard of this, they are usually compensated in some way or another. I wouldn't worry about it though, it's the same boat for everyone and we're (hopefully) pulling out of the recession now.


  • 22 January 2010 - 7:01pm
    • bradlever

    I hope so. I'm going to accept the PwC offer, but I've been concentrating on my exams at the moment. I was told that they would wait as long as I needed, and I think somewhere in the email it said that they'd wait at least a month. I don't think they would withdraw an offer before a written contract is sent out.


  • 22 January 2010 - 3:40pm
    • bingkk32

    Hey guys

    Quick (but important question)

    Do the offer e-mail and e-mail confirming acceptance of offer together constitute a binding contract?

    Not totally comfortable having to wait months before my written contract is due to be sent out. Anything can happen from now until then, particularly in this climate.


  • 28 December 2009 - 10:12am
    • bingkk32

    thanks for the clarification!


  • 28 December 2009 - 1:08am
    • Ezekiel

    Your actual contract will not arrive until about 12-8 weeks before you start work.


  • 24 December 2009 - 3:08pm
    • bingkk32

    hi all

    just wanted to check something - to all those who have accepted a PwC offer/ are now working at PwC,

    did you guys ever receive a hard copy employment contract via the post?

    i have only received an "offer pack" and associated docs via e-mail...

    many thanks and merry xmas!


  • 25 October 2009 - 7:46pm
    • browncargos

    Do they sponsor work-permits for students at UK universities only?

    I am studying in France (and I am originally from China). I am thinking of applying to PwC 2010 grad intake.
    Will they consider me?


  • 7 September 2009 - 7:26pm
    • Imiliano

    Oh right, that sounds similar to me. I'm applying to the Cambridge office. When I spoke with PwC I was told that instead of doing interview, then assessment centre if successful it will be the other way around now for the Cambridge office, and some other regional ones. Because of this I was told that I will have to wait while things get sorted, and should have a date later this week... pretty frustrating though as I just want to know how long I have to prepare, etc. I think that having the assessment centre (interview with a manager/partner) as the 3rd stage of the recruitment process (instead of the 4th stage last year) and not the 4th means that senior partners have to interview fewer people (at the final/4th interview stage) as I guess some unlucky people will fail the assessment centre.


  • 7 September 2009 - 7:36pm
    • Christina0430

    I think it really depends on offices. They told me currently they are still busy with 2009 intake recruitment. Sounds a bit strange! Anyway, I'll call them this week again and try to sort it out. Congratulations on coming into the last round and good luck with you! May I know what questions you were asked in the first interview?

  • 7 September 2009 - 4:55pm
    • Imiliano

    Christina, well done on passing the tests! You've waited nearly a month and heard nothing?! I passed the tests about 8 days ago and even though I received an email saying I would hear shortly I actually called them 2 days later to get the ball rolling. I am now waiting to hear when the assessment centre will be. It would be in your interest to call ASAP as other candidates may now be ahead of you...

    Best of luck,