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,

    • 7 September 2009 - 6:42pm
      • Christina0430

      Hello, Imiliano, I also received an email from them saying that I would hear shortly from the recruitment team. I called them 2-3 times during this period but everytime they gave me the answer that there's no slot on system. They said I can only wait for their further notice. What office are you applying for? I am going for the Manchester Office. I have a friend who is applying for London office just 20 days earlier than me and he already gets the offer.


  • 22 January 2009 - 12:48pm
    • missnewby

    hi!
    I don't need a work permit which is pretty lucky..

    Are you guys living in the UK already?


  • 21 January 2009 - 9:19pm
    • gameinuk

    blessedme n Missnewby

    I will also join the April intake programme in audit department, n im originally from China.

    Have you guys sorted out the work permit thing out yet?

    • 7 September 2009 - 3:40pm
      • Christina0430

      Hello, I am also a Chinese student and now applying for the 2010 intake programme in Manchester. You must be working already. Can I ask you some questions about the pwc application. When do you start your application and how long it took you to go through the whole procedures to get offer? I was notified that I passed the on-line test 10 August but haven't got any reply since then. It has been one month so I'm a bit worried about it.


  • 21 January 2009 - 10:01am
    • blessedme

    From 9 am to 4 pm. No news abt which business I will be joining.

    I am originally from HK.

    • 21 January 2009 - 10:17am
      • missnewby

      Oh cool! Well I guess I'll meet you in April!


  • 20 January 2009 - 9:13pm
    • blessedme

    Hi Missnewby,

    yes, I am still waiting for PwC legal to contact me regarding work permit application. That would be great if we could start together. I know that we r gonna go straight to college after one week induction. Then we will sit 3 exams at the end of May................... stressedddddddddddd!

    • 21 January 2009 - 9:14am
      • missnewby

      oh man. they get you started straight away don't they. What are the hours at college like?

      Have you heard which business unit you're in yet? I hope they tell us soon

      Where are you from originally? That's annoying they're taking so long with your work permit


  • 20 January 2009 - 8:40pm
    • missnewby

    Hey Blessedme, I'm starting in April too! We must be starting together - I just tried to private message you but it didn't work.

    I'm not sure about the work permit stuff...are you waiting to hear back about yours?


  • 20 January 2009 - 7:53pm
    • blessedme

    Missnewby,

    U could also check PwC embark, which contains loads of useful inf for new graduates.


  • 20 January 2009 - 7:50pm
    • blessedme

    Hi missnewby,

    I only got the offer pack just like u. I think the offer pack is the contract. My training contract starts from April 09 in London, what about you? By the way, do u know anything abt work permit stuff, cos I do need the work permit.


  • 20 January 2009 - 7:44pm
    • missnewby

    Hi blessedme,

    I got my offer pack but I haven't received anything since they started doing the reference check. Do you get the contract after that, or is the offer pack the contract?

    Are you starting in London?


  • 20 January 2009 - 7:42pm
    • Tom

    You should find that your pay will increase a little each year as you progress through your training contract. Upon qualification you should see a somewhat more significant pay rise!

    The flexible working hours scheme KPMG are bringing in is voluntary at present. I imagine as a fresh starter the chances of being affected by cost cutting measures such as flexible working and redundancies are slim - the main effect is a shortage of actual jobs available, most firms have reduced intake numbers this year.


  • 20 January 2009 - 4:19pm
    • tony898

    you have to remember that you are not trained at all, know very little about audit etc - so in all fairness you are not worth that much to the company therefore there is nothing that seperates limitless graduates apart really. They are only going to pay for skills and if your not that skilled in auditing you not going to start on much - this goes up very quickly once you do become skilled tho. Compared to other jobs like security like rasputin said - there wage will hardly go up ever, auditing etc will!

    Having personally worked in london, you need the increase of £6k more because prices are so much more than regional. I have a job with grant thornton in a regional office and have been told i am starting on at least £20k + overtime, so from what i heard is in line with big 4.

    i wonder what happens to kpmg if it goes to a 4 day week, will graduates get even less?


  • 20 January 2009 - 3:14pm
    • blessedme

    Hi Missnewby,

    If u r abt to satrt in 09, you should've got all the relevant inf now. Its all written on the contract!


  • 12 January 2009 - 7:54pm
    • Tom

    Bear in mind that a staring salary of 20k (regional offices) is 2-4k above the national graduate average (depending on whose average you use!) - and in the current economic climate having any job at all as a fresh graduate is a bonus!

    As for differences between departments, I'm not sure, but as far as i know most new starters in the same office will earn the same salary... But I could be wrong!

    • 20 January 2009 - 2:37pm
      • missnewby

      Does the salary go up at all while you're studying?

      Also are there any corporate discounts or anything at PwC?? I'm starting in London in 09.


  • 12 January 2009 - 4:41pm
    • Glasgow-accounts-08

    Does anyone know if the salaries differ between departments? Like does audit get paid more than tax both at the start and in the long-run, or are both departments roughly the same?

    • 9 March 2009 - 6:36pm
      • Zaza

      Difference between departments: usually if you're doing a training contract like the ATT or ACA you will get less than people who go into something like consultancy. They usually start on something like 30k because there is less money spent on them on training.


  • 31 December 2008 - 12:54am
    • traineewannabe

    regional office pay of 20.5k is bad, especially if you have to buy a car/ rent etc, but then it goes up quite fast so just hold out for a while!


  • 29 December 2008 - 10:23pm
    • triciclo

    I will have pay back their loan which I'll use to buy a car, start paying for council tax, pay for car insurance (really expensive as I will be a first time UK driver), car tax... so I think I won't be better off than I am now :( at least for the first year.

    I don't think the regional office salary is that bad. I did some calculations and in terms of living costs I will be better off working in a regional office for less money.


  • 24 December 2008 - 7:31pm
    • Last of the Mongolians

    The salary is bad compared to other grad jobs, particularly in London. But its still better than a poke in the eye. What you have to consider is the far greater earning power an ACA qualification gives you compared to say, qualifying as a solicitor. It makes taking a hit as a fresh graduate all the more sensible. I guess though the starting salary puts a lot of people off, and is why it is inexplicably easier to get into a big 4 accountancy firm than it is a top 40-50 law firm. Long may it continue!


  • 24 December 2008 - 4:02pm
    • Rasputin

    20k for a grad job id tell them to piss off even if it was KPMG thats taking the piss makes a mockery of going to university i can make more than that without using my brain working as a hired goon in the security industry. The fact that a big 4 can get away with paying that little is blooming outrageous


  • 24 December 2008 - 3:15pm
    • Andrew

    I have a friend who is working for KPMG, doing audit in Leeds. He told me he was on 20k now and once he was ACA qualified it should go up to 40k


  • 18 December 2008 - 10:49am
    • joyrevision

    I believe it is the same, they have pay structures in place depending on service lines etc - however I doubt there's much deviation between lines, just experience.


  • 17 December 2008 - 9:25pm
    • ali1986

    joyrevision could you tell us what KPMG is paying outside of london? and is it the same for all regional offices?


  • 6 December 2008 - 1:01pm
    • Imiliano

    Rasputin, i'm in the exact same position as you. I'm paying back my CDL and if I get the job I want will be paying back my student loan too. Therefore I decided to apply to a regional office instead of London and will thus hopefully save money (despite the lower wage associated with a regional office). If Big 4 salaries were on a par with IB then fine, but they are probably not even half!


  • 4 December 2008 - 9:21pm
    • Rasputin

    Well i wont work for less than 25k in London after completing my masters i cant simply cant afford it as a self supporting student iv racked up huge debts even tho i worked full time at uni. I have to start paying back my CDL in Jan plus my student loan which will roughly equate to 450 a month, then my rent prob around 600 plus bills etc if i worked for less than thaty id have to get a second job and go back working on the doors which i dont want to do as it did ultimately effect my study in both my undergrad and graduate degree.


  • 4 December 2008 - 8:25pm
    • Last of the Mongolians

    Its not all down to costs though - apparently it costs £250k for a law firm to train up a trainee over two years, yet they are supposedly the highest paid graduates! I think it also has to do with the sheer number of graduates that the big 4 take on.


  • 4 December 2008 - 7:58pm
    • londonbloke

    how much do graduates receive when they start at PWC? i.e. golden hello or welcome pack


  • 4 December 2008 - 7:53pm
    • Tom

    It is true that salaries is London are significantly higher than in regional offices. Its all linked (supposedly) to cost of living. You will see small variances in salary between offices in other cities based on the perceived cost of living in that area.

    You'll probably find that all of the big four will offer very similar starting salaries when you take benefits into consideration. How and when your pay increases will probably vary from company to company - but when you qualify it will be significantly more than you started on!

    The reason starting salaries are "low" is for exactly the reason whya says - training costs. Big accountancy firms spend millions every year training their graduates. It costs something like £150,000 to get a graduate from new starter to ACA qualified in terms of tuition, exams, materials, etc etc.

    Like whya says again though - if your fresh out of uni a 20k salary net of tax is still a lot more than you'll be used to!


  • 3 December 2008 - 4:23pm
    • whya

    Hi,

    I've also heard that your salary increases increases as you work your way through the qualification but I think high thirties after 3 years is a bit unlikely. High twenties or low thirties is probably more likely. I read somewhere that a manager (which you could expect to reach in about 5 years) would get around 40k plus benefits (outside of London).

    Personally I don't think 20k (outside London) is that low. They are paying for your training and you get some benefits as well. A lot of people leaving uni start on a lot less and aren't getting any further qualifications or benefits. Plus even after paying tax and stuff I'm going to have a hell of a lot more cash than I ever had at uni!


  • 3 December 2008 - 3:37pm
    • joyrevision

    Yes I've heard that many companies give you a pay-rise as you progress through your qualification, but I think you're being a bit optimistic with your pay levels - unless I've missed something and PwC have started giving massive salaries out to trainees...


  • 3 December 2008 - 3:34pm
    • white_tiger

    oh thats quite low in fact...i was expecting something arnd 25.....i read in one of the other threads in wiki that pwc increases ur salary bit by bit each time u pass a paper of the ACA...and by the time u get ur qualification in 3 yrs..it will up in high 30s range...can anyone confirm this or is this a speculation?


  • 3 December 2008 - 1:45pm
    • Imiliano

    Damn, that's pretty low - I thought it was more like £24k for a PwC regional office and around £26-26.5 for London... £20k after tax and student loan payments is just over £15k :o


  • 3 December 2008 - 1:06pm
    • whya

    Hi,

    if your outside London I doubt you'll get 27k. I think most of the regional offices are the same or at least similar. My offer for a September 2009 start was 20k but once you add up all the benefits and stuff it comes out at around 21.5k. My office isn't Birmingham but like I said I think most people at regional offices get the same when joining.


  • 3 December 2008 - 11:07am
    • joyrevision

    Well I'd be amazed if PwC are paying that much outside of London for a grad role but fair play if they are - I know what KPMG are paying and its certainly not that much.


  • 3 December 2008 - 11:04am
    • white_tiger

    no not in london...based in birmingham...


  • 3 December 2008 - 9:29am
    • joyrevision

    £27,000?

    Are you in London? Otherwise its not going to be that much.