What it does: PwC provides professional services for companies and corporations, such as risk assurance, legal services, tax advisory, data and analytics, management consulting, financial advisory, and forensic accounting.
Mission: To provide an unrivalled level of service and to contribute to the sustained growth of the economy through the execution of vigorous, fair, and high-quality audits based on clear leadership and creative teamwork.
Size & Presence: More than 276,000 people in 157 countries are working together to build trust and solve problems for clients and the communities in which we live and work.
Best Known For: PwC ranks as the second-largest professional services network in the world and is considered one of the Big Four accounting firms, along with Deloitte, EY and KPMG.
The Good Bits: It is one of the largest professional services networks in the world, and it grants them a strong brand in its market. It offers decent benefits. One of the good bits that should be highlighted more is that it is a great place to start off and build your career higher since they often handled clients from big corporations and companies. The firms also value the diversity of their employees.
The Not So Good Bits: Long hours of working and hectic workload. Sometimes employees need to work on weekends too. Therefore, it is hard to practice work and life balanced.
PricewaterhouseCoopers was once two separate firms and merged in September 1998. Before the firms officially merged, both Price Waterhouse and Coopers & Lybrand had gone through several mergers with other firms on their own. Both firms’ history can be traced back to the 19th century.
Coopers & Lybrand adopted their name in 1957, with three firms working under the name: Cooper Brothers (UK), Lybrand, Ross Bros & Montgomery (US), and McDonald, Currie and Co. (Canada). Cooper Brothers were founded in 1854, while Lybrand, Ross Bros & Montgomery was formed in 1898. After both firms joined their practice, Coopers & Lybrand then merged with Deloitte, Haskins, & Sells in 1990.
Price Waterhouse also started off as two different firms. Samuel Lowell Price founded his accountancy practice in 1849 in London. He created a partnership with William Hopkins Holyland and Edwin Waterhouse in 1865. The firms adopted the name Price, Waterhouse & Co. in 1874 after Holyland decided to step back from the partnership.
The merger in September 1998 between Price Waterhouse and Coopers & Lybrand granted the firms a large consulting professional branch, they owed it to the implementation of integrated business management software for multinational companies. There was increasing pressure for PwC to not provide some consulting services to their audit clients because the firm had taken many large companies in the world as their clients. In October 2002, PwC sold its entire consultancy business to IBM for $3,5 billion.
Afterwards, PwC acquired several firms and formed several partnerships, making them one of the largest professional services networks in the world with a wide area of operation. The company operates in 157 countries in 742 locations, with 32% workforce based in Western Europe, 26% in America, 26% in Asia, and 5% in the Middle East and Africa. Though PwC is often referred to as one entity, each firm under its name is financially and legally independent.
As of 2017, 80% of PwC’s employees are millennials. The age gap between the majority of the employees and the rest is not something to worry about, since the company urged their employees to connect by implementing ‘Connect-Embed-Improve’ to promote employee engagement. The higher-ups are approachable. And as a multinational company, PwC is ethnically diverse in its structure and the company truly values its diversity. In America, PwC accepted employees from different ethnic backgrounds.
PwC is a place where the learning process never stops. They still require their senior staff to learn and take training. To ensure their learning goal is widely accessible, the company created a collaboration platform where employees can access course materials and assignments. That being said, PwC has the brightest people in its specialty. The exceptional employee is the standard in PwC, it created a competitive nuance where ones should work harder to make themselves equally stand out from the others.
With years of history in the market, along with their notable high-profiled clientele, PwC is known to be a great place for graduates and interns to learn and develop professionality in their expertise. PwC provides an opportunity to learn from and work with highly skilled professionals. Working for the company will grant graduates a great resume and access to global networks to grow their careers. Though, some employees testified that due to the high-staked tasks and heavy workload, overtime and working on the weekend are normal in PwC offices.
PwC has a well-built recruitment system, they provide clear information on what intern and entry levels applicants must go through during the process on the website. The company has a campus recruiting map across the United States, enabling fresh graduate or intern applicants to search for the school recruiter’s contact point to get the recruitment updates and submit their resumes. If the school is not listed, intern or fresh graduate may send their application directly to PwC before the deadline set by HR.
After submitting the application, graduates are required to take an assessment to be considered to fill the role and they are expected to complete the assessment as soon as possible. But some entry-level positions don’t require applicants to take an assessment, such as senior associate intern, senior associate full-time position, and specialist roles.
If you are selected to continue, the company will reach out to schedule an interview. If you are applying for audit services, tax services, and the Start Internship, you will have two rounds of behavioural interviews. And if you’re applying for consulting services, you will also have two rounds of interviews, one case interview and another a behavioural interview.
You can expect to get the offer if you passed the recruiting process approximately within a week. Most employees claimed to have a positive experience during the recruiting process. Take notes, the company always announces internship enrollment at certain times of the year.
PwC is a good place for interns and graduates since the company has a supportive environment for continuous learning. If you are applying for an internship, it is guaranteed that you will get the best experience. PwC welcomes interns to participate in leadership and technical training, ‘client experience’ where interns will directly work with PwC partners, principals, and staff. The intern will also get PwC’s leadership development and PwC’s shadow experience, where the intern will get the first-hand experience to manage a large management team, just like a partner or principal. While going through your internship, you will get the opportunity to build your networks.
As a multinational company that has many firms working under its name, PwC provides you with the opportunity for global networking and advancement as a stepping stone to building your career as an associate, consultant, business analyst, accountant, and more.
The company offers a great deal benefit package. High starting salary for fresh graduates, annual leave, sick leave, maternity paid leave, and more. They provide complete medical insurance and other financial benefits such as pet insurance, business travel insurance, accidental death & dismemberment insurance, auto & home insurance, identity theft protection, supplemental life insurance (along with basic life insurance), and an employee mortgage program. They also provide benefits for family support and gym pass for since PwC urges their employees to nurture their well-being.
Associates from various divisions will get salaries ranging from US$65.000/year up to US$75.000/year. The number will get even higher as employees build up their experience. An experienced and a senior associate might get paid from US$78.000/year up to US$110.000/year.
The company partnered with the United Nations to help the founding of the UN Women HeForShe IMPACT 10x10x10 Initiative with the goal to advance gender equality. The initiative aims to increase awareness of unconscious gender bias in corporate life, which many times both male and female workers are not aware of. Through PwC Charitable Foundation, the company invests its money in three main targeted areas; people at PwC, education, and humanitarianism.
In the humanitarian areas, the company’s accumulative outcome since 2001 reaches US$16,2 million. PwC works with many organizations (Team Rubicon, American Red Cross, BuildOn) to support disaster victims, aiding the organization to serve and upscaling their technology to serve people in need. While in the education area, the company’s accumulative outcome reaches US$73 million since 2001 which the company used to work with Mind Research Institution, Feeding America, BUILD, National Women History Museum, National Museum of African American History & Culture, DonorsChoose.org, The History Makers, and more.
In 2018, PwC got hit by a whistleblower case, involving a senior manager—Mauro Botta—the company who submitted a file of proof of PwC’s misleading practice in auditing their clients from Silicon Valley to the US SEC. Botta accused the company of not doing the rightful independent audit without ‘interest’ for their client. However, SEC did not pursue an enforcement action against PwC.