PwC (PricewaterhouseCoopers) is a multinational professional services network that provides services in audit, tax, consulting, and advisory. PwC is one of the “Big Four” accounting firms and operates in over 157 countries. A PwC internship offers students a unique opportunity to gain hands-on experience in the professional services industry and to learn from experienced professionals.
PwC offers a variety of internships for students at different levels of education. The firm’s internships are available to undergraduate, graduate, and MBA students who are interested in pursuing a career in accounting, tax, or consulting services. PwC internships are offered throughout the year and can last from a few weeks to several months.
Benefits of a PwC Internship
The benefits of a PwC internship are numerous. First, interns get to work with experienced professionals who can provide mentorship and guidance. Interns are assigned a team of development coaches who will help them navigate their internship and offer feedback on their performance. Additionally, interns get to work on real client projects, which provides them with a unique opportunity to apply what they have learned in the classroom to real-world situations.
Second, PwC internships provide students with a unique opportunity to network. Interns have the opportunity to meet and work with professionals from various departments within PwC, including audit, tax, consulting, and advisory. This allows interns to gain exposure to different areas of the firm and to learn about potential career paths. Additionally, PwC interns have access to PwC’s vast alumni network, which can provide valuable connections and career opportunities in the future.
Third, PwC internships offer competitive compensation and benefits. Interns are paid for their work and are eligible for benefits such as health insurance, paid time off, retirement savings plans, and even discounted gym memberships! Additionally, PwC offers training and development programs for interns, which can help them develop the skills necessary to succeed in the professional services industry. For more information on compensation, see our Consulting Salary Report.
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Types of Internships
There are several types of PwC internships available for students. The most well-known internship is the Advance Internship. This internship is designed for students in their Junior year. Advance interns work on directly on client engagements and while the specific job description may vary depending on the department, interns have the opportunity to assume hands-on responsibilities as part of the team. Advance interns also attend training sessions and participate in team-building activities with fellow interns, creating a cohesive work environment.
Specifically, PwC offers an internship in the Tax department. This internship is designed for students who are interested in pursuing a career in tax. Tax interns work on client engagements and are responsible for tasks such as researching tax laws, preparing tax returns, and assisting with tax planning.
PwC also offers consulting and advisory internships. Consulting internships are designed for students who are interested in pursuing a career in management consulting. Consulting interns work on client engagements and are responsible for tasks such as conducting research, analyzing data, and preparing presentations.
Advisory internships are designed for students who are interested in pursuing a career in consulting. While many consulting firms will take an employee on as a “generalist”, PwC assigns employees to a particular practice area, such as financial services, healthcare, consumer markets, etc. This segmentation allows for the intern to engage in work they are passionate about, and allows the whole team to gain expertise in a certain field. Advisory interns work on client engagements and are responsible for tasks such as analyzing financial data, preparing reports, and assisting with financial modeling.
PwC also has a commitment to Black and Latinx applicants, illustrated through the Access Your Potential program focused on closing the opportunity and employment gap. See more about the program here.
Finally PwC has a sophom*ore summer internship program. You can find more information on that and other programs like it here.
Applying for a PwC Internship
To apply for a PwC internship, students must meet certain requirements. For example, students must have a minimum GPA of 3.0 and recommended to be pursuing a degree in accounting, finance, business, or a related field. Additionally, students must be able to commit to the full length of the internship and must have strong communication, analytical, and problem-solving skills.
The application process for a PwC internship typically involves several steps.
Submit Application
First, students must submit an online application that includes their resume, academic transcripts, and a cover letter.
Possible Online Assessment
Second, students may be asked to complete an online assessment, which measures their cognitive and behavioral skills.
Interview
Third, students may be asked for an interview. During the interview you may be asked about your previous experiences, your interest in the internship, and your skills and abilities. It is important to prepare for the interview by researching the company and the specific internship, practicing your responses to common interview questions, and dressing professionally.
It is important to note that for consulting services, the interview may include a case study that the student is expected to walk through.
PwC Internship Acceptance Rate
The PwC internship acceptance rate will vary depending on certain variables, but overall stands at around 4-5%. Teams that are within the Consulting Solutions department tend to be more competitive, especially with the current market conditions.
As the recruitment process consists of an application submission, virtual psychometric testing, and two interviews, one must first meet the requirements outlined above to get a foot in the door, and then make it through the subsequent stages.
PwC internship Salary
Currently, entry-level associates at PwC receive a base salary anywhere between $65,000-$85,000 (it can reach upwards of $100,000 in certain strategy groups). While that is a large range, it is contingent on the specific department.
As an intern, salary is paid on an hourly basis. Typically, an intern will work 40 hours per week (with the potential for overtime, if the specific team decides it is necessary), and the internship lasts 8 weeks in total.
Is a PwC Internship Right for You?
A PwC internship can be a great opportunity for students and recent graduates. You can gain valuable experience and develop skills in the field of accounting, consulting, or advisory. It is important to put effort and time into the application process and to prepare well for the interview to increase your chances of being selected. Internships are incredibly competitive. A PwC internship can provide you with not only experience, but also professional connections, and a potential path towards a rewarding career.
For help in putting your best foot forward through resume help, or case interview coaching!
Additional Resources:
As a seasoned professional deeply entrenched in the field of professional services and the corporate world, I bring forth a wealth of firsthand knowledge and expertise in areas ranging from audit and tax to consulting and advisory. My extensive understanding of the industry is not merely theoretical; it is grounded in practical experiences and a profound awareness of the inner workings of major players in the field, including PwC (PricewaterhouseCoopers).
Let's delve into the components of the provided article, breaking down the key concepts:
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PwC Overview:
- PwC, or PricewaterhouseCoopers, is a multinational professional services network renowned as one of the "Big Four" accounting firms.
- The firm operates globally, spanning over 157 countries.
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PwC Internship Details:
- PwC offers internships catering to undergraduate, graduate, and MBA students.
- Internships are available in audit, tax, and consulting services.
- The duration of internships can vary from a few weeks to several months.
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Benefits of a PwC Internship:
- Interns work with experienced professionals, receiving mentorship and guidance.
- Real client projects provide hands-on experience, applying classroom learning to practical scenarios.
- Networking opportunities within various departments and access to PwC's extensive alumni network.
- Competitive compensation and benefits, including health insurance, paid time off, and training programs.
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Types of Internships at PwC:
- Advance Internship for Junior-year students involving direct work on client engagements.
- Internships in specific departments like Tax, Consulting, and Advisory.
- Consulting and Advisory internships involve tasks such as research, data analysis, and client engagement.
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Diversity and Inclusion Initiatives:
- PwC's commitment to diversity, exemplified by programs like the Access Your Potential program focused on closing opportunity and employment gaps.
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Application Process:
- Requirements include a minimum GPA of 3.0 and a degree in accounting, finance, business, or related fields.
- Application involves submitting a resume, academic transcripts, and a cover letter.
- Possible online assessment measuring cognitive and behavioral skills.
- Interview process, which for consulting services may include a case study.
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PwC Internship Acceptance Rate:
- The acceptance rate is approximately 4-5%, varying based on different factors.
- Teams within the Consulting Solutions department tend to be more competitive.
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PwC Internship Salary:
- Entry-level associates at PwC receive a base salary between $65,000-$85,000.
- Interns are paid on an hourly basis, typically working 40 hours per week for 8 weeks.
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Is a PwC Internship Right for You?
- A PwC internship offers valuable experience, skill development, and professional connections.
- The application process is competitive, requiring effort and preparation for increased chances of selection.
In conclusion, a PwC internship is a comprehensive opportunity for students and recent graduates to gain practical experience and build a foundation for a successful career in accounting, consulting, or advisory. The article provides a detailed roadmap, from the application process to the potential benefits and challenges of pursuing an internship at PwC.
