PwC tells graduates you don’t need a 2:1 degree as it tries to increase diversity

• The Big Four accountancy firm will start recruiting below the 2:1 classification
• The move is designed to boost the socio-economic diversity of its workforce
• Currently around 17% of graduates do not achieve a 2:1 or 1st class degree 
• Now, up to 70,000 students per year can apply for jobs at the firm

PwC, one of the UK’s largest graduate employers, has said graduates will no longer need a first or 2:1 degree to work at the firm.

In an effort to boost diversity, the Big Four accountancy firm will start recruiting university leavers who graduate with a grade below the 2:1 classification.

The move is designed to increase the socio-economic diversity of its workforce.

PwC said relaxing the entry requirement would help to ‘diversify its graduate intake through broader access to talented young people, who may not have the top academic achievements, but have the attributes and all round proven capabilities for a career with the firm’.

‘Talent and potential is determined by more than academic grades,’ they added.   

PwC, one of the UK’s largest graduate employers, has said graduates will no longer need a first or 2:1 degree to work at the firm – opening up the job to roughly 70,000 students

PwC estimates that the changes will mean up to 70,000 students per year can apply for jobs at the firm. 

At present, around 17 per cent of graduates do not achieve a 2:1 or 1st class degree. 

Last year, around 14 per cent of graduates received a lower second class degree.

UK universities award degrees that are classified in four categories: a first, an upper second (2:1), a lower second (2:2), and third class honours. 

Typically professional services firms, including large city, accountancy and law firms, have required students to have a 2:1 or above. 

Both KPMG and Deloitte, for example, demand a minimum of a 2:1 from new recruits in order to be eligible for their graduate programmes.

However, PwC is not the first of the Big Four accountancy firms to abandon minimum degree requirements. 

EY scrapped the need for 2:1s in 2010 in favour of an ‘open access policy’ that does not screen out applications based on academic performance alone. 

PwC removed UCAS points as an entry criteria for its graduate roles seven years ago, finding that academic qualifications alone are not an indicator of workplace potential. The firm say they use a broad range of assessments to assess ability and potential.   

This year PwC has recruited around 1,200 graduates and approximately 14 per cent of them are from lower socio-economic backgrounds. 

PwC said it recruits at all UK universities, not just the elite Russell Group and runs coaching and skills sessions to support candidates from diverse backgrounds through the application process. 

Ian Elliott, Chief People Officer at PwC, said: ‘Whilst academic achievement has its place, for far too many students there are other factors that influence results. 

‘Talent and potential is determined by more than academic grades and so removing the 2:1 entry requirement will open our roles to a greater pool of talent.

‘We were fortunate to have over 95,000 applications to our graduate and school leaver programmes this year. 

PwC is not the first of the Big Four accountancy firms to abandon minimum degree requirements. EY scrapped the need for 2:1s in 2010 in favour of an ‘open access policy’ 

This year PwC has recruited around 1,200 graduates and approximately 14 per cent of them are from lower socio-economic backgrounds. PwC said it recruits at all UK universities, not just from the elite Russell Group

‘This move isn’t primarily about attracting more applications but opening our roles to students from a broader range of backgrounds, including those from lower income households. 

‘Removing the 2:1 criteria will allow us to make real progress in driving social mobility of PwC recruits.

‘We know that competition for our graduate roles will be as tough as ever but we’re confident that our own aptitude and behavioural testing can assess a candidate’s potential.’  

Additionally, for the third consecutive year, PwC has told candidates with offers to join its UK School and College leaver programme that their places are guaranteed even if they don’t achieve the A level grades previously required. 

Around 80 students were made offers to this year’s programme, which is one of the ways PwC believe they have broadened access to the firm beyond graduates.

Mr Elliott added: ‘Students who sat exams this summer experienced significant disruption to their studies through the pandemic and so we are keen to do all we can to ease the minds of those who are planning to join us through our School and College leaver programmes.’

Source: Read Full Article