Degree Flexibility for New Applicants
Earlier this month in the UK, the global accountancy firm PwC removed the requirement that all new employees have achieved at least a 2:I degree or equivalent at university, acknowledging that talent and potential is “determined by more than academic grades”. The company stated that the move was about trying to attract job starters from broader range of backgrounds, particularly those from lower-income households. The requirement has also been removed from its internship and placement programs. Applicants considering Asian or North American offices should re-examine application guidelines, as there is usually a semblance of global parity in hiring processes. PwC remains confident that it’s in-house aptitude and behavioural tests will assess candidates’ potential. The company estimates that by making this change, it renders a further 70,000 graduates from UK universities eligible to apply (currently about 17% of students graduating from UK universities do not achieve a first or 2.I).
The distinction matters. A report in April from the economic thinktank the Institute for Fiscal Studies found that male graduates with a 2:2 on average earned 11% less than those with a 2:I, while female graduates were penalised by 7%. The study also found that students applying for elite jobs are chosen on a basis of subject studied, where that subject was studied, and the results. Candidates without a 2.I are rarely eligible to apply for masters degrees or other postgraduate training programs. When anyone claims parity among degree courses, don’t believe the hype.
PwC are not the first to make this change. They’re not even the first global accountancy firm: in 2015, EY scrapped it’s 2:I requirement, having found “no evidence” of correlation between success at university and professional success. Ian Elliott, PwC’s chief people officer, said: “While 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. Removing the 2:I criteria will allow us to make real progress in driving social mobility of PwC recruits… Changing the entry criteria will enable PwC to further 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…”
Most large firm in all sectors show some flexibility with applications, particularly for those narrowly missing grade boundaries. Those with less impressive degree results often find the application process daunting, particularly as initial selection is done digitally. Each application, if completed impactfully, takes a great deal of time, energy and focus. Repeated disappointment can be crushing, and time spent on applications can also be devoted to internships and other CV-enhancing elements that make future success more likely. Hundreds of global companies have projected increased hiring in the third quarter, despite predictions of a recession at the end of 2022.
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