PWC Flying Start Accounting Program

My son is currently doing this this and loving every minute. He is enjoying uni life and managing the study well. He must have sailed through the interview as they lowered his offer by 2 grades ( he got higher than that in the end but took some pressure off.)
He applied for lots of apprenticeships too - extremely time consuming but excellent interview experience. He was offered one by another big 4 but had his heart set on pwc.
He had a lot on his cv - work experience, sport, paid work, societies, leadership roles at school. Not sure what the magic formula is but he had lots of scenarios to talk about in different questions.

I would advise him to look at this as he will be part of the next generation if he starts in Sept 25.

www.icaew.com/learning-and-development/aca/next-generation-aca

@summer555 yes the PwC programme @MonkeyTennis34 is asking about is 4 years at uni with integrated work experience and 12 of the 15 exams. So they actually go to uni and have the full uni experience. If they get a 2:1 they stay at PwC full time and complete the final three professional exams. So it takes 5 years in total. School leaver apprenticeships are a different format, they do the ACA over 4 years but no degree. Not sure a level 6 degree is required when you’ve done a level 7 ACA?

Yes partly for the all-round uni experience. I may be wrong as I can't find the details when I just looked but I thought some of the big four programs for school leavers had a degree element where you went to uni for some of the time. My son's friend is doing really well but does sometimes feel he's missed out a bit on the uni experience although he's saved a lot of money.

I think the ACA type ones are good as you're getting a very well-respected and monetisable qualification that the grads will have to study for. I haven't worked in anything accountancy-related since I qualified but my ACA was a key factor in getting my current job (in investing).

I think it's marginal if you have an ACA from a big four but I don't know whether some of the most competitive investment banks and consultancy firms might be swayed by someone who has a degree from a good uni and an ACA. After the first few years, I doubt it makes much difference though.

There is also a risk element -not sure whether things have changed but my friend failed one of our first year ACA exams (he had a few exemptions which ended up counting against him) and was sacked before he even made it into the office. They were more lenient about retakes in the second and third year (to some extent).

@summer555 Personally I'd rather join as a grad than apprentice for multiple reasons but I'd say the big four are great places to work.. Is this because you would still have the university experience eg fun? As opposed to going straight into work at 18? Or other reasons?

I'm a chartered accountant from a big four firm, my husband worked at a big four, several of my friends are partners and my son's just finished a management consultancy internship at one of the big four.

I'd say they're fantastic places to work. Not necessarily silly hours (my son was told his department mostly works 9-5.30), great support and several of my colleagues had a couple of years in overseas offices. Accountancy exams are tough but we had three to four months of the year on study leave.

My son's friend is doing an apprenticeship in audit at EY and he's really enjoying it (he's in his third year). I'd second the calibre of students, he applied to Oxford and turned down an offer from UCL to go to EY (off the top of my head, he had As or A stars in his A levels).

It's true that people often leave post qualification (it was 75% of my year) but that's not generally because they disliked their jobs. Many of us went into investment banking (as the salaries and bonuses were multiples of our big four salaries) and some into industry, again mainly for the money. I worked in M&A which was gruelling hours and a dog eat dog atmosphere but that was very different to my or most of my friends' experiences at big four firms.

Personally I'd rather join as a grad than apprentice for multiple reasons but I'd say the big four are great places to work.

As a Chartered Accountant coming towards the end of their career, I can say it was worth every piece of blood, sweat and tear.

I've used it very differently to most. Became a partner in a small firm very young, was able to earn well part time as kids have grown up, retired from practice early, but earn well for 1.5 days a week work while caring for my Dad. The qualification buys choices.

I have a lot of friends my age with the same qualification and they've all done their own thing with it and been successful. Many very successful (if you base success on money and status).

Even if he doesn't get a FS place, I'd recommend the professional qualification. Although I'd not an accounting degree, I'd do something else and then do a graduate route in. Or, like I did, see if there are any school leaver places.

Good luck!

Was this the online work experience? My DS found that very dull too ... lots of recent grads giving monologues about the PWC values 🥱.
It put him off.

My DH also looked at PWC after taking voluntary redundancy from a senior leadership role in a well known FTSE company but was put off by the GlassDoor reviews which implied they take their pound of flesh.

But the Flying Start scheme does look very good, and having PWC on a CV will always be an advantage.

My advice to the OP would be to encourage their DC to go for it, but not to be afraid to jump ship if they are not happy - they wouldn't be the first or last!

They’re wild. I remember Covid lockdowns hit during my second round of exams and honestly during that time it didn’t feel like a lockdown because I was studying 16 hours a day anyway! Good luck to your daughter hope she’s getting on well. She’s done so well already she should be so proud!

@Gerithegiraffe @KoalaCalledKevin I don’t think anyone would disagree that it is ridiculously tough. DD1 is about to sit the final 3 exams via the apprentice route - it’s not been a walk in the park. But to have ACA aged 21 with big4 experience is quite something.

I agree about the qualification.

I'm doing mine at the moment at PWC (not on the grad scheme, another role that offers study support). It's tough!

Also he NEEDS to pull his grades up. Especially if going down the chartered accountancy route. I was a straight A student (4As at a level) and trust me those exams are the hardest I’ve ever sat.

Yes. Audit senior manager here in a big 4 firm. Get as much experience as he can under his belt. Apply to them all. Make sure he understands the different types of roles. Also write a cover letter for any jobs he’s applying for and make sure it’s specific to the company and the role.

He will need to get those pesky grades up I’m afraid. DD1 is blown away by the calibre of grads entering atm - they’ve a PhD guy just started 🤯 Also do look at the universities offering Flying Start as despite it being exactly the same degree/PwC experience I believe Nottingham, Manchester and Queen Mary’s want AAA but Reading & Newcastle are AAB.

I don't know if any of this background stuff helps but what else has ds done? Has he done absolutely everything he can to help? (Not sure any of it does actually help, but it's got to be worth a shot?) - Is his EPQ on something money/accountancy/financial? Has he applied to any of the PwC days / meetings/ night time sessions to show extra interest. Any other ways of getting any experience at all, applying for a day/week/weekend work experience at any local ACA or ACCA firm. Student room has tips on the whole process, which tests to try out beforehand, what not to do at each stage.

Even then, it's 4000+ applicants for 200 places at each uni (40 places x the 5 unis), it's a tough path. But I still reckon it's one of the best. I mean what's not to like? You get the fun of uni, plus the autumnal placements, the fun of working with fellows who want what you want, practically a guaranteed job, then qualified, sitting the final 3 papers, at a young age. I still think it's a corking deal/route.

Thanks @NotDonna ❤️
What exactly would you like to know Op? Ds1 is in year 3 of 4 at Notts. He is actually on placement now 3 months till Christmas, at Canary Wharf, apartment, paid employment. Enjoying it very much indeed.
The whole process and tests and interviews are very tough. Lots get rejected, but there are good websites with info re the whole process and tips you can try the tests , the student room.
I'd also apply for PwC other apprenticeships, and all other firms, EY, BDO, Deloitte etc.

In response - yes it’s the largest professional services firm in the world. And one of the most well known. The perfect place of training for some of the worlds top CFOs, CEOs, you name it

as things to do after school (or uni) can’t get much better or bigger

I’m a (junior) partner at another big 4 and it’s a great place to work!

yes of course they will need to work hard - but they will learn a lot and the opportunities are second to none - these are the largest professional services firms in the world, and the opportunities to move between service lines or participate in client or international secondments are brilliant

and of course, a big 4 training can be the perfect platform for so many other great things - your child could be a CFO of a listed company!

the equivalent of that programme at my firm has been great - we have had some brilliant brilliant 18 year olds come through the doors and a few years later they are really riding high - going into manager positions or in house

I don’t think your child will regret it.

ps I didn’t train in a big 4 firm but wish I did!

Oh and DD1 was only just 18 when she started and has not found it remotely dog eat dog. They absolutely get their pound of flesh out of her and she works her backside off. At both the job and exams. But everyone has been lovely and the culture in her opinion is supportive. There’s been a couple of jerks (as there would be in most organisations) but they soon get called out.

@oblomov24 just wondering if you have any guidance?
OP, PwC are one of the top 4 global financial services firms. They’re big! It’s definitely worth applying if he definitely wants to do accountancy. As you will know the Flying Start scheme gives them 12 out of 15 professional exams and they take those final 3 alongside ppl on the grad scheme or current apprentices. They’re VERY well looked after and supported on placement but are expected to work hard. PwC no longer offer a school leaver apprenticeship for accountancy (last intake was Autumn 2021). However, the other Big4 - KPMG, Ernst & Young, and Deloitte still do albeit there’s thousands of applicants for a hand full of places. There was 40 on DDs. Lots of mid tier firms offer apprenticeships too.
For DD1 she applied to around 8 apprenticeships and had university (economics) as her back up plan. There’s no reason why he can’t apply to a number of apprenticeships, then have Flying start as one of his uni options but also have another uni finance degree as back up. I’d be reluctant to apply for 2 flying start uni options.

I qualified with a small firm. It was good for me as they offered me the training contract at 18 and I didn't want to.go.away, I wanted to work, and I lived in rural Devon. I did well, qualified and left for a prospective partnership in a similar size firm and was a partner as soon as I completed the further two years experience. We did a bit of everything - yes, including audit back then

But, I pretty much immediately bought myself out of working for the top 10 (as it was then - inc Arthur Anderson and Coopers and Lybrand!)

They have high expectations but, they are doing you a favour really, as.pass, and you have a qualification for life!

I have two close relatives - one went in to one of the Big Four as a grad, and the other took the 5-year apprentice route. Both are thriving and have been well supported, and are out-earning their peers. It’s been great for them.

I was gutted when DD did a virtual work experience with PwC after GCSE's and pronounced it dull!

My big-Four accounting firm days are a distant memory but, through my rose-tinted glasses, it was a great place to work. Sometimes you have to work long hours, but you won't be the only one. There was a great "team culture" whilst training. Yes, some managers have borderline personality disorders, but you can usually swerve towards work that you find interesting once you have found your feet.

What to put in your application (check the guidance on their website; I thought there was a fair amount)? Work experience? If you haven't done any, think of a good reason why not? What have you done to find out about this role (have you chatted to any current students, do you know anybody who works there)?... Try looking for the threads in Student Room; I looked at a few when DD applied.

Good luck; I believe that the places are massively over-subscribed.

I worked at PwC for nearly 20 years (qualified at a smaller firm prior to that) and generally, I'd say it's a great place to work. Long hours/flexibility are expected, but there are lots of benefits. It's fast paced and sociable.

The Flying Start scheme does sound like the best of both worlds, as they get the uni experience - although of course, they will leave uni with some debt. The other apprenticeship schemes will be hard work, combining full time work with study, but good for ambitious types and no debt.