PWC Flying Start Accounting Program

[MonkeyTennis34]

DS2 Y13 is going to apply for this program after having been on an open day a few weeks ago.

We're really pleased as it's the first thing he's shown any enthusiasm for but he knows he's got to work really hard to get the grades (AAA).

Any advice on what he should put on his personal statement?

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.

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!

@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.

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!

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!

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!

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.

@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?

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 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?

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

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.