How to Secure a PwC Internship

PricewaterhouseCoopers, more commonly referred to as PwC, is one of the most prestigious professional services companies in the world. According to the firm's website, PwC accomplished quite a lot in 2019: they provided services to 85% of the Global Fortune 500 companies and 100,000+ other businesses. Additionally, 69,734 people joined their firm worldwide and they garnered a staggering $42.4 billion in gross revenues. PwC currently employs around 276,000 professionals, and if you're a student seeking to become a part of that network, here is everything you'll need to know. 

The most common path to an entry level, full time offer is through one of PwC's various internship programs. The main program in the US is known as "Advance," which is a six to eight week internship offered in both the summer and winter. There are other professional development and internship programs as well, such as "Start," which is primarily focused on students from underrepresented backgrounds and colleges. Identifying which program fits your interests and experiences is an important first step, and you can find a detailed list of these on PwC's careers page.

Your research and preparation will probably pay off: according to CareerAddict, the best way to secure an future career at PwC is through an internship experience, as 90% of PwC interns receive a permanent job offer at the end of their placement. 

You should also be familiar with the lines of service you may work under. PwC looks beyond individuals with backgrounds in financial services-- as their firm continues to invest in technological fields, they have a growing need for data specialists and programmers. PwC offers internship experiences in each of the following branches:

• Actuarial
• Risk Assurance
• Consulting
• Deals
• Legal
• Tax
• Technology

For the sake of clarity and focus, the rest of the article will detail the process of applying for an internship in PwC's consulting branch. However, the overall process is generally similar across branches.

How the Firm is Structured

PwC's consulting firm is divided into three horizontals, all of which are hiring interns for the upcoming year. These horizontals and the business areas they focus on are detailed below, as explained by PwC's website:

Strategy&

This team is focused on developing strategic solutions to open-ended business issues.

"As a member of PwC's Strategy& (Strategy Consulting) team, you will help clients seize essential advantages by developing corporate and business unit strategies and building the differentiating capabilities they need to outperform their competitors. PwC Strategy Consultants provide innovative solutions focused on corporate & business strategy, people & organization strategy, operations strategy, customer strategy, and technology strategy."

Management and Risk Consulting

This team closes the gap between ideas and results, leveraging industry and functional experiences. This team is more oriented to those with backgrounds in analytics.

"PwC Management Consultants provide innovative solutions focused on mergers and acquisitions, operations, customer, sales and marketing, human capital and change management, finance, and program and portfolio management. PwC Risk Consultants provide innovative solutions focused on risk considerations across corporate cultures, enhanced governance in risk management, predictive risk analytics, improved risk management processes and controls, monitoring functions and executive/board reporting." 

Technology Consulting

This team focuses on business and system integrators, utilizing technology as an enabler to solve problems and achieve transformation.

"As a member of our Technology Consulting team you will explore innovative ways to help clients transform their business through technology. PwC Technology Consultants provide innovative solutions focused on cloud computing, extracting value from enterprise data, and securing intellectual property and systems from cyber-attacks."

Once you've found a home in a horizontal, you may specialize in 1-3 verticals, or industries. For interns, verticals aren't the primary focus, as gaining experience in a horizontal and providing valuable client service is more important. However, it is important to be aware of the variety of verticals offered before you apply.

How to Prepare

Networking

Networking is an essential part of the recruitment process for consulting firms. Use LinkedIn or your school's alumni database to identify current employees and recruiters. Chat with them about your interests, their experiences, and their time at PwC. By chatting with these individuals, you will get a strong sense of the culture and how you might fit into the organization.

PwC also hosts various recruiting events, such as information sessions, roundtables, and coffee chats, for individuals interested in internships or entry-level positions. Be sure to attend as many of these as possible, as firms track attendance and use it as an indicator of interest throughout the recruiting process.

Casing

Although technical skills aren't heavily assessed, your interviews will extend beyond behavioral questions. Most consulting firms utilize case interviews to evaluate the problem-solving and critical thinking skills of candidates. A case is a made-up business scenario, during which a candidate must solve a problem. This involves walking through one's thought process out loud and recommending a solution (or other path forward).

Some cases are interviewer led, in which an interviewer will provide more information and revelations as an interviewee works through a case. Others are interviewee led, in which the candidate carries the burden of moving the case forward. They must ask consistent questions, make many assumptions, and maintain a structured thought process throughout.

There is a lot of accessible material online and in publications to help you prepare for and practice casing. Case and Point is one of the most popular resources and includes guidance on case structure, questions to ask, how to practice, and more. Many firms, including PwC, also offer casing workshops or (for those interested in technology) cyber security competitions to hone your casing skills. No matter how you prepare, be sure to practice casing extensively before you interview.

How the Application Process Works

Applying

The deadline for summer internships in 2021 was September 22nd, 2020. PwC encourages candidates to apply directly through their website, rather than Handshake or other popular platforms. 

Before you apply, make sure your resume is up to date and properly structured. Additionally, be sure to tailor your cover letter to your desired role. PwC doesn't expect your previous work experience to be super impressive, but make sure to highlight transferrable skills from your education, work, and leadership experience. Finally, prepare at least three professional references and be ready to provide them during the recruitment process.

👉 Be sure your LinkedIn profile stands out as well. Learn how here.

Interviewing

Within a couple weeks of submitting your application, first round interviews begin. In the first round, summer intern candidates will undergo two separate interviews via Google Meet. For Strategy& candidates, both interviews will contain a behavioral section and a case section. For those applying to Management and Risk Consulting or Technology consulting, one of the interviews will be behavioral and the other will be a case interview. 

Should you impress the recruiting team through these first two interviews, you will be asked to return to Google Meet for a final round interview. Strategy& candidates will again have one section of the interview oriented around behavioral questions, while the other half will be a case. For the other horizontals, the final interview will be entirely behavioral.

Get an Offer

If all goes well in the interviews, you should receive a phone call with a verbal offer a few days later. If you aren't contacted after a two week period, reach out to your recruiter to make sure you weren't overlooked. At this point, all the personal information you provided, including employment and educational history will be verified. If you pass this background check, you will begin the onboarding process, receive your start date, and meet the colleagues you'll be spending the summer internship with. 

How the Internship Prepares You for Full-Time

These are three categories, identified by a panel of current PwC professionals, that the PwC internship will assist you with:

Mentorship

You will learn best practices for working with clients, collaborating with teams, and completing individual tasks. You will gain a solid understanding of what a full-time position at PwC entails.

• Formal: Joining as an intern, you are assigned a people team. This partners you with another associate at your level and a senior career coach to assist you with professional development and career progression.
• Informal: You will work closely with your project's manager and team members, plus have plenty of opportunities to meet other members of the firm. Advice and mentorship are two of PwC's priorities, so they will invest in your development accordingly.

Hands-On Learning

This is a way to formally customize your interests at the firm. You'll be expected to work with tools you've never had exposure to and learn new skills quickly. This can be challenging, but it's also rewarding and doable with a structured support system to assist your learning. Additionally, there is a lot of crossover on projects between horizontals and verticals, so blended engagements with new teams, industries, and interests is common, regardless of your assignment. For example, building an app while launching a new product would require consultants from all three horizontals to collaborate and formulate a solution for the client.

Staffing

When teams are formed to solve client problems, project management leaders usually have the final say on who joins the project. This makes networking, especially during your time at the firm, essential. To ensure you're working on projects that interest you (and with people you enjoy), build meaningful relationships with your coworkers. The more connections you have at the firm, the more client-facing time you'll have. Being an intern will give you a head start on networking and help you understand which projects would interest you as a full-time employee.