PwC Faces Growing Competition for Young Talent Amid AI Concerns

More than 60,000 graduates and school leavers applied for 2,000 entry-level roles at PwC last year. The surge of 35 per cent in applications reflects heightened competition for white-collar jobs, a sector increasingly perceived as vulnerable to artificial intelligence.

PwC has begun to implement new technologies to streamline tasks often associated with lower-value activities. However, the firm has decided against fully automating or offshoring all routine work. According to Phillippa O’Connor, chief people officer at PwC UK, maintaining a junior workforce is essential for career development and understanding subjective aspects of roles, such as auditing accounts.

The traditional “pyramid” structure, which sees a large base of junior staff with a smaller number of senior professionals, is under scrutiny. Expectations in the industry suggest that these structures might soon evolve due to AI’s capabilities. Yet, PwC appears committed to preserving this model, arguing that foundational tasks are necessary for younger employees to grow and develop essential skills.

This approach diverges sharply from the strategies of other firms. For instance, Unity Advisory, a consultancy co-founded by a former PwC chief operating officer, is favouring a flatter structure. This potential shift away from a bottom-heavy workforce raises questions about how firms will manage talent acquisition in an AI-driven future.

Current hiring trends indicate that PwC is scaling back its recruitment, though Marco Amitrano, the firm’s UK senior partner, attributes this to broader economic conditions rather than AI displacing roles. As firms aim to integrate AI effectively, the focus remains on securing employees who contribute meaningfully to company culture rather than merely possessing technical skills to interact with AI.

While competitors such as McKinsey and Accenture prioritise applicants’ abilities to utilise AI, PwC maintains its stance on the importance of nurturing a workforce equipped with interpersonal skills and holistic understanding of the business landscape.