Having integrated PwC’s legal arm into the wider PwC UK business, the ‘Big Four’ accountancy giant offers something a bit different to your typical law firm.
This is most obviously manifested in the training. As one rookie solicitor tells us: “The training programmes at the firm are not for legal trainees only but for most people at the firm.” Work is as wide ranging as you would expect for such a huge business — at roughly £36 billion PwC’s global revenue is far larger than any law firm (and it has a whopping 743 offices in 157 different countries!). Another insider reports: “I have drafted court documents on large matters largely independently (with appropriate review, of course), and I have also project managed medium-value matters.” Being an accountancy firm, a tax seat is a rite of passage, which can elicit some grumbles.
The amount of legal work that PwC does keeps rising. In recent years, the firm’s UK legal arm has been on a similar level to some of the smaller top 50-100 City law firms with law-related revenue reaching around the £60 million mark. In its latest financial results, PwC’s average profit per partner climbed to all-time highs of £868,000. The signs are that this growth will continue as the major accountancy firms offer more legal services to their clients, although it remains to be seen if PwC will take a hit as a result of the Covid affected financial year of 2020.
With an intake of around 30 a year, the trainee cohort has the vibe of “a smaller organisation within a larger organisation”, one rookie tells us. “The trainee community is great … Your intake is your safety net.” This has fostered a good social scene, with “great vacation scheme socials which the trainees get to go along to. We also have various team socials and trainee socials throughout the year, including most recently a black-tie event at the Natural History Museum and dinner at the Shard.” The partners, meanwhile, are “very approachable”, thanks in part to the fact that “most senior people at the firm do not have a separate office”.
PwC’s main London office, at the bottom of Embankment on the edge of the West End, is everything you’d expect from a multinational. It lays claim to being the most environmentally friendly building in Europe and “has lots of good break out areas” which “allows you to meet new people and learn a lot through osmosis”. But the open plan set-up is not everyone’s cup of tea. One PwC insider describes it like this: “Recently refurbished with hot-desking, loads of break-out areas, pop-up meeting areas, phone booths, booths with screens, unbookable meeting rooms, unbookable quiet rooms, private individual booths. Open plan is sometimes annoying, hard to get hold of a computer screen for desks, hot-desking means desks must be cleared every night and everything put away in a locker (not ideal if you’re working with loads of documents until the early hours of the morning), hard to book a room for meetings etc.” Another reckons the building is “designed for other, more transient professional services who spend their time working when on client sites and not working when in the office.”
Perks are fairly extensive, including unlimited personal use of work iPhones, the ability to buy five extra days of holiday a year and free access to various London galleries and theatre discounts. The building features a decent canteen, but there are some complaints over the fact that it isn’t subsidised — “The hot breakfast is a bargain though.” The pay is seen as “not amazing”. There aren’t too many grumbles about this, as PwC offers pretty good work/life balance — according to our surveys, the working day generally finishes between 6pm and 7pm although hours inevitably vary between departments. One insider tells us the work/life balance is “outstanding in almost every team except corporate”.
On the whole, trainees were impressed with how PwC has adapted to remote working. Insiders report that the switch was “seamless” and that “there has been no interruption/detrimental impact on work delivery/productivity from lockdown”. This seamless transition was no doubt helped by the “excellent” IT systems and “excellent flexible working policy” PwC already had in place pre-lockdown.