PwC says graduates no longer need at least 2:1 degree to work at firm

theguardian.com:

PwC has removed a requirement that new employees achieve a minimum of a 2:1 at university, acknowledging that talent and potential is “determined by more than academic grades”.

The accounting company, a major employer of UK graduates, said it was also removing the requirement from its internship and placement programmes.

By removing the 2:1 requirement for undergraduate and graduate roles, PwC estimates that more than 70,000 more students a year would be eligible to apply for a job. About 17% of students at university do not achieve a 2:1 or first-class degree classification.

The company said the move was about trying to attract job starters from a broader range of backgrounds “including those from lower-income households”.

Ian Elliott, PwC’s chief people officer, said: “While academic achievement has its place, for far too many students there are other factors that influence results. Talent and potential is determined by more than academic grades. Removing the 2:1 criteria will allow us to make real progress in driving social mobility of PwC recruits.”

PwC said it is confident that its in-house behavioural and aptitude testing is up to the task of assessing a candidate’s potential.

A report in April from the economic thinktank the Institute for Fiscal Studies found that male graduates with a 2:2 on average earned 11% less than those with a 2:1, while female graduates were penalised by 7%.

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It also found that access to “elite jobs” appears to be governed by a combination of what a student studies, where they undertake those studies and how well they do.

“Changing the entry criteria will enable PwC