Please ensure Javascript is enabled for purposes of website accessibility
February 8, 2023

KPMG University?

Well, sort of.

If you’re thinking something similar to Deloitte’s sprawling campus down in Texas, then you’d be mistaken. The British firm has decided to recruit “school leavers, not university graduates” and will sponsor them to get accounting degrees, reports the FT:

From next year, KPMG will take in 75 school leavers, and then meet the cost of a four-year accountancy degree from Durham university and an accountancy qualification. Trainees on the six-year scheme will start on up to £20,000 a year. In 2012-13, the maximum university tuition fee, now £3,290, will rise to £9,000. At the same time, subsidies are being withdrawn from the sector and rules loosened to allow new entrants into the market and innovation in course design. As a consequence, such schemes could become more attractive to universities.

You could reason that this is a good thing because of the money it will save the students but our concern lies with their university experience. Or, the lack thereof:

KPMG said it could eventually take “in excess of 400” of these trainees a year, more than half its intake. The scheme is therefore expected to replace much of its traditional graduate recruitment. KPMG trainees will not join a conventional degree course. They will, instead, attend special classes to allow them to spend most of their time working at one of the company’s offices.

So, maybe we’re misinterpreting the Queen’s English but that sure sounds like recruits spending their college days sporting business casual, undermining interns/new associates for gofer duties and nothing to do with binge drinking, drug experimentation, gaining the freshman 15 (50?) or sinking themselves into debt. Is nothing sacred?

KPMG to fund young recruits’ degrees [FT]

Well, sort of.

If you’re thinking something similar to Deloitte’s sprawling campus down in Texas, then you’d be mistaken. The British firm has decided to recruit “school leavers, not university graduates” and will sponsor them to get accounting degrees, reports the FT:

From next year, KPMG will take in 75 school leavers, and then meet the cost of a four-year accountancy degree from Durham university and an accountancy qualification. Trainees on the six-year scheme will start on up to £20,000 a year. In 2012-13, the maximum university tuition fee, now £3,290, will rise to £9,000. At the same time, subsidies are being withdrawn from the sector and rules loosened to allow new entrants into the market and innovation in course design. As a consequence, such schemes could become more attractive to universities.

You could reason that this is a good thing because of the money it will save the students but our concern lies with their university experience. Or, the lack thereof:

KPMG said it could eventually take “in excess of 400” of these trainees a year, more than half its intake. The scheme is therefore expected to replace much of its traditional graduate recruitment. KPMG trainees will not join a conventional degree course. They will, instead, attend special classes to allow them to spend most of their time working at one of the company’s offices.

So, maybe we’re misinterpreting the Queen’s English but that sure sounds like recruits spending their college days sporting business casual, undermining interns/new associates for gofer duties and nothing to do with binge drinking, drug experimentation, gaining the freshman 15 (50?) or sinking themselves into debt. Is nothing sacred?

KPMG to fund young recruits’ degrees [FT]

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Comments are closed.

Related articles

UK money

The Most-Fined Big 4 Firm in the UK is Raising Audit Fees, Knows Clients Will Complain About It

Bloomberg reported today that KPMG UK CEO Jon Holt told them the firm plans to raise audit fees, news that comes on the same day we find out KPMG UK revenue increased 12% to £2.72 billion ($3.3 billion) for their fiscal year ending in September. Much of that did not come from audit however, deal […]

candles

An Audit Associate at KPMG’s NYC Office Has Died

Ed. note: an earlier version of this article used male pronouns based on the information available at the time. We have been informed the associate was female, confirmed this information with the NYPD, and have updated pronouns in this article. We have also removed a link to a dubious outside source. I debated even posting […]