Big Four firms cancel students’ internships but give them guaranteed jobs instead

Away from the stories of the apocalyptic grad job market, over in the land of dress-down Fridays, things are looking a bit more rosy. Big Four firms might be cancelled their prestigious summer internships, but they’re making up for it with guaranteed job offers.

Consulting giant PwC has offered automatic places on next year’s grad scheme to all 400 participants on its now-cancelled summer internship scheme.

Around one in six of the UK’s top grad employers have cancelled summer internships, according to research by High Fliers. But if you’ve had an internship cancelled at one of these huge companies, it might actually turn out pretty well for you.

Elsewhere in the big four, KPMG cancelled all its summer internships, but gave some of those students places on next year’s graduate intake, reports the FT. However, the company did not tell The Tab what proportion of students were being offered automatic jobs.

Deloitte has cancelled its summer internships, but is running a virtual scheme and giving participants £500.

A Deloitte spokesperson told The Tab: “In light of the ongoing COVID-19 situation we invited students who were due to take part in the firm’s Summer Vacation Scheme to take part in a voluntary four-week virtual mentorship programme instead.

“Undergraduate students will be given a mentor throughout the programme and the opportunity to work alongside Deloitte employees, develop their skills and learn more about a career at Deloitte.”

A PwC spokesperson told Financial News: “This means these students will enter their final year of university knowing that they have a permanent job at the end of their studies, in what could be a challenging environment for new graduates.”

Related stories recommended by this writer:

• We asked the top 50 graduate employers if they’re still hiring

• Graduates will be some of the worst-hit by the crisis, warns economist

• Lost grad jobs and panic Masters: We spoke to final years graduating with nowhere to go