What's going on with the Big4 graduate jobs?

Ok, so it’s 1:07am in Sydney as I’m writing this, and I’m in a bit of an introspective mood.

The thing is that everything good that’s happened in my career has been because of the people around me. I landed my first job because someone introduced me to a recruiter at a consulting firm. I got my biggest raise because someone referred me for a role.

That’s one of the reasons I moved away from 1:1 coaching and leaned into building a community. The support, advice, and opportunities that come from having mentors and peers around you, it’s way more powerful than anything I could do alone.

Tonight as I read through the stories coming out of this community, My First Strayan Offer, I’m both extremely humbled and proud of where it’s headed.

So a big big big thanks for being a part of this journey. This wouldn’t have been possible without you.

And now, emotional drama aside, let’s get into the main crux of our newsletter.

Graduate hiring in the Big4 has dropped sharply over the last few years.

PwC has cut nearly 40% of its graduate roles.

EY reduced theirs by 27%.

Deloitte and KPMG by around 20%.

Ok so why is this happening?

Thank you, economy
High inflation, rising interest rates, and slower growth = companies spending less. Less spending means fewer consulting contracts from ASX 200 companies.

Thank you, PwC scandal
The Big 4 share a reputation. After PwC got caught sharing confidential government info in 2023, the whole industry faced more pressure and scrutiny. This meant losing government contracts not just for PwC, but for other Big4 firms. Those effects are still ongoing.

Thank you, freelancers and AI 
Instead of hiring full-time grads, the Big4 are using more freelancers for short-term work. Plus, a lot of junior-level tasks are now done by AI.

The glassy brochures and websites don’t show this, but youth unemployment is at 9%. There are fewer roles, and way more competition. So if you’re applying and not hearing back, maybe it’s not you, maybe it’s the market.

The one thing I preach more than anything else: the market is what it is… the economy is what it is… the hiring is what it is… there’s nothing you can do about it.

So just adapt and move forward as you otherwise would.

Just like every Indian kid, my parents wanted me to become a doctor. So naturally, I did finance, economics, theatre, consulting, project management, career coaching.….. basically everything but that. And honestly, I never felt bad about it until last week.

I stumbled upon a job ad for a General Practitioner in Julia Creek, Queensland. The offer? $680K a year, a free house, car allowance, and five weeks off.

The wild part about it is that no one wants this role.

Sure, it’s a dusty little town of 549 people, six hours from civilisation, with more cows than humans. But $680K to hand out Panadol and say “take two and call me tomorrow”? Easy! That’s the job I want. (joke guys joke!)

Btw, you better hide that job posting from your parents. They don’t need another reason to say “see? we told you so.”

You’re probably not earning $200k, maybe not even $150k or $100k. But that doesn’t necessarily mean you can’t buy a home.

I dug up some data and found 2 suburbs in every state where you can still get a place for under $500k.