davide470:

lool

funkystanl:

Well I think masonkz had said it... However, I have seeing people change units after a while (6months to 1 year) in a unit. This depends on some factors anyway (you must have good appraisal in your current unit and the unit you are moving to must have capability to accommodate you).
Besides that, I know on the day of posting (you guys to different units)...you are allowed to swap units (i.e someone posted to TRS and wants to be in Assurance can swap with someone posted to Assurance and wants to be in TRS).
Cheers!

masonkz:

I'm not certain about the possibility of switching. You've all sent in where you'll like to be in, and the units would be filled based on that. But then if a unit would still need people, then the possibility of having someone else would be in place. So you can still let them know when you resume.
Goodluck.

Thumbs up! Masonkz and Funkystanl... I really appreciate your awesome responses. But I have one more question if you dont mind and the opinion of you both would be prized. For someone wishing to major much later in Finance and Investment, which is best? Assurance, Advisory or Tax? I have a strong feeling that Tax wouldn't. Yet, how would you advise?

Encyclopedicon:

Lols, O ga wc way now. This one wey u just dy impact pple thru dz ur ministry I hope u aint plannig 2 send PwC a regret mail to pick up a missionary enrollment form.

PwC na my ministry - Praise and Wonder Church. Hope ur tithing ministry is loading...

.

ednut1:
u sent me a pm previously responded bt no reply, searched u on fb lol

Badddesttt!!!! I go report you to Walter Carrington

ControlX:

Thumbs up! Masonkz and Funkystanl... I really appreciate your awesome responses. But I have one more question if you dont mind and the opinion of you both would be prized. For someone wishing to major much later in Finance and Investment, which is best? Assurance, Advisory or Tax? I have a strong feeling that Tax wouldn't. Yet, how would you advise?

Advisory...I think Capital Projects and Investment Unit (not sure of the unit name in advisory anyway). But you can take off from assurance and cross over to advisory later on.

ControlX:

Thumbs up! Masonkz and Funkystanl... I really appreciate your awesome responses. But I have one more question if you dont mind and the opinion of you both would be prized. For someone wishing to major much later in Finance and Investment, which is best? Assurance, Advisory or Tax? I have a strong feeling that Tax wouldn't. Yet, how would you advise?

Like Funky said, someone wishing to go into Investment banking later on would surely wanna kick off with the Advisory unit.

The Assurance Line of Service would see you going into the Financial Control unit or Internal Control later on, and there's a difference between core investment banking and financial control. The latter would take in the more nitty gritty of Accounting.

davide470:

lol. u dis man

ControlX:

Thumbs up! Masonkz and Funkystanl... I really appreciate your awesome responses. But I have one more question if you dont mind and the opinion of you both would be prized. For someone wishing to major much later in Finance and Investment, which is best? Assurance, Advisory or Tax? I have a strong feeling that Tax wouldn't. Yet, how would you advise?

Advisory sure pass for any investment career na

Im so grateful Masonkz and Funkystanl. I have always had this feeling that Advisory would be it. But they didnt give us that option this year. Thanks a lot all the same. [Smiles]


Marvy, I sight you oo... . Thank you for your contribution. Hope you re enjoying your M. Cheers!


Cc MarvellousGod

Trainee associates, your EGAs are waiting for you. Make una do quick resume

wreater:
Pls send it 2 me too
ritapreboye@yahoo.com
Thanks

Hey

E no too far..
What LOS are you in?

Rexphobia:
Trainee associates, your EGAs are waiting for you. Make una do quick resume

TheRealAdonye:
E no too far..
What LOS are you in?

Assurance FSI

No vex.. u guys should write the fullnames of all these things for us na.. mk we try flow with una.. EGA, FSI, LOS etc

EGA: Evidence Gathering Activity
FSI: Financial Services Dept
LOS: Line of Service

I think

MacMaster01:
No vex.. u guys should write the fullnames of all these things for us na.. mk we try flow with una.. EGA, FSI, LOS etc

TheRealAdonye:
EGA: Evidence Gathering Activity
FSI: Financial Services Dept
LOS: Line of Service

I think

Lol thanks, so there's an activity where we'll be gathering evidence. .

I'be heard so much as to not envy you..
Please ehn, Those things, are they true?

Rexphobia:


Assurance FSI

.

TheRealAdonye:
I'be heard so much as to not envy you..
Please ehn, Those things, are they true?

It depends... I can only say the unit is for the brave

TheRealAdonye:
I'be heard so much as to not envy you..
Please ehn, Those things, are they true?

Sincerely I don't see the hype with FSI. FSI has it's less busy period also. Just that the first few months in the year can be tough (January to April for most), especially when you're on a bank audit.

Besides I personally think FSI people get to garner more experience in a short while than say, people in CIPS or Energy. This is my opinion though.

TheRealAdonye:
EGA: Evidence Gathering Activity
FSI: Financial Services Dept
LOS: Line of Service

I think

@bolded, does the 'I' stand for 'Dept'? Lol

prelinctus:

@bolded, does the 'I' stand for 'Dept'? Lol

Financial Services Industry. More known in PwC as FSIP (Financial Services Industry Practice)

Will they allow us to register for November diet ICAN exam?

..cc funkystanyl, achmed1, masonkz

Princess042:
Will they allow register for November diet ICAN exam?

..cc funkystanyl, achmed1, masonkz

No exams for u until after one yr of entry..

achmed1:

No exams for u until after one yr of entry..

That's till next year October. Thanks... Also, Thanks for the materials(PWC GUY ) and the words of encouragement.. I really can't thank you enough cos the materials really helped.

For those wanting to know more about the available departments, got this from my little research (statements on NL). It is a long read (30 questions with Answers, will break it down) Hope it helps..

1) Promotion in PwC is relatively faster. Moving from the first level Associate to the third level will take you a year and half if you perform VERY well. I believe KPMG takes a longer time.
2) Further more if u're not qualified @ KPMG u can only sit for ICAN while @ PwC u have d liberty of sitting for either ICAN or ACCA.
3) If you are in FSIP unit then forget about work-life balance in PwC because there are times you might be required to work overnight.
4) If you are in other Assurance units e.g CIPS, ENERGY etc then this might be a bit better. ENERGY is a better unit in my opinion.
5) If you happen to be in their TAX unit then you can have the much desired work/life balance. And you get paid more than those in Assurance (FSIP, ENERGY, CIPS etc). What you need to know is that FSIP is the unit that handles all Financial Services audit e.g Bank jobs, Insurance companies etc it is usually called FSI which may mean Financial Services Industries.
CIPS which is an acronym for Consumer Industrial Products and Services is the unit which handles the audit requirements of all consumer goods industry. Broadly speaking, they handle all FMCG companies to include Telecoms and Manufacturing companies.
ENERGY unit like the name implies handles the audit of Oil and Gas companies. It's name is derived from the kind of audit they are involved in.
6) If you choose PwC please I beg you in the name of God, try and lobby your way out of FSIP if you eventually get sent there. The fear of FSIP is the beginning of wisdom.
QUESTIONS and ANSWERS
1) Why is the pay in Tax more than assurance and by what margin?
PwC is a professional firm that sells a particular professional service. It's greatest asset is it's staff. Remuneration and promotion is greatly skewed towards the contribution of each member staff towards overall revenue and growth of the firm.
Those in the TAX unit earn more for the firm in terms of their charge-out rates and as a result they are paid more than those in Assurance (Audit).
In 2012 a first level assistant consultant in TAX has a charge-out rate of NGN9,600 (about USD 60)per hour, while a first level Assurance associate had a charge-out rate of just NGN8,000 (about USD 50)per hour.
So you can see that those in TAX bring in more money per hour of service rendered than those in Assurance. The charge-out rate is the amount charged to a client by each client facing staff.
The margin for first level Associate and a first level TAX consultant is in the region of about NGN 20,000 to NGN 50,000. There is also difference in salaries based on other factors like whether one is chartered or not but the salary differential based on this criterion is not too significant.
2) Can you kindly list the units in Assurance dept?
1) ENERGY (2) CIPS - This unit has two components (3) FSIP (4) PSG - This unit was carved out from CIPS (5) SPA - This unit has been broken down to various units but on the whole they are in charge of the firm's IT audit.
3)And what is the basis of allocation into those depts after training school?
The basis is largely confidential and is done by HC (Human Capital); but we cannot rule out lobbying. Generally if you have a relative already in a unit, the firm's policy does not permit you to be in the same unit with your relative.
4) read online that management consulting unit (strategy ) under advisory is the best unit in pwc because you get intensive intellectual development, exposure to multiple and varied clients, training opportunities and opportunities to travel.I also heard it is one of the most difficult units to enter into.Does anybody have an opinion on this?
Definitely not PwC Nigeria!!!
If you want a career in advisory then the choices should be:
First choice: Accenture
Second choice: KPMG
Third choice: Maybe PwC

5) What are the various units under PWC Advisory and what is the criteria for placement into respective departments ?
PwC advisory dabble into a whole lot of things and the various units are carved out based on the nature of the Advisory services they render.

Before now the Advisory unit was just one big family under the name: Performance Improvement (or PI for short) but since it's rebranding the unit has undergone a number of changes and innovation hence the split into various units.
The units I can give for now are: Performance Improvement and Risk management. Though there are other units whose functions vary from Strategy, Forensic audits to Business Recovery services.
6) In your view what is the best unit in PWC ? ( FSIP, ENERGY or CSIP )
In my view the best unit as per the category you have given i.e Assurance units e.g FSI, ENERGY etc would be ENERGY, closely followed by SPA before CIPS. But if your question has to do with the best unit overall, then my answer would be TAX for the following reasons:
a) Work-life balance.
b) Higher pay.
c) Less witch hunters
7) What are the things I can do during the Induction training program to land myself in a good unit and escape a bad unit ? (I did my service in a bank and I don't want to have anything to do with a bank in my life.)
The truth is that in PwC a bad unit depends greatly on individual perspective. The unit I mentioned (FSIP) is 'bad' in my view for a number of reasons e.g The leadership is not smiling, crazy deadlines, work-life balance for peak periods is non-existent etc but this does not mean that people in that unit are necessarily not progressing despite what they face.
In PwC, HC (Human Capital) is in charge of allocating staff to the various units based on need, expertise and some other criteria. A staff can lobby to be out of a particular unit if he or she has a good reason not to be in that unit. PwC Human Capital are responsive to staff needs.
Given that you have a background in the banking sector, you are most likely to end up in FSIP because you already know the terrain but this is not cast in stone. You can still find yourself in some other unit as well.
I will advice that you let HC know your grouse against the banking sector on time and please give them plausible reasons why you can't go back to the banking sector. If your reasons are okay, then you might just find yourself in some other unit.
Do people in Advisory also travel and do they have opportunities for training ?
Every Staff of PwC is exposed to the training program at various levels of development. Personal trainings via CBTs are readily available to every member of staff and classroom trainings are also done at various times. Training is something no one would lack in PwC.
Like I said before the greatest asset of PwC is their staff and they go to great lengths to ensure that ALL their staff get the very best, top of the shelf, trainings. So your answer is: YES, Advisory staff are properly trained and get to travel too.
9) Hi calculus, thanks so much for the in depth enlightenment regardn pwc. Buh I hrd from a source dt pwc signs an agreement wiv her clients not to employ any associate workn under d pwc umbrella in any of d clients firms. Thus, makn it difficult 2move out of pwc unlike kpmg dt gives room for opportunities abound regardn associates bn employed by its clients. Pls cld u shed more light on dis? Thanks in antoicipation
Quite true for those auditing some oil companies like Exxon mobil but this is not true for other staff members who happen to be in some other units.
Even when one is in ENERGY where the individual might be exposed to the audit of companies like Exxon, the individual can still be employed by other companies like Shell where this restriction is non-existent.
10) So starting salary is 165 right? (does this amount apply to both chartered and non chartered? ) Does it increase after 6 months probation? And to what amount?
* Starting salary is between 165k and 180k but it's safe to stick to 165k.
* There is salary differentials in PwC. The more value you add to the firm the more you are likely to get paid. Those who are chartered get more than their mates who are yet to be chartered but the salary differential with respect to this criterion is not material; say, between 5k to 15k.
* Your salary increases at every stage of your development. So, Yes, when you scale through the probation period (the first 6 months), your salary will increase to something between 175k to 195k.
11) I also heard that after a year from the first 6 months you'll get to A1 (Associate 1) and your pay will increase again, how much does it increase to?
You heard right! If you continue to perform very well, you should make the third level associate i.e Associate 1 (A1) in 1 year; starting from Associate 3 (A3). At A1, your salary should be between 185k and 205k.
12) How many years does it take one to move from associate to senior associate?
Movements/Promotions in PwC is relatively fair compared to some other organisations. Moving within a grade level e.g Associates (A3 to A1) or Senior Associates (SA3 to SA1) is termed movement as long as they are within the same grade. Movement from one grade to another e.g from Associate to Senior Associate i.e from A1 to SA3 is termed promotion.
Appraisals are done with respect to any job you spend at least 40 hours on, and the appraisal system is such that you will be graded from a scale of (1) to (5). If you are graded either (1) or (2), it means that you are doing exceedingly well or you are performing beyond expectation. If you are graded (3) it means you are performing as expected. But anything below (3) is not good i.e you are performing below expectation.
For someone who is consistently ranked between (1) and (2) all through, the individual is expected to become a senior associate in just one and a half years from the moment he steps into PwC. But if the individual is ranked between (2) and (3), the individual might spend about 2 years before becoming a Senior Associate. You do not get moved or promoted when you are ranked below (3).
In summary, it will take a year and half to become a senior associate if you perform above expectation, 2 years if you are performing as expected but no promotion or movement if you are performing below expectation.
13) What's the pay of a senior associate?
A first level Senior Associate (SA3) earns between 220k to 230k; a second level Senior Associate (SA2) earns between 260k and 275k while a third level Senior Associate (SA1) earns something in the region of 300k to 360k.
14) I heard that they never pay the performance bonus stated in our letters because departments never get to meet targets, is this true? Does the performance bonus increase as your level increases?
That is not true! Performance bonuses are paid at the discretion of the partners. Some Units meet their targets and get paid their bonuses but this bonus is NOT a 'Right'. If you get paid, then take it as 'other income'. Please don't plan your wedding based on this bonus otherwise you might get the shocker of a lifetime.
15) Do they give Christmas bonus?
NO!!!

16) When do we get due for leave for those of us starting in October and when do we get paid the leave bonus?
Your leave should come up anytime from July, 2014 and your bonus is paid when due. Human Capital (HC) will give directives to this effect. Usually you get paid your leave allowance towards the end of the month alongside your salary; but you must have commenced your leave and applied for the allowance at the exact time HC advised.
17) Do people wear natives on Fridays?
NO!!!
18) Are there strict colours that are to be worn at work?
YES!!! Mainly conservative colours that do not constitute what one would term: Colour riot. This is different for ladies.
19) Must guys put on a suit? If no can one just wear a shirt without a tie?
You can do without a Jacket but the suit pant is compulsory and you must wear a tie unless when you are at a client's site where 'dressing down' is the norm, then you can skip the tie but first get the permission of your Lead Senior.
20) What other benefits abound in pwc? I already know the HMO, any other staff benefits?
1) Staff car loan.
2) Training.
I will strongly advise that you do not apply for a car loan because HE WHO GOES BORROWING, GOES SORROWING WHEN PAYING BACK. If you must buy a car, please save to buy one.
21) Is there a particular tribe base in pwc (like diamond bank has more igbos? Wema bank yorubas and like that)?
Is there a staff bus?
NO! NO!! NO!!! NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!!!
22) So pls wot can one do to improve hs performance...
Wot r dose tins u do dat r extraordinaair... So u get the 1nd 2 scores??
In PwC the competencies for each level are clearly defined and made available to each member staff on the Performance, Coaching and Development (PC&,D) database.
Every staff is expected to have gone through this database with his or her coach and have Discussed and Agreed what the staff is expected to achieve for the period.
If a staff achieves all his performance goals with every passing job and demonstrates all competencies relevant for his level and in addition, demonstrates the compentencies for the next level while in his current level, then the staff is performing beyond expectation.
That is, if as an A3 you meet all your performance goals and competencies relevant for your level and in addition you demonstrate the competencies for the next level (A2) then you are performing beyond your level and should be taken to the next level.
Things to do: 1) Discuss with your coach. 2) Agree objectives with both your coach and your lead senior. 3) Make sure you and your coach (including your lead seniors are on the same page). 4) Do your work with a bid to meeting and surpassing your performance goals. 5) Make sure you ask questions if you do not understand the job. In PwC questions are encouraged. The slogan is: SHOUT WHENEVER YOU ARE IN DOUBT. 6) Do not become an Island. Your team mates are very important, so work as a team. 7) Always make sure your lead senior is aware of ALL that you do at every stage of the work. Even before you start a job, let him know your approach. 8.) If you are experiencing delays from the client, please let your lead senior know on time. Do not wait for the last minute. No one likes surprises in PwC. If you shock them at the last minute, they will shock you too when it's time to appraise your work. grin 9) Try and manage your lead senior, partners and your managers. 10) Know the managent style of your managers and how your lead seniors like to work. You can get necessary info from colleagues who have worked with such managers or seniors. 11) Always pray so that you don't fall into the hands of the ENEMY. Some Partners, Managers and seniors can really be a pain in da butt
23) Bro, can you shed more light on how PwC help in achieving one's professional certification(ICAN and ACCA).
E.g I'm in my professional level with 5 papers left, but I currently have an outstanding of £519. I need to offset that to kick back to the ACCA program. Will PwC help offset the debt and as well pay for remaining P-papers?
PwC Nigeria is a professional firm of auditors and part of the legal requirements for auditors is that they be affiliated to one or more professional accounting bodies and become a chartered member. This is one area of staff development PwC does not take lightly.
Every staff member is given the relevant support to become a certified chartered accountant, and matter of factly, one cannot become a manager in 'PwC' without being a chartered accountant.
To this extent, the firm helps her staff members pay the relevant tuition and fees. A staff member has the option of choosing either to become a certified chartered accountant of the ACCA or ICAN.
If a staff member decides to opt for ICAN, then his tuition and fees will be fully paid. But if, on the contrary, the member staff decides to opt for ACCA, the firm will only pay the tuition and fees to the extent that it will cover for the tuition and fees of the ICAN.
That is, if ICAN charge NGN 1,000 and ACCA is NGN 2,000, the firm will only pay NGN 1,000. The balance will be taken care of by the individual staff member. In other words, the standard tuition and fees the firm pays can only cover for ICAN, this excludes the cost of books. The firm provides books free to every staff.
Now, in your case since you are already indebted to the ACCA, you would have to take care of your bills in full and the firm will re-imburse you to the extent that the amount paid will cover for ICAN. In other words, PwC will help with a part while you take care of the rest. I will advice that you approach someone in HC preferably a manager and explain this, you might just be lucky.
24) How many days are set aside for study leave, and when are you expected to be certified in PwC?
In PwC every staff member is entitled to 7 weeks of study leave each financial year. Your leave is scheduled to suit your needs. If you choose to write 4 papers at a sitting, you would be entitled to 5 weeks of study leave. The remaining two weeks is a buffer, sought of, in case you do not make some papers.
If, for instance, you were successful on the first attempt, (assuming you wrote 4 papers) then you would have to forfeit the rest of your study leave till the next financial year because you have no paper to reseat. This can be a bit tricky actually. The schedule of exam leave is as follows:
1) For 4 papers you get 5 weeks.
2) For 3 papers you get 4 weeks.
3) For 2 papers you get 2 weeks.
4) For 1 paper you get 1 week.
Note that you cannot carry over a leave to the next financial year. If you use 4 weeks instead of your 5 weeks, you cannot carry the outstanding to the next financial year. Now if for instance you write 3 papers and get 4 weeks, and you are successful, you would have just one week outstanding to write just one more paper.
But if on the contrary you are not successful, you may have access to your buffer weeks i.e the extra two weeks. You do not get the buffer weeks unless you fail at least one paper and it also depends on the number of papers you are writing next. I hope I have not confused everyone. grin
Now this info is VERY IMPORTANT: In PwC there is really no expected time for one to be chartered but it is normal to get certified before you become a manager. YOU ARE NOT ALLOWED TO FAIL A PAPER FOR MORE THAN TWO TIMES. THE MAXIMUM NUMBER OF TIMES YOU CAN FAIL A PAPER IS TWO. IF YOU FAIL A PAPER 3 TIMES YOU WOULD BE ADVISED TO LEAVE THE FIRM. Take your exams seriously.
25) What's up with the N10,000 for physical examination in the offer letter. What is it for?
I don't know! It wasn't in my offer letter grin grin grin. I hope you guys were not asked to pay the money?
26) Please I will like you to also shed more light on PwC's SECONDMENT ABROAD & LOCALLY. Does everyone go for it? Who gets entitled to it? Must you be certified to be eligible for it? What's the trend like in secondment in PwC
PwC takes training and development VERY seriously. Secondment is greatly determined by staff level, availability and opportunities. If you want to be seconded to a member country, you would have to indicate interest to your coach and include it as part of your development plans for the year.
However, it is unlikely for Associates to get this opportunity because there are more senior staff who are waiting for such opportunities also. So if you want it, you would have to wait till you become a senior and pray that the opportunity comes knocking. A number of the firm's staff have been taken to countries like Canada, USA, England and some other countries to include African countries as part of their development.
Just do your job very well, be the best and pray that you get the opportunity when you eventually become a senior.
27)Assuming one happens to be a peak performer what is the shortest time it will take to move from A3 to the highest Senior Associate level ?
The shortest time it will take a peak performer, who brings a whole world of value to the firm, to become a partner would be, say, about 7 years. grin grin grin
That is an extraordinary case o! I want to believe you know Taiwo Oyedele. He came in to the firm in 2001 as a corps member and 7 years after NYSC he became a partner in TAX.
Now for the normal case where one is a peak performer, the shortest route would be:
A3 - 6 months
A2 - 6 months
A1 - 6 months
SA3 - 6 months
SA2 - 1 year
So in 3 years, a peak performer can make the highest level of Senior Associate but this is rare.
28) Does PWC pay out of state allowances to audit team members who are out of lagos on audit assignments ?
Yes they do! PwC pays in naira for any local out of state assignment and in dollars for any International assignment. I am not sure of the exact rates now but it is standardized.
29) @ calculus during what period does the appraisal take place? is it at the end of the year? quarterly? or bi annually? and will you know the score given by your mentor?
The appraisal is done bi-annually!!!
Your mentor is not expected to be part of the grading system except he or she happens to be your lead senior or manager. You get graded with respect to the job you do as long as you spend at least 40 hours on the job.
The PwC appraisal system involves at most 3 persons. You have the appraisee, the primary appraiser and the secondary appraiser.
You are the appraisee, your lead senior who happens to be on the field with you or some other senior assigned to you, is your primary appraiser while your manager is your secondary appraiser. Depending on your level, you may not need the input of the secondary appraiser.
The appraisal system usually starts with you. You are expected to initiate this on a timely basis or it will count against you because as a first level associate, this is one of the competencies you are supposed to demonstrate. After initiating the process, you get appraised by your primary appraiser and maybe your secondary appraiser.
The grade given to you e.g (1), (2)...(5) is made available to you before both of you Discuss and Agree the appraisal form. If there is no Discussion and Agreement, the appraisal form CANNOT be closed. Note that this process is done online with the exception of when you meet to discuss the grade given to you.
You can also challenge any bad grade with evidence of the work you did.
30) Pls kindly explain how the Out-of-station allowances work in PwC? I hope it is not treated as advances(short-term loan) for staff expenses which needs to be knocked off ur receipt for expenses and a remainder is returned to PwC. I hope it doesn't work like that Please I need explicit explanation on how this out-of-station works in PwC and if it is given irrespective of the state and client u re working on, because I know KPMG doesn't pay such. I worked in KPMG and they never pay such. So saddening!
In PwC there is a difference between out of station allowance and Cash advance or PCV as we call it.
Out of station allowances are moneys each staff member in a particular job is entitled to for going on a job outside one's area of employment e.g traveling outside Lagos, given that you were employed for the Lagos office.
On the other hand, cash advances or PCVs are moneys given to particular engagement teams on request which are meant to take care of allowable expenses incurred by the engagement team while on the field.
Whenever a team is sent out on an assignment outside your primary work area e.g outside Lagos, each team member is entitled to a minimum of NGN 500 for each night spent in that location (this is higher for international engagements). If the team spends, say, 20 nights in that location, then each team member is entitled to a minimum of NGN 10,000 each.
If on the other hand a team decides to collect PCV because they don't want to spend their money and get re-imbursed for the expenses incurred, then the team would have to apply for it subject to the approval of the 'team manager'.
Once granted, PCVs are expected to be retired as soon as the job is done. On retirement, all supporting documentation for the expenses incurred are expected to be attached to the retirement form.
If after a job, no retirement is done then the outstanding sum is deducted from the salary of the team member whose account was used to collect the PCV, though deductions are done in tranche.
Please note that out of station allowances can be paid from moneys advanced to the team.
Disclaimer: These are not my words and neither am i a staff of PwC, it is just a research i made and thought to share. All thanks to joboy834, Calculus12, chidike, onyijess, Naffysah, olabode89, Phonon, ify4charm etc MacMaster01, TheRealAdonye, Princess042 check it out

ControlX wassup, please e-mail me at kekeeuro@gmail.com

Princess042:


That's till next year October.
Thanks...
Also, Thanks for the materials(PWC GUY ) and the words of encouragement..
I really can't thank you enough cos the materials really helped.

pls u ppl shud 4wd d materials u used in preparing for the 2015 recruitment @princess, bleseenE, funkystanl, Ednut, 30watt & others.
@ednut, pls send me pm. I would like to rub mind wt u, tnx

blesseenE:

16) When do we get due for leave for those of us starting in October and when do we get paid the leave bonus?
Your leave should come up anytime from July, 2014 and your bonus is paid when due. Human Capital (HC) will give directives to this effect. Usually you get paid your leave allowance towards the end of the month alongside your salary; but you must have commenced your leave and applied for the allowance at the exact time HC advised.
17) Do people wear natives on Fridays?
NO!!!
18) Are there strict colours that are to be worn at work?
YES!!! Mainly conservative colours that do not constitute what one would term: Colour riot. This is different for ladies.
19) Must guys put on a suit? If no can one just wear a shirt without a tie?
You can do without a Jacket but the suit pant is compulsory and you must wear a tie unless when you are at a client's site where 'dressing down' is the norm, then you can skip the tie but first get the permission of your Lead Senior.
20) What other benefits abound in pwc? I already know the HMO, any other staff benefits?
1) Staff car loan.
2) Training.
I will strongly advise that you do not apply for a car loan because HE WHO GOES BORROWING, GOES SORROWING WHEN PAYING BACK. If you must buy a car, please save to buy one.
21) Is there a particular tribe base in pwc (like diamond bank has more igbos? Wema bank yorubas and like that)?
Is there a staff bus?
NO! NO!! NO!!! NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!!!
22) So pls wot can one do to improve hs performance...
Wot r dose tins u do dat r extraordinaair... So u get the 1nd 2 scores??
In PwC the competencies for each level are clearly defined and made available to each member staff on the Performance, Coaching and Development (PC&,D) database.
Every staff is expected to have gone through this database with his or her coach and have Discussed and Agreed what the staff is expected to achieve for the period.
If a staff achieves all his performance goals with every passing job and demonstrates all competencies relevant for his level and in addition, demonstrates the compentencies for the next level while in his current level, then the staff is performing beyond expectation.
That is, if as an A3 you meet all your performance goals and competencies relevant for your level and in addition you demonstrate the competencies for the next level (A2) then you are performing beyond your level and should be taken to the next level.
Things to do: 1) Discuss with your coach. 2) Agree objectives with both your coach and your lead senior. 3) Make sure you and your coach (including your lead seniors are on the same page). 4) Do your work with a bid to meeting and surpassing your performance goals. 5) Make sure you ask questions if you do not understand the job. In PwC questions are encouraged. The slogan is: SHOUT WHENEVER YOU ARE IN DOUBT. 6) Do not become an Island. Your team mates are very important, so work as a team. 7) Always make sure your lead senior is aware of ALL that you do at every stage of the work. Even before you start a job, let him know your approach. 8.) If you are experiencing delays from the client, please let your lead senior know on time. Do not wait for the last minute. No one likes surprises in PwC. If you shock them at the last minute, they will shock you too when it's time to appraise your work. grin 9) Try and manage your lead senior, partners and your managers. 10) Know the managent style of your managers and how your lead seniors like to work. You can get necessary info from colleagues who have worked with such managers or seniors. 11) Always pray so that you don't fall into the hands of the ENEMY. Some Partners, Managers and seniors can really be a pain in da butt
23) Bro, can you shed more light on how PwC help in achieving one's professional certification(ICAN and ACCA).
E.g I'm in my professional level with 5 papers left, but I currently have an outstanding of £519. I need to offset that to kick back to the ACCA program. Will PwC help offset the debt and as well pay for remaining P-papers?
PwC Nigeria is a professional firm of auditors and part of the legal requirements for auditors is that they be affiliated to one or more professional accounting bodies and become a chartered member. This is one area of staff development PwC does not take lightly.
Every staff member is given the relevant support to become a certified chartered accountant, and matter of factly, one cannot become a manager in 'PwC' without being a chartered accountant.
To this extent, the firm helps her staff members pay the relevant tuition and fees. A staff member has the option of choosing either to become a certified chartered accountant of the ACCA or ICAN.
If a staff member decides to opt for ICAN, then his tuition and fees will be fully paid. But if, on the contrary, the member staff decides to opt for ACCA, the firm will only pay the tuition and fees to the extent that it will cover for the tuition and fees of the ICAN.
That is, if ICAN charge NGN 1,000 and ACCA is NGN 2,000, the firm will only pay NGN 1,000. The balance will be taken care of by the individual staff member. In other words, the standard tuition and fees the firm pays can only cover for ICAN, this excludes the cost of books. The firm provides books free to every staff.
Now, in your case since you are already indebted to the ACCA, you would have to take care of your bills in full and the firm will re-imburse you to the extent that the amount paid will cover for ICAN. In other words, PwC will help with a part while you take care of the rest. I will advice that you approach someone in HC preferably a manager and explain this, you might just be lucky.
24) How many days are set aside for study leave, and when are you expected to be certified in PwC?
In PwC every staff member is entitled to 7 weeks of study leave each financial year. Your leave is scheduled to suit your needs. If you choose to write 4 papers at a sitting, you would be entitled to 5 weeks of study leave. The remaining two weeks is a buffer, sought of, in case you do not make some papers.
If, for instance, you were successful on the first attempt, (assuming you wrote 4 papers) then you would have to forfeit the rest of your study leave till the next financial year because you have no paper to reseat. This can be a bit tricky actually. The schedule of exam leave is as follows:
1) For 4 papers you get 5 weeks.
2) For 3 papers you get 4 weeks.
3) For 2 papers you get 2 weeks.
4) For 1 paper you get 1 week.
Note that you cannot carry over a leave to the next financial year. If you use 4 weeks instead of your 5 weeks, you cannot carry the outstanding to the next financial year. Now if for instance you write 3 papers and get 4 weeks, and you are successful, you would have just one week outstanding to write just one more paper.
But if on the contrary you are not successful, you may have access to your buffer weeks i.e the extra two weeks. You do not get the buffer weeks unless you fail at least one paper and it also depends on the number of papers you are writing next. I hope I have not confused everyone. grin
Now this info is VERY IMPORTANT: In PwC there is really no expected time for one to be chartered but it is normal to get certified before you become a manager. YOU ARE NOT ALLOWED TO FAIL A PAPER FOR MORE THAN TWO TIMES. THE MAXIMUM NUMBER OF TIMES YOU CAN FAIL A PAPER IS TWO. IF YOU FAIL A PAPER 3 TIMES YOU WOULD BE ADVISED TO LEAVE THE FIRM. Take your exams seriously.
25) What's up with the N10,000 for physical examination in the offer letter. What is it for?
I don't know! It wasn't in my offer letter grin grin grin. I hope you guys were not asked to pay the money?
26) Please I will like you to also shed more light on PwC's SECONDMENT ABROAD & LOCALLY. Does everyone go for it? Who gets entitled to it? Must you be certified to be eligible for it? What's the trend like in secondment in PwC
PwC takes training and development VERY seriously. Secondment is greatly determined by staff level, availability and opportunities. If you want to be seconded to a member country, you would have to indicate interest to your coach and include it as part of your development plans for the year.
However, it is unlikely for Associates to get this opportunity because there are more senior staff who are waiting for such opportunities also. So if you want it, you would have to wait till you become a senior and pray that the opportunity comes knocking. A number of the firm's staff have been taken to countries like Canada, USA, England and some other countries to include African countries as part of their development.
Just do your job very well, be the best and pray that you get the opportunity when you eventually become a senior.
27)Assuming one happens to be a peak performer what is the shortest time it will take to move from A3 to the highest Senior Associate level ?
The shortest time it will take a peak performer, who brings a whole world of value to the firm, to become a partner would be, say, about 7 years. grin grin grin
That is an extraordinary case o! I want to believe you know Taiwo Oyedele. He came in to the firm in 2001 as a corps member and 7 years after NYSC he became a partner in TAX.
Now for the normal case where one is a peak performer, the shortest route would be:
A3 - 6 months
A2 - 6 months
A1 - 6 months
SA3 - 6 months
SA2 - 1 year
So in 3 years, a peak performer can make the highest level of Senior Associate but this is rare.
28) Does PWC pay out of state allowances to audit team members who are out of lagos on audit assignments ?
Yes they do! PwC pays in naira for any local out of state assignment and in dollars for any International assignment. I am not sure of the exact rates now but it is standardized.
29) @ calculus during what period does the appraisal take place? is it at the end of the year? quarterly? or bi annually? and will you know the score given by your mentor?
The appraisal is done bi-annually!!!
Your mentor is not expected to be part of the grading system except he or she happens to be your lead senior or manager. You get graded with respect to the job you do as long as you spend at least 40 hours on the job.
The PwC appraisal system involves at most 3 persons. You have the appraisee, the primary appraiser and the secondary appraiser.
You are the appraisee, your lead senior who happens to be on the field with you or some other senior assigned to you, is your primary appraiser while your manager is your secondary appraiser. Depending on your level, you may not need the input of the secondary appraiser.
The appraisal system usually starts with you. You are expected to initiate this on a timely basis or it will count against you because as a first level associate, this is one of the competencies you are supposed to demonstrate. After initiating the process, you get appraised by your primary appraiser and maybe your secondary appraiser.
The grade given to you e.g (1), (2)...(5) is made available to you before both of you Discuss and Agree the appraisal form. If there is no Discussion and Agreement, the appraisal form CANNOT be closed. Note that this process is done online with the exception of when you meet to discuss the grade given to you.
You can also challenge any bad grade with evidence of the work you did.
30) Pls kindly explain how the Out-of-station allowances work in PwC? I hope it is not treated as advances(short-term loan) for staff expenses which needs to be knocked off ur receipt for expenses and a remainder is returned to PwC. I hope it doesn't work like that Please I need explicit explanation on how this out-of-station works in PwC and if it is given irrespective of the state and client u re working on, because I know KPMG doesn't pay such. I worked in KPMG and they never pay such. So saddening!
In PwC there is a difference between out of station allowance and Cash advance or PCV as we call it.
Out of station allowances are moneys each staff member in a particular job is entitled to for going on a job outside one's area of employment e.g traveling outside Lagos, given that you were employed for the Lagos office.
On the other hand, cash advances or PCVs are moneys given to particular engagement teams on request which are meant to take care of allowable expenses incurred by the engagement team while on the field.
Whenever a team is sent out on an assignment outside your primary work area e.g outside Lagos, each team member is entitled to a minimum of NGN 500 for each night spent in that location (this is higher for international engagements). If the team spends, say, 20 nights in that location, then each team member is entitled to a minimum of NGN 10,000 each.
If on the other hand a team decides to collect PCV because they don't want to spend their money and get re-imbursed for the expenses incurred, then the team would have to apply for it subject to the approval of the 'team manager'.
Once granted, PCVs are expected to be retired as soon as the job is done. On retirement, all supporting documentation for the expenses incurred are expected to be attached to the retirement form.
If after a job, no retirement is done then the outstanding sum is deducted from the salary of the team member whose account was used to collect the PCV, though deductions are done in tranche.
Please note that out of station allowances can be paid from moneys advanced to the team.
Disclaimer: These are not my words and neither am i a staff of PwC, it is just a research i made and thought to share. All thanks to joboy834, Calculus12, chidike, onyijess, Naffysah, olabode89, Phonon, ify4charm etc MacMaster01, TheRealAdonye, Princess042 check it out

interesting, Educative and informative. I MUST work harder next year

BlesseenE, Thank you! God bless our hustles!