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PwC, a leading global consultancy firm, intends to expand its graduate recruitment in the coming year, according to Marco Amitrano, the head of its UK operations. Contrary to some speculation, Amitrano emphasized that the reduction in graduate roles last year was a response to economic challenges rather than advances in artificial intelligence (AI). He highlighted that new hires have consistently shown enthusiasm and a strong desire to pursue their careers within the company.
Amitrano further addressed concerns about younger workers, who have faced the brunt of recent unemployment pressures, prompting debates about the value of university degrees. Defending the importance of higher education, he noted that university provides vital life skills beyond academic achievements. He disputed the stereotype that today’s younger generation is less resilient or reluctant to engage fully in the workplace. In his experience, new recruits are keen to spend as much time as possible in the office or client-facing roles, driven by a clear motivation to learn and advance professionally.
During a detailed BBC Big Boss Interview podcast, Amitrano also discussed broader economic factors affecting business confidence. He pointed to recent geopolitical tensions, such as the conflict involving the US, Israel, and Iran, as well as government policies including increased National Insurance contributions, higher minimum wages, and expanded employment rights, which have collectively dampened business willingness to hire and invest. However, he noted positive developments with an improving dialogue between government and business over the past year.
Amitrano advocated for a more flexible fiscal approach in the face of rising energy costs and inflationary pressures. He encouraged Chancellor Rachel Reeves to consider easing strict borrowing limits to support greater investment in technology, talent, and infrastructure. He believes such spending could stimulate overseas investment and sustain economic growth but stressed that any changes should be made transparently to avoid market disruption. The Treasury responded by reaffirming its current economic strategy, emphasizing that borrowing is already declining under fiscal rules established two years ago to ensure borrowing and debt reductions while maintaining investment for long-term growth.
Addressing the impact of AI on hiring, Amitrano acknowledged its growing role within PwC but maintained that economic conditions primarily influenced the recent slowdown in graduate recruitment—from 1,500 new roles to 1,300 last year. Looking ahead, he anticipates an increase in graduate intake as competition for job opportunities intensifies; PwC reportedly received around 60,000 applications for 2,000 entry-level positions, marking a 35% rise from the previous year. Despite challenges faced by graduates in securing employment, Amitrano remains a strong proponent of university education, citing personal experience and the broader benefits of university life, such as high-pressure learning, acquiring life skills, and independence. He remarked, “There is a debate about, is the piece of paper worth it? What’s not on a piece of paper might be worth it. And that’s what I’m looking for.
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