As a passionate advocate for fair labor practices, the recent unpaid internship scandal at KPMG has been weighing heavily on my mind. It’s not difficult to imagine the excitement and anticipation college students feel when applying for an internship at a prestigious company like KPMG. However, the glamour of the name often overshadows the reality of the situation for students who may find that their internship experience is, in fact, not as lucrative or rewarding as they had hoped. In this article, I’ll be exploring the compensation practices for KPMG interns and whether or not these practices align with fair labor standards. Is it truly an opportunity for valuable work experience, or a way for corporations to cut back on costs and exploit young professionals? Let’s find out.
Do KPMG interns get paid?
Overall, KPMG values their interns and recognizes the important work that they do for the company. Providing fair compensation for interns is a key aspect of a successful internship program, and KPMG is committed to ensuring that their interns receive competitive pay for their efforts.
???? Pro Tips:
1. Research the Internship Program – Take the time to thoroughly research the KPMG internship program before applying. This is to ensure you understand the program details, including compensation.
2. Contact HR Representatives – Reach out to KPMG HR representatives to obtain confirmation about whether their interns are paid or unpaid. This will allow you to make informed decisions about accepting an offer.
3. Attend an Information Session – Attend an information session hosted by KPMG. This is an opportunity to ask questions and get clarification on any concerns you may have about the program, including compensation.
4. Consider the Benefits Beyond Pay – While compensation may be a deciding factor for some applicants, other benefits such as networking opportunities, skill development, and mentorship are equally important.
5. Ask Former Interns – Connect with past KPMG interns online or in-person to learn about their experiences with the program and whether they were paid or not. This information can be valuable in helping you make an informed decision.
KPMG Internship Program Overview
KPMG is considered as one of the Big Four auditors, along with Deloitte, Ernst & Young, and PwC. In 2020, KPMG was ranked as the fourth largest professional services network around the world, with almost 220,000 employees in 147 countries. They offer a variety of internships across their departments, including tax, audit, advisory, and more. The KPMG internship program is a great opportunity for college students to learn about the company, earn relevant job experience, and network with professionals in their field.
Compensation for KPMG Interns
According to data gathered from past and current job ads on Indeed, and other sources, KPMG Tax Intern Hourly Pay for tax professionals in the United States is approximately $29.41 that is 46% higher than the average for all of America. It’s important to note that compensation will vary based on job performance and the intern’s overall experience. KPMG interns also receive various benefits such as healthcare, paid time off, and other company perks.
Comparing KPMG Intern Pay to Industry Standards
KPMG’s internship pay is competitive compared to other firms in the industry. According to Glassdoor, the average hourly wage for an audit intern at PwC is $24/hr while Deloitte pays around $25/hr. Ernst & Young, on the other hand, pays their interns around $27/hr. The hourly pay for KPMG interns is comparable to the industry standards, but the compensation can vary based on location and job position.
Factors that Affect KPMG Intern Pay
Many factors can influence the pay an intern may receive at KPMG. One such factor is the intern’s skill set, educational background, and experience. Additionally, the type of work the intern is doing, their performance, and the location of the internship can all affect pay. Internships in larger cities with higher living expenses may offer higher pay rates to help offset the cost of living. KPMG appreciates interns that show strong work ethics, enthusiasm, and adaptability, and interns with these qualities are often considered for higher salaries and future full-time employment opportunities.
KPMG Tax Internship Requirements
To apply for a KPMG tax internship, students must meet the following requirements:
How to Apply for a KPMG Internship
The application process for KPMG internships differs based on the department and the location. For example, to apply for an audit internship, the candidate must go through a four-phase process that includes an application form, an online exam, an in-person or virtual interview, and an office visit. On the other hand, applying for a tax internship involves applying online, submitting a cover letter and resume, participating in an online assessment, and attending an in-person or virtual interview. Applicants are encouraged to research the available positions and compare them to their qualifications and interests before applying.
Advantages of Being a KPMG Intern
KPMG offers a range of benefits to interns such as:
Potential Career Opportunities After a KPMG Internship
KPMG interns who display strong work ethics, relevant skills, and positive attitudes may be offered full-time employment opportunities upon graduation. The company offers a range of job opportunities across various departments and locations. KPMG provides career development programs to help their employees advance their skills and grow their careers. Interns who complete their internships with KPMG may have a clear pathway towards a fulfilling and successful career in their field.
