18Jan

As we kick off the year 2024, companies are already gearing up for the recruitment of interns in 2025. Many accounting and finance companies have opened 2025 internship applications due to the extreme competitiveness over the past few years.

According to The Wall Street Journal, “Companies in finance and accounting are now recruiting for interns nearly 18 months before college students would be expected to start. The investment bank Guggenheim Securities and the Royal Bank of Canada, in addition to accounting stalwarts Grant Thornton and PricewaterhouseCoopers among others, started advertising for 2025 summer internships this fall. Many summer 2024 internship slots are already filled, several companies say.”

Securing Top-Tier Talent

This proactive approach and urgency in recruiting interns months in advance is not just about competitiveness or filling positions, it’s a strategic move to secure top-tier talent and ensure a seamless integration into company culture. The Wall Street Journal  also mentioned, “The advanced timeline means that college students who may have taken just one business class are trying to prove their mettle in competitive application processes that can launch careers after graduation…Many applicants for 2025 are sophomores striving for a coveted internship after their junior year. The stints often lead to a full-time job offer before their senior year, career coaches say.” This forward-thinking approach enables organizations to align the skills and aspirations of future interns with their business objectives, creating a foundation for mutual growth.

The Wall Street Journal also highlighted one student’s experience as he said, “To find out I had to apply so early was really, really crazy for me,” said Brayden Dam, a sophomore studying accounting at the University of Florida. Dam, 19 years old, learned of the early timeline from a college adviser when he was a freshman. This fall, Dam applied to a few 2025 internships with accounting firms in Tampa, Fla. He was told that those offices were full and that he should try Orlando or Miami. “I thought I was getting in early,” he said. “But apparently I was even later than some people that had already filled up the slots.”

Compensating for the Dwindling Number of Accounting Majors

In recent years, there has been a noticeable decline in the number of students pursuing an accounting major. This is another reason for the early deadlines.  According to The Wall Street Journal, “PwC and other companies say that the early deadlines help them scoop up talent that could go to competitors. PwC posted its summer 2025 internships for areas including tax and consulting in September, the earliest the firm has ever advertised internship positions, said Rod Adams, who leads hiring for the U.S. and Mexico. One key reason: PwC is trying to compete for top talent amid a dwindling number of accounting majors.”

Wrapped Up: 2021 Corporate Trends

With a hope of gauging some workplace trends this year, we started running polls on our LinkedIn page every few weeks. In 2021, we wanted to hear the thoughts of job seekers, fellow recruiters, and everyday employees. In addition to some serious topics, we also touched upon fun ideas and newly trending discussions. Thankfully, our incredible community did not disappoint. We received thousands of votes and comments that really opened our eyes to some interesting insight.

To wrap up the year, we’ve summarized some of our favorite polls and their results. The new year is around the corner and we hope to keep this line of communication open. Now more than ever, corporate trends are constantly evolving. We will always want to hear your views and opinions!

  • Are cover letters necessary? Most voters said otherwise. In fact, many believed that all necessary skills and experience are already outlined in the resume, negating the need for a cover letter. Additionally, recruiters and hiring managers seldom have time to read cover letters. Not requiring one will also lead to a larger candidate pool, as many job seekers are not willing to write one.
  • Would you participate in a stay interview? We had recently shared a blog post regarding stay interviews, a popular trend since the start of the Great Resignation. While the majority of people voted yes, they would participate, the comments said otherwise. Many claimed that stay interviews might reflect a “too little, too late” narrative from employees. Others felt that while stay interviews could be beneficial, managers and companies must also be willing to take action regarding the feedback.
  • Is a 40 hour work week too much? The pandemic and work from home culture has altered corporate life in several ways. A large consensus is that the traditional 40 hour work week has become unnecessary. The majority of jobs don’t require that many hours to thoroughly complete the work. Alternately, industries such as finance and banking consider 40 hours a luxury. Many commenters agreed that work hours should be variable; however long it takes to get everything done is how long an employee should work.
  • Do you take fewer sick days while working from home? Most people said yes, they definitely take fewer sick days while working from home. Eliminating the commute and the ability to work in a comfortable environment has workers more apt to save their sick days. There was almost no debate on this one; even if they’re actually sick, many people are still logging on to work. If you want to read more about workplace culture following the pandemic, check out our post here!
  • Should you apply for a job even if you don’t meet the minimum qualifications listed in the description? Generally, many believe that if you have 70% of the required skills and experience, you should apply. Hiring managers might have different priorities than what was listed in the job description. Sending along your resume can’t hurt, especially if you’re confident in your candidacy. Also, years of experience don’t always match the skill set of a candidate. Strong applications and interviews speak volumes.

We thank everyone who participated in our polls this year and look forward to 2022. Let’s keep these discussions and trends coming! In the meantime, if you are interested in talking to one of our talented recruiters, connect with us on LinkedIn or check out our Jobs Board today! See you in the new year!