Ernst & Young LLP plans to make roughly 10,600 hires in the U.S. during fiscal year 2014, the company told eFinancialCareers. The Big Four accounting firm is looking to recruit 6,300 students while making 4,300 experienced hires during the fiscal year, which began in July.
The anticipated hires would mark a 3% increase from 2013, when Ernst & Young LLP added roughly 10,000 new employees – approximately 4,100 of whom were experienced hires. EY is active overseas as well. The firm plans to make 3,700 hires in the U.K. over the next year, with the jobs being distributed across its assurance, tax, advisory and transactions units.
In terms of U.S. hiring, Ernst & Young LLP relies heavily on its employee referral program. In fiscal year 2013, roughly 46% of experienced hires came from referrals, up from 28% in 2010. Only 21% of experienced hires came from job boards (14%) and search firms (7%) last year. Instead, the company does much of the heavy lifting on its own. Ernst & Young LLP has more than doubled its internal talent acquisition team in recent years.
There are plenty of reasons for current employees to pass along resumes of their friends and former colleagues. Ernst & Young LLP paid nearly $5 million in bonuses in FY13 to employees who referred candidates hired in the U.S. Bonuses can total up to $10,000 based on the rank of both the hire and professional making the referral.
So, if you’re looking to get hired, your best bet is to tap into your personal and professional network. Check out our previous post for other tips from Ernst & Young’s recruiting team.