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PwC Leads the Big Four in Narrowing the Gender Pay Gap

New workforce data shows that PricewaterhouseCoopers (PwC) currently has the smallest gender pay gap among the Big Four, outperforming peers Deloitte, EY, and KPMG in recent reporting. The latest figures show PwC’s median total remuneration gap fell to roughly 2%, down from about 7.3% the previous year, representing the most significant improvement among the four firms.

The data, compiled by Australia’s Workplace Gender Equality Agency (WGEA), shows that all Big Four firms except Deloitte made progress in narrowing pay differences between male and female employees in the latest reporting period.

What the Data Shows

Why it matters: The Big Four’s gender pay gap numbers are increasingly becoming a recruiting and reputation metric, not just an HR statistic. Firms that demonstrate measurable progress, like PwC this year, may gain an edge in the competition for the next generation of accountants, consultants, and deal advisors.

Goldman Sachs Exec Departs for Deutsche Bank

A senior executive at Goldman Sachs $GS ( ▲ 0.33% ) has left the firm after roughly two decades to join Deutsche Bank, highlighting the continued competition among global banks for experienced leadership talent. Oliver Patterson, who most recently led Goldman’s UK private wealth management business, has been hired by Deutsche Bank $DB ( ▼ 2.33% ) as a managing director within its private banking division.

During his time at Goldman Sachs, Patterson worked closely with high-net-worth and ultra-wealthy clients, helping expand the firm’s wealth platform in the United Kingdom. His departure comes as Deutsche Bank continues investing heavily in its global wealth management franchise, which the bank sees as a stable and profitable business line compared with the cyclical nature of investment banking revenues.

The move reflects a broader trend across Wall Street and European banks: firms are increasingly strengthening wealth management and private banking operations as part of long-term diversification strategies. In recent years, wealth management has become a key growth engine for banks seeking recurring fee income, especially during periods when mergers, acquisitions, and IPO activity slow.

Student Takeaway: For students interested in investment banking, this story highlights how careers on Wall Street increasingly intersect with wealth management and private banking. Many senior bankers build long-term client relationships that span advisory work, asset management, and personal wealth services. Understanding how banks integrate these divisions can provide a clearer picture of how financial institutions generate revenue, and where career opportunities may grow in the future.

Definition: Amortization is an accounting method used to gradually reduce the value of an intangible asset over its useful life. Instead of recording the entire cost of the asset at once, the expense is spread out over multiple accounting periods.

This helps match the cost of the asset with the revenue it helps generate. Amortization is similar to depreciation, but depreciation applies to tangible assets like equipment, while amortization applies to intangible assets like patents or trademarks.

If a company purchases a patent for $50,000 that will last 10 years, it would amortize $5,000 per year. Each year, the company records a $5,000 amortization expense on its income statement, gradually reducing the value of the patent on the balance sheet.

Mistake: Not asking thoughtful questions

Many candidates focus so much on answering questions that they forget interviews are a two-way conversation. Ending with no questions, or only generic ones like “What’s the culture like?”, signals a lack of preparation. Strong candidates use this time to demonstrate genuine interest and knowledge of the firm.

Always prepare 2–3 thoughtful questions in advance, tailored to the role and firm. For example: “How does the firm’s recent expansion into Asia affect opportunities for junior bankers?” or “What skills do top first-year analysts develop quickly that set them apart?” This shows initiative, curiosity, and professionalism.

Everyone, and I mean everyone, thats interested in finance or accounting wants an internship. However, now they are harder to get than ever. The problem lies in realizing you need and internship and applying too late. If you think you can still internship for summer 2026, think again. If anything, now is the time to apply for summer 2027 (you might even be late for that). I’m sure many of you already know this, or are completely new to this. But regardless, its important to understand when to apply to internships to ensure that you don’t miss your chance.

It is also just as important to understand that internship application timelines differ and are subjective to two main things: your class and the company/bank/firm. If you’re a freshman, trust me I’m going through this right now, its nearly impossible to get an internship without any referrals or connections. Companies want upperclassmen because they typically have taken high level coursework. So, make sure you’re applying early to 2027 and maybe even 2028 internships if you aren’t already.

Student takeaway: Applying early to internships ensures that you don’t miss out on them, but it also looks better in general. You’re much more likely to get an interview if you submit your application early rather than last minute.

I apologize for the late, and short, issue this week. This week has been extremely busy since it was the week before our spring break, I’m currently writing this in the airport while I have some down time since my flight was delayed by 6 hours.

Since my spring break is here, It reminded me of something that I think a lot of people, especially in the finance and accounting industry, forget about. It’s important to rest your body and mind often. Its so easy to get caught up in recruiting, internships, classes, extracurriculars, and networking that we forget to take care of ourselves mentally. School and work should come second to your mental health. Obviously thats much easier said than done, but its something I would recommend you keep in mind.

Invest in yourself.

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My name is Braunsen Bax, I’m a honors finance and accounting student-athlete at North Central College in Naperville, Illinois (45 mins outside of Chicago). I graduated from Walton High School in Marietta Georgia. Outside of the classroom I compete in the throws events for the Track & Field team, 35 time NCAA DIII national champions. I’ve had a love of finance and the business world since my sophomore year of high school and started Campus Capital to share that love with my community and like minded individuals in a similar position, with similar goals. My mission is to help people like me shape their futures to ensure they reach their goals while being up to date and educated in the Finance industry.