This marks the third consecutive year the Big Four firm has taken such action, citing “uncertain and evolving market conditions”.

Undergraduate and specialist master’s students anticipating to commence their roles in the coming months have been informed that their employment will now begin “no sooner than March 2026”. This decision reflects a broader slowdown in the mergers and acquisitions market, which has impacted the deal advisory businesses of major accounting and consulting firms. Furthermore, general economic uncertainty has led to lower attrition rates, meaning fewer existing employees are departing.

While other major firms reportedly pushed back start dates in 2023 during a significant market downturn, Namaan Mian, chief operating officer of recruitment coaching firm Management Consulted, indicated that EY is currently unique among the Big Four in continuing this practice.

Mr Mian suggested that “other firms tell me that hiring plans are moving forward at ‘full speed ahead’”, contrasting with EY Parthenon’s approach, which he attributed to an excess of consultants and a shortage of projects. “EY would just be paying these kids to sit on the bench”, he stated.

In communication with its 2025 recruits, EY acknowledged that the March 2026 start date remains “subject to change – in either direction – as conditions develop”. To manage its current staffing levels, EY is offering new hires the option to defer their start to the latter half of next year in exchange for a $10,000 (c. £7,520) lump sum. Alternatively, recruits can choose to leave the firm and retain their signing-on bonus.

This news has been met with dismay by some affected graduates. One individual, who had declined an offer from a major technology company to join EY Parthenon, described the $10,000 compensation for a year’s delay as “disrespectful”. They also criticised the timing of the announcement, which arrived just two days after their graduation ceremony. “I walked the stage on Saturday and got that email on Monday,” the graduate said. “They literally open the email by saying congratulations on your recent graduation, and then go on to say, ‘oh, by the way, we’re pushing back your start date’”.

EY told the Financial Times that it had provided “a small number of incoming hires updated guidance and options regarding their start dates… after careful consideration of the current economic environment”. The firm added: “Our open and ongoing communications with this group includes providing them with a start date range to ensure the quality and breadth of assignments, and to establish a strong professional trajectory for our new joiners”.