My experience with PwC was generally bad. I've worked with auditors from Guernsey, London and Zurich and they all seem to have the same lackluster attitude. A friend of a friend used to be an audit manager with them in Guernsey and as a qualified accountant with a number of years audit and fund management experience behind him, he was only earning slightly more than me (I was totally unqualified, just with the right company...). The working conditions are generally accepted to be poor due to the hours and competitive nature of the job, not to mention the boredom. We also had their tax advisory people in at one of the first places I worked to assist the in-house lawyers and accountants with a reasonably complicated tax structure composed of a series of blocker corporations. They made no changes to the structure itself, merely the aesthetics of it, such as a few names of the corporations and then even colours on the presentation to be presented to our client. That cost thousands with no actual real input. They didn't even really comment on the structure itself. KPMG on the other hand; brilliant. There's still the boredom, especially in the lower echelons, but pay is far more performance based and your career track is based far more on your performance and qualifications rather than how long you've been there and how much corporate dick you can suck. I get your point, however I suppose it's all relative. If, for example, you wanted to teach RS or philosophy or something like that, then you'd need the degree. Also, whereas you and I perhaps wouldn't place that much importance on such degrees in context with the working world and career progression, some people may be able to justify it to themselves purely due to the interest they have in a given subject. I'd love to study RS to be honest...