Following the implementation of more stringent visa restrictions by the UK government, one of the Big Four corporations has begun to withhold job offers from foreign graduates.

The Financial Times reports that KPMG withdrew offers from prospective hires this week, blaming the government's new minimum wage criteria for a skilled worker visa in the UK.

It was announced earlier in the year that more stringent immigration regulations would be implemented. As a result, starting on April 4, the minimum wage requirements for those who receive skilled worker visas will increase from £26,200 to £38,700.

As outlined on the career website, Glassdoor, the average yearly salary for KPMG’s graduate trainee ranges between £29,000 to £35,000.

The graduate programme is a popular scheme for students, as KPMG hired 1,400 graduates and apprentices over the last year.

There has been no confirmed number of how many graduates had their offers revoked. The Financial Times stated that those students were told they would not be able to defer their places to 2025. However, they could request to transfer to a different graduate programme this year, but only if applications were still open on the firm’s website and if “the role is eligible for sponsorship”.

This move follows the news that the firm has become the first white-collar British business to employ former prisoners as part of the government’s new pilot programme.

The Big Four firm employed its first cohort of prison leavers in a range of different roles, including technology development through its New Futures pilot.

KPMG has a three-year strategy to “transform the firm for future growth”. Its UK profit before tax dropped nearly 20 per cent over 2023, as the firm saw its revenue growth slow and staff costs increase.