Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers will hire about 3,850 graduates between them this year, up more than 20% from 2009, according to research by The Times.

PwC reportedly received a record 18,000 applications last year and expects even more this year.

The rise is good news but the numbers are starting from a lower bar – they fell 8% in 2008 and another 5% in 2009.