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Mentor
There could be several reasons for this outcome (mentioning few based on my understanding)
Most likely:
They found another candidate with similar capabilities who could join immediately and at a lower compensation than your current or expected CTC.
Less likely:
The business requirement was either closed or the project for which hiring was being done was not awarded to PwC.
Least likely:
You were not considered the right fit for PwC’s culture or the specific role.
Thank you for providing the reasons. I have spoken to the HR team, and they mentioned that they will get back to me after reconfirming with the interviewer.