Deloitte is made up of firms that are members of Deloitte Touche Tohmatsu Limited (also referred to as “Deloitte Global”), a private company limited by guarantee, incorporated in England & Wales.
The Deloitte organization is a global network of independent firms and not a partnership or a single firm.
Deloitte provides audit, consulting, financial advisory, risk advisory, tax, and legal services with approximately 457,000 employees globally, and operates in over 150 countries.
Deloitte LLP is the U.S. member firm of Deloitte Touche Tohmatsu Limited.
Investment banking products and services within the United States are offered exclusively through Deloitte Corporate Finance LLC. For more information, visit www.investmentbanking.deloitte.com.
The concept of the Limited Liability Partnership (LLP) was introduced in India in 2008. The Limited Liability Partnership Act, 2008 regulates the LLPs in India.
The structure of Deloitte US
Services to clients are provided by the subsidiaries of Deloitte LLP, including: Deloitte & Touche LLP. Deloitte Consulting LLP. Deloitte Financial Advisory Services LLP.
KPMG LLP operates as an audit firm. The Firm offers accounting, auditing, internal audit, compliance, corporate recovery, forensic accounting, assurance, tax, risk management, and financial advisory services. KPMG serves customers worldwide.
Deloitte Consulting is a brand name owned by Deloitte Touche Tohmatsu Ltd (DTTL), which is a UK limited company. DTTL has a network of member firms (which it doesn't own) that are independent of each other in terms of capital structure and liabilities, and are typically limited liability partnerships.
The average across all partners will land right around $650k – $850k each year. Big 4 Firms – PwC, KPMG, EY, and Deloitte Partner Salaries: Years 1-5: $300k – $500k. Years 6-10: $400k – $1.3M.
Its service areas include: Tax, Consulting, Audit & Assurance, and Risk & Financial Advisory. Within Deloitte's Consulting practice, it further divides its work into five practice areas: Core Business Operations, Customer & Marketing, Enterprise Technology & Performance, Human Capital, and Strategy & Analytics (S&A).
Technology, Media and Telecommunications
Deloitte economics has deep expertise in the TMT sector. As the technology arena evolves, Deloitte economics continues to act as a trusted economics advisor to global industry leaders.
PwC is the brand under which the member firms of PricewaterhouseCoopers International Limited (PwCIL) operate and provide professional services. Together, these firms form the PwC network. 'PwC' is often used to refer either to individual firms within the PwC network or to several or all of them collectively.
KPMG is a global organization of independent services firms providing Audit, Tax and Advisory services.
McKinsey & Company was originally organized as a partnership before being legally restructured as a private corporation with shares owned by its partners in 1956.
Since LLP contains elements of both 'a corporate structure' as well as 'a partnership firm structure' LLP is called a hybrid between a company and a partnership.
Therefore, KPMG and Deloitte are two of the Big 4 consulting firms. While they are both considered prestigious firms, Deloitte is more known for its strategy work other than KPMG. As such, Deloitte S&A's salaries are usually higher than KPMG and exit opportunities are more likely to be in strategy & operations.
Deloitte is a leading global provider of audit and assurance, consulting, financial advisory, risk advisory, tax & legal, and related services.
Within the Big 4 firms, Deloitte is generally considered to be the most prestigious and KPMG the least prestigious. PwC and EY are at a similar level of prestige.
Deloitte firms are not subsidiaries or branch offices of a global parent, but instead comprise separate and distinct legal entities. The Deloitte organisation is not a partnership, single firm or multinational corporation.
Limited Liability Partnership (LLP)
A limited liability partnership is similar to a limited liability company (LLC) in that all partners are granted limited liability protection. However, in some states the partners in an LLP get less liability protection than in an LLC.
You can form an LLP in all 50 US states; however, some require specific state licensing for professional services.
An LLP is a form of legal business entity with limited liability for the members. The main difference between an LLP and a limited company, is that an LLP has the organisational flexibility of a partnership and is taxed as a partnership. In other respects it is very similar to a private company.