Thus, in 2002, Arthur Andersen, the fifth member of the then Big 5, was dissolved. Since then, Deloitte, PwC, EY and KPMG have been known as the Big 4 and dominate the market for auditing, accounting and consulting. The majority of listed companies in particular rely on the Big 4, both nationally and internationally.
The Big Four are the four largest professional services networks in the world: Deloitte, EY, KPMG, and PwC. They are the four largest global accounting networks as measured by revenue.
MBB are at the top of the consulting world, so it follows that the Big 4 – and practically any other firm – are less prestigious. This means the Big 4 tend to charge less for projects and also pay their consultants less. Big 4 firms typically tend to operate at the lower levels of the value chain.
What is the Big 4? The Big 4 are the four largest international accounting and professional services firms. They are Deloitte, EY, KPMG and PwC. Each provides audit, tax, consulting and financial advisory services to major corporations.
The Big Three is one of the names given to the three largest strategy consulting firms by revenue: McKinsey, Boston Consulting Group (BCG), and Bain & Company. They are also referred to as MBB. The Big Four consists of the four largest accounting firms by revenue: PwC, Deloitte, EY, and KPMG.
Deloitte and PwC are described as more competitive.
Management Consulted's figures suggest that, in 2024, an MBB consultant is paid between $135k and $140k in the USA, compared to between $90k and $108k for a Big Four consultant. That's a more substantial difference (25% to 56%) that it was in 2020 (when it was 15% to 34% more).
The Big 5 management consulting firms, also known as the MBB firms (McKinsey & Company, Boston Consulting Group, and Bain & Company) and two from the Big Four (Deloitte and PwC), are among the largest and most influential in the world.
McKinsey's recruiting process is one of the most competitive in the world. The firm typically hires candidates with Ivy League backgrounds and/or prestigious work histories. McKinsey is also known for pioneering the recruitment of advanced professionals with non-business degrees to its consulting teams.
Compensation for consultants is less generous in the strategy teams of the Big 4 than it is at McKinsey, BCG and Bain. Depending on the firm and location, a healthy work-life balance for consultants is more achievable in some Big-4 strategy units than it is at MBB.
It should be noted that the term "Big 3 anime" was created by fans during the zeitgeist. It has no official backing, which means it isn't a reflection of One Piece, Naruto, and Bleach's sales or quality.
The highest-paying job at Deloitte is an Owner with a salary of ₹5,01,80,000 per year (estimate). What is the lowest salary at Deloitte? The lowest-paying job at Deloitte is an Order Management Specialist with a salary of ₹3,00,437 per year (estimate).
This could be due to a highly competitive environment, limited openings at higher levels, or a desire for a different kind of professional experience that the Big 4 environment might not provide.
KPMG Work Culture
Though the smallest of the Big 4 firms, KPMG is known to have the best work-life balance amongst its employees.
The Lion. The lion is arguably the most sought-after of the Big Five because it is synonymous with an African safari. Charismatic, powerful and beautiful, everybody wants to see the appropriately named 'King of the Beasts'.
These firms merged to become the “Big 5,” namely Deloitte & Touche, PricewaterhouseCoopers, Ernst & Young, KPMG, and Arthur Andersen. The Enron scandal of 2002 saw the collapse of Arthur Andersen, and its practices were split among the remaining four firms, that is, the Big 4.
PwC is considered the most prestigious due to its position as the largest professional services firm in the world by revenue. Some key facts about PwC: Generates over $43 billion in annual revenue. Employs over 295,000 people across 157 countries.
Years 1-5: $300k – $500k. Years 6-10: $400k – $1.3M.
We would, however, say that the minimum GPA required is 3.0. But if you find that yours is a bit lower than that, just work on your GPA for grad school, gain work experience, or take on leadership roles during your academic career. These are called compensating factors.
Demanding Workload and Long Hours
One of the biggest stressors at Big 4 firms is the sheer volume of work. Employees, especially in roles like audit, tax, and consulting, often juggle multiple clients simultaneously, each with tight deadlines and high expectations.
If you want to make the most money in consulting, Deloitte pays the best. However if you want to make the most money in auditing or tax PwC is likely your best bet.