The "Big 4" refers to the four largest accounting firms and includes Deloitte, PwC, KPMG, and EY. All four companies provide audit, assurance, consulting, financial advisory, risk management, and tax compliance services. Deloitte. "Deloitte Ranked 6th on World's Best Workplaces 2023."
The Big 4 firms – Deloitte, KPMG, PwC and EY – are the four largest professional service networks in the world, offering services in various business areas, most prominent among which are: auditing and accounting; advisory and consulting; tax, risk and legal advice.
PwC and Deloitte are the most prestigious
PwC and Deloitte will cost more, EY somewhere in the middle, and KPMG will sometimes even take a hit on their margin in order to get the project (so they can use that to build better relationships with the client).
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.
The most prestigious firms are McKinsey, Bain, and BCG. Next most prestigious are "Tier 2" firms such as Kearney, Accenture, and LEK. This tier also includes the strategy consulting arms of the Big 4 firms, including Deloitte Monitor, EY Parthenon, and PwC's Strategy&.
PwC, for example, was mentioned in a Times article last year as having an acceptance rate of around 2.5% in 2022, presumably in the UK. That was based on 304,000 applications to 7,400 open positions, more or less on par with what a big investment bank receives.
Which big 4 accounting firm pays the most? Well it depends on which practice you want to go into. 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.
PwC (PricewaterhouseCoopers) LLP
PwC is widely considered to be the world's most prestigious and progressive accounting firm.
Deloitte has more revenue and more employees. You could say it's the biggest of the Big. Deloitte gets a large chunk of its revenue from consulting.
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.
KPMG stands for Klynveld Peat Marwick Goerdeler, the last names of the firm's four founding members. KPMG was founded in 1987 as the result of a merger between Klynveld Main Goerdeler (KMG) and Peat Marwick International (PMI).
SAN FRANCISCO, Feb 27 (Reuters) - Apple Inc on Friday named Ernst & Young as its independent accounting firm, replacing KPMG, which had audited the company's books for more than a decade.
They both help clients with their challenges, but the type of service each performs is quite different. An advisor typically works with the clients on a long-term basis, providing advice for ongoing business challenges. A consultant, on the other hand, solves narrow, well-defined problems on a project basis.
Freddie Mac Scandal (2003) – PricewaterhouseCoopers (PwC) American International Group (AIG) Scandal (2005) – PricewaterhouseCoopers (PwC) Lehman Brothers Scandal (2008) – Ernst & Young (EY) Satyam Scandal (2009) – PricewaterhouseCoopers (PwC)
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.
KPMG is known for its strong performance in audit and is an attractive choice for those looking to build their career in a dynamic and flexible work environment. KPMG has roots in the Netherlands, the United Kingdom, and the United States.
Big 4 Partner Salary
A large part of partner compensation is tied to equity. For reference, however, you can expect to make somewhere between $250,000 and $5 million a year. It's a lot of money but it also takes roughly 13 to 17 years to get there!
The top-paying industries for accountants include finance and insurance, management of companies and enterprises, tax preparation, and the government. The top-paying states/districts for accountants include Washington D.C., New York, New Jersey, California, and Massachusetts.
Answer: Though the smallest of the Big 4 firms, KPMG is known to have the best work-life balance amongst its employees.
Heavy Workload
Compared to the other accounting firms, it seems as though PwC hires less associates and therefore when people leave the firm, they don't have enough staff to complete the work. You end up doing the work that could be done by two people.
Do I need a finance and accounting background to apply for PwC? Not at all, we welcome students from all degree disciplines. It doesn't matter what degree you're studying for – in fact most of our business areas accept students from any discipline.
PwC plays a vital role in providing audit, tax, and consulting services to clients across various industries. Highlighting your experience with financial analysis, project management, and client relations on your resume will make a strong impression.