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2. Independence issues - The big 4 firms could face independence violations if they went public. If they went public, anyone could invest in their stock. This would mean that clients of the firm might accidentally invest in their stock directly or through a mutual fund and violate their independence. 3.
From an employee's perspective, Deloitte distinguishes itself from other Big Four firms--PwC, EY, and KPMG--in several key areas: Culture and Work Environment: - Inclusivity and Diversity: Deloitte often emphasizes its commitment to diversity and inclusion, creating a workplace culture that values different ...
Deloitte has reiterated it will not be splitting its business arms as they do not want to fragment its offering. Even beyond the Big Four there are signs others could consider a shake up.
Deloitte is planning to cut more roles from its advisory division. The "ongoing challenging market" is forcing the firm to restructure, a spokesperson said. The growth rate of its global consulting revenues has fallen from 19% in 2023 to 1.9% in 2024.
Previous job cuts at Deloitte
The Big Four company has also been pushing out workers who it deems to be underperforming, including about 250 advisory staff this autumn.
Deloitte and PwC are described as more competitive.
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.
A firm that operates in a similar way: Deloitte Consulting is the fourth most prestigious consulting firm to work for.
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.
The company also has a long track record of steady growth, and it's been around for almost 200 years. Unfortunately, Deloitte's corporate structure and business model make it highly unlikely that the company will go public.
The accounting profession in the United States is facing a significant challenge: a shortage of Certified Public Accountants (CPAs). Despite the essential role CPAs play in ensuring the financial health and compliance of businesses and individuals, the number of licensed CPAs has been steadily declining.
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.
We can estimate that based on job openings for students, Deloitte's acceptance rate is around 3.7% (which makes sense, considering it's also the biggest of the Big Four), based on 2,500 entry level job openings and 250,000 total applicants (which includes applicants to non-entry level roles).
3 Its corporate structure is complex, particularly because it's a combination of unique independent structurings all over the world. Also, regulations governing the accounting profession vary greatly from country to country. These factors are the main reasons the company stays private.
We're the global leader in professional services
In Brand Finance's Global 500 2021, Deloitte is recognized as the strongest and most valuable “commercial services” brand in the world for the 3rd consecutive year, ranking ahead of all major professional services competitors.
Joe Ucuzoglu is the Deloitte Global CEO, leading the largest professional services organization in the world.
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 company places an emphasis on employee engagement and has the lowest churn rate of the Big 4.
With Deloitte's 3.7 percent acceptance rate, this is a huge achievement for Brito. “After I graduate, I want to travel and study for my CPA license during my first year of employment with Deloitte,” he shared.
KPMG, the smallest of the Big Four by most metrics, is tougher to parse. According to careers advice site thecambridgeconsultant, the firm received around 50,000 applicants to 3,900 roles in the USA, an acceptance rate of around 7.8%.
Deloitte has an employee rating of 3.9 out of 5 stars, based on 70,642 company reviews on Glassdoor which indicates that most employees have a good working experience there.
As the firm looks to shore up its bottom line, Deloitte has been shedding large numbers of roles in the last 18 months. In September 2023, the firm announced 800 layoffs, which was later followed by an extra 100 cuts in February 2024.
At Deloitte we work hybrid. This means that we combine working at the office, at the client, and at home. Below you can find more information about hybrid working at Deloitte. At Deloitte, what does hybrid working mean?