They don’t want to you to be a hermit who just studies all day long. They want you to be able to gain knowledge and experiences to help their clients and grow their practices. The best way to do that is to be well rounded and work on your communication skills.
Do mock interviews
Currently, KPMG is the smallest of the Big 4, with 2018 revenues of $29 billion. It is the only member of the Big 4 with its headquarters outside of London, and is based in the Netherlands. Mr. Deloitte is famous for being the first independent auditor ever to be hired by a public firm. RSM has more than 41,420 employees working across their 793 offices. According to the International Accounting Bulletin, the Big Four have a combined 74% share of the global accounting market.
Mastering Interviews and Assessments at Big 4 Firms
Which mid tier accounting firms made the list of the largest public accounting firms this year. Founded in 1845 in London, Deloitte has operated in the U.S. since 1890 and has grown both organically and through a series of acquisitions over the years. Deloitte was named by Forbes magazine as the third-largest privately owned company in the U.S. in 2020, and generated $59.3 billion in revenue in 2022. The company employs about 415,000 people and provides a range of services such as consulting, financial advising, risk advising, tax, and legal services.
Top Accounting Firms to Work for
This extensive network allows Deloitte to offer localized services while leveraging global insights, making it a preferred partner for companies seeking to navigate the complexities of international markets. The Big 4 boast an unparalleled global presence, underpinning their status as leaders in the professional services industry. This worldwide footprint is not merely a testament to their size but a reflection of their commitment to delivering comprehensive services to clients across the globe, regardless of location.
- Say you just landed a job at Deloitte as an auditor (congrats!).
- Although each sector has grown slightly since 2013, EY’s advisory business has increased the most.
- During the 2000s, the Big 4 have made significant investments in their consulting businesses.
- Deloitte acquired Monitor Group, founded by Michael Porter (famed Harvard professor), in 2013 after the strategy firm filed for bankruptcy.
- Auditors can serve a variety of roles, but generally an auditor’s objective is to determine whether a company’s financial records are accurate.
How to Land a Job with the Big 4
In 1989, Ernst & Whinney merged with Arthur Young to create the modern EY. Their tax and assurance service sectors have remained about the same year of year, but their advisory and consulting business keeps growing year after year. Although PwC did beat D&T’s gross revenue number in 2015, D&T does employ more professionals and has generated more revenues two out of the last three years. The big four accounting firms, most commonly referred to as “The Big 4,” are the world’s largest and most prestigious audit, tax, and professional service companies. These firms are recognized for their significant contributions to the accounting industry, serving a wide range of clients from multinational corporations to emerging startups and public sector organizations. This article aims to provide a balanced overview of the Big 4, exploring their history, global presence, and the diverse services they provide.
In the 1980s there were actually eight large firms known as the big eight. The KPMG University Connection is an audit, tax, and general business curriculum created by KPMG to help students learn more about public accounting. The video lectures teach everything from business communication to professional critical thinking skills. As typical with the BIG FOUR over the past few years, EY’s total revenue has consistently climbed year over year. Although each sector has grown slightly since 2013, EY’s advisory business has increased the most. This means there will be more job opening and opportunities for new hires in the future.
There are a lot of different consulting specialisations, but as a consultant you would typically meet with clients, understand their challenges, analyse potential approaches, and provide recommendations. The first two (audit and tax) are generally considered different types of accounting. This can take a variety of forms, such as management consulting, technology consulting, and more. BDO attributes their growth in 2016 to strategic mergers that occurred. In order for BDO to catch up to the big 4 accountancy firms they will have to continue merging internationally. Ernst & Young traces its roots back to 1849 through predecessor companies, but the company’s current form originated in 1989 when Ernst & Whinney merged with Arthur Young & Co.
Ernst and Young has roots going all the way back to the mid-1800s. In the technology sector, PWC has been outspoken on crypto-currency and was the first of the Big 4 to accept payment in bitcoin. Below you’ll find a snapshot for each individual firm, highlighting key numbers, notable alumni, and more. This puts them behind the $64.9 billion of revenue that Deloitte generated in 2023. It’s expected that you will become a CPA at one of the big 4 firms.
A career at the Big 4 firms offers a challenging yet rewarding path, filled with opportunities for growth, learning, and impact. Understanding the nuances of their hiring processes and what they look for in candidates is the first step towards embarking on a successful career within these esteemed organizations. In that sense, the hiring process is not too different than the one of top strategy consulting firms, especially for their consulting divisions. Since the 1980s, numerous mergers and one major scandal involving Arthur Andersen, have reduced the number of major professional-services firms from eight to four. The largest of the Big Four, Deloitte’s workforce grew to over 457,000 employees during their 2023 fiscal year.
Each firm also assists with mergers, acquisitions, corporate restructurings, and forensic accounting. For many years, the accounting industry has been top-heavy, dominated by a small number of large and powerful firms. Over time, the largest accounting firms in the world underwent a series of mega-mergers, concentrating the industry even more. Ernst & Young, also known as EY, is the third largest big 4 CPA firm with over 700 offices located in over 150 countries around the world.
Nexia has moved up to the 8th largest accounting firm in the world with $4.5 billion in revenue. The number of employees working at Nexia International was around 34,000. Okay, you are still in college and you’re thinking about getting in public accounting, but you aren’t really sure what it looks like or how much you will make.
In 2022, the Big Four constituted 99.7% of the S&P 500 market, dominating the audit fee market share. Through industry consolidation that began in 1989, what used to be the Big Eight is the Big Four in 2024. The original eight, based in the U.S. or the U.K., included Arthur Andersen, Arthur Young, Coopers & Lybrand, Deloitte Haskin & Sells, Ernst & Whinney, Peat Marwick Mitchell, Price Waterhouse, and Touche Ross.
In many cases, each member firm practices in a single country, and is structured to comply with the regulatory environment in that country. After getting some practice on your own, you should find someone who can do a mock interview with you, like a friend or family member. Sure, there is a minimum number of hours you need to put-in, to develop good case interview habits (probably ~30h+). But trust us, in our experience candidates who use this approach are much more likely to get an offer. We’ve helped over 30,000 applicants, and those who get offers in consulting usually begin with maths preparation. Say you just landed a job at Deloitte as an auditor (congrats!).
This core service is complemented by a robust advisory practice that helps clients manage and mitigate risk, improve performance, and solve complex business problems. PwC’s evolution reflects its adaptability and commitment to meeting the ever-changing needs of its clients. By continually expanding its service offerings and investing in technology and talent, PwC has solidified its position as a leader in both assurance and advisory services. Like the big four firms, EY saw growth and expansion in the 1990s and early 2000s in their consulting and advisory businesses.
EY focuses on hiring a larger percentage of their interns because it works. They can train students and test them out for a trial run during the internship. After they are fully trained and graduate college, they become full time team members. It’s a great model that they take to colleges around the country. During the 1990s PwC grew rapidly and became one of the industry standards in the United States. They also acquired many of Arthur Andersen’s Chinese client base after their collapse.
For certain positions, case studies and group exercises may also be part of the evaluation to gauge candidates’ teamwork and analytical skills. Documents published in June 2010 show that some UK companies’ banking covenants required them to use one of the Big Four. This approach from the lender prevents firms in the next tier from competing for audit work for such companies.
