The Big Four Accounting Firms: Career Opportunities in 2024 (2024)

FAQs

Who are the Big 4 accounting firms in 2024? ›

The Big 4 consulting firms refers to the top four accounting firms with management consultancy divisions. These are Deloitte, PricewaterhouseCoopers (PwC,) Ernst &Young (EY), and KPMG.

The Big 4 firms have a well-defined and structured career progression path that typically consists of four levels – Associate/Staff, Senior Associate, Manager, and Partner. Each level is associated with a set of responsibilities, expectations, and corresponding salary ranges.

Consulting. Depending on your role within the Big 4, consulting might be similar to what you are already doing. Nonetheless, one exit opportunity some folks take is moving from Big 4 to Consulting (many focus on the MBB firms).

The average age of these partners are 33-35. Big 4 firms (EY, Deloitte, PwC, KPMG) are strategically promoting younger partners (average age 33-35). Earlier the average age to become a non-equity partner was around 38-40 years. 35-40% of all Big 4 partners are now below the age of 45, compared to 30% 2-3 years ago.

Cherry Bekaert ranks 1st on Accounting Today's "Fastest Growing Firms in the U.S. 2024" list. Cherry Bekaert's strategic acquisitions bolstered a 99.66% growth rate for the Firm in 2023—resulting in Accounting Today's Fastest-Growing U.S. Firm, Top Tax Firm and Top Southeast Region Leader in 2024.

Additionally, many positions at the Big 4 require that candidates have passed the CPA. To help alleviate the stress of the important credential, it's recommended that test-takers seek out exam-specific support.

The situation is worst at Big Four accounting firms. Almost three-quarters (71%) of survey takers who work for them said they feel their mental health suffers because of work pressures. Additionally, 51% of them said they've considered resigning from their job because of wellbeing issues.

As of May 12, 2024, the average hourly pay for a Big Four Accounting in California is $34.43 an hour.

Whether you joined a Big 4 as a springboard for your career or were set on making partner, we generally advise professionals to make a move around three to six years of experience, in order not to leave either too early or too far into their Big 4 career.

In general, PwC and Deloitte are considered the most prestigious of the Big 4. If you ask most people about prestige, they'll probably rank PwC/Deloitte > EY > KPMG. This is reflected in pricing, for example.

Which Big 4 is more prestigious? ›

A QUICK OVERVIEW OF THE FIRMS PwC is the largest by revenue and the most prestigious of the Big Four with a strong and established audit client base.

You're Tired of Working Late

The Big Four are notorious for their late nights. When it comes to work-life balance, they typically score low on employee satisfaction surveys. This is because their hours are long, and they tend to demand a lot. While a good job is a challenging one, there is a limit.

When a generation of talented professionals with specific expertise retires, it can represent a risk to public safety if there are not sufficient knowledgeable trained professionals to replace them. Mandatory retirement ages are common at U.S. CPA firms; the average is between 64 and 65.

Some auditors may only work 60 hours per week during busy season while others may work 120 hours per week. Either way, work-life balance is largely non-existent during this time, with personal lives put on hold to meet client demands. One benefit of having a busy season is that the rest of the year is typically slow.

In general, PwC and Deloitte are considered the most prestigious of the Big 4. If you ask most people about prestige, they'll probably rank PwC/Deloitte > EY > KPMG. This is reflected in pricing, for example. Big 4 will compete with each other on pricing.

The Big Four are the four largest global accounting firms—Deloitte, Ernst & Young (EY), PricewaterhouseCoopers (PwC), and Klynveld Peat Marwick Goerdeler (KPMG), as measured by revenue.

In the late 1990s, the Big 6 became the Big 5 when Price Waterhouse merged with Coopers and Lybrand to form PricewaterhouseCoopers (later stylised as PwC). Five became four in 2001 after the insolvency of Arthur Andersen due to the firm's involvement in the Enron scandal.