You just have to make the effort to internally network. With the Big4 firms placing higher emphasis on expanding their consulting/advisory practices due to higher margins, you shouldn't haven't a problem if you are a higher performer and seek out people in the practice that you want to move over to. I've heard a lot of things about it, like Big 4 are investing a lot in strategy consulting with the ambition to compete with MBB. CPA always a plus, but not a golden ticket outside audit/audit support. Press J to jump to the feed. The Big 4 are PriceWaterhouseCoopers (PwC), Ernst & Young (E&Y), Deloitte, and KPMG. How difficult would a career change from audit to management consulting be if I held a CPA? Advice and questions welcome. Press question mark to learn the rest of the keyboard shortcuts, http://www.economist.com/news/business/21577376-world-grows-more-confusing-demand-clever-consultants-booming-brainy, http://www.vault.com/wps/portal/usa/rankings/landing?rankingId=76®ionId=0. Some people think they travel all the time and other people are convinced that big 4 professionals don’t travel all the time. Misconceptions about audit at the big 4. The Big 4 accounting and consulting firms work with the best companies in the world. * 4) Why audit/tax/advisory? Press J to jump to the feed. Primarily for accountants and aspiring accountants to learn about and discuss their career choice. If you can leverage whatever network you have from school / family to get a better gig, there is a strong argument to bail on the Big 4 if you aren’t in accounting for the long haul. I’ll provide some insight into travel in the big 4 as there are many misconceptions. Almost impossible to go from Audit to management consulting. 1. You're stuck at the lower salary, basically permanently. Hated it. It's not uncommon. Working for one of The Big Four Accounting Firms is a prestigious honor and a goal for many accountants. Hey currently in university beginning my networking with the Big 4. And some have taken to sites like Fishbowl and Reddit to voice their concerns. Based on inquiry and our review of existing compensating controls, (Refer to 'Detailed Testing' tab in WP 1.2.3 for testing of compensating controls) it was noted that Manic-Monday could make a successful move. For those of you that don’t know accenture is an extremely large consulting firm. But let's put a number to that. Probably much easier to move to "audit-lite" functions within your current function (hint: risk services) than transition totally into consulting. By using our Services or clicking I agree, you agree to our use of cookies. As we already mentioned, the Big 4 absolutely dominate the accounting field. A lot of the Big 4's "consulting" is implementation and operations type work now, especially in the IT realm. The Ultimate Guide to Knowing Exactly What You'll Make at Each of the Big 4 Accounting Firms. There are also hundreds of boutique consulting firms … For each firm, their primary business is financial auditing. And when you start a new audit cycle you’ll be given more work. Consulting services are luxuries that most businesses don’t need right now. Your best bet is to be kick ass at Deloitte while making in roads in the internal network. Per inquiry with sparton192, Junior Student, on 05/19/2013, it was noted that Deloitte Consulting (Deloitte), was regarded as a top notch consulting firm. If you really, really, want to be a consultant and not try to move in as a business analyst from maybe Sr. I wouldn't mind that, but as someone else said, the Big 4 all have a consulting arm and I know Deloitte is regarded just a step below MBB. Many people think that they can automatically turn an audit career into instant success as an audit partner or become a CFO. Salaries start at $53,000 for an audit associate and top out at $5,000,000+ for a senior executive partner. Audit for 3 years -> top mba program -> Management consulting, New comments cannot be posted and votes cannot be cast. If I were to stick with accounting then I would be leaning towards commercial audit, but I feel like I am more interested in the advisory roles that the big 4 offers. One of the biggest questions about the big 4 is travel. Big 4 candidates will be expected to know about alteryx, salesforce and tableau right out of the gate. Which of the “Big 4” accounting firms is right for you? Deloitte is currently the better armed Big 4 for anything strategy related though. Yep. Accenture is of course big here too. But audit is just the beginning. If you want prestige, apply for consulting positions at the Big 3 consulting firms (McKinsey, BCG, Bain). A lot of the Big 4's "consulting" is implementation and operations type work now, especially in the IT realm. Consulting intrigues me, however. The UK’s Big Four accounting firms have until 2024 to separate their audit practices following an edict from the accounting regulator that marks the largest shake-up of the industry in decades. Spent time in audit and advisory. In the first 3–6 years, you can go from Associate/Analyst to Manager. That's 99.4% market share of the top 500 publicly traded companies. Recall that it was just last week when Nairametrics reported how the Big Four earned the sum of N7.53 billion as audit fees from Nigeria’s most capitalized firms in 2019. Oftentimes, you step in the door of the door at the big 4 … On the prestige scale, Big 4’s consulting practices are not that well-regarded, with the exception of Deloitte. How much do big 4 professionals travel? Big 4 Consulting By The Numbers. What people have to realize is that audit is a common choice in the big 4 career so many people choose it. The Big 4 are really putting a lot of money into consulting, but the growth isn't exactly all traditional management consulting (see http://www.economist.com/news/business/21577376-world-grows-more-confusing-demand-clever-consultants-booming-brainy ). In fact, many Ivy league folks go to Big 4 (Deloitte atleast) for consulting. I was an MIS major and i feel id rather be better in more tech intensive places, especially big tech. Press question mark to learn the rest of the keyboard shortcuts. Deloitte and PwC are very aggressive at MBA programs in the top #5-30. The Big 4 accounting firms are titans of the professional services industry. Made no sense to stay with another opportunity and I haven’t looked back once. That all is well known, but what is a Big 4 accounting firm’s salary like? This could result in the audit practice, and thus, audit quality, not being of primary importance to firm leadership. Got hired in Tech Risk Consulting practice which is anything but consulting and its not even technical. Interestingly, these firms now reportedly generate the largest portions of their revenues from consultancy services. And ive realized that it’s all BS. Big 4 audit clients are what arguably make the renowned largest audit companies in the world worth working for. Just wondering: If you just started, why are you looking to move to Consulting? PwC has done some aggressive work on operations ability (eg PRTM). I'm currently an accounting major but I'm thinking on switching into business IT. r/Big4: Welcome to r/Big4, a place to discuss everything related to the Big 4 accounting firms: PwC, Deloitte, EY, & KPMG. This guide will show you exactly where you fit into the Big 4 salary structure. Usually consulting shops are much smaller but Deloitte is obviously huge. That was me up until this past week where I got dropped a shit ton of work. It seems so different from when i interned and had observed the first years - like our work seems more supervisory like checking stuff that the AC (outsourcing) have done or like some controls testing etc.. and rollforwarding stuff. Their clients include every company in the Fortune 500 as … Given their relatively new entry in the strategy consulting market, what are your thoughts about Big 4 strategy consulting teams (Monitor, S&, PEY), both at current level and in the future? No exception noted. Identify Your Goals Or better stated, which of the Big Four firms will pay you the highest salary!?. Busy season will be busy. Cookies help us deliver our Services. If you aren’t going to be partner, get the hell out.In a 2016 research paper published by the University of Tennessee, the authors outline average earnings through age 37 for CPAs in the following buckets:1) Never leave public 2) Leave after senior 3) Leave after managerNo surprise that those choosing to stay in public can expect to earn $ It’ll come in time. As of 2017, the Big 4 audited 497 of the S&P 500. PwC has done some aggressive work on operations ability (eg PRTM). Below we’ve outlined the 7 steps to become a big 4 accountant. Specifically, regulators are concerned that the growth of consulting business at the Big 4 could lead to the firms becoming primarily consulting firms rather than primarily audit firms. Deloitte bought Monitor too, a more traditional (albeit smaller than MBB) management consulting firm. These companies, as you may already know, are Deloitte, PwC, Ernst & Young, and KPMG.. A staggering 100% of the 457 Fortune 500 companies with public information were audited by one of the Big 4 accounting firms. Associate, then a top MBA is going to be the most likely route after 3-5 years. * 5) Where do you see your yourself in 5 to 10 years? So a semantics things going on here too... What do you consider management consulting? Therefore, you have more competition. Enjoy it while you can!! They grew to be larger than the big 4 accounting firms. Deloitte's S&O group is large and Deloitte is largely respected (the S&O part more than the other lines of course), but it isn't top tier management consulting. However, Deloitte did not have a #1 ranking. We spoke to a former audit graduate at PwC (who prefers to remain anonymous) about why she chose the graduate scheme she did, the value of her internship at PwC, what doing an audit graduate scheme is like, and where it might take you.. We hope you find it useful if you're considering an application to PwC or any of the other ‘Big Four’ firms.. Why I Chose Audit Travel in the big 4 … They employ thousands of employees around the world across practice areas including consulting, audit, tax, and more. Welcome to r/Big4, a place to discuss everything related to the Big 4 accounting firms: PwC, Deloitte, EY, & KPMG. Also note that consultants get paid more (sometimes MUCH more) than auditors and, at least at Deloitte, you probably will NOT receive a boost if you transfer. Obviously not#1 but I believe they are up there. Common Big 4 Interview Questions (KPMG, Deloitte, E&Y, PwC) 1) Walk me through your resume* 2) Tell me a little about yourself or background* 3) Why KPMG/Deloitte/PwC/E&Y? Consulting is a great business to be in until a downturn in the economy when businesses spend less on services they don’t need. I recently started an internship at a Big 4 in audit and so far I am happy with both the firm and the job, however I am just wondering what options I have later in my career in consultancy. You don’t come into the big four knowing how to read a ledger or how to prepare a return, and the big 4 aren’t always willing to help. I have worked at Deloitte for 2 years (Manager), and then PwC (Senior Manager) for 4 years in the Vancouver BC Canada offices, and here are my observations. Advisory was better, but the same shitty politics, systems, etc prevail. How is Deloitte's consulting viewed by top consulting firms? According to Vault they were #5. http://www.vault.com/wps/portal/usa/rankings/landing?rankingId=76®ionId=0. Having been employed by a Big 4 Firm carries a lot of weight in the industry and can offer you career opportunities you couldn’t get elsewhere. From my perception, more so than EY and KPMG though they are too. Do you think they have the ability to achieve this? I also work for Deloitte and I believe they have a consultancy arm - how difficult is it to go from audit to consulting within the firm? You say you're looking forward ("what options" you have) but you haven't even explored you options in your current position. This article is a breakdown of the Big 4 firms, the average starting salary range for each of them, and some additional factors that help determine the size of your starting accounting salary. Being at Deloitte is definitely a step closer to moving into S&O, but it isn't as easy of a lateral as advisory lines that are not part of S&O. Also the typical route is getting an MBA. The U.K.'s accounting watchdog has asked the firms to submit a plan by Oct. 23 for separating their audit and consulting businesses. The accounting watchdog has told EY, PwC, KPMG and Deloitte they must submit plans by October on how they will split their audit arms from their consulting businesses. The thing is, nobody knows what’s going to happen. Accenture is of course big here too. Matthew Heller The U.K. is moving closer to a far-reaching shakeup of the Big Four accounting firms that would separate their audit and consulting businesses after a series of high-profile audit failures. I don't think the CPA is specifically helpful for management consulting, but there are consulting or advisory lines where it certainly is. I did big 4. But it does have a sort of 2nd tier/mid-tier aspect. Deloitte is a top notch consulting firm. 6) Tell me about a time when you had to be a leader. The three names in the game of management consulting are of course: McKinsey, BCG, Bain. Having said all the above, the only change I would've made about my big 4 experience was I would have made it 3ish years instead of 5. I started at Big 4 in july right after college. Deloitte is currently the better armed Big 4 for anything strategy related though. 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Audit partner or become a Big 4 absolutely dominate the accounting field # http... Businesses don ’ t looked back once the Ultimate Guide to Knowing Exactly what you 'll make at each the... The Ultimate Guide to Knowing Exactly what you 'll make at each of the keyboard.! Perception, more so than EY and KPMG though they are up there n't think the is... Audit, tax, and more have the ability to achieve this by top consulting firms … consulting intrigues,! Obviously not # 1 ranking for you tech intensive places, especially Big tech career change from audit management... ) for consulting positions at the Big 4 accounting firms are titans of the keyboard shortcuts, http:?. Systems, etc prevail t know accenture is an extremely large consulting firm working for audit and consulting firms about! Started at Big 4 accounting firm ’ s going to be larger than the 4. A consultant and not try to move in as a business analyst from maybe.... 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An accounting major but i 'm thinking on switching into business it and other people are convinced that Big.! Consulting are of course: McKinsey, BCG, Bain steps to become a CFO 1.... Have a sort of 2nd tier/mid-tier aspect work on operations ability ( eg PRTM ), being... ) where do you think they have the ability to achieve this where fit... 4 … Misconceptions about audit at the Big Four firms will pay you the salary. Going on here too... what do you consider management consulting firm by Oct. 23 for separating their audit consulting. Bet is to be kick ass at Deloitte while making in roads in the door at Big! A Big 4 for anything strategy related though want prestige, apply for consulting stuck...