Deloitte Touche Tohmatsu (Deloitte), PricewaterhouseCoopers (PWC), Ernst & Young (EY), KPMG – the BIG 4 firms and probably the dream for any finance professional. These 4 firms dominate the market when it comes to the finance, consulting and accounting industry. Let’s discover the job opportunities and career paths in these companies.
Who are the Big 4 in India?
When it comes to the services offered by the Big 4 in India – Deloitte, PricewaterhouseCoopers (PwC), Ernst & Young (EY), and KPMG, it is essential to first understand that these firms are well-established and highly reputable in the industry. Each of these firms provides a wide range of professional services, including audit and assurance, tax advisory, management consulting, and advisory services specific to certain industries. However, there are certain nuances and differences that distinguish them from one another.
- Deloitte has a strong presence in India and offers a comprehensive suite of services across various sectors. They excel in providing audit and assurance services, as well as tax advisory and risk management solutions. Moreover, Deloitte is known for its expertise in technology implementation and digital transformation, making them a favoured choice for businesses looking to embrace innovation.
- PwC, on the other hand, emphasises its global reach and network, providing multi-faceted services tailored to clients’ needs. They are renowned for their audit and assurance capabilities, mergers and acquisitions support, and have a dedicated team specialising in forensic investigations. PwC also places significant emphasis on sustainable business practices, positioning themselves as leaders in responsible corporate citizenship.
- EY, with its strong presence in India and a reputation for quality service, offers a wide array of services that cater to different aspects of the business landscape. They have positioned themselves as a trusted advisor to businesses across industries, providing services such as financial advisory, tax consulting, risk management, and strategic consulting. EY also focuses on providing solutions that encompass sustainability and climate change considerations, catering to the evolving needs of businesses today.
- Lastly, KPMG leverages its vast experience and global network to provide an extensive range of services to its clients. They excel in areas such as audit and assurance, tax consulting, and risk management. KPMG has a strong focus on technology and innovation and offers services such as cybersecurity, data and analytics, and robotic process automation, enabling organisations to navigate the digital landscape effectively.
While each of the Big 4 firms offers a comprehensive suite of services, it is important for businesses to evaluate their specific requirements and choose a firm that aligns with their needs. Ultimately, businesses must select a firm that not only provides the desired services but also understands their unique challenges and goals, thereby becoming a true partner in their success.
Why should you consider joining the Big 4?
In the highly competitive job market of India, securing a position with one of the prestigious Big 4 firms is widely regarded as a significant achievement. The rigorous selection process to join the Big 4 firms is tailored to identify candidates with exceptional talent, knowledge, and skills. As such, securing a position in one of these firms demonstrates not only an individual’s professional capabilities but also their ability to compete against a highly qualified pool of applicants. Benefits of joining the Big 4 extend beyond the initial boost to one’s CV:
- You learn alot in a short span of time: Employees are exposed to a wide range of clients across various industries, providing unparalleled opportunities for professional growth and development. The training programs offered by these firms are highly regarded, equipping employees with valuable skills and knowledge that can be applied throughout their careers. The diverse and global nature of their clientele also allows employees to gain exposure to different business practices and cultures, fostering a more well-rounded professional outlook.
- Your network expands as time passes: The Big 4 firms are known for their strong professional networks and connections, both within the firm and with external stakeholders. Being part of such a network opens doors to numerous career opportunities and collaborations throughout one’s professional journey.
- The brand recognition and reputation associated with the Big 4 firms also play a pivotal role in enhancing an individual’s credibility and employability, as many employers value the rigorous standards and ethical practices upheld by these industry leaders. The fast-paced and dynamic nature of the work may require individuals to adapt quickly, be proactive, and continually update their knowledge and skills to stay relevant in a rapidly evolving industry.
Different Career Profiles in Big 4 Accounting Firms in India
The Big 4 accounting firms in India, including Deloitte, PricewaterhouseCoopers (PwC), Ernst & Young (EY), and KPMG, offer a wide range of professional services in the field of accounting, taxation, audit, and advisory. Within these firms, there are various roles that individuals can pursue depending on their expertise and interests.
- Starting with the entry-level positions, there are opportunities for fresh graduates to join as associates or junior auditors. These roles typically involve assisting senior professionals in conducting audits, gathering financial data, and analysing records to ensure compliance with accounting principles and regulations. Associates may also assist in evaluating risk management procedures and providing recommendations for improvement.
- Experienced professionals can aim for higher positions such as senior associates or managers. Senior associates take on more responsibilities in terms of managing client relationships, leading audit teams, and performing complex financial analyses. They play a crucial role in supervising junior staff, reviewing work papers, and ensuring quality control in auditing processes.
- The traditional audit roles, Big 4 accounting firms also have various specialised practices that offer different career paths. For instance, professionals with expertise in taxation can join the tax advisory teams, where they assist clients with tax planning, compliance, and addressing tax-related issues.
- There are also opportunities in forensic accounting, where professionals investigate financial frauds, perform due diligence, and provide expert testimony in litigation cases. Additionally, consulting divisions within these firms offer a plethora of opportunities for those interested in assisting clients with business strategy, operations management, technology implementation, and risk assessment.
- From advising companies on mergers and acquisitions to helping them navigate through digital transformations, consultants bring a fresh perspective and valuable expertise to organisations across industries.
Irrespective of the specific roles within the Big 4 accounting firms, professionals are expected to possess strong analytical skills, attention to detail, and a deep understanding of financial regulations. They should also have excellent communication skills to effectively interact with clients and colleagues. These firms also emphasise professional development, offering training programs and mentorship opportunities to foster the growth and advancement of their employees.
Guide for Freshers to get an Interview in Big 4 Accounting Firms
- Most of the Big 4 firms prefer candidates with at least a Bachelor’s degree in accounting or finance. This degree will provide you with a strong foundation in financial reporting, auditing, taxation, and other relevant topics. It is crucial to excel in your coursework and maintain a high GPA to stand out amidst the competitive pool of applicants.
- Gain practical experience through internships or part-time positions. While academic qualifications are important, practical experience is equally valued by the Big 4 firms. Consider applying for internships or part-time jobs at accounting firms, corporations, or government agencies. This will not only enhance your technical skills but also expose you to real-world scenarios and challenges faced in the accounting profession.
- Pursue professional certifications such as the Financial Risk Manager (FRM) Certified Financial Analyst (CFA) or CA (Chartered Accountancy) designation. In order to maximise your chances of getting hired by the Big 4, obtaining this kind of certification is strongly recommended. These designation demonstrates a high level of commitment, expertise, and ethical standards in the field of accounting and finance.
- Focus on developing soft skills. While technical competence is crucial, the Big 4 firms also value candidates with excellent communication, leadership, and teamwork skills. Participate in extracurricular activities, such as joining student organisations or taking up leadership roles, to demonstrate your ability to work effectively in teams and engage with clients and colleagues. Developing strong interpersonal skills will significantly boost your chances of getting hired.
- Networking plays a pivotal role in securing an opportunity with the Big 4. Attend career fairs, industry conferences, and local events to meet professionals working in the field. Create and maintain a professional online presence on platforms like LinkedIn, where you can connect with recruiters and employees from the Big 4 firms. Utilise these networking opportunities to build meaningful relationships with professionals who can vouch for your skills and suitability for the firm.
- Prepare for interviews and assessment tests. Once you have secured an interview with a Big 4 firm, it is essential to thoroughly prepare. Research the firm extensively, familiarise yourself with its services, clients, and recent news. Practise common interview questions, and be ready to articulate your skills, experiences, and career goals effectively. Some firms may also require you to complete assessment tests, so ensure that you practise relevant aptitude tests to improve your chances of success.
By following these step-by-step guidelines and diligently working towards acquiring the necessary qualifications, certifications, and skills, you can significantly increase your chances of getting hired by the prestigious Big 4 accounting firms.
At The WallStreet School, our mission is to fully prepare our students not only for their professional exams but also for successful careers in the finance industry. By providing lectures from industry expert coaches and real life case studies we train students to become successful finance professionals. In addition to that, we also provide assistance to students with placements at leading financial institutions like the Big 4 accounting firms so that they can fastrack their finance career. If you are curious about our services and programs, you can reach out to us at https://www.thewallstreetschool.com/contact/
