The Big 4 Accounting Firms: What You Need to Know

If you are in the accounting field, the term “Big 4” is no mystery to you. This title refers to the four largest professional services networks in the world: Deloitte, PricewaterhouseCoopers (PwC), Ernst & Young (EY), and Klynveld Peat Marwick Goerdeler (KPMG). 

These firms offer a comprehensive range of services, including audit and assurance, consulting, tax, and advisory services, and they play a pivotal role in the global accounting and consulting landscape.​ 

The Evolution and Dominance of the Big 4

Historically, the accounting industry was dominated by the "Big Eight" firms. However, through a series of mergers and dissolutions starting in the late 1980s, this number consolidated to the current Big 4. Collectively, these firms amassed over $200 billion in revenue in 2023, underscoring their significant influence in the industry.  

Breakdown of the Big 4 Accounting Firms

Let’s take a closer look at these top accounting firms to understand the power they hold in the field: 

Deloitte 

• Founded: 1845​ 
• 2024 Revenue: $67.2 billion 
• Employees: Approximately 460,000  
• Global Presence: Over 150 countries​ 
• U.S. Headquarters: New York, NY​ 

PricewaterhouseCoopers (PwC) 

• Formed: 1998 (merger of Price Waterhouse and Coopers & Lybrand)​  
• 2024 Revenue: $55.4 billion​ 
• Employees: Approximately 328,000​ 
• Global Presence: 152 countries​  
• U.S. Headquarters: New York, NY​ 

Ernst & Young (EY) 

• Formed: 1989 (merger of Ernst & Whinney and Arthur Young & Co.)​ 
• 2024 Revenue: $51.2 billion​ 
• Employees: More than 400,000​ 
• Global Presence: 150 countries 
• U.S. Headquarters: New York, NY​ 

KPMG 

• Formed: 1987 (merger of Klynveld Main Goerdeler and Peat Marwick International)​  
• 2024 Revenue: $38.4 billion​ 
• Employees: Over 275,000​ 
• Global Presence: 142 countries  
• U.S. Headquarters: New York, NY​ 

Advantages of Working at a Big 4 Firm

Embarking on a career with one of the Big 4 accounting firms offers numerous benefits:​ 

• Prestige and credibility: Association with a Big 4 firm enhances professional credibility, opening doors to diverse career opportunities. ​ 

• Diverse client exposure: Professionals engage with a wide array of industries and clients, from multinational corporations to emerging startups, providing a broad perspective on global business practices. ​ 

• Comprehensive training and development: These firms invest heavily in employee development, offering structured training programs that foster both technical and soft skills. ​  

• Competitive compensation and benefits: Employees receive attractive salary packages complemented by highly-valued benefits such as flexible working arrangements, robust retirement plans, and generous parental leave policies. 

Accelerated Career Progression

The dynamic environment of the Big 4 facilitates rapid skill acquisition and career advancement:​ 

• Fast-paced learning: The extensive client base and diverse project opportunities enable professionals to gain substantial experience swiftly, often equating one year at a Big 4 to multiple years elsewhere. ​ 

• Global mobility: With offices worldwide, employees have opportunities for international assignments, enhancing their global business acumen. ​ 

Educational Pathways to the Big 4

Aspiring to join one of these top accounting firms requires a solid educational foundation:​ 

• Relevant degrees: A bachelor's degree in accounting or finance is essential. Pursuing advanced degrees, such as a Master of Accountancy (MAcc), can further enhance prospects.​ 
• Professional certifications: Obtaining certifications like the Certified Public Accountant (CPA) is often a prerequisite to work at a Big 4 firm. 

The University of Scranton offers a master's degree in accounting program that aligns with the competencies sought by the Big 4. This program not only prepares students for the CPA exam but also provides a specialized curriculum that emphasizes practical skills and ethical standards, essential for a successful career in accounting. ​ 

Position Yourself for Success

For those aiming to land a position in the prestigious Big 4 accounting firms, pursuing advanced education is crucial. Scranton's program offers flexible online or on-campus formats for a comprehensive curriculum designed to equip graduates with the skills and knowledge required to excel in top accounting firms. 

Learn more by exploring the Master of Accountancy program.