How to get a job at Big 4 ? (Expert’s Guide)

For many accountants, the big four accounting firms represent the dream. Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers are all huge, with extremely stable career options and many ways to advance within the company. If you’re looking for career stability, a high salary, or long-term growth potential, you won’t find many outstanding options.

However, pursuing a career at these large accounting firms can be a real challenge: the level of competition you will face is fierce. Hundreds of thousands of people work for each of these companies, and each year they face more candidates than they can reasonably handle. That means your app is at risk of being buried in the crowd.

So how can you become one of the successful applicants to the Big Four? Lets know more about it in this blog.

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Who are the Big 4?

The Big 4 refers to four major accounting firms: PwC, EY, Deloitte and KPMG. These firms are leaders in the accounting industry with services including audit, tax, risk, consulting, and more. They work in many different fields and are recognized worldwide. Every company has its own area of ​​expertise and culture.

PwC has a strong and established client base. In 2022, PwC’s annual revenue exceeds $50 billion and employs approximately 328,000 people. PwC’s strength lies in auditing and the company strives to diversify its staff.

Deloitte is the largest of the four companies in terms of revenue and workforce. The company has revenue of more than $59 billion in 2022 and employs about 334,800 people. Deloitte is known for its consulting expertise, a focus that has created corporate culture.

KPMG employs more than 265,000 people worldwide and has revenues of approximately $34 billion by 2022. KPMG is known for its excellent employee development, offering a variety of apprenticeship programs with a track record of success and key qualifications above industry standards. The culture at KPMG is fresher than elsewhere in the Big 4, with less pressure to adapt to the lifestyle of an urban graduate. KPMG is notoriously more European-based than the rest of the Big 4 and spreads its activities across different areas of accounting.

EY is the newest member of the Big 4, with more than $45 billion in revenue. EY has a large workforce of around 400,000 people and is renowned for its diversity. The company’s track record in advancing women and history of supporting LGBTQIA+ rights demonstrate the company’s inclusive nature and values-driven culture. EY is also an industry innovator by moving into technology consulting.

The virtual recruitment process

The following example of the virtual recruitment process at EY will help you understand what it takes to get a job in the Big 4. Some Big 4 application processes take place almost entirely online. To demonstrate how a recruitment process can work, we’ve provided an example of an EY process.

Virtual Recruitment at EY

EY candidates will be asked to complete an initial online application, followed by a series of aptitude tests:

1. Numerical and Verbal Reasoning – These test will determine whether you have the appropriate proficiency in mathematics and language skills. They are designed to test your comprehension in a professional setting.

2. Situational Judgment Test – This test evaluates how well your strengths align with the company’s core values ​​by presenting you with job scenarios. Take this opportunity to show off your problem-solving skills.

3. Personality Test – EY assesses your personality fit based on your responses to a series of statements. You will need to categorize the statements honestly, based on how relevant they are to you. This test is based on five categories:

• Learn a new language
• Solve problems
• Learn new technology
• Pay attention to detail
• Concentrate

If you pass this stage, you will Switch to job simulation.

This will virtually simulate the experience and challenges of working at EY. You will perform tasks such as communicating with customers, colleagues and managers, managing workloads and getting work done.

4. The final step will be a video interview. This is not a face-to-face interview but you will be asked to record a video answering a series of questions. For each question, you will have two minutes to record your answer. So make sure you practice answering the questions correctly.

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The recruitment process step-by-step

While hiring is different at different companies, here are some general steps you can expect from the application process.

1. Apply online – When applying to one of the Big 4, be sure to research the company thoroughly. Each company’s culture is at the heart of its operations and strongly influences the recruitment process.
Be sure to determine how your personality and values ​​align with the company’s before you begin applying.

2. Online Aptitude Tests – If you move to the next step, you will need to take a series of online aptitude tests. These may include personality tests, situational judgment tests (SJTs), verbal reasoning, numerical reasoning, logical reasoning, and work simulations.

3. Phone Interview – During the phone screening process, you may be asked general questions. Be prepared to expand on certain sections of your resume and come up with some questions you can ask to engage with the interviewer.

4. Interviews – These interviews are usually held in person, but because of Covid interviews are often held online. Practice your interview skills as much as possible and make sure you’re ready to answer a series of questions. Be sure to use your experience to support your answer with evidence.

5. Assessment Centers – Assessment centers commonly found in Big 4 applications During assessment day, you will complete tasks in another candidate group, such as presentations and group exercises. This will test your communication and teamwork skills, and help the interviewer see how you’d fit in with the company.

What jobs can you do in the Big 4?

There are many roles available across different large companies. Some of the main areas of recruitment are:

Auditing

Auditing involves examining the accounts of an organization to ensure the accuracy of financial statements.

Consulting

Consultants provide expert advice to clients on various aspects of their business, to help them improve their performance.

Transaction consulting

Transaction consulting is a step in the merger and acquisition process that allows the buyer to clarify the performance of the target company.

Tax

Companies that advise clients on taxes, helping them prepare tax returns and pay taxes.

Internships at the Big 4

Internships are a great way to gain experience while working toward a career in the Big 4. All four companies offer a variety of internship programs, primarily for undergraduate college students in the vacation.

Internships typically last about four weeks and can help increase your chances of getting into a graduate program.

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Average salary of Big 4 graduates

As a graduate of a Big 4 company, you can expect to earn a starting salary of around £30,000. Once you complete your training and gain your qualification, this can be up to £50,000. Starting salaries can vary by location, but you can expect to earn between £28,000 and £32,000 in places like London and Manchester.

There are three ways to significantly increase your chances of finding a job with the Big Four:

1. Qualifications.

First, you need to be qualified to work at one of the big four accounting firms. These are reputable companies, so they tend to hire only the most impressive candidates with the right education, training, and certifications.

2. Difference.

A Big Four firm receives tens of thousands of new applications each year. Why are you worth hiring more than others? If you have the same CV that they’ve seen a thousand times, you won’t stand out. You need a way to differentiate yourself in a positive way.

3. An “In”.

Having an “in” also helps. Have you ever heard the phrase: “It’s not what you know; Is this someone you know? This saying exists for a reason; Companies are more likely to hire and work with someone if they already have a high-performing employee vouching for them. It’s much less risky than betting on a complete stranger. You can debate the merits of this approach, but that doesn’t change the fact that getting your foot in the door with a warm introduction can be a huge advantage.

Tips for Getting Into the Big Four

These individual tips can all help you increase your chances of getting hired at one of the Big Four accounting firms:

1. Be open to all options.

Perhaps you have a particular preference among the Big Four. However, it goes without saying that you will immediately quadruple your chances of being hired by a company if you apply to all four schools.
Keep your options open throughout the application process and learn more about each of these companies.

2. Get excellent grades.

Ideally, you will attend a school known for its accounting training program. But even if you attend a lesser-known school, you can still significantly increase your chances of getting hired by getting excellent grades. If all other factors are equal, a higher grade point average (GPA) may give you an advantage over other applicants.

3. Pass the CPA exam.

Although some accountants reserve the CPA exam for later in their career, it is best to pass the CPA exam early. The CPA exam will qualify you to become a certified public accountant, a title that not everyone in an accounting firm achieves. This will immediately set you apart from competing candidates and demonstrate how serious you are about this career. Of course, passing the CPA exam is not easy, and many people fail the first few times they take the exam. If you want the best chance for success, you’ll need help from CPA exam review courses and other study materials.

4. Take advantage of fall recruitment.

The Big Four accounting firms often work hard to recruit promising young candidates to major colleges and universities, especially in the fall during Meet the Firms. Be sure to go to your college career fair and look for representatives from these companies. This could lead to a valuable opportunity.

5. Professional networking.

If you don’t attend a career fair or the Big Four don’t, you should try to seek participation through a career network. Meet other professional accountants in your area and get to know them. Joining an organization like Beta Alpha Psi is also highly regarded by the Big Four and can help you expand your network. If you have strong professional relationships, you greatly increase your chances of being hired, and if you’re not in the Big Four, you’ll certainly succeed at another company.

6. Get internship opportunities early.

Interns are not always hired full-time, but becoming an intern can significantly increase your chances of being hired. Consider accepting all of the internships offered by the Big Four, especially during your junior and senior years.

7, Find your niche.

You should also try to find a suitable position for yourself. Think about what makes you different from other competing candidates and highlight that uniqueness in your resume. For example, have you learned data analysis? Do you have a minor in another related field? Do you have skills or abilities that no one else will list?

8. Send your documents professionally.

If you follow the regular application process, always make sure to submit your documents professionally.
Make sure you have all the correct documents attached and review them for accuracy.

9. Have a backup plan.

Even if you follow all of this advice and look like a strong candidate on paper, there’s no guarantee you’ll get the Big Four job. So, having a backup plan in place is very helpful.

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Conclusion

As noted, one of the best ways to increase your chances of landing a Big Four job is to pass all four sections of the CPA exam as soon as possible. This exam is challenging even for experienced accountants, so it’s important to do your homework first. One of the best ways to prepare is to take Entri’s Practical Accounting course, which will introduce you to all the fundamentals and ensure you have all the good content and tools most necessary for success.