Big 4 firms in India: Inside Deloitte, PwC, EY & KPMG career prospects, growth and salaries

• Pursuing a career at one of the “Big 4” firms namely – Deloitte, EY, KPMG, and PwC is a dream of many. 
• Why? Brand value, learning opportunities, diverse experience, networking potential, global reach, competitive compensation, and prestige make the Big4s an attractive option. 
• But which role should you start at? Or what kind of compensation do different Big 4s offer?
• Here is the hierarchy system, salary, and other details so that you can make an informed decision.

Big 4 India story 

PwC

The firm we know today as PwC is the result of a 1998 merger between Price Waterhouse and Coopers & Lybrand.

Headquartered in London, United Kingdom, today PwC is the second-largest professional services network in the world with a network of firms in 151 countries.

Its India story started way back in 1880 when Price Waterhouse & Co. opened its first office in Kolkata.

In 2022, PwC marked its 150th anniversary in India.

Deloitte

Deloitte, also known as Deloitte Touche Tohmatsu Limited, operates as a multinational professional services network.

With member firms spanning more than 150 countries and territories, Deloitte offers its services to a diverse clientele, including individuals, small businesses, large corporations, and governments.

In 1976, Deloitte Haskins & Sells entered India through a partnership with Gupta Choudhury & Ghosh, marking a formal presence.

Notably, as of 2023, Deloitte has offices in seven major cities across India.

KPMG

The merger of Peat Marwick International and Klynveld Main Goerdeler in 1987 marked a significant moment in the accounting world, creating the global professional services network we know today as KPMG.

KPMG is one of the largest professional services firms in the world, operating in 145 countries and territories.

Their diverse clientele encompasses multinational corporations, Indian companies, private equity firms, and government agencies.

In 1993, KPMG India was established as a joint venture between KPMG International and the Indian firm, BSR & Co.

EY (Ernst & Young)

EY (Ernst & Young), a multinational professional services network.

EY is the product of a merger between two separate accounting firms; Arthur Young & Co. and Ernst & Whinney. These two firms merged in 1989, forming EY.

With its headquarters located in London, currently it operates in more than 150 countries.

Its India story began in 1914 when Sorabji R. Batliboi set up the first office for the firm in Bowbazar Street in Kolkata.

Note: Combined revenues of EY, KPMG, Deloitte, and PwC crossed Rs 32,700 crore in 2023.

Service lines at the Big 4s

The Big 4 —Deloitte, KPMG, PwC, and EY—originally began as accounting and audit firms.

While they still provide traditional accounting and audit services, they have diversified into various other areas, including Management Consulting, Corporate Finance, Legal Services, and technology consulting (in the last two years all Big 4s have scaled to include Technology Services.)

They offer a wide range of technology-related services, including IT consulting, cybersecurity, digital transformation, and software implementation.

Their move into technology services reflects the increasing importance of technology in modern business operations.

If you also look at the revenue from top services over the last few years, the Consulting segment has been on a rapid rise.

These once-traditional Accounting and Assurance firms now compete with Indian IT firms like Capgemini etc.

Here is the revenue split of EY from FY 2016-FY2023; you will notice how the consulting revenue has been growing. Similar trends can be observed within other Big 4 firms as well.

Main service lines and their sub-divisions at The Big 4 

Designations and Salaries

In addition to fixed compensation, the Big 4s pay a considerably good bonus and that has gotten even better in the last two years.

When it comes to career growth and promotion several top-performing employees are provided fast-tracked promotions as well.

As of 2024, the time to become a Partner has considerably reduced. Earlier it was the late 30s and mid-40s, but now many in their early 30s as well do stand a chance to elevate to a Partner.

The Big 4 firms are often credited for driving up salaries for Chartered Accountants (CAs) in India. They offer competitive compensation packages that have significantly influenced the salary landscape for CAs.

Big 4’s Corporate Hierarchy and Required Experience

Note: The Big 4 offers entry-level positions such as Analyst/Specialist for Graduate Interns with a salary package of INR 4-7 Lakh. It then takes around 2-3 years to move up to the Executive/Associate positions, as shown above.

Future Hiring Prospects in the Big 4

The talent war among the Big 4 firms has turned fierce, due to unparalleled growth.

The Big 4 firms have promising scope for their operations in India and all of them are betting big on the Indian talent pool.

Deloitte India CEO Romal Shetty mentioned that he has plans to increase its existing team by hiring 40,000-50,000 new employees over the next few years.

PwC India aims to increase its talent pool by adding 30,000 new jobs within the next five years.

In an exclusive interview with ET, Yezdi Nagporewalla, the CEO of KPMG in India, revealed that the company plans to recruit 20,000 individuals over the next 2-3 years.

These new hires will be divided between KPMG’s India practice and its global delivery arm, KPMG Global Services (KGS).

In the fiscal year 2023, EY India’s consulting business successfully recruited over 11,000 professionals. This number includes both campus hires, with over 3,600 individuals, and experts.

Rohan Sachdev, the leader of Consulting Services at EY India, stated that due to their consistent growth, they plan to maintain a similar hiring level in the fiscal year 2024, according to Businessline.

Qualifications to join Big 4s?

Bachelor’s degree: Most Big 4 firms in India require a bachelor’s degree in a relevant field like accounting, finance, commerce, or business administration. Some might also consider other degrees like economics, statistics, or mathematical sciences.

Professional Accounting certifications: Pursuing certifications like CA, ACCA, CMA (Certified Management Accountant), CFA (Chartered Financial Analyst), and CPA (Certified Public Accountant) can significantly enhance your profile.

Tech degrees: Knowing digital transformation is highly appreciated. If you have expertise in current market technology and transformation trends such as Data Analytics, Cloud, Emerging Technologies, Digital Economy) is appreciated.

Big 4 will only get “bigger” in India?

India’s growth story is an opportunity for each one of us and surely the Big 4s are very keen on it.

The unprecedented surge in demand for consulting services across various sectors, substantial investments in digital capabilities, and the expansion of services and capabilities have increased the hunt for talented professionals.

We will see the most hiring for these roles

The Big 4 is currently seeking candidates for various positions including,

• Business Analyst
• Transactions
• Audit
• Tax
• Advisory
• Financial specialists
• Business operations consulting
• Sustainability & ESG consulting
• DevOps
• Data Science
• Cybersecurity
• Cloud tech
• Data Science

What do the leaders from the Big 4 India say?

Deloitte: ‘We aspire to increase our growth from Rs 8,000 (crore) to Rs 20,000 crore and expand our partner base to over 1,000 within four years. Deloitte India was the world’s fastest-growing member within the network, and we are sustaining this momentum.’ Romal Shetty told ET.

PwC:  ‘In the last six months, PwC has welcomed 16 new partners and executive directors to its risk practice, with 50% coming from Big 4 firms and the remaining 50% from non-Big Four backgrounds. We are constantly seeking exceptional talent,’ said Sivaram Krishnan, Partner, at PwC India.

EY: ‘The average growth in the consulting business in the last two years has seen upwards (50 percent) growth and this growth trajectory continues. Given our sustained growth, we will continue to hire at similar levels in FY24 as well.’ Rohan Sachdev, Consulting Services leader, EY India told Businessline.

KPMG: ‘We started our journey of re-focusing and revitalizing our advisory practice a few years ago. The steps we took a couple of years ago in digital, data analytics, ESG, and transformation services are paying rich dividends.’ Yezdi Nagporewalla told India Times.

Wrapping up…

Working in a BIG 4 in India can be a rewarding and challenging career choice for anyone interested in finance, accounting, consulting, or advisory services.

It offers a variety of opportunities for learning, growth, and exposure to diverse clients and sectors.

However, it also comes with some drawbacks, such as long working hours, high pressure, and intense competition. Therefore, carefully weigh the pros and cons and make an informed decision.

Which Big 4 are you joining and why? Tell us in the comments.