What are the differences between the Big Four accounting firms?

First things first, which accountancy firms make up the Big Four? That’ll be PwC, Deloitte, EY and KPMG. They’re world leaders in the industry. And good news: all of the Big Four operate in the UK. So, you’ve got the chance to join them. While they’ll work you hard, they’re fantastic places to gain your professional qualifications and start your career.

We’ll outline the differences between the Big Four accounting companies to help you choose between them. We’ll go into:

• A quick overview of the firms
• Their workplace cultures
• What roles there are for students
• Who they’re looking for
• Benefits
• Salaries
• Training

There’s a lot to know about the Big Four. To start, here’s a top-line overview of each firm:

PwC is prestigious and relatively traditional. It has a strong and established audit client base.

• Headquarters: London, UK
• FY 2024 revenue: $55.4 billion (US dollars)
• Approximate number of employees: 370,000

Deloitte has more revenue and more employees. You could say it’s the biggest of the Big. Deloitte gets a large chunk of its revenue from consulting.

• Headquarters: London, UK
• FY 2024 revenue: $67.2 billion
• Approximate number of employees: 460,000

EY is one of the larger companies by staff members, with a comparatively balanced spread of services.

• Headquarters: London, UK
• FY 2024 revenue: $51.2 billion
• Approximate number of employees: 400,000

KPMG is the smallest and most European-focused of the Big Four, although it still operates in 143 countries (so it’s hardly a start-up!). It has a strong consultancy and advisory side to complement its audit work.

• Headquarters: London, UK
• FY 2023 revenue: $36.4 billion (FY 2024 revenue hasn’t been published at the time of writing)
• Number of employees: 273,000

Ask any of the Big Four (or most companies) about their culture and they’ll tell you it’s like nowhere else. But when every business says they’re unique, they all end up sounding the same.

The best way to understand the cultural differences is by speaking to people who’ve worked for more than one firm. They’ll tell you what’s different.

Here are some points to keep in mind:

• PwC is particularly prestigious and the people working there know it. The firm’s reputation and solid audit business create a sense of stability.
• Deloitte has a smaller workforce than PwC in the UK and is keen to catch up. Deloitte has a greater focus on consultancy which means it’s always on the lookout for new projects. Their growth plans and consultancy angle create an ambitious, competitive, results-based culture.
• EY has a reputation for diversity, a comparatively good record for promoting women, and a history of supporting LGBTQ rights. It’s said to be one of the friendlier places to work.
• KPMG is well known for its excellent staff development with pass rates for key qualifications higher than the industry standard. Its culture is quirky with less pressure to fit into the stereotypical city graduate lifestyle.

All of the big firms offer:

• Work experience schemes. These are often held specifically to support talent from underrepresented backgrounds. All of the Big Four have diversity initiatives built into their early-career hiring.
• Summer internships. These internships are in the specific area of accounting you’re interested in. Over six to eight weeks, you’ll learn the ropes and work as part of the team. Make your mark and there’s a chance they’ll offer you a permanent role.
• Work placements as part of your uni degree. The Big Four are great places to spend your ‘year in industry’ – whether it’s a compulsory or optional part of your studies.

While the programmes are similar, each firm also offers distinctive opportunities. Here are a few examples:

• PwC offers Black Talent in Business, Women in Business and Advancing Social Mobility programmes for eligible first years on three-year courses (or second years on four-year courses). They also offer opportunities for school and college leavers.
• Deloitte hosts Spring into Deloitte work insight events (aimed at first or second years, depending on course length) to help students understand the careers available to them and get to know Deloitte’s inclusive culture.
• EY offers a programme called Discover EY, which features hybrid virtual and in-person events across the UK. The two-day events are open to Year 13 students (or S6 in Scotland) and all university undergraduates.
• KPMG runs a Women in Technology Insight Week aimed at getting female students involved in the technology and engineering side of the business.

Look out for the Big Four on campus during career events. Sometimes, they’ll offer skills drop-ins, information sessions and mock interviews.

All of the Big Four will be looking for grads with key career skills. Master your core skills (eg. organisation, communication, problem-solving) and you’ll go far – wherever you work.

When it comes to the specific qualities each company is looking for, it’s always worth paying attention to anything mentioned in their job ads or on their website.

Looking at what each firm says on their Bright Network employer pages will give you an idea of what they want from candidates (and what they’ll offer you):

• PwC – “We ask that joiners are eager to learn, with business awareness, intellectual and cultural curiosity and the ability to build strong relationships … Uniqueness and innovation is valued at PwC ...”
• Deloitte – “[You’ll be part of] a work environment where you’re encouraged to be your true self, you can dream bigger, think creatively and deliver real impact. And you can grow and progress every day – learning from the work you do, and the people you collaborate with.”
• EY – “When you join us, you’ll make an impact from the get-go. It doesn’t matter if you join us for a two-day or three-year programme — we have opportunities to match your passion and strengths and we’ll equip you with the tools, networks and experiences you’ll need to shape your future with confidence.”
• KPMG – “We’re an inclusive community who look out for each other. Everyone brings their unique experiences to create the best environment for themselves and others. Whether you’re into niche films or passionate about your pet iguana, we’re a “we” through and through.”

You’ll only find out the full details of benefit packages once you’re in the hiring process.

Expect to see benefits like private healthcare, life assurance, childcare vouchers and travel reimbursement. The exact policies will vary depending on the firm and your contract.

Look out for student joiner loans too.

You won’t always know pay details until you go for a role.

As the Big Four don’t publish their graduate starting salaries, you can’t find the info on their websites. You’ll get an idea by using third-party sites like Glassdoor or student forums, but what you’ll find online won’t always be accurate.

Wondering what to expect from a Big Four accounting salary? The pay ranges for qualified accountants in the four firms will also vary. Check out our guide to salaries in accountancy to get an idea of what you’ll earn.

Your first few years at any of the Big Four will be focused on gaining a professional qualification. Depending on your area of interest, you’ll become a Chartered Accountant, Chartered Tax Advisor or Actuary. If you’re going into consultancy, you don’t need a professional qualification but you’ll still undergo training.

All four firms believe in flexible development and acknowledge everyone learns differently – but they’ll have different takes on what that means.

The Big Four have a lot in common: the obvious thing being that they’re all big. Working for any of these companies as a grad is an impressive start to your career.

While the firms share similarities, they’re not the same. Every workplace is unique, so some will suit you more than others. Consider their different focus areas, the types of schemes available and the training methods they use. Comparing the Big Four will help you pick a favourite, but you’ll only get to know the differences once you’ve had experience with more than one. So, take advantage of their opportunities for students and graduates and get to know them. Dream big.

This article was last updated in December 2024. Revenue figures for future fiscal years and employee numbers are subject to change. All other information will also change over time.