For many university graduates, starting a career at one of the renowned Big 4 accounting firms – Deloitte, PwC, EY and KPMG – is a great success. Known for their global presence and influence, these firms offer a wealth of opportunities that promise both career growth and impressive compensation. However, the coveted positions at these firms also come with several challenges that can potentially overshadow the benefits. It’s recommended that anyone interested in working at one of these firms look at the dual aspects of starting a career with the Big 4 and analyze whether the benefits outweigh the often strenuous demands.
The Attraction of the Big 4
The Big 4 are not only formidable players in the world of accounting, but also in global finance and management consulting. They promise high starting salaries, prestige, and extensive training opportunities that are highly attractive to top graduates 1. The recruitment process is as demanding as it is competitive, with high expectations from the outset. Graduates are drawn to these firms not only for the rapid career progression they offer but also for the opportunity to gain exposure to a range of industries and international markets.
The Reality of Working at the Big 4
As young professionals at one of the Big 4 you experience both the challenges and rewards of their work every day. Typically starting the day with a daily call at 8:30 a.m., during which the entire team connects via video conference. As all team members are spread across the world and mostly work remotely, these daily meetings at least enable a visual exchange, even if personal contact remains very limited.
A typical working day is characterized by fixed project responsibilities and tight deadlines. In addition to the main project work consultants usually have more responsibility than that. Preparing proposals for potential new projects or doing internal presentations, marketing events or sales. This added pressure to continuously generate new orders contributes to a high workload. Deadlines must be strictly adhered to in order to ensure client satisfaction and meet interim targets, which often leads to overtime and increased stress.
The media often portrays careers in the Big 4 as glamorous and prestigious, highlighting success stories and the high-profile nature of the work. Films, TV shows and newspaper articles often emphasize the attractiveness of these top firms, but often overlook the less glamorous aspects of the job, such as long hours and significant stress 2.
This glossy portrayal can obscure the real challenges consultants face. Although the structured promotions and increases in responsibility occur almost annually at the start of their careers, the long hours, high pressure to perform and frequent travel raise questions about sustainability and personal wellbeing 3.
Reassessing Career Choices
The turning point for many comes when they are faced with a work-life balance crisis. The relentless work schedule and constant pressure can lead to psychological stress and a dwindling sense of personal fulfillment 4. Professionals at this point are forced to weigh their career aspirations against their personal health and happiness. This crisis point forces a re-evaluation of whether the lure of the Big 4 is worth the personal sacrifices required.
In the face of these challenges, some professionals are beginning to look for change. They are looking within their organizations for opportunities for more flexible work arrangements or even considering a move to a position that offers a better work-life balance. This stage is crucial as it demonstrates the individual’s adaptability and potential recalibration of their career paths to better align with their personal life goals 5.
Starting a career with the Big 4 offers undeniable professional benefits, including excellent pay, prestige and unparalleled opportunities for advancement. However, the intense work environment and the challenge of finding a healthy work-life balance present significant hurdles. Whether a career in one of these companies is a blessing or a curse ultimately depends on personal priorities and how one handles the pressures of the job. This research is designed to give potential applicants a better understanding of what to expect and help them make informed decisions that align with their professional goals and personal well-being.
By providing a detailed analysis of the benefits and challenges of working at the Big 4 for graduates considering this career path, ensures they are fully informed about the realities of such a decision.
- Ian D. Gow and Stuart Kells, The Big Four: The Curious Past and Perilous Future of the Global Accounting Monopoly (Berrett-Koehler Publishers, 2018) ↵
- Pfeffer, Jeffrey. Dying for a Paycheck: How Modern Management Harms Employee Health and Company Performance—and What We Can Do About It. New York: HarperBusiness, 2018. ↵
- Andrew Edgecliffe-Johnson, Silin Chen, and Anjli Raval, “‘There is no work to balance’: how shrinking budgets, Covid and AI shook up life in consulting,” Financial Times, September 18, 2023. ↵
- Laurence Daoust, “Playing the Big Four recruitment game: The tension between illusio and reflexivity,” Critical Perspectives on Accounting 66 (2020) ↵
- Tijs Besieux, “Is Consulting the Right Career for You?” Harvard Business Review, July 1, 2020. ↵
