Want to work for the Big 4 after graduation? Here are the 5 top degrees
Ian Cooper
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These companies are perhaps best known for their accounting and advisory divisions. However, they also typically shine in areas like management consulting, tax, legal, M&A, and risk, providing a full suite of capabilities to serve client lists that include governments, major nonprofits, and some of the largest and most well-known companies on the planet.
The top firms in the sector, PwC, Deloitte, KPMG, and EY, are collectively known as the Big 4. Together, they generate almost $170 billion in annual revenue and employ almost 1.2 million people.
Now, what if you want to join one of them?
First, you should know what you’re getting yourself into. You’ll be working alongside some of the smartest, most talented people in the sector, and will likely get the chance to contribute to projects that make a significant impact on prominent clients. You’ll learn a ton and be challenged to grow and develop a broad, flexible skill set that will likely be quite lucrative down the road.
“I think the thrill of settling transactions and creating major commercial outcomes for clients is what keeps corporate lawyers going – it’s certainly one aspect that I find exhilarating,” says Susana Su, a lawyer in the corporate division at PwC who works on projects involving mergers and acquisitions, restructuring, global markets, and more. “It also helps that the people I work with at PwC Legal are such a supportive and cohesive team, so that makes me really look forward to my workday.”
All that opportunity comes at a price, though. You’ll have to put in long hours, with many graduates we surveyed reporting that they work 50-60 hour weeks, although this can vary depending on your role within a company. Accounting, in particular, is known for having a busy season and an off-season.
“Stress levels can certainly be high when it comes to crunch time and deliverable deadlines are imminent,” Su says. “but I think this helps motivate us to deliver optimum results to our clients and make sure that our advice and assistance are watertight.”
Despite the stress, you won’t get paid much at first. Average starting salaries in accounting and management consulting are both roughly $60,000. Law grads do a bit better at close to $66,000 (although this only applies to law grads working in a legal role).
However, those numbers can go up considerably as you climb the ladder. More senior positions at Big 4 firms tend to be compensated very well, with six-figure salaries and perhaps even bonuses. Plus, you’ll develop enough experience and contacts that you may be able to write your own ticket if you want to move on to another firm or try a new sector.
Now, if you want a shot at earning a graduate role in the Big 4, is there a specific degree you should pursue? Not just one, no. Because each company offers such a broad range of services, hiring managers need grads with a range of backgrounds.
However, when we surveyed over 1,000 grads working for a Big 4 firm, we did find some clear trends. The vast majority had studied one of 5 key areas — with roughly half holding one particular degree alone. Take a look!
The 5 most common degrees among grads hired by the Big 4
Top university majors based on our survey of 1,074 graduates working at Deloitte, EY, KPMG, or PwC.
1. Accounting, commerce, and finance
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No surprise here. The top accounting firms in the world tend to… hire a lot of accounting majors, who make up just over 50 per cent of all graduates brought aboard.
As a grad with a background in accounting, you’ll be able to jump in and contribute right away to one of your firm’s flagship services. Typically, you’ll be part of a team conducting audit or assurance work for one or more clients at a time. You may be involved in compliance, tax prep, performance, or even risk management, which could involve everything from ploughing through spreadsheets to leading client workshops.
One grad who works in forensic accounting for Deloitte shares that he works “across several investigations at any given time. My roles involve interviewing involved individuals, reading through obtained source documents, creating case chronologies, identifying gaps in our knowledge and obtaining such information, generating findings and report writing.”
He says that he especially enjoys the responsibility that comes with his position and his talented co-workers, but feels his employer could do more to bring the team together socially.
2. Computer science and IT
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As business becomes ever more reliant on software and virtual connection, large companies need all the IT help they can get. That’s where your computer science degree will push you to the head of the applicant line.
You may spend time designing in-house software solutions to improve performance within teams or divisions of your company. You could also help clients improve their own IT capabilities or solve tech-related issues. However, you won’t be limited to software development or IT roles if you don’t want to be — many of the grads we surveyed with a computer science background are now putting their keen logical thinking and problem-solving ability to work as analysts or consultants.
For one grad who works in platform engineering for Deloitte, the job can be genuinely exciting. “I get to build software that has real value,” he says, “and I get to work with bleeding-edge technologies.”
3. Law
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If you have a law degree but don’t want to work for a law firm or go into government, the Big 4 can be an enticing option. While you can become an in-house lawyer directly advising clients on legal issues, most of the law grads we surveyed had taken graduate jobs as consultants.
This comes with a broad range of responsibilities, most of which will put your background to good use. You may be involved with mergers and acquisitions, restructuring an organisation, helping to improve internal processes, managing risk — consultants tend to have their hands in many pots. Any of these, however, can benefit from your keen analytical mind and attention to detail.
A graduate consultant at EY who earned a degree in law now works in people advisory services. She says her days mostly consist of “drafting emails to be reviewed and liaising with clients to gather information.” She raves about the company’s flexible, accepting culture but notes that working for such a large firm can lead to confusion over who to go to with questions. Plus, “things can be slow to get done,” she says.
4. Economics
An economics degree gives you a broad, big picture understanding of markets and business that can be a major asset to your clients. Just under 10 per cent of Big 4 hires we surveyed studied economics, with many joining their firms as consultants or analysts.
You’ll be well-positioned to do things like study evolving industry trends to help your clients stay ahead of the competition. You can also put the same brain that helps you to understand large economic systems to work helping clients to improve their own systems and processes.
An economics grad who works at KPMG as a consultant enjoys his work on the risk management team. “As a risk consultant, day-to-day responsibilities involve conducting interviews with key client personnel to understand internal processes, testing of control operating effectiveness and reporting of findings,” he says.
He also shares that one major positive in his role is “the level of exposure to diverse clientele and engagements.” However, he notes that the pandemic and changes in work culture have meant that he gets fewer “client-site experiences as more engagements are turning virtually.”
5. Business and management
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Surprisingly, perhaps, business and management degrees are relatively uncommon among the Big 4. Less than 5 per cent of new hires have one, although that is still a higher rate than any other area of study not on this list.
Many business grads are hired with generic titles like associate, including one grad who works in assurance at PwC. He does a lot of what he describes as “emailing clients, completing basic admin tasks, completing fieldwork, and resolving issues regarding these things.”
He’s largely enthusiastic about his work, observing that he’s benefiting from on-the-job training, getting to work with a wide range of clients, plus great team members and managers. However, he says that in a role like his, you can expect long hours and low pay.
There’s more than one doorway to the Big 4
Reading through this list should make it clear that there is more than one way to begin a career at one of the Big 4. Getting your foot in the door may prove challenging — after all, you’re not the only grad looking to score a position — but if you’re willing to put yourself out there and be persistent, you may find that doors open.
If you’ve got one of the degrees above, you’ll be starting from a strong position. You can send in your applications confident that you’ve demonstrated skills like dexterity with numbers and data, analytical thinking and problem solving, an understanding of business, or up-to-date knowledge of technology that Big 4 companies find valuable. Meanwhile, if your degree is in something else, think about how you can emphasise similar skills on your CV anyway.
Opportunity is waiting!
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