• Former director at PwC and British Airways Michael Doolin has 36 years of experience in HR.
• He shares his advice for job-seekers who have been laid off and are interviewing for new roles.
• Doolin said it's important to frame the lay off as an opportunity and shared suggested scripts.

This as-told-to essay is based on a transcribed conversation with Michael Doolin, CEO of Clover HR and former human resources director at PwC, British Airways, and DPD in Ireland. The following has been edited for length and clarity.

A redundancy, also known as being laid off, is a forced exit and a permanent loss of employment that occurs when employers need to reduce their workforce.

I've been telling people bad news for nearly 40 years. It doesn't get any easier. I'm impacting the lives of the people in front of me, as well as their partners and family. It has a tremendous knock-on effect.

30 years ago, one of my previous bosses told me that I must never lose that sense of responsibility. Redundancies need to be handled very sensitively. It's important to me that the individual leaves the room with their head held high, knowing that they've been treated fairly and transparently.

It's not unusual to be made redundant. Most of the time, the employee has done nothing wrong. The average person will have 12 jobs throughout their career, and redundancies can happen in that time. Between July and September 2024, 90,000 people were made redundant in the UK.

In future job interviews, hiring managers will usually ask, "Why did you leave your last role?" Here's how to navigate having been laid off in an interview for a new job.

Be transparent

Don't avoid the question. Be upfront and say: "I left my previous company due to redundancy. There were a number of positions lost, and, unfortunately, I was one of those affected." Provide a clear and concise explanation of the circumstances, and give specifics about the scale of the redundancy if you know them.

Do not lie about layoffs. A skilled interviewer can see when people aren't being open. When you can see someone being dishonest as an interviewer, it gives negative signals about the candidate's character and resilience.

Be honest about your disappointment, but stress that you've moved on

It's fair to tell your interviewers that losing your job was a shock. You can say that it's a huge change, and that it's been disappointing or depressing. Expressing your feelings demonstrates emotional intelligence, showing that you can process challenges and learning from them.

Being open about the emotional impact of redundancy requires a balance. Ultimately, you should remain professional and focus on growth. Tell your interviewers that, after a period of reflection, you've moved forward. Interviewers typically respond positively to candidates who acknowledge their challenges while emphasizing how they've used the experience to grow and realign their career goals, not those who continue to be downhearted about their previous lives.

Focus on the positives

It's very possible to draw positives from your redundancy situation. It can be viewed through the lens of change: new skill opportunities, new ways of working, and new horizons.

For example, you can say: "I was sad to leave my employer of X years. I've reflected on that and realized that it gave me the opportunity to be in a room with you, talking about my vision for the future and the skills and experiences that I can bring to this team. I'm very excited about that.

"In a way, my redundancy has done me a favor because I'm enthused, energetic, and looking forward to the future. Possibly, it's a change I wouldn't have undertaken had I not been forced to, but I'm embracing it as an opportunity."

Remain professional

If you're feeling resentment or anger about your redundancy, you need to handle this outside the interview. Candidates should see the interview room as a shop window to facilitate their potential entry into a new career. You have to go into that opportunity with your best efforts. It is not the time to express anger or recrimination.

Don't criticize your previous employer. You can use adverbs like "sadly," "disappointingly," or "regrettably" when talking about your last job. The interviewer may pick up the subtle hints you weren't happy with how layoffs was handled.

Highlight your achievements

It's still important to discuss your achievements in your previous employment, even if you were made redundant. They don't go away. Share specific examples of how you met or exceeded expectations to reinforce your value and forward-thinking attitude.

Just because the business failed, it doesn't mean you failed. Be sure to share any details that give more context to the scale of the redundancy with interviewers.

Remember that redundancies are usually not the employee's fault

Most layoffs are due to changing market outlooks, foreign exchange movements, or world events outside one's control. Either way, redundancy is not something to be ashamed of.

Approaching an interview without shame around being laid off will allow you to present yourself positively, emphasizing your achievements and skills. By framing redundancy as an opportunity for growth, you demonstrate resilience and adaptability.

This mindset shows you can turn challenges into stepping stones, which can be appealing to prospective employers.

• Nearly 160 accounting execs and partners were asked about why firms were making more auditing errors.
• The auditors were split on whether a better work-life balance could reduce the number of errors.
• But they have to consider whether remote work could help attract Gen Zers amid an accountant shortage.

US accounting firms are split on how to deal with the shift to remote work, a report published by the Public Company Accounting Oversight Board, a government-backed audit-oversight board, has found.

The report, published last month, was part of the PCAOB's investigation into why auditing errors had surged following the pandemic and whether internal culture contributed. Though deficiency rates slowed in 2023, they've consistently risen since 2020. Accounting errors can lead to embarrassing and costly legal challenges and damage business integrity.

The report was based on inspections of quality-control systems and anonymous interviews with 156 executives and partners at six major firms: Deloitte, EY, KPMG, PwC, BDO, and Grant Thornton.

Sixty-four percent of respondents said that improving work-life balance for firm personnel improved audit quality.

However, roughly one-third of senior executives and partners from the six major firms surveyed said that contemporary remote- and hybrid-work culture had negatively affected auditing firms' quality control.

They said a loss of in-person interactions was making assimilation into the firm's culture more difficult, with newer recruits less attuned to the cultural importance of audit control.

Development opportunities were another concern, with some respondents saying firms were losing the "apprenticeship culture" they've traditionally favored.

"The delayed development of firm personnel affected productivity and made it difficult for some to meet deadlines and expectations," some respondents said.

At one of the audit firms, managers and partners were stepping down a level to do audit work traditionally performed by more junior personnel. This led to reduced scrutiny of the audit work, respondents said.

The Gen Z problem

Tied up with the questions about work-life balance and audit quality is another big issue facing accounting firms: how to attract Gen Z talent.

Respondents from all six firms said that "resource challenges" in terms of hiring were a factor in the increasing audit deficiencies or an overall concern for their companies.

In recent years, auditing firms have struggled to attract younger workers, who expect a better work-life balance.

"The younger generation have differing views on careers than their older counterparts, with many viewing their work more as a job, rather than a career, and are therefore more likely to leave the profession if presented with more attractive opportunities," the PCAOB said.

The American Institute of Certified Public Accountants says about 65,000 students in the US completed bachelor's or master's degrees in accounting in the 2021-22 school year, 18% fewer than a decade earlier. Of those who study accounting, only a portion become certified public accountants. About 30,000 people took the CPA exam in 2022, compared with nearly 50,000 people in 2010.

The fear of personnel leaving was one reason that return-to-office policies weren't being pushed at firms, some respondents said.

• EY, Deloitte, PwC, and KPMG make up the world's largest accounting and consulting firms — the Big Four.
• The sector is tackling a slowdown in demand, new regulatory pressures, and the need to adapt to AI.
• These are the four leaders who have made it to the top of the firms.

EY, Deloitte, PwC, and KPMG make up the world's largest accounting and consulting firms, known as the Big Four.

They're billion-dollar companies with a collective 1.5 million staff and influence over hundreds of industries.

In recent years, the Big Four have faced a series of challenges, including a downturn in demand after the height of the pandemic, shifting regulatory requirements, and the need to adapt their skills and services for the emerging AI future.

Two of the firms appointed new leaders in 2024. The process varies by firm but generally includes hustings, in which contenders present their vision to voters, a partner vote, and global board ratification.

These are the four people who now sit at the helm of the world's biggest professional-services firms.

PwC — Mohamed Kande

In July, Mohamed Kande was elected as PwC's global chair for a four-year term, becoming the first Black leader of a Big Four firm.

Kande is also the first PwC head to come from the advisory division, as opposed to the audit wing.

Kande was born and raised in the West African country of Ivory Coast. When he was 16, he moved to France alone to study. He worked at a PwC subsidiary called PRTM Management Consultants before joining the firm in 2011. He became a global advisory leader in 2019.

Kande took over leading PwC's 370,000 employees at a time when it appeared to be tightening purse strings amid the consulting slowdown. Partner payouts dropped and more PwC partners took early retirement at the end of the year. In October, The Wall Street Journal reported that the firm would make its first major layoffs since 2009 and cut 1,800 jobs.

PwC is also working to rebuild trust in the Asia-Pacific region following scandals in Australia and China.

"The need for reinvention has never been more urgent," Kande said in the firm's 2024 annual review.

In 2021, he wrote a 1,000-word essay on LinkedIn about the impact his race had on his career in professional services.

"Often, I had to work hard to be included because I was different. I have felt slight but sharp jabs about my accent and my name, accompanied by quieter, larger unspokens about my skin color," Kande wrote.

"I try to give the opportunities that others gave me," he added. "I try to bring them into the room, knowing that their diversity, their unique perspective is a strength and something to be valued."

Deloitte — Joe Ucuzoglu

Joe Ucuzoglu has been Deloitte's global CEO since January 2023.

Ucuzolgu, who grew up in Los Angeles, was CEO of Deloitte US from 2019 to 2022 before ascending to the top job. He was a college intern in 1997. He rose to become a senior advisor at the SEC before rejoining Deloitte in 2015.

Deloitte is the largest of the Big Four by both revenues and number of employees, with 460,000 staff.

In March 2024, Deloitte announced a major restructuring aimed at cutting costs and repositioning it for future success. It said it was "modernizing and simplifying" its core offering into four categories: audit and assurance, tax and legal strategy, risk and transactions, and technology and transformation.

Ucuzoglu told the firm's partners in an email that the reorganization would reduce the firm's "complexity" and "free up" more partners for client work instead of managing staff.

Under Ucuzoglu, Deloitte has taken steps to drive investment in green hydrogen, releasing a report in 2023 estimating that the energy source could become a $1.4 trillion global market by 2050 and arguing that it "is moving into prime position as a solution for hard-to-abate sectors."

The CEO continues to engage with clients. He's also a frequent speaker at the World Economic Forum, a member of the Business Roundtable, and regularly gives interviews on issues affecting the business community.

EY — Janet Truncale

Janet Truncale was elected as EY's global chair and CEO in July, making her the first woman to lead a Big Four accounting firm. She joined EY as an intern in 1991.

Prior to her election, Truncale had spent almost four years as the vice chair and regional managing partner of the Americas Financial Services Organization.

The New Jersey native now heads EY's global workforce of more than 400,000 staff.

In her first public statement as global CEO, she launched a new strategy called "All in."

"All in is not just a business strategy, it captures an attitude and way of working," Truncale said. Her focus on unity has come after EY was rocked by a failed plan to break up its consultancy and audit divisions into two units, known as Project Everest.

Truncale was named as one of the "25 Most Influential Women" of 2023 by the Financial Times, which described her as "a trust builder" and "an advocate of being down to earth."

Outside EY, she serves as board chair for Women's World Banking and is on the board of UNICEF USA and the US-China Business Council.

Truncale has a BSE from the Wharton School of the University of Pennsylvania and an MBA from Columbia University.

KPMG — Bill Thomas

Bill Thomas became KPMG's global chairman and CEO in October 2017. Three years later, he was unanimously reelected to a second term.

Thomas has more than a decade in executive-level leadership and was previously the chairman of KPMG's Americas region from 2014 to 2017.

The Canadian leads KPMG's 275,000 employees. The firm is the smallest of the Big Four.

Over the past seven years, Thomas has focused on overseeing the development and implementation of KPMG's global strategy. Under Thomas, KPMG has launched a $5 billion digital-strategy investment plan.

"Over the coming years, my focus will be on continuing to enable and empower these talented teams to achieve their full potential," he said in a statement released on his reelection in 2020.

KPMG's global annual revenues have grown by 45% since the year Thomas was appointed CEO. In its latest annual earnings, it reported annual revenue of $38.4 billion.

Thomas stays largely out of the media spotlight, giving few interviews. Before entering the business world, he studied science, which he says is "extremely relevant today as technology infuses every part of our business and the businesses of clients."

Do you work at the Big Four and have a tip or story to share? Contact this reporter in confidence at [email protected] or on Signal.

• PwC hosts "prompting parties" to help employees experiment with generative AI tools.
• The firm's chief learning officer said employees needed a safe, low-stakes format to experiment with it.
• PwC announced last year it was investing $1 billion over three years to expand its AI capabilities.

Generative AI is reshaping the workplace, but many employees are still unsure how to use it.

PwC, a Big Four professional services firm, is addressing that gap with "prompting parties."

In 2023, PwC announced it was investing $1 billion over three years to expand its AI capabilities. Later that year the company launched My AI, an upskilling initiative for employees to get trained on how to use AI responsibly.

But Leah Houde, the chief learning officer at PwC, told Business Insider that after the initial AI trainings, there was still a skill gap when it came to employees actually putting the technology to use, even though employees wanted to know more about how to use it.

In 2024, AI was among the top five terms searched in PwC's internal learning and development platform, compared to being in the top 15 in 2023 and not even in the top 100 in 2022, PwC represenatives told BI.

"The cognitive load that it takes to just try something new in the course of doing what you're normally doing is hard," Houde said, adding that many employees just didn't know where to start with AI prompts, which are the written instructions given to an AI tool in order to elicit a useful response.

People needed a safe, low-stakes place to play with the tools. That's where the AI prompting parties came in.

The group sessions, which can be run independently amongst teams or by a company AI leader, are aimed at making employees comfortable using AI tools like Microsoft Copilot and ChatPwC — the company's internal version of ChatGPT.

The sessions focus on real use cases, so employees can collaboratively experiment with using AI to help them solve a problem or accomplish a task that's specific to their team.

Houde said the sessions are like a "playground where I'm not working on a client deliverable or writing an email to my boss or something that might give me anxiety that I don't want to mess up with AI."

She said experimenting in a group setting also allows employees to learn from each others' prompts, giving them new ideas about what AI can do. It's also made them more likely to try out AI on their own time too, Houde said.

Since launching in March, PwC said it has hosted nearly 500 prompting parties and over 880 more have been requested, so they are scaling up to meet the demand.

Houde said becoming familiar with AI was especially important for employees at PwC as a professional services firm, since the company's clients often turn to its employees to get their own questions about AI answered.

Workforce experts previously told BI's Tim Paradis that getting employees up to speed with AI is necessary, and that it will require the help and investment of employers.

A survey published by Slack in November found the rate of AI adoption among desk workers had plateaued, despite companies continuing to invest heavily in AI for their business.

But Houde said it's not just AI or other technical skills that employees at PwC want more training on. Terms like "inclusion" and "inclusive mindset" are among the top searched on the company's training platform every year.

"The thing that it says to me is that the human interaction is always going to matter," she said.

Going forward, Houde said she's most excited about how AI can be used to create personalized learning and development plans for people based on their current skills and where they want to go in their careers.

Instead of generically recommending the same trainings to everyone, AI can flag trainings that are most relevant to each individual.

"AI is now enabling us to understand the skills our people have and make connections between the skills that they have and the skills that they're going to need to progress," Houde said.

Have a news tip or a story to share? Do you work in consulting or have you worked with a consulting career coach? Contact this reporter at [email protected].

• The Big Four firms reported revenue growth in 2024, but consulting lagged behind other services.
• The firms reported more growth in tax and legal services as demand for consulting slowed.
• PwC cited market factors and political uncertainty as reasons for slower growth in consulting.

The Big Four professional-services firms — PwC, Deloitte, EY, and KPMG — all reported revenue growth this year, but growth in their consulting arms lagged compared with their other services.

After experiencing a boom during the pandemic, the consulting industry has faced economic headwinds and slowing demand over the past couple of years. Major firms have conducted layoffs, delayed start dates, and cut partner pay.

Financial reports released by the Big Four professional-services firms throughout the year indicated that their consulting arms grew slightly, but not as much as their legal, tax, and assurance businesses.

In October, PwC said several factors were contributing to the slower growth in consulting.

"A continuing slow market for mergers and acquisitions, sluggish economic growth in a number of key markets and political uncertainty holding back investment in some key projects meant that the growth of our advisory operations slowed over the last twelve months," its report said.

KPMG, the last Big Four firm to report 2024 financials, reported the highest overall revenue growth, at 5.1% year over year.

Here's a breakdown of how the Big Four firms performed this year.

Deloitte

• Fiscal year end: May 2024
• Global revenue: $67.2 billion
• Revenue growth year over year: 3.1%

• Revenue growth by category:

  • Tax and legal: 8.7%
  • Audit and assurance: 4.1%
  • Consulting: 1.9%
  • Financial advisory: - 3.8%
  • Risk advisory: 3.2%

PwC

• Fiscal year end: June 2024
• Global revenue: $55.4 billion
• Revenue growth year over year: 3.7%

• Revenue growth by category:

  • Tax and legal: 6.3%
  • Assurance: 3.4%
  • Advisory: 2.6%

EY

• Fiscal year end: June 2024
• Global revenue: $51.2 billion
• Revenue growth year over year: 3.9%

• Revenue growth by category:

  • Assurance: 6.3%
  • Tax: 6.3%
  • Strategy and transactions: 2.3%
  • Consulting: 0.1%

KPMG

• Fiscal year end: September 2024
• Global revenue: $38.4 billion
• Revenue growth, year-over-year: 5.1%

• Revenue growth by category:

  • Tax and legal: 9.6%
  • Audit: 6.2%
  • Advisory: 2%

Have a news tip or a story to share? Do you work in consulting? Contact this reporter at [email protected].

• The Big Four — EY, Deloitte, KPMG, and PwC — are the world's largest accounting and consulting firms.
• They pull in billions annually but have faced a slowdown in demand for their services.
• This is how the Big Four have performed in recent years, and how they're looking to adapt in future.

Deloitte, EY, KPMG, and PwC are the world's largest accounting and consulting firms, known as the Big Four.

With histories dating back to the 19th century, they have grown into billion-dollar companies employing hundreds of thousands of staff who earn high salaries and often work very long hours.

The Big Four offer companies services such as workforce transformations, reshaping corporate finance portfolios, assurance, valuation, and optimizing the use of technology.

Put simply, they're there to assess businesses and tell them how to run more efficiently.

The pandemic changed the landscape for the major firms, with a surge in demand that sparked a hiring boom. The Big Four are now attempting to balance operations amid slowing demand.

Here's a look at where the Big Four stand.

EY

After a series of mergers, EY was formed in 1989 as the accountancy firm Ernst & Young. It has since diversified its offerings and, in 2013, rebranded to EY.

Headquartered in central London, EY has more than 700 offices in 150 countries. Janet Truncale, the global chair and CEO, took over from Carmine Di Sibio in July.

EY focuses heavily on consultancy and assurance but also covers tax and strategy, and transactions.

Revenue was up 3.9% on the previous year to $51.2 billion, according to the firm's latest annual report published in October. It was EY's poorest performance since 2010. Assurance services were its largest revenue generator.

In May 2024, the firm was caught up in a scandal along with PwC and fined $11.7 million by UK authorities for a series of auditing failures.

As pressure has mounted, EY cut UK partner payouts by 5% and laid off employees. Overall employee numbers dropped by 2,450 during EY's latest financial year — the first decrease in 14 years.

EY's global head count now stands at about 393,000.

In 2023, the firm launched EY.ai, an AI platform aiming to assist clients across all its professional services. It also offers clients a conversational AI assistant called EYQ.

Deloitte

Deloitte is the largest of the Big Four by both revenue and employees.

Founded in the UK in 1845, Deloitte expanded into the US in 1890. It is headquartered in London and has more than 700 offices in some 150 countries. It's known for strong business and technology consulting services.

Joe Ucuzoglu has been its global CEO since 2022.

In March, Deloitte announced a major restructuring aimed at cutting costs and repositioning it for future success.

It is "modernizing and simplifying" its core offering into four categories: audit and assurance, tax and legal strategy, risk and transactions, and technology and transformation.

Global revenue climbed 3.1% to $67.2 billion in the 2024 financial year, but, like EY, that performance was far lower than the 14.9% growth in 2023.

The slowdown has affected partner payouts, which fell by 4.5% to about $1.27 million. Equity partners took home roughly $63,000 less than they did a year ago.

Deloitte's global workforce expanded to 460,000 in 2024, an increase of 3,000.

Deloitte has pledged to invest $3 billion in AI by fiscal year 2030 and has partnered with technology industry leaders Nvidia, Google Cloud, and AWS to develop its client offering.

PwC

PwC is often considered the most prestigious of the Big Four, and topped the latest Vault Accounting 25 ranking.

Officially formed in 1998 from a merger between Price Waterhouse and Coopers & Lybrand, PwC's headquarters is almost opposite EY's main office in London.

Mohamed Kande has been the global chairman since July.

PwC has three core lines of business — assurance, advisory, and tax and legal services — but the firm is particularly known for its strong and well-established audit client base.

It employs more than 370,000 people in 149 countries and territories.

In 2021, PwC committed to creating over 100,000 net new jobs over a five-year period, and in October 2024, it said it had already hit three-quarters of that target.

PwC was the second-highest earning of the Big Four, posting record gross revenue of $55.4 billion and 3.7% annual growth in the year to June 30.

Though not as stark a slowdown as Deloitte or EY, growth at PwC still dropped noticeably compared to the 9.9% rise reported for the previous 12 months.

A number of high-profile scandals in the Asia-Pacific region involving its work with the Australian and Chinese governments damaged business.

To handle the changing environment, PwC cut partner pay by 5%, leaving partners taking home an average of $1.09 million this financial year.

In October The Wall Street Journal reported that the firm would make its first major layoffs since 2009 and cut 1,800 jobs.

PwC has invested $1.5 billion to expand and scale its AI capabilities. In February 2024, it unveiled a tax AI assistant for 2,300 PwC tax professionals in the UK to use.

KPMG

The smallest of the Big Four in terms of revenue and employees, KPMG is headquartered in Amsterdam and has a long-serving leader in chairman and chief executive Bill Thomas.

Its core services cover audit, tax and legal, and advisory.

The last of the Big Four to report its 2024 results, KPMG reported in December that in the 12 months to September 30, it saw revenues of $38.4 billion, a rise of just over 5% compared to 2023.

Overall, its revenues are the lowest among the Big Four, close to $20 billion less than its three competitors.

KPMG has faced scrutiny across several markets for its auditing and accounting work. In 2023, it was fined a record $26 million in the UK after "exceptional" failures in its accounting work.

Employee numbers grew by just over 1% in the 2024 financial year to reach 275,000. That's 185,000 people fewer than Deloitte.

Over 2024, KPMG has made a series of layoffs. About 330 staff, or 4%, were cut from its US audit practice; 5% cut across advisory, tax, and back-office functions; and 2% from its advisory workforce in 2023, according to Accountancy Age.

KPMG said it is looking to invest more in specialist roles in areas like ESG, tax, and technology.

While it lags behind in revenues, the firm is seen to foster a less cutthroat workplace than its competitors. The firm has said it aims to have women in a third of partner or director roles by 2025.

According to its latest report, women hold 29.9% of leadership roles.

What's your experience of working at the Big Four accountancy firms? Contact this reporter in confidence at [email protected]

• The "Big Four" accounting firms employ about 1.5 million people worldwide. 
• Many of these employees make six-figure salaries and are eligible for annual bonuses.  
• Business Insider analyzed data to determine how much employees are paid at these firms. 

The so called "Big Four" accounting firms — Deloitte, PricewaterhouseCoopers (PwC), KPMG, and Ernst & Young (EY) — are known for paying their staff high salaries. 

An entry-level consultant who just graduated from business school can make over $200,000 a year at the four firms when you include base salary, bonuses, and relocation expenses. 

Several of these firms have faced layoffs and implemented hiring freezes over the past year as demand for consulting services has waned. Still, they're a good bet for anyone looking to land a six-figure job straight out of school. 

Business Insider analyzed the US Office of Foreign Labor Certification's 2023 disclosure data for permanent and temporary foreign workers to find out what PwC, KPMG, EY, and Deloitte paid US-based employees for jobs ranging from entry-level to executive roles. We looked through entries specifically for roles related to management consulting and accounting. This data does not reflect performance bonuses, signing bonuses, and compensation other than base salaries.

Here's how much Deloitte, PwC, KPMG, and EY paid their hires.  

Deloitte paid senior managers between $91,603 to $288,000

With 457,000 employees worldwide, Deloitte employs the most people of any of the 'Big Four.' It pulled in close to $64.9 billion in revenue for the 2023 fiscal year, marking a 9.4% increase from 2022.

Deloitte did not immediately respond to a request for comment on its salary data or 2024 hiring plans.

Here are the salary ranges for consulting and accounting roles: 

• Analyst: $49,219 to $337,500 (includes advisory, business, project delivery, management, and systems)
• Senior business analyst: $97,739 
• Audit and assurance senior assistant: average $58,895
• Consultant: $54,475 to $125,000 (includes advisory, technology strategy, and strategic services)  
• Global business process lead: $180,000 
• Senior consultant: average $122,211
• Manager: average $152,971
• Tax manager: average $117,268
• Senior manager: $91,603 to $288,000  
• Managing director: average $326,769
• Tax managing director: average $248,581
• Principal: $225,000 to $875,000

Principals at PricewaterhouseCoopers (PwC) can make well over $1 million.

PricewaterhouseCoopers (PwC) is a global professional services firm with over 370,000 employees worldwide. The firm reported a revenue of more than $53 billion for the 2023 fiscal year, marking a 5.6% increase from 2022. 

PwC did not immediately respond to a request for comment on its salary data or 2024 hiring plans.

Here are the salary ranges for both consulting and accounting roles. 

• Associate: $68,000 to $145,200
• Senior associate: $72,000 to $197,000 
• Manager: $114,300 to $231,000
• Senior manager: $142,000 to $251,000 
• Director: $165,000 to $400,000  
• Managing director: $260,000 to $330,600
• Principal: $1,081,182 to $1,376,196

KPMG offers managing directors anywhere between $230,000 to $485,000

KPMG has over 273,000 employees worldwide. The firm reported a revenue of $36 billion for the 2023 fiscal year, marking a 5% increase from 2022. 

KPMG did not immediately respond to a request for comment on its salary data or 2024 hiring plans.

Here are the salary ranges for consultants, accountants, and leadership at KPMG. 

• Associate: $61,000 to $140,000
• Senior associate: $66,248 to $215,000
• Director: $155,600 to $260,000
• Associate director: $155,700 to $196,600 
• Specialist director: $174,000 to $225,000
• Lead specialist: $140,500 to $200,000
• Senior specialist: $134,000 to $155,000
• Manager: $99,445 to $293,800
• Senior manager: $110,677 to $332,800
• Managing director: $230,000 to $485,000

Statisticians at Ernst & Young (EY) make salaries ranging between $66,000 to $283,500.

EY employs close to 400,000 people worldwide. For the 2023 fiscal year, the firm reported a record revenue of $49.4 billion, marking a 9.3% jump from 2022. 

The firm did not immediately respond to a request for comment on its salary data or 2024 hiring plans.

Here are the salary ranges for consultants, accountants, auditors, and chief executives at the firm: 

• Accountants and auditors: $54,000 to $390,000
• Appraisers and assessors of real estate: $166,626 to $185,444
• Computer systems analyst: $62,000 to $367,510
• Management analyst: $49,220 to $337,500
• Statistician: $66,000 to $283,500
• Financial risk specialist: $62,000 to $342,400
• Actuaries: $84,800 to $291,459
• Economist: $77,000 to $141,000
• Logisticians: $72,000 t0 $275,000
• Mathematicians: $165,136 to $377,000
• Computer and information systems manager: $136,167 to $600,000
• Financial manager: average $320,000

Aman Kidwai and Weng Cheong contributed to an earlier version of this post. 

• Dozens of UK partners at PwC will take early retirement in December, Sky News reported.
• The larger-than-usual cohort comes as Big Four firms grapple with declining revenues.
• Partner payouts at PwC also took a hit this year, declining by 5%.

More PwC partners than usual will take early retirement at the end of this year, marking another shake-up at the firm's UK division since the appointment of a new boss, Marco Amitrano, in Spring.

PwC's 1,030 UK partners were informed this week via a voice memo from Amitrano that dozens of partners would take early retirement next month, Sky News reported.

The cohort of early retirees was larger than usual, though one insider disputed that the numbers involved were "significant," Sky News reported.

The Big Four firm appointed 60 new UK partners earlier this year.

Senior employees at the Big Four consultancies — Deloitte, EY, KPMG, and PwC, all of which are privately held — can be promoted to partners, and some are offered equity ownership in the business. In addition to salary and bonuses, equity partners traditionally receive a share of annual profits.

The jump in partners taking early retirement follows a series of changes following Amitrano's elevation to senior partner for the UK and Middle East in April.

Amitrano has launched an overhaul of operations in the UK, including creating a standalone technology and artificial intelligence unit and merging other parts of the business to create six new teams, the FT reported in October.

Almost all the major consulting firms have been grappling with a slowdown in business this year following the end of the pandemic-era rush on advisory services. The firms have been restructuring divisions, laying off employees, and making cuts to limit revenue decline.

Partner payouts have been one area targeted for cuts at EY, Deloitte, and PwC. UK partners at PwC took home an average of £862,000 (about $1.1 million) this financial year, 5% less than they did in 2023.

PwC, which is the largest of the Big Four by revenue in the UK, is also facing higher taxes per employee after the country's recently elected Labour government increased the rate of national insurance contributions (a tax on earnings) employers must pay.

PwC declined to comment.

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