The vast majority of people from an accounting background aspire to work for one of the Big 4 accounting firms. They usually have some questions in mind such as: “Which of the Big 4 accounting firms is best for you?” or “Which of the big four accounting firms will pay you the most?”
In this article, we will cover the salary and compensation packages of the top four accounting firms in NYC along with some other information, which may boost an individual’s career and salary package if they work for one of those top four firms.
in addition to their size.
Moreover, in addition to their size, these four firms are prominent and much sought after for employment possibilities.
Based on revenue, these four accounting firms in NYC can be ranked into the following:
⦁ Deloitte
⦁ PwC
⦁ Ernst & Young
⦁ KPMG
Let us discuss the salary package of the four big accounting firms in NYC, separately.
Read More: CPA Salary NYC
Big four Accounting Firms Salary Packages
Salary statistics may differ based on the department and location. Indeed, salary is frequently determined by the country, and more particularly by the city, rather than by the company itself. Although tax associates sometimes make considerably more than audit associates when they first start out, over several years of experience pay becomes relatively equal and truly depends on the individual’s overall performance.
In general, pay figures for the Big Four are frequently nearly equal, with only a few slight variations.
Let us now look at the top four accounting firms in NYC.
⦁ Deloitte:
Deloitte is one of the oldest accounting firms in NYC. It is also known as Deloitte LLP and Deloitte and Touche LLP. The success mantra for them is that over time multiple smaller firms were absorbed by Deloitte, either through merger or complete buyout. As a result, they have been identified as the powerful international firm capable of offering a competitive salary for prospective employees.
A Deloitte employee’s yearly pay ranges from $45000 to $60,000. However, in order to get better starting pay, an employee must participate in a Deloitte university program. However, a less experienced employee might expect a lower salary, but with yearly promotions and advanced certifications, this will undoubtedly alter with time. Some of the biggest awards received by Deloitte are as follows:
⦁ #11 on Fortune’s list of the 100 Best Companies to Work For in 2018.
⦁ #2 Most Prestigious Accounting firm, The Vault in 2019.
⦁ #2 on People Magazine’s Companies that Care in 2018.
⦁ #52 on Forbes’ list of the Best Employers for Diversity in 2019.
⦁ PricewaterhouseCoopers (PwC):
PricewaterhouseCoopers or PwC is the fifth biggest privately held accounting firm in NYC and the world’s second-largest accounting firm. They are a great choice for entrepreneurial accountants searching for a job, with over 180,000 workers and an average yearly profit of 31 billion dollars. For a position as an accounting associate at PwC, the starting pay would range from $48000 to $68000.
The amount of PwC salary and compensation is determined by factors like location and prior experience. Working as an intern with PwC or taking advantage of their training program and seminars, entitles you to a high starting pay.
PricewaterhouseCoopers or PwC provides a robust training program for potential workers, but unlike Deloitte, their programs are free and available to anybody.
Some of the biggest awards received by PwC are as follows:
⦁ #56 on Fortune’s list of the 100 Best Companies to Work For in 2018.
⦁ #1 Most Prestigious Accounting firm, The Vault in 2019.
⦁ #42 on People Magazine’s Companies that Care in 2018.
⦁ #49 on Forbes’ list of the Best Employers for Diversity in 2019.
⦁ Ernst & Young (E&Y):
Ernst & Young (E&Y), the world’s third-largest accounting firm in NYC, was formed in 1989 by the merging of Author Young & Company and Ernst & Ernst.
Despite various obstacles throughout its lifespan, Ernst & young has achieved remarkable revenue growth, with yearly earnings of around $26 billion. Their headquarters are in London, however, they have offices all around the globe. For an entry-level position, the average starting pay ranges from $40,000 to $63000.
Moreover, Ernst and Young are recognized for their employee diversity. So if you are looking for a diverse environment, Ernst & Young is the best accounting firm to start your career.
Some of the biggest awards received by PwC are as follows:
⦁ #52 on Fortune’s list of the 100 Best Companies to Work For in 2018.
⦁ #3 Most Prestigious Accounting firm, The Vault in 2019.
⦁ #13 on Fortune’s 50 Best Workplaces for Parents in 2018.
⦁ #58 on Forbes’ list of the Best Employers for Diversity in 2019.
⦁ KPMG:
KPMG, which was founded in Amsterdam, is a large accounting firm having offices in the United States, China, and India, to name a few. They employ almost 150,000 people and have an average yearly profit of $23 billion.
The salary range for a tax accountant at KPMG is $46000 to $62000. However, it is recommended that you stick with the organization for at least 5 years as then the salary will go up to $106,000.
Moreover, taking advantage of their free online training course and attending one of their college classes are two ways to ensure a better income pay.
KPMG, like Ernst & Young, offers a diversified business with foreign operations that provide a culturally rich working environment.
Some of the biggest awards received by PwC are as follows:
⦁ #29 on Fortune’s list of the 100 Best Companies to Work For in 2018
⦁ #4 Most Prestigious Accounting firm, The Vault in 2019
⦁ #14 on Fortune’s 50 Best Workplaces for Parents in 2018
⦁ #12 on Forbes’ list of the Best Employers for Diversity in 2019
Read More: Tax Refund Advance
Conclusion
It’s important to note that accountants’ incomes don’t stay stable for long. Employees who work hard and are devoted to their professions may expect to swiftly advance through the ranks at any of these four companies, with substantial salary increases along the way.
Even if one organization offers a lower starting salary than others, or if your starting salary is lower than you had anticipated, remember that your yearly compensation is likely to increase for the better.
When seeking workers, all of these firms have one thing in common: a respectable accounting or finance degree, a few years of experience, or an internship, and the potential employee is based in a metropolitan location such as New York City (NYC).
.
