Big 4 Aggressively Recruiting for Finance

As growth in traditional audit and tax work begins to plateau, the Big 4 are turning to investment banking advisory and management consulting work, according to BusinessBecause.com, which publishes articles about business school and MBA trends.

“Deloitte, EY, PwC and KPMG are all experiencing growth and actively recruiting our MBA students,” Larry Verbiest, associate director at Georgetown McDonough’s MBA Career Center, told Business Because. “The number of offers has been on an upward trajectory the last few years and we expect that trend to continue this coming year.”

A mergers and acquisition boom is fueling the hiring trend, says Paul Schoonenberg, head of MBA careers at Aston Business School. “As M&A activity has been very active over the last 12 months, the Big 4 firms have been expanding their teams,” he told Business Because.

Deloitte, KPMG and PwC all recently recruited executives from BNP Paribas, Deutsche Bank, and Rothschild respectively to lead the growth of their investment banking advisory practices.

Revenue outside of tax and audit already represents 20-30% of group revenue, but they are rebuilding consulting practices, with growth in those practices outpacing the growth of traditional management consultancies, according to analysts at Source Information Services.

Signs of the emphasis on more lucrative consultancy work, can be seen in the following consolidations: Deloitte acquired boutique strategy house Monitor Group; and PwC agreed to buy Booz and Company, a mid-tier management consulting firm now branded as Strategy&. “There has certainly been a lot of growth and M&A activity,” says Stephen Pidgeon at the Tuck School of Business.