Big 4 Audit Career Path

The Big 4 Accounting Firms

PwC, Deloitte, EY, and KPMG dominate the auditing industry across the globe, especially in the US. Getting your foot in the door at one of these prestigious firms can set you on an exciting career path in auditing and open up opportunities within the company and beyond. This article explores the typical Big 4 career path in auditing and what you can expect at each stage, from intern to partner.

Internship and New Associate Program

The best way to launch your Big 4 auditing career is through an internship while you are still in college. These extremely competitive programs allow you to experience the auditing workload firsthand while gaining invaluable training. Full-time job offers are extended to nearly 90% of eligible interns, allowing you to bypass the usual on-campus recruiting process.

As a first year audit associate, you will be immersed in a formal training curriculum covering auditing methodologies and processes in depth. You’ll also be assigned to audit engagements visiting client sites to observe and assist the audit team. The learning curve is steep but rewarding – first year Big 4 auditors can expect an average base pay of $60,000.

Core Auditor Role

After completing the initial training, you will transition into the core auditor role typically lasting 3-5 years. Here you will take on more responsibility by managing your own components of audit engagements. Face time and travel to client sites ramps up during this phase. However, the tradeoff is invaluable hands-on experience auditing major accounts across diverse industries.

Not only will you become an expert auditor, but these years also allow you to build relationships and influence across the firm to advance your career. Promotions from associate to senior associate and finally manager are earned by demonstrating technical capabilities and leadership skills. Base pay also grows rapidly from $65K to over $100K on average at the manager level.

Senior and Leadership Roles

After achieving manager status, top performers have the opportunity to be promoted into senior and eventually partner-level roles. Only a select few make it to these prestigious positions which come with significant pay increases but also greater responsibility.

Seniors serve as trusted advisors to client executives and rising stars within the firm. They mentor junior auditors to improve efficiencies while working to strengthen existing client relationships. Partners focus more externally by driving new business and expanding service offerings to meet client needs. They must also contribute heavily towards firm leadership and strategy.

The monetary rewards at this stage are immense, with Big 4 partners earning multi-million dollar salaries on average. However, the path is long and advancement is fully based on performance. Only the most dedicated auditors ascend to these coveted roles. Those seeking better work-life balance often opt for director or managing director positions instead.

Exit Opportunities

While most look to climb the corporate ladder at their Big 4 firm, the brand on your resume also opens plenty of exit opportunities. Many leverage their auditing expertise to pivot into finance or consulting roles either internally or at other major corporations.

Additionally, the in-depth business insights and relationship-building skills gained make Big 4 alumni extremely attractive candidates for executive positions in client companies or industry startups. Although the failure rate of startups is high, those that succeed can provide major financial windfalls down the road.

The Bottom Line

Starting your career at a Big 4 accounting firm sets you up for success across a myriad of industries. The intensive auditor training curriculum accelerates both your hard and soft skills to make you highly marketable. However, the career path is intense. Making manager is the first major milestone which gates your shot at senior roles.

Transitioning from technically focused auditor to big picture strategic advisor ultimately determines who ascends to partner. If you can navigate the challenges, the rewards of rising within the Big 4 are well worth the effort.