The most reputable public accounting firms across the world have unique characteristics. They operate for long hours and employees are not only engaged in ruthless internal competition but also from other firms. The firms are located in different parts of the world; therefore, you have to travel to gain a firsthand experience with these magnificent financial institutions. This article aims to discuss the history and characteristics of the different accounting firms. It will help you in your search to becoming and achieving the best in your finance career. Further information about The Basics Of Certified Public Accounting can be read by clicking at http://www.keselwest.com/basics-certified-public-accounting/
1. Price water house Coopers (PWC)
It was founded in 1998 and its headquarters are based in New York City. PWC has been ranked the best accounting firms on many occasions. Most people in pursuing a career in finance dream of joining this prestigious financial institution. It provides professional financial services through its different branches in 157 countries around the world. In addition, it has a workforce of approximately 208,000 employees. Some of the services that the company is dedicated to providing include forensics, human resources, and consulting services. PWC generates $ 35.4 billion on average each year making it the second largest accounting firm in the United States of America. Working for this company has its own advantages and disadvantages.
1) It provides many learning opportunities to those pursuing careers in the finance industry
2) Being among the fortune 500 companies, working in PWC is fulfilling
The only disadvantage is a high level of stress due to the unending chain of demands from clients that might push you to work during insane hours.
The company was founded in 1845 with its headquarters based in New York City. It has branches in 150 countries across the globe with approximately 220,000 workers and generates $ 35.2 billion every year. Each branch operates in accordance with rules and regulation of the country in which it is based. Deloitte provides four types of financial related services. They include consulting services, audit queries, advisory, and tax. Most of its clients are service professionals from cyber-security, human capital, technology strategy, strategy and operations, data analytic, and finance and accounting.
1) Has a reputation of hiring competent and self-motivated employees
2) Provides a favorable environment for teamwork and overall development of its workers. Nonetheless, if you decide to join Deloitte then you must ensure that your working hours are flexible. They do not have time predictability, therefore, you should consider long working hours as part of your life.
3. Ernest & Young (EY)
EY was founded in 1849 with its headquarters based in London. In 1906, Arthur Young opened an accounting firm in Chicago and named it Arthur Young & Co. In 1903, A.C Ernst founded Ernst & Ernst accounting firm. Even though the two founders never met, their firms joined four decades later to form Ernst & Young. Services offered by the firm include transaction advisory services, tax, and assurance. Some of the industry specializations that EY majors in include real estate such as leisure, hospitality, and construction; media and entertainment; technology; life sciences such as pharmaceutical and biotechnology; support to entrepreneurial businesses and clean-tech.
1) Varying clients who visit the firm provide a great learning opportunity to all the employees. The experience gained also adds a great value to resumes and portfolios.
2) It is one of the best places to work in with friendly colleagues and bosses.
3) Best of all, you get generous salary packages and allowances which are always reviewed upwards after some time.
A disappointing factor within EY is that a lot is expected out you as an employee in an environment that keeps your thinking capacity in a stagnant mode. This can raise your
KPMG was established in 1987 and its headquarters stationed in Amstelveen. It is one of the fastest growing public accounting firms with 155 branches in different countries. It has made 9,000 partners and boasts of 174,000 employees. KPMG offers industry specialization and services in audit, transaction advisory, and tax. Most of the firm’s clients are drawn from banking and finance, real estate, consumer goods and services such as food and insurance, healthcare industry, technology, government and public sector, and media.
1) The company operates in a family culture which provides great support to all employees
2) KPMG’s international presence is an opportunity for growth and professional advancement for both the clients and workers.
It is quite unfortunate that the firm has a poor brand image and is considered least prestigious in a list of the above-named firms. Also, there have been a few employees who complain of poor compensation from numerous traveling for official duties.
In conclusion, reputable financial firms are not the best in making profits but also the best contributors to the development of their employees. As mentioned in this article, the best four are PWC, Deloitte, EY, and KPMG. When choosing which one among them to join, it all comes down to preference. To read information about reputable financial institutions, click here.