Big 4 accounting firms are high paying and prestigious, but the best of the best are often the smallest. “Which accounting firms pay the most” lists our ranking of the highest paying accounting firms in the world. For a comprehensive list visit us.
Many of us have heard that hire a CPA but only a handful of them actually do it. So what are the reasons why people don’t hire accountants? Why is it that so many companies and businesses outsource their accounting needs to companies like the Big Four? The Big Four firms (Deloitte, PWC, Ernst & Young and KPMG) are by far the “biggest” accounting firms in the world today. They are made up of thousands of employees worldwide (each one of these accounting firm hold more employees than the next fifty largest firms combined). You can check out our infographic above to find out more information on them!
2022 Best Accounting Firms for Compensation#1Schellman & Co.
Tampa-based Schellman is the largest CPA firm specializing in attestation and certification services. New hires get extensive informal mentoring and “boot camp” training for certifications. Schellman places an emphasis on volunteering and giving back, and has active affinity groups that promote diversity for women, LGBTQ+ individuals, and people of color.View ProfileSCORE 9.4572021 Ranking #1
#2SCORE 8.2692021 Ranking #2
#3Friedman LLP
Manhattan-based Friedman has been ranked as one of the “Fastest Growing Firms” by Inside Public Accounting. The firm’s “Everyday Workplace Flexibility” program ensures that staff have a healthy work/life balance, and its “Formal Alternative Work Arrangement” program lets employees customize their schedules. Friedman is committed to giving back, and its Women’s Development Network holds various events for women on topics like financial planning and wellness.View ProfileSCORE 7.9352021 Ranking #4
#4Withum
Withum is an advisory, tax, and accounting firm headquartered in Princeton, N.J. Services include accounting, auditing, employee benefits, pension plans, tax, litigation support, business valuation, insolvency, transaction advisory services, and management consulting.View ProfileSCORE 7.8562021 Ranking #5
#5Grassi
Grassi is one of the 100 largest accounting firms in the U.S. Its interns get hands-on experience and work alongside senior managers. Its full-time staff have access to strong training, a great mentoring program, and a very generous benefit package. Grassi takes diversity and inclusion seriously, and has a women’s council that regularly holds events.View ProfileSCORE 7.8242021 Ranking #11
#6Plante Moran
Plante Moran is one of the largest and most highly respected U.S. accounting firms. For more than 20 years, it’s been one of Fortune’s “100 Best Companies to Work For.” The firm offers interns hands-on experience, networking opportunities with partners, and a “buddy” program. Full-time staff get to rotate through various areas and meet with seniors to speak about career goals. There are dedicated D&I groups for women, Black employees, LGBTQ+ individuals, and veterans.View ProfileSCORE 7.8022021 Ranking #3
#7CBIZ
CBIZ is one of the most highly respected accounting, tax, and advisory firms in the U.S. Its interns get a lot of responsibility, guidance, and opportunities to meet directors and partners. Its full-time staff have access to training conferences, professional development programs, and internal mobility options. The firm routinely gets involved in service activities, and is diverse with respect to women and LGBTQ+ individuals.View ProfileSCORE 7.7642021 Ranking #13
#8Armanino LLP
Armanino is the largest accounting and business consulting firm headquartered in California. Its interns get hands-on experience, great training, and the ability to interact with senior staff. Its full-time staff get access to an internal mobility program, a state-of-the-art training program, a tuition reimbursement program, and bonuses for passing the CPA exam.View ProfileSCORE 7.7632021 Ranking #16
#9Frazier & Deeter
Atlanta-based Frazier & Deeter is one of the 50 largest CPA and advisory firms in the U.S. Its excellent internship program offers students hands-on experience and the opportunity to learn alongside senior managers. Its full-time staff receive extensive structured and informal training and mentoring, and it’s easy to reach out to seniors for help and advice. Benefits are very generous, and include many wellness offerings such as in-office health screenings and group fitness challenges.View ProfileSCORE 7.7482021 Ranking #7
#10Moss Adams LLP
Accounting firm Moss Adams is looking for motivated self-starters with strong technical skills. The firm treats interns like full-time staff and allows them to learn alongside senior professionals. Career advisors and mentors help full-time staff navigate the beginning of their careers. Staff also get free Headspace subscriptions, gym memberships, and counseling.View ProfileSCORE 7.7432021 Ranking #14
Big 4 Accounting Firms Salary 2021
One of the big questions people ask when they consider a big 4 gig is whether the salary is good. They ask this because they know the hours can be very long when working at the big 4 firms. What we’ve put together is a resource where you can find all relevant big 4 accounting firms salary information.
CPA Starting Salary
The starting salary of a CPA is around $52,000 per year. How does this compare with a public accountant at one of the big 4 firms? See our analysis below.
PwC Starting Salaries
pwc starting salary
The starting salary at PwC is about $56,000 for audit associates.
PwC’s starting salary for tax associates is $62,000
PwC’s starting salary for advisory associates is $65,000
EY Starting Salaries
EY’s starting salary is $64,000 for EY audit associates
EY’s starting salary is $67,000 for EY tax associates
EY’s starting salary is $65,000 for EY advisory associates
Deloitte Starting Salaries
Deloitte’s starting salary for a Tax Associate is $61,000
Deloitte’s starting salary for an Audit Staff is 57,000
Deloitte’s starting salary for a consultant is $70,000
KPMG Starting Salaries
KPMG’s starting salary is $62,000 for tax associates
KPMG’s starting salary is $65,000 for advisory associates
KPMG’s starting salary is $57,000 for audit associates
Base on the data above it appears that all the big 4 are pretty even on how they pay their starting candidates. Those starting candidates earn well above the average CPA starting salary. In many cases, starting associates at the big 4 accounting firms earn more than the average CPA.
Big 4 Accountant Salary in 2021
Fortune recently released their best companies to work for in 2021. I think this website is pretty useful for people planning out their careers not just in accounting but in other areas as well.
The big 4 accounting firms are typically all on this list. It would be really hard for them not to be on this because of the amount of people they employ. Additionally the big 4 accounting firms make money off their employees, so they need to have as many of them as possible. Big 4 employees are also mostly all professionals. In other words, they are all white collar, full-time jobs. Therefore they have to have high end benefits to attract and keep their employees.
These lists are pretty good for determining the benefits that each big 4 has, but they aren’t the best in determining which accounting firm is the best to work for. I’ll be discussing that in other podcasts and posts on our website.
After looking at the information on this list though, I think they are pretty good at telling us some particular information though. The information that I think is very interesting is the average base salary. Each company has the opportunity to provide an average base salary for the most common job at the firm.
None of the accounting firms decide to disclose this number except for PwC. PwC disclosed that the most common position at their firm is associate. An associate at PwC can expect to earn about $65,000 for their base salary and about $5,000 in extra compensation. This extra compensation is most likely a yearly bonus or sign on bonus. This tells us a lot of information. For those of you wondering what salaries are like in the big 4, this is a good starting point. Based on my experience, this numbers seems very accurate to me. The only thing that doesn’t seem accurate to me is the extra compensation for an associate. Big 4 firms don’t typically provide 5,000 bonus to associates, so this seems like it might be either a sign on bonus for associates. It could also be the bonus for experienced associates. Another thing this tells us is bonuses aren’t that great at the big 4. They are less than 10%. I guarantee you with the economy in decline right now that the big 4 will be decreasing this amount. When I joined the big 4 firms during the financial crisis in 2008 and 2009, the big 4 decreased compensation for new hires. They decreased base pay in offers and they also decreased sign on bonuses.
I don’t know how much base pay will be decreased for new hires, but I can guarantee you that it will be decreased if the economy goes into recession.
CPA Salary
First up we’ll be talking about what the typical CPA salary is and then we’ll compare that to the largest big 4 firms below.
The median salary for a CPA according to payscale is $63,135. The average salary for a CPA according to payscale is $62,140.
average cpa salary
According to glassdoor the average CPA salary is 73,825.
According to the bureau of labor statistics the average median pay for accountants is $68,150.
According to the bureau the lowest 10% of accountants earned $42,410 while the top 10% earned $120,910.
The highest paying common occupations for accountants were in Finance and insurance. In finance and insurance accountants make $72,950.
In management of companies and enterprises, accountants make $70,790.
How does the average CPA salary compare to a big 4 accounting salary? Check out the big 4 accounting salary comparison below to find out.
Big 4 Salary Comparison
PwC Salary
We will be analyzing PwC’s salary by location. We will focus on the manager and senior associate titles as those are the titles with the most reliable data.
PwC San Jose Office Salaries
PwC Audit Manager in San Jose – $121,000 per year
PwC Tax Manager in San Jose – $ 120,000 per year
PwC Advisory Manager in San Jose – $130,000 per year
PwC Audit Senior Associate – $98,000 per year
PwC Tax Senior Associate in San jose – $93,000 per year
PwC Advisory Senior Associate in San Jose – $91,000 per year
PwC New York Office Salaries
PwC Audit Manager in New York- $122,000 per year
PwC Tax Manager in New York – $ 116,000 per year
PwC Advisory Manager – $139,000 per year
PwC Audit Senior Associate in New York – $105,000 per year
PwC Tax Senior Associate in New York – $93,000 per year
PwC Advisory Senior Associate in New York – $92,000 per year
PwC Washington DC Office Salaries
PwC Audit Manager in DC – $122,000 per year
PwC Tax Manager in Washington DC – $ 124,000 per year
PwC Advisory Manager in Washington DC – $132,000 per year
PwC Audit Senior Associate in Washington DC – $82,000 per year
PwC Tax Senior Associate in DC – $91,000 per year
PwC Advisory Senior Associate in DC – $85,000 per year
PwC Houston Office Salaries
PwC Audit Manager in Houston- $106,000 per year
PwC Tax Manager in Houston – $ 105,000 per year
PwC Houston Advisory Manager – $107,000 per year
PwC Audit Senior Associate in Houston – $78,000 per year
PwC Tax Senior Associate in Houston – $77,000 per year
PwC Advisory Senior Associate in Houston – $77,000 per year
Deloitte Salary
We will be analyzing Deloitte’s salary by location. We will focus on the manager and senior associate titles as those are the titles with the most reliable data.
Deloitte New York Office Salaries
Deloitte Audit Manager in New York- $113,000 per year
Deloitte Tax Manager in New York – $ 130,000 per year
Deloitte Advisory Manager – $152,000 per year
Deloitte Audit Senior Associate in New York – $73,000 per year
Deloitte Tax Senior Associate in New York – $87,000 per year
Deloitte Advisory Senior Associate in New York – $119,000 per year
Deloitte Los Angeles Office Salaries
Deloitte Audit Manager in Los Angeles – $109,000 per year
Deloitte Tax Manager in Los Angeles- $ 110,000 per year
Deloitte Advisory Manager in Los Angeles – $134,000 per year
Deloitte Los Angeles Audit Senior Associate – $67,000 per year
Deloitte Tax Senior Associate in Los Angeles – $79,000 per year
Deloitte Advisory Senior Associate in Los Angeles – $107,000 per year
Deloitte Chicago Office Salaries
Deloitte Audit Manager in Chicago – $92,000 per year
Deloitte Tax Manager in Chicago- $ 108,000 per year
Deloitte Advisory Manager in Chicago – $144,000 per year
Deloitte Audit Senior Associate in Chicago – $68,000 per year
Deloitte Tax Senior Associate in Chicago- $79,000 per year
Deloitte Advisory Senior Associate in Chicago – $123,000 per year
Deloitte Houston Office Salaries
Deloitte Audit Manager in Houston – $93,000 per year
Deloitte Tax Manager in Houston- $ 109,000 per year
Deloitte Advisory Manager in Houston – $150,000 per year
Deloitte Audit Senior Associate in Houston – $70,000 per year
Deloitte Tax Senior Associate in Houston $72,000 per year
Deloitte Advisory Senior Associate in Houston – $113,000 per year
Deloitte Phoenix Office Salaries
Deloitte Audit Manager in Phoenix – $91,000 per year
Deloitte Tax Manager in Phoenix – $ 105,000 per year
Deloitte Advisory Manager in Phoenix – $133,000 per year
Deloitte Audit Senior Associate in Phoenix – $60,000 per year
Deloitte Tax Senior Associate in Phoenix $82,000 per year
Deloitte Advisory Senior Associate in Phoenix – $118,000 per year
Where Do Accountants Earn the Most Money?
Accountants can earn a lucrative salary, especially if they work in the sub-sectors or cities, or areas listed below. It is a job that is needed in most industries and for the most part, all businesses. Most individuals only need a bachelor’s degree to get started in an accounting career.
On average, accountants and auditors earned a median annual wage of $73,560 as of May 2020, according to the U.S. Bureau of Labor Statistics (BLS) report. Actual wages might be higher or lower, depending on industry and location, but they are well above the national median average for occupations.1
Conclusion
Which accounting firms pay the most in the UK? Find out top pay, bonuses and pay scale information for UK finance jobs.