The higher authorities working in the big four firms, directors and senior managers get top salaries in the finance industry. Big Four partners also get high-level income. The general thought is that the managers are permanent employees and business partners are for temporary work. The fact is that in terms of monetary benefits and job security, both hold the same rank. The big four partners are responsible for a small portion of the company. They have the ownership and income in the company. Finance professionals are interested in doing independent practice and working for the big four firms as partners. The blog is worth sharing among aspiring finance professionals. The students from CMA and CA courses are interested in exploring the options for the job roles.
Skills of Big Four Partners
The characteristics of a partner come from a modest background. They would like to call them self-made men. Accountants prove their job skills and win the competition. Partners are from diverse qualifications and work in specialised areas. All over the world, the four firms Deloitte, EY, KPMG, and PwC have offices. Junior managers know the tactics of building a team and managing a team. Apart from qualifications, experience and skills are essential to enter into a big firm as a partner. The services of big four firms are as follows: taxation, audit assurance, management consultancy, corporate finance, market research, valuation, and legal services. PWC has its head office in London. The company has a network in 152 countries. Around 328,000 people are working in the company. The services offered by the company are tax services, assurance and advisory.
Deloitte has its head office in England. The company operates with the largest linked network. The wide range of services offered by them are as follows: strategy consulting, risk assurance and management consultancy. Ernst and Young has its head office in London. EY has the highest revenue growth among the other big four firms. KPMG has the best consultation and advisory service. It is the smallest among the other Big Four firms. Big Four firms. The big four firms have a reputation, geographic coverage, professional services, expert knowledge, and corporate culture.
Apart from qualification, the big four business partners should have career goals and personal interests. The following points explain the skills of a Big Four partner.
• Business partners work for the vision and mission of the company. The business partner should commit to the firm. They handle the clients with a sense of responsibility. They impress the client to maintain the brand name of the big four firms.
• Big Four partners should coach, mentor and communicate with the team. The leadership skills make the partners stand out from the crowd.
• Technical knowledge is essential to understanding advanced-level issues. Big Four firms give more importance to technical knowledge.
• Big Four firms expect the business partner to be commercial. The soft skills and commerciality attract the clients. The client service depends upon the simplest and cheapest solution for a problem.
• Big Four firms also deal with politics and relationship issues. Emotional intelligence is essential to understanding the roots and wings of the companies.
• Big Four firms select candidates with high qualifications and self-confidence. Students from big universities and schools have self-confidence. Self-confidence comes from qualifications and experience.
• Big Four firms select partners with resilience. The quality of being resilient helps individuals handle downturns.
The work culture of Big Four firms:
The work culture in the Big Four firms revolves around quality standards. The clients are from big corporations with high expectations. Client delivery has a deadline. The partners and top officials work with a commitment. The promotion policies in Big Four firms are rigid. The following pointers prepare the professionals for the working environment of the big four firms.
• Big Four firms expect the business partners to travel to the client’s place. Partners handling big clients travel to a single location. Partners with small clients travel to multiple locations. In auditing and tax advisory, the specialised area of practice is the reason for the appointment of business partners. Business partners travel depending upon the client allocation and area of practice.
• Business partners work with a commitment. The work of business partners reflects the quality standards. They get flexibility in the work. The partnership offers the flexibility to work with time factors and quality standards.
• The clients of the big four firms offer the best learning experience. The new clients thrust the professionals towards confidence, talent and new things. The business partners learn new things from the clients. The professionals learn new things about finance management, internal control, tax policy and technology. Business partners continue to learn on-the-job roles. This experience makes them industry-ready.
• The business partners understand the international job market. The professionals understand the latest subjects like data analytics, artificial intelligence, forensic audit, and international taxation. The knowledge from client exposure makes them understand the value of international accounting jobs.
• Big Four firms offer job security to business partners. The professionals working as business partners have high qualifications and experience. The business partners work with job security. As the business is large, the employment and revenue are continuous in the big four firms.
Experience with Big Four firms is a boost in student’s career. Students want to pursue article ship training with Big Four firms to make their resume unique. Experience with Big Four firms garner a high level of value. The job role in Big Four firms for chartered accountants and cost accountants starts at the junior level. After completing one year, the students get into mid-level positions. After completing a full two years, depending upon the performance, the student gets senior-level positions in the big four firms. Two years of experience offer rapid growth to the professionals. Business partners have qualifications, experience and performance records. The skills of a professional upgrade him to a business partner.