What do the Big Four mean?

The Big Four refers to the four major accounting firms, including PricewaterhouseCoopers (PwC), KPMG (KPMG), Ernst & Young (E&Y), and Deloitte (DTT). The audit departments of the Big Four recruit people regardless of major, with hundreds of people recruited. They are mainly engaged in the audit business of listed companies.

The Big Four also have other departments, such as taxation, consulting, etc. For example, Puhua has an audit department (including audit and risk management GRMS), a tax department, and a Business Advisory department (mergers and acquisitions consultants, etc.).

Salary system

In the industry, although the "Big Four" are known for their high labor intensity, their remuneration is also very high.

The "Big Four" are generally divided into five levels in China. The first level is ordinary employees, and their subordinates are divided into two levels; the second level is senior employees, which are also divided into three levels; The first level is a manager, the fourth level is a senior manager, and the fifth level is a partner.

Ordinary employees of the "Big Four" in the first year are often called A1 or "kiddies"; after working in the "Big Four" for one year, they are often called A2; senior employees are often referred to as "SA1" ,SA2,SA3”. Among them, the manager’s basic monthly salary is 30,000 yuan (before tax); the senior manager’s basic monthly salary is 47,500 yuan (before tax). The partners (i.e. Partners) earn more, with the most common partners earning more than 1 million per year.

“In addition to the basic salary, there are also differential compensation, overtime pay, taxi fares, etc. However, I heard that overtime pay was canceled not long ago.” The above-mentioned person who left Ernst & Young analyzed, “The expansion was too fast before. The current economic downturn and the basic stagnation of large IPO projects are the main reasons for layoffs.”

According to statistics from Thomson Reuters, as of the end of October, the amount of IPO financing in Shanghai was only US$5.3 billion, a year-on-year decrease. 32.

The IPO project is the foundation of the "Big Four". Obtaining an IPO project can obtain stable and continuous audit orders for two or three consecutive years.

Reference for the above content: Baidu Encyclopedia-Big Four Accounting Firms