Author: Taylor Warfield, Former Bain Manager and interviewer

Last Updated: July 10, 2026

 

Big four consulting refers to the consulting practices of Deloitte, PwC, EY, and KPMG, four professional services giants that generated a combined $220 billion in revenue in fiscal year 2025. This guide covers their consulting services, salaries at every level, the interview process, career paths, exit opportunities, and how they compare to MBB.

 

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Key Takeaways

 

The Big Four consulting firms are Deloitte, PwC, EY, and KPMG, which together earned $220 billion in fiscal year 2025 and employ over 1.5 million people worldwide.

 

• Deloitte is the largest firm at $70.5 billion in FY2025 revenue, followed by PwC, EY, and KPMG

 

• Each firm has a strategy arm: Monitor Deloitte, Strategy&, EY-Parthenon, and KPMG Global Strategy Group

 

• Entry-level consultants earn $85,000 to $100,000 in base salary, roughly 20% below MBB

 

• The interview process runs four to five stages, including behavioral interviews and case interviews

 

• Choose the Big Four for breadth, brand, and balance, and choose MBB for pure strategy and faster progression

 

What Changed in 2026?

 

All four firms have now reported full fiscal year 2025 results, with Deloitte becoming the first professional services firm in history to cross $70 billion in revenue. KPMG closed out reporting season in December 2025 with $39.8 billion in revenue and 5.1% growth. This update also reflects PwC's headcount reduction of 5,600 people and flat starting salaries across the consulting industry heading into 2026.

 

Who Are the Big Four Consulting Firms?

 

The Big Four consulting firms are Deloitte, PwC, EY, and KPMG. Originally founded as accounting firms, they now offer consulting, tax, audit, and advisory services in more than 150 countries. Together they generated $220 billion in fiscal year 2025 revenue and employ over 1.5 million professionals worldwide.

 

The group traces back to the "Big Eight" accounting firms that dominated the industry through the 1980s. A series of mergers, plus the collapse of Arthur Andersen in 2002, consolidated the field down to today's four.

 

Here is a quick overview of each firm, based on their fiscal year 2025 annual reports.

 

Firm	FY2025 Revenue	Growth	Employees	Strategy Arm
Deloitte	$70.5B	4.8%	~470,000	Monitor Deloitte
PwC	$56.9B	2.7%	~364,000	Strategy&
EY	$53.2B	4.0%	~406,000	EY-Parthenon
KPMG	$39.8B	5.1%	~276,000	Global Strategy Group

 

Revenue and growth figures come from each firm's official FY2025 announcement, with growth stated in local currency terms.

 

Deloitte

 

Deloitte is the largest of the Big Four with $70.5 billion in FY2025 revenue and roughly 470,000 employees. According to Deloitte's FY2025 revenue announcement, it is the first professional services firm to cross the $70 billion mark, with the Americas growing fastest at 7.1%.

 

Deloitte was founded by William Welch Deloitte in 1845 and grew through major mergers, including with Touche Ross in 1989. In 2013, it acquired Monitor Group, a prominent strategy consulting firm, to form Monitor Deloitte.

 

Deloitte has committed $3 billion through 2030 to expand its generative AI capabilities, and its consulting services span strategy, technology, human capital, and operations. Candidates targeting its consulting practice face a candidate-led Deloitte case interview, where you drive the structure and analysis yourself.

 

PwC

 

PwC is the second largest Big Four firm with $56.9 billion in FY2025 revenue and approximately 364,000 employees. Its 2.7% growth was the slowest of the four, and the firm reduced global headcount by 5,600 people during the year.

 

PwC was created in 1998 through the merger of Price Waterhouse and Coopers & Lybrand, two firms founded in the 1800s. PwC acquired Booz & Company in 2014, which became Strategy&, its dedicated strategy consulting arm.

 

PwC's consulting practice focuses on strategy, digital transformation, risk management, and deals advisory. Strategy& recruits separately from the rest of the firm and runs a demanding Strategy& case interview process modeled closely on MBB.

 

EY

 

EY is the third largest of the Big Four with $53.2 billion in FY2025 revenue and about 406,000 employees. The firm reported 4.0% growth, including a 30% rise in AI-related service revenues, according to its annual report.

 

EY was formed in 1989 through the merger of Ernst & Whinney and Arthur Young & Co. In 2014, EY acquired the Parthenon Group to strengthen its strategy consulting capabilities, forming EY-Parthenon.

 

EY-Parthenon now has over 9,000 strategy consultants worldwide, making it the largest Big Four strategy practice. Expect an EY-Parthenon case interview built around market assessments and due diligence if you target its strategy arm.

 

KPMG

 

KPMG is the smallest of the Big Four with $39.8 billion in FY2025 revenue and roughly 276,000 employees. According to KPMG's FY2025 results, the firm grew 5.1%, with tax and legal services up 7.5% and advisory up 2.9%.

 

KPMG was created in 1987 through the merger of KMG and Peat Marwick. It is the only Big Four firm not headquartered in London, operating instead from Amstelveen in the Netherlands.

 

Unlike its peers, KPMG built its strategy consulting practice in-house through the Global Strategy Group rather than acquiring an established firm. Consulting candidates should still prepare thoroughly for the KPMG case interview, especially in advisory and strategy roles.

 

What Consulting Services Do the Big Four Offer?

 

The Big Four offer four main categories of professional services: audit and assurance, tax, consulting, and advisory. For candidates interested in management consulting, it is important to understand that "consulting" at the Big Four covers a wide range of work, and not all of it resembles the strategy consulting done at McKinsey, BCG, and Bain.

 

What Types of Consulting Do the Big Four Do?

 

Big Four consulting and advisory services generally fall into four categories:

 

• Strategy consulting: high-level corporate strategy, growth planning, and market entry decisions. This is the most similar to MBB work but makes up a relatively small share of Big Four consulting revenue

 

• Implementation and transformation consulting: helping companies execute strategies, restructure operations, or manage large-scale organizational change. This is the largest segment of Big Four consulting by revenue

 

• Technology consulting: cloud migration, cybersecurity, data analytics, and AI implementation. This is the fastest-growing segment, with EY reporting a 30% increase in AI-related revenues in FY2025 alone

 

• Transaction advisory: supporting M&A deals, due diligence, valuations, and restructuring. The Big Four blend their deep accounting expertise with consulting skills for this work

 

Which Big Four Groups Do Strategy Consulting?

 

If you want to do pure strategy consulting at the Big Four, target these specific groups:

 

• Monitor Deloitte (at Deloitte)

 

• Strategy& (at PwC)

 

• EY-Parthenon (at EY)

 

• KPMG Global Strategy Group (at KPMG)

 

These strategy arms operate like firms within a firm. They recruit separately, run their own case interview processes, and work on projects similar to those at MBB firms.

 

In my experience coaching candidates, EY-Parthenon is the largest and most established of these groups. Strategy& is known for corporate strategy and business model transformation, Monitor Deloitte has strengths in competitive strategy and innovation, and KPMG's Global Strategy Group is the newest and smallest of the four.

 

If you are preparing for interviews at any of these strategy arms, my case interview course walks you through the exact frameworks and strategies that work for Big Four strategy interviews.

 

How Do the Big Four Compare to MBB?

 

The MBB vs Big 4 consulting comparison comes down to the type of work, pay, and prestige. While the Big Four are larger by total revenue and headcount, McKinsey, BCG, and Bain are widely considered more prestigious for pure strategy consulting.

 

Having worked at Bain and coached hundreds of candidates targeting both MBB and the Big Four, here are the key differences I see between these two groups.

 

Category	Big Four Consulting	MBB
Primary focus	Implementation, technology, and advisory (with some strategy)	Pure strategy consulting
Typical clients	Fortune 500 to mid-market companies, middle management	Fortune 500, C-suite executives, governments
Project length	6 months to several years	3 to 6 months
Entry-level salary	$85,000 to $100,000	$110,000 to $120,000
Time to partner	~13 to 17 years	~10 to 12 years
Specialization	Specialize early (within 1 to 2 years)	Stay generalist for many years
Scope of services	Strategy + implementation + technology + tax + audit	Strategy and operations only
Work-life balance	Generally better (50 to 60 hours/week)	More demanding (60 to 80 hours/week)

 

What Is the Biggest Difference Between Big Four and MBB?

 

The biggest difference is the type of work. MBB firms are hired almost exclusively for high-level strategy: should a company enter a new market, acquire a competitor, or restructure its operations? The Big Four, outside of their dedicated strategy arms, focus more on helping companies execute and implement those decisions.

 

This means Big Four consultants often work with middle management on longer projects. MBB consultants typically work directly with C-suite executives on shorter, high-stakes engagements.

 

Do the Big Four Pay Less Than MBB?

 

Yes. At every career level, Big Four consulting pay is lower than MBB salaries, with entry-level Big Four consultants earning roughly $85,000 to $100,000 in base salary versus $110,000 to $120,000 for MBB associates, based on Glassdoor data.

 

The gap widens at senior levels. Big Four partners typically earn $250,000 to $1 million per year, while MBB partners can earn $1 million to $5 million or more. Even so, Big Four salaries are still very competitive compared to most other industries.

 

Is the Big Four a Good Alternative to MBB?

 

Absolutely, especially if you are interested in technology consulting, implementation work, or a more balanced lifestyle. The Big Four strategy arms also offer strategy work that is increasingly competitive with MBB.

 

In my experience, the talent gap between the Big Four strategy practices and MBB has narrowed significantly over the past decade. Several former MBB partners now lead Big Four strategy teams, and the quality of client work has improved.

 

What Are Big Four Consulting Salaries?

 

Big Four consulting salaries range from about $85,000 in base pay at entry level to well over $700,000 at the partner level, based on Glassdoor data and 2026 compensation reports. Consulting roles consistently pay the highest among Big Four service lines, typically 15% to 20% above audit and tax at entry level.

 

Salary varies more by function and office location than by which specific Big Four firm you join. A consulting associate in New York will generally out-earn an audit associate in Dallas, regardless of the firm.

 

Here are the typical salary ranges for Big Four consulting roles in the United States.

 

Level	Years Exp.	Base Salary	Total Comp (incl. bonus)
Analyst / Associate	0 to 2	$85,000 to $100,000	$95,000 to $115,000
Consultant / Sr. Associate	2 to 4	$100,000 to $130,000	$115,000 to $155,000
Manager	4 to 7	$140,000 to $180,000	$165,000 to $220,000
Senior Manager / Director	7 to 12	$190,000 to $300,000	$230,000 to $390,000
Partner / Managing Director	13+	$250,000 to $700,000+	$400,000 to $5,000,000+

 

These figures are U.S. averages based on Glassdoor data and 2026 compensation reports. Salaries in cities like New York and San Francisco can be 10% to 20% higher due to cost-of-living adjustments.

 

Keep in mind that starting salaries across consulting stayed flat from 2025 to 2026, a rare occurrence in this industry. In addition to base salary, Big Four consultants receive performance bonuses (typically 10% to 20% of base), signing bonuses for MBA hires, and benefits including 401(k) matching and tuition reimbursement.

 

What Are the Career Levels at Big Four Consulting Firms?

 

Big Four consulting firms follow a structured career progression with clear levels. Titles vary slightly by firm, but the general path from entry level to partner takes approximately 13 to 17 years.

 

Here is the typical career ladder:

 

• Analyst / Associate (0 to 2 years): entry-level role for undergraduates. You will support project teams by gathering data, building models, and preparing presentations

 

• Consultant / Senior Associate (2 to 4 years): entry point for MBA graduates. You own workstreams, manage analyses, and present findings to clients

 

• Manager (4 to 7 years): you lead project teams, manage client relationships day to day, and oversee the quality of deliverables

 

• Senior Manager / Director (7 to 12 years): you manage multiple projects simultaneously, develop client relationships, and start contributing to business development

 

• Partner / Managing Director (13+ years): you own major client accounts, drive revenue growth, and shape the firm's strategic direction. Partners share in the firm's profits and can earn well into seven figures

 

Career progression at the Big Four is slower than at MBB, where the path from entry level to partner typically takes about 10 to 12 years. The good news is that the Big Four's larger size means there are more partner slots available, and the promotion process can feel less competitive.

 

What Is the Big Four Consulting Interview Process?

 

The Big Four consulting interview process typically involves four to five stages and takes two to eight weeks from application to offer. The exact process varies by firm, office, and role, but the general structure is consistent.

 

Step 1: Online Application

 

Submit your consulting resume, cover letter, and transcripts through the firm's online portal. For campus recruiting, this often starts in September for the following year's positions, while experienced hires can apply year-round.

 

Big Four firms tend to screen heavily on GPA (typically 3.3 to 3.5 minimum) and university prestige, though they are increasingly flexible on both. A referral from a current employee meaningfully improves your odds of getting past the resume screen.

 

If your resume is not landing interviews, my resume review service includes unlimited revisions with a 24-hour turnaround to help you stand out.

 

Step 2: Online Assessment

 

Most Big Four firms require candidates to complete an online assessment covering numerical reasoning, verbal reasoning, logical reasoning, and sometimes a situational judgment test. The assessment usually takes 30 to 60 minutes.

 

Formats differ by firm. The Deloitte online assessment, for example, includes a gamified job simulation, while other firms lean on traditional aptitude tests.

 

Step 3: Behavioral Interviews

 

Behavioral or fit interviews assess whether you are a good cultural match. Interviewers will ask about your motivations, leadership experiences, teamwork examples, and how you handle challenges.

 

Common questions include tell me about yourself, why do you want to work at this firm, and describe a time you led a team through a difficult situation. Prepare two or three structured stories you can adapt across questions.

 

If you are short on prep time, my fit interview course covers 98% of the questions you could be asked in about 3 hours.

 

Step 4: Case Interviews

 

For consulting roles, especially at the strategy arms, you will face one or more case interviews. The format is the same as at MBB: you are given a business problem and asked to develop a structured approach to solving it.

 

Some Big Four firms also use written case studies or group case exercises where candidates work together to analyze a packet of information and present a recommendation. In my experience, the case interview is the single biggest point of elimination in the entire process.

 

Step 5: Final Round

 

The final round typically involves interviews with senior leaders, such as Senior Managers, Directors, or Partners. Some firms conduct a "Super Day" where candidates complete all final-round interviews in a single day.

 

Final-round interviews often combine another case interview with deeper behavioral questions. Interviewers at this stage are assessing whether they would feel comfortable putting you in front of a client.

 

Which Big Four Firm Should You Target?

 

The right Big Four firm depends on the type of consulting you want to do, since the practice you join matters more than the firm name on your badge. Having coached candidates into all four firms, here is how I would break down the decision:

 

• Target Deloitte: if you want the broadest platform and the largest consulting practice, with particular strength in technology, operations, and human capital

 

• Target PwC: if you want pure strategy work through Strategy&, or deals advisory and risk consulting backed by a strong audit client base

 

• Target EY: if you want exposure to private equity clients and M&A strategy through EY-Parthenon, the largest Big Four strategy practice

 

• Target KPMG: if you are drawn to risk, compliance, and regulated industries like financial services and healthcare

 

One of the biggest mistakes candidates make is optimizing for the firm instead of the practice. A Strategy& offer is a better launchpad for a strategy career than a core consulting offer at Deloitte, even though Deloitte is the bigger firm.

 

If you want personalized guidance on which firms and practices to target, my 1-on-1 coaching helps you build a strategy tailored to your background and goals.

 

What Are the Exit Opportunities After Big Four Consulting?

 

Working at a Big Four firm opens strong consulting exit opportunities across corporate strategy, finance, and industry. The brand recognition and training you receive make you attractive to employers in nearly every sector.

 

The most common paths after Big Four consulting include:

 

• Corporate strategy roles: many Fortune 500 companies hire former Big Four consultants for internal strategy, operations, and finance positions. These roles often come with better work-life balance and competitive pay

 

• Industry specialist roles: if you specialized during your time at the Big Four, you can transition into a leadership role in that industry. A healthcare consultant might move into hospital administration or pharma strategy

 

• MBA programs: Big Four consulting experience strengthens MBA applications significantly, and some firms even sponsor MBA degrees for top performers after 2 to 3 years

 

• Private equity and venture capital: these exits are more common from MBB, but Big Four strategy arm consultants increasingly move into PE and VC roles

 

• Other consulting firms: it is relatively common to move from the Big 4 to MBB or Tier 2 firms like Oliver Wyman, especially after gaining 2 to 4 years of experience

 

In my experience, exit opportunities are strongest for consultants who worked in the Big Four strategy arms. Consultants in implementation or technology roles tend to exit into industry roles in their area of specialization rather than into finance or PE.

 

Is Big Four Consulting Worth It?

 

Big Four consulting is worth it for most candidates, but whether it is the right fit depends on your goals. Here is how I think about it after years of working in consulting and coaching hundreds of candidates.

 

What Are the Pros of Big Four Consulting?

 

• Strong brand recognition: having Deloitte, PwC, EY, or KPMG on your resume carries significant weight with future employers, MBA admissions, and recruiters

 

• Better work-life balance than MBB: Big Four consultants typically work 50 to 60 hours per week, compared to 60 to 80 at MBB, and travel requirements can be lighter

 

• Broader range of work: the Big Four's size and scope mean you can explore strategy, technology, deals, and risk without changing firms

 

• Competitive compensation: while lower than MBB, Big Four consulting salaries still place you in the top 10% of earners for most age groups

 

• Global mobility: with offices in more than 150 countries, the Big Four make international transfers more accessible than almost any other employer

 

What Are the Cons of Big Four Consulting?

 

• Lower prestige than MBB: for pure strategy roles, MBB firms still carry more weight on a resume, which matters most for PE and VC exits

 

• Early specialization: you will likely specialize in an industry or service line within 1 to 2 years, which limits the variety of your work compared to MBB generalist roles

 

• Slower career progression: the path to partner takes 13 to 17 years at the Big Four versus 10 to 12 at MBB

 

• More implementation-focused: unless you are in one of the dedicated strategy arms, much of the work involves execution rather than high-level strategic thinking

 

Who Should Target Big Four Consulting?

 

Big Four consulting is an excellent fit if you want strong training, a recognizable brand, and more balance than MBB offers. It is also ideal if you are interested in technology consulting, digital transformation, or a specific industry where the Big Four has deep expertise.

 

If your top priority is maximum prestige, the fastest path to partner, or private equity exits, MBB is the better target. For most candidates, the Big Four offers a rewarding career with excellent long-term prospects.

 

A big four consulting offer is well within reach if you prepare deliberately for each stage of the process. The single most important action you can take is to start practicing case interviews early, since that is where most candidates get eliminated.

 

Frequently Asked Questions

 

Is Big Four consulting prestigious?

 

Yes, Big Four consulting is considered prestigious. Deloitte, PwC, EY, and KPMG serve Fortune 500 companies globally, run selective hiring processes, and carry strong brand recognition. MBB firms rank higher for pure strategy consulting prestige, but the Big Four are widely respected and open doors to excellent career opportunities.

 

What GPA do you need for Big Four consulting?

 

Most Big Four firms look for a GPA of 3.3 to 3.5 or above, though this varies by office and role. Strategy arms like EY-Parthenon and Strategy& tend to be more selective and often expect a 3.5 or higher. Leadership experience, relevant internships, and networking can offset a slightly lower number.

 

Can you move from the Big Four to MBB?

 

Yes, moving from Big Four consulting to McKinsey, BCG, or Bain is possible and most common after 2 to 4 years of experience. Candidates coming from the Big Four strategy arms have the strongest odds. You will go through the standard MBB interview process, including case interviews, so strong case skills and a track record of strategy work matter most.

 

What is the acceptance rate at Big Four consulting firms?

 

Acceptance rates at Big Four consulting firms are estimated at 2% to 5%, depending on the firm, office, and role. Strategy arms like EY-Parthenon and Strategy& are more selective, with estimated acceptance rates closer to 1% to 3%. For comparison, MBB firms typically accept less than 1% of applicants.

 

Which Big Four firm pays the most for consulting?

 

Salaries across Deloitte, PwC, EY, and KPMG track each other closely, so the practice you join matters more than the firm. Consulting roles pay 15% to 20% more than audit and tax at entry level, and the strategy arms pay a meaningful premium over core consulting. Location also matters, with New York and San Francisco offers running 10% to 20% higher.

 

How long do people stay at Big Four consulting firms?

 

The average tenure at a Big Four consulting firm is 2 to 4 years for junior consultants. Many people leave after reaching the Manager or Senior Manager level to pursue industry roles, MBA programs, or other consulting firms. Those who stay long term and make partner typically have 13 to 17 years of experience.

 

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