Choosing a career path can be daunting, especially when jobs seem similar from the outside and the financial rewards of choosing a particular employer are unclear.
Salary benchmarking site Emolument.com has analysed 1,401 London salary entries from professionals working as auditors and accountants both as external consultants and internal employees.
They examined questions such as whether consulting pays better than in-house accountancy, and whether the ‘Big Four’ accountancy firms pay more than the others.
Here are the report’s findings.
The Big Four don’t pay more
The survey compared salaries paid by the ‘Big Four’ accountancy firms — Deloitte, PriceWaterhouseCooper, KPMG, and Ernst & Young — to the rest.
From the junior levels to senior consultants, there is no noticeable pay difference between working for the ‘Big Four’ firm or a smaller accountancy practice:
Consulting does pay more
For accountancy, being employed by a company or being employed externally by a consultancy is financially irrelevant for the first five years. But as accountants rise to manager level, working as a consultant is 30% more lucrative.
Here’s a more detailed breakdown: