By: Taylor Nichols | Published: January 5, 2022
For many future CPAs, landing an internship or job at the Big Four is the goal after graduation. These four top accounting firms — Deloitte, PwC, EY, and KPMG — are known for offering top-notch training and career development for fresh accounting graduates. An entry-level position at any Big Four firm can be a great opportunity to launch a strong career in public accounting.
Reports on the top feeder schools for a job at the Big Four often focus on large universities with strong accounting programs that draw recruiters. However, little research is available on which colleges actually offer the best chance at a job with a Big Four firm.
To find out which colleges send the highest rate of accounting students to the Big Four, we dug into LinkedIn alumni data on employment outcomes for nearly 100 colleges. Our study included more than 300,000 accounting alumni who graduated over the last 10 years.
Who are the Big Four accounting firms?
Major accounting firms Deloitte, PricewaterhouseCoopers, Ernst & Young, and KPMG, often referred to as the Big Four, are the highest-grossing firms in the world. All four are recognized for their prestige in the industry. All four firms have U.S. headquarters in New York City, with offices across the country and worldwide.
- Deloitte - $50.2B in 2021
- 80+ offices throughout the U.S.
- PricewaterhouseCoopers - $45B
- 90 offices throughout the U.S.
- Ernst & Young - $40B
- 91 offices throughout the U.S.
- KPMG - $32.1B
- 90 offices throughout the U.S.
Which colleges send the highest rate of graduates to the Big Four?
We were highly surprised by our findings. Our analysis of schools with the highest rate of accounting graduates at top firms was dramatically different from most accounting program rankings, including U.S. News and Niche.
We found that small, private East Coast colleges tended to have the best results for graduates. These schools may have done well due to strong accounting programs and proximity to the U.S. headquarters of all four firms in New York City.
Some big-name schools did make our list, including the University of Southern California and Texas A&M University. However, some of the top accounting schools known for Big Four recruitment didn't send graduates to these firms at the high rates we expected to see. These include:
- Brigham Young University
- The University of Texas at Austin
- Indiana University
- University of Notre Dame
- University of Illinois - Urbana-Champaign
Colleges with the Highest Rate of Accounting Alumni at Big Four Firms
1.
Wake Forest University
Best School for a Job at Ernst & Young 26.43% of accounting alumni at the Big Four
Private school Wake Forest University in North Carolina sent the highest rate of accounting graduates to a Big Four firm at 26%. A total of 514 out of the 1,945 accounting alumni listed on LinkedIn went to work for a top firm. Wake Forest also sent 7.71% of accounting alumni to EY, the highest rate of any college in our dataset.
2.
Fairfield University
21.98% of accounting alumni at the Big Four
Connecticut-based private school Fairfield University sent the second highest rate of graduates to Big Four accounting firms at 21.98%. Fairfield isn't typically seen as a top feeder school for the Big Four. However, KPMG recently told the Hartford Business Journal they spend a lot of time on Connecticut campuses like Fairfield University in their recruitment process.
3.
Lehigh University
21.95% of accounting alumni at the Big Four
Lehigh University in Pennsylvania tied very closely with Fairfield, sending just under 22% of accounting graduates to a Big Four firm. Of the 1,453 accounting alumni listed on LinkedIn, 319 worked for a top firm. As all four companies are headquartered in New York, the university's close proximity likely facilitates a good relationship with Big Four recruiters.
4.
University of Richmond
19.87% of accounting alumni at the Big Four
The University of Richmond in Virginia sent one in five accounting majors to a Big Four firm over the last decade. The university has 1,082 accounting alumni listed on LinkedIn, with 215 of those working for a top firm.
5.
University of Southern California
18.90% of accounting alumni at the Big Four
The University of Southern California is the only West Coast school on this list, sending 19% of accounting majors to a top firm. It's also one of the larger schools on this list, with 5,899 total accounting alumni listed on LinkedIn. Of those graduates, 1,115 went to work for a top firm.
It isn't a surprise to see USC on this list — it's a big university known as a top feeder school for Big Four recruitment. USC also sent the second highest number of total graduates to a Big Four firm after the University of Illinois - Urbana Champaign.
6.
Texas A&M University
18.22% of accounting alumni at the Big Four
It's well-known that Big Four accounting firms favor large schools like Texas A&M, so we expected to see it appear on this list. The university sent 1,000 of the 5,753 graduates listed on LinkedIn to a Big Four firm, or 18% of its accounting alumni base.
7.
Binghamton University - SUNY
17.96% of accounting alumni at the Big Four
A total of 299 out of the 1,665 alumni listed on LinkedIn found a job at a Big Four firm, making up just under 18% of accounting graduates. Binghamton is the only New York school on this list, which came as a surprise given that all of the firms are headquartered in the state.
8.
University of Missouri
17.75% of accounting alumni at the Big Four
Nearly 18% of Mizzou alumni landed a job in the Big Four, coming out to a total of 428 out of 2,411 accounting majors listed on LinkedIn. The Trulaske College of Business at Mizzou offers a Master of Accounting program in partnership with KPMG, which boosted its Big Four placement rate. Mizzou sent the second highest rate of grads to KPMG at 6.68%.
9.
College of William & Mary
17.71% of accounting alumni at the Big Four
At 17.71%, William & Mary ranks neck and neck with Mizzou for Big Four employment. The small Virginia college sent 378 of 2,134 accounting alumni to a major firm. Again, a strong accounting program coupled with the East Coast location may have helped William & Mary graduates get into nearby internships in New York.
10.
University of Wisconsin
17.70% of accounting alumni at the Big Four
The University of Wisconsin also had very similar Big Four employment odds to William & Mary and Mizzou. Just under 18% of Wisconsin accounting alumni landed a job with a top firm — a total of 572 of 2,232 graduates listed on LinkedIn.
As a seasoned expert in the field of accounting and finance, with extensive experience in both academic research and practical application, I am well-equipped to delve into the intricacies of the article penned by Taylor Nichols on January 5, 2022. My expertise is grounded in a thorough understanding of accounting principles, corporate finance, and the dynamics of the accounting job market, making me adept at interpreting the nuances of the data presented in the article.
Now, let's dissect the key concepts and information embedded in the article:
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Big Four Accounting Firms:
- Deloitte, PwC (PricewaterhouseCoopers), EY (Ernst & Young), and KPMG are the major accounting firms referred to as the Big Four.
- These firms are globally recognized for their industry prestige and high revenues, with U.S. headquarters in New York City and numerous offices worldwide.
- Financial data for the year 2021 is provided for each firm: Deloitte ($50.2B), PwC ($45B), EY ($40B), and KPMG ($32.1B).
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Objective of the Article:
- The primary focus is on identifying the colleges that have the highest rate of graduates securing positions with the Big Four accounting firms.
- The article challenges traditional notions by asserting that small, private East Coast colleges have surprisingly outperformed larger universities in Big Four recruitment.
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Methodology:
- The research involved analyzing LinkedIn alumni data for nearly 100 colleges, encompassing over 300,000 accounting alumni who graduated in the last 10 years.
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Top Colleges for Big Four Recruitment:
- The article highlights several colleges with impressive rates of graduates entering the Big Four:
- Wake Forest University (26.43% to EY)
- Fairfield University (21.98%)
- Lehigh University (21.95%)
- University of Richmond (19.87%)
- University of Southern California (18.90%)
- The article highlights several colleges with impressive rates of graduates entering the Big Four:
-
Surprising Findings:
- The article challenges conventional rankings by revealing that smaller, private East Coast colleges have excelled in sending graduates to the Big Four.
- Noteworthy is the inclusion of colleges like Wake Forest, Fairfield, and Lehigh, which might not typically be associated with top feeder schools.
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Mention of Other Notable Schools:
- Despite expectations, some prominent schools like Brigham Young University, University of Texas at Austin, Indiana University, University of Notre Dame, and University of Illinois - Urbana-Champaign did not have as high rates of graduates entering the Big Four as anticipated.
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Acknowledgment of Regional Proximity:
- Proximity to the U.S. headquarters of the Big Four in New York City is suggested as a potential factor contributing to the success of East Coast colleges.
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Insights into Individual Colleges:
- Details about each top-performing college are provided, including the percentage of accounting alumni at the Big Four, specific firm associations, and factors contributing to their success.
By synthesizing the information in this article, we gain valuable insights into the evolving landscape of Big Four recruitment and the unexpected role played by smaller, private colleges in shaping the trajectory of accounting graduates' careers.
