Today, I would like to share with you some in-depth insights about accounting firms, especially for those who are just starting out in the industry or are curious about it.
First, let's explore the world of accounting firms. As of the end of December 2022, there are more than 10,000 accounting firms in the country, which is an astonishing number. With so many options to choose from, how do you judge the strength of a firm? In fact, the most direct way is to refer to the annual comprehensive evaluation ranking published by the Chinese Institute of Certified Public Accountants. This ranking covers the 100 strongest accounting firms in the country, which is very valuable for reference.
Let's talk about the big four vs eight issues that everyone is concerned about. The Big Four refer to the internationally renowned PricewaterhouseCoopers, Deloitte, KPMG, and Ernst & Young, while the Big Eight refer to leading accounting firms in China. The biggest difference between the two is the salary package, type of business, and growth opportunities.
The Big Four salaries are relatively transparent, and you can find information about them online. Here"Transparent"It is relative to domestic firms. For example, the starting salary of a junior auditor in one of the Big Four may be 8-10k, while the salary of the same position in a domestic firm may be slightly lower, but the gap will gradually narrow as you accumulate experience.
In terms of business types, the Big Four usually undertake audit projects for large private enterprises and financial institutions, while the Big Eight domestic companies serve more state-owned enterprises, central enterprises and domestic listed companies. This difference in business also determines your growth path and future career change options when you work in these firms.
When it comes to work intensity, whether it is the Big Four or the Big Eight, overtime is almost inevitable. Especially during the peak audit season, overtime until late at night is the norm. There is generally a subsidy for business trips, but the amount of the subsidy depends on the specific firm.
Finally, I would like to give some advice to friends who are just starting out in the industry or preparing to enter an accounting firm. No matter which firm you choose, you will face opportunities for rapid growth and a variety of challenges. The key is to find the right path for you. Different firms have different working styles and cultures, and choosing the environment that suits you best will allow you to go far in this industry.
Well, that's all for sharing about accounting firms. If you have any questions, or want to know more, welcome to Didi.