One of the most underrated roles in finance are those in the so-called middle and back-office. It is generally looked down by those in revenue-generating, front-office roles and written off as low-quality professionals, it's also seen as undesirable pathways at uni circles.

The Big 4 accounting firms—Deloitte, PwC, EY, and KPMG—offer competitive salaries that vary by role, experience, qualifications (e.g., ACA, ACCA), department (e.g., audit, tax, advisory), and location. London typically commands a premium due to higher living costs, often 10-20% above other UK regions.

Breaking into investment banking (IB) from a Big Four firm (Deloitte, PwC, EY, or KPMG) is absolutely possible—and quite common among those who execute well both on a strategic and tactical level. Thousands of accountants and consultants make this switch each year, often landing roles in M&A advisory, leveraged finance, or coverage groups at bulge bracket (BB), elite boutique (EB), or middle-market firms.

The financial services sector hosts two powerhouse groups: the Big 4 accounting firms—Deloitte, PwC, EY, and KPMG—and the Bulge Bracket investment banks like Goldman Sachs, JPMorgan Chase, Morgan Stanley, Citigroup, Bank of America Merrill Lynch, Barclays, and Deutsche Bank. Big 4 firms dominate audit, tax, risk advisory, and consulting, treating investment banking as a secondary arm focused on mid-market transactions.

You will have heard about the Big Four and probably can even name them if you work in the Wharf. But what exactly are EY, KPMG, Deloitte and PwC doing and why are they so important? Well, they are definitely big with revenues of $35-60bn and 250-400,000 employees each.

As the Big Four firms (Deloitte, PwC, EY, and KPMG) redefine professional services through AI integration—automating routine tasks, launching AI assurance services, and shifting toward tech-driven models—graduates face a more competitive landscape with reduced entry-level hires. Traditional accounting roles are evolving, with AI handling up to 90% of audits and data processes, creating demand for hybrids of technical expertise, human-centric skills, and adaptability.