EY, PwC, Deloitte and KPMG to hand out over 230 promotions

The Big Four firms are in the process of fostering a record number of partners due to unprecedented demand from the industry for digital transformation services, transaction support functions and their traditional attributes – risk and financial advisory services.

After speaking with senior leaders of the firms, ET estimates that by the time the current promotion cycle ends, the Big Four professional services firms — EY, PwC, Deloitte and KPMG — have totaled between 230 and 250 partners. will be added. Firms follow various promotion timelines through the revenue year.

While Deloitte has already announced 60 partner promotions, PwC, KPMG and EY have finalized their promotion lists but will announce them in a few days, several people with knowledge of the matter told ET. . By June, PwC could have 45-50 new partners and over 70 executive directors.

Firms are ramping up this exercise at a time when attrition is also a major issue as seniors are being poached by startups and the industry.

A senior company executive told ET that Deloitte has promoted 60 directors as partners, which is double the number by 2021.

“These promotions reflect potential market opportunities and demand for services among domestic Indian companies and multinationals both in India and outside. The promotions were also driven by technology, governance and compliance skill sets,” he said.

By the time all companies settle their FY22 accounts, the total revenue from India is set to touch Rs 21,500 (EY and PwC after June year end).

People aware of the discussions say that companies are also giving the highest bonus this year.

Market leader EY expects to announce between 125 and 135 new partners and associate partners in the next month or so, said one industry watcher. “I believe EY is following its time-tested trick of investing ahead of time to maintain its edge. The firm has grown faster than the competition in consulting and digital advisory services and Now the strategy is bigger than many firms. Now, they want to broaden their partnership pyramid across service lines to create differentiated delivery mechanisms,” said the former CEO of the Big Four firm.

Such is the pressure from clients that firms are not able to start projects immediately in some service lines like consulting and transaction related services.

The biggest growth theme for firms has surprisingly been digital transformation services after the Covid-19 pandemic cast a spotlight on the gaps in the digital infrastructure of companies.

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