Deloitte, the world's largest professional services business, likes itself a bit too much. Deloitte is more difficult to get into than Harvard University based on the amount of applications it recruits. It might become even more exclusive under a secret five-point strategy devised by new global CEO Punit Renjen. The strategy calls for increasing the percentage of partners at Deloitte who are female and from under-represented groups.
Out of all applicants for admission into Harvard University, only 7% are accepted as students. Out of all applicants for jobs at Deloitte, 35% are called back for interviews. Even though fewer people are getting in, it's harder to get in now than it was before because they're trying to make the process better match up people with skills to positions that need to be filled.
Harvard has an average GPA of 4.0 out of 4.0 for its students. Deloitte has a much higher one: 3.5 out of 3.9. The typical Harvard student receives $50,000 in academic scholarships and grants, while the median scholarship award at Deloitte is $120,000. In addition, Harvard graduates earn nearly $150,000 on average, while those from Deloitte go for $140,000.
Both schools are highly selective institutions that take many factors into account when deciding who will be allowed to enter.
"An annual list prepared and published by Fortune magazine that ranks 500 of the top firms in the United States in terms of total revenue for their respective fiscal years." Unfortunately, Deloitte does not appear on the Fortune 500 list...
Deloitte was the largest of the Big Four accounting companies in 2020, with a total revenue of around 47.6 billion US dollars. It employed about 286,000 people worldwide at that time.
The company was founded in 1884 in New York City as William E. Deloitte & Co. by William Edwards Deloitte and several other partners. The name "Deloitte" is an abbreviation of the words "delivery of accounts", which describes its original business of preparing tax returns for clients. In 1955, Deloitte moved its headquarters to Houston, Texas. In 1973, it expanded into international consulting by opening an office in London. In 1999, after $25 billion in mergers and acquisitions, Deloitte became a global organization with offices in more than 40 countries around the world.
As of 2019, Deloitte had approximately 755,000 employees across four main sectors: professional services (37%), technology (34%) research and analysis (23%).
In 2015, Deloitte announced its intention to reduce its workforce by 10,000 jobs over the next ten years. This would include 4,500 job cuts from its professional services division alone. At the time, this represented about 15% of Deloitte's current staff size.
Deloitte placed fourth in Vault's 2021 rating of the 50 most prominent consulting companies, a position Big D has maintained since 2015, and once again tops the Big 4. Here are the top 11 most prominent consulting companies, including representation from all four Big Four: Boston Consulting Group, McKinsey & Co., PricewaterhouseCoopers and Deloitte.
Also making the list this year is EY, which came in at number 12. The ranking is based on research conducted by Vault with data provided by professional services industry publication The Journal of Accountancy.
To be ranked among the largest consulting firms, a company must have at least $150 million in annual revenue and 30 or more full-time employees. No new entries were made to the list this year.
A majority of the top 10 companies listed have headquarters in the United States. Of the remaining three companies, one is German (McKinsey) and two are British (Bechtels and KPMG).
All four of the Big Four have global networks of independent firms that provide expertise in specific industries and regions. While each firm has worldwide offices, only four or five major cities account for nearly all of their activities. New York City is the center of gravity for Deloitte, with other major offices in North America and Europe.
Here are the top 11 most prominent consulting companies, including representation from all four Big Four: McKinsey & Company, Boston Consulting Group, PricewaterhouseCoopers and Deloitte.
Working at Deloitte is very prestigious because of the reputation of our company and the impact that you can create by what you do. Also, we have several opportunities for advancement so there is always a chance to rise through the ranks.
The best part of my job is helping clients improve their businesses. I love learning about their problems and coming up with solutions using my management experience. This also allows me to use my skills on a daily basis which is exciting.
Deloitte was started in 1872 in New York City as a partnership between three men who wanted to make better business decisions. We still work today in a small office located in Lower Manhattan with around 250 partners and staff. Deloitte is an acronym for "Deloitte, Anderson, Haskins & Sells". The last name of these founders is now known as Deloitte LLP.
We have two offices inside Manhattan and one in Washington DC. No matter where you go, you will be making a difference and having an impact on the world.
Looking at the Fortune 500 rankings, Deloitte looks to be positioned between two huge insurance businesses. They'd be sandwiched between Allstate and United Airlines. This is a pretty good spot to be in; both companies have been in the business for a long time and have a strong presence in many markets across the country.
Deloitte has more than 250,000 employees in over 70 countries and reports annual revenues of $10 billion or more. It's one of the biggest consulting firms in the world.
They have four main practice groups: audit, tax, management consulting, and technology services. Deloitte's primary client base are large corporations but they also do some work for not-for-profit organizations and governments.
Audit is Deloitte's largest division with revenues of $3.5 billion. They provide financial statement audits to help businesses identify issues with their finances that may need to be addressed. They also offer other types of audits such as compliance audits to make sure companies are following all relevant laws and regulations.
Tax is another large division at Deloitte with revenues of $1.5 billion. They provide tax preparation services, including e-file options, and other tax services like forensic accounting.