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big 4 turnover

Can you please make a blog post about the turnover rates at Big4? I think it's one of those things that get a lot of attention but never discussed enough.

Oh it's discussed a lot within the big 4. A lot. But I would guess you're right that it's not discussed externally.
I'd say the attrition rate is about 15-20% a year. See my audit factory post for an earlier take on why this works for the big 4. It went down to 1-2% from 2008-2009 so the firms had no choice but to lay people off.
It really is part and parcel of the game. It's a training ground for many accountants, who endure hell their first few years in order to leave and secure good jobs at public and private companies. Everyone expects 1 in every 5-8 employees to put in their notice every year. It's a fun time, with everyone trying to figure out the implications of somebody leaving, and rumors of others leaving. The thing I find funny about this - when this happens every year, some people always think this has never happened before, and the firm would never recover from it. Newsflash - it happens every year, and the firms are smart enough to plan for this, and from a long-term perspective, doesn't really affect them. That's sadly the truth.


Anonymous said…
At my group (asset management/alternative investment) in one of the big 4, the turnover ratio is 60%.

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