Deloitte vs EY (Differences Explained)

deoe and ernston young are Professional Services companies that make up two of the big four companies they get this name big four because they're two of the four largest companies in the world when it comes to Professional Services the two being KPMG and PWC PWC and KPMG I cover in another video in this video we're just going to focus on deoe and ernston young so let's get started first we need to understand where these companies are coming from let's start with deoe Dee was found in 1845 why this matters I'll cover later on this video but just know now that Theo's quite Old Second is that is the largest of the big four in terms of Revenue in terms of locations and in terms of employee count in fact last year deoy did over $ 59 billion and 40% of that came from his Consulting practice it has over 400,000 employees around the world in 150 countries and 700 locations so that's a pretty big number and you need those numbers to support some of the clients that Deo has such as Microsoft and Morgan Stanley on the other hand ey is a lot younger while officially it became a company in 1989 ey actually came as a result of a merger between Ernest and Whitney which was founded in 1903 and arford young company which was founded in 1906 while not as large as deoe it is still a big four and ernston young currently employs 300,000 employees also across 150 countries in about 700 locations and last year they did $45 billion with most of this Revenue coming from their auditing practice now you know a bit about deoe and also ey let's talk about the differences between them earlier I talked about how deoe was founded in 1845 while ey came officially to be ey in 1989 so this 150e difference has given deoe the edge so if you have to think about the Gap in between the two has allowed deoe to grow because it just compounds over time and you see this if you have to summarize the differences it's basically deo's just bigger so let's look at the numbers I mentioned earlier that deoe employs over 400,000 people while ey employs 300,000 people and you can imagine over time this also means that as someone who's working at deoe or eyi you have access to a lot more people if you're working at deoe but not only not only that but once you leave deoe you have the deoe network as well both networks are very impressive but deoe has a bigger Alumni network currently right now Delo Alumni network those who are still active is more than 1.1 million people again eii is not shy average it's estimated to be about 940,000 active alums so if you think about the two differences here they're pretty large Network so a lot of exit opportunities will happen for you a lot of Industry connections as well so you'll have both wherever you work at deoe but UI but not that deoe has the edge here and when it comes to traveling for projects and eyi both travel but eyi does do less travel so point for eyi here if you prefer a firm that does less traveling and you're able to stay at your home base a lot more and when it comes to their expertise both are well known in the global professionals industry that's why they're part of the big four a little bit more though if you compare deoe versus eyi there are a couple things that stand out when it comes to deoe they're known a lot for their strategy and operations practice also known as their SN practice second they're also known for their human capital practice and their technology practice while ey has an edge when it comes to their risk advisory as well as their financial and data analytics practices so if you're thinking about going into one of these paths one of these firms might give you the edge and we'll talk about that later and as I mentioned earlier when it comes to revenue deoy is just bigger it's the biggest of the big four with $59 billion coming in last year mainly from its Consulting practice while e is the third in the big four with $54 billion but there's also a lot of similarities that come between ey and deoe so first off the reputation and their Global presence and when it comes to Consulting both are well known from deo's internal strategy practice and later on their monitor group while ey is known for their internal practice as well as ey paron so both have a strong reputation when it comes to management consulting so having Ivor on your resume it's going to stay with you for the rest of your life it becomes that safety net that you're never going to lose second is that work life balance is about the same with the exception that ey on average has less tribel project on whole you're going to be working similar hours and when it comes to Consulting in particular it's going to depend on the project that you work on so for example if your client is a client that is always demanding you're all going to have more hours if your project is shorter with a lot more deliverables and outcomes that you need to achieve then you're going to have a lot more work or if you're on a leadership team where the partner or manager always says yes to client results you're going to have a lot more work when it comes to Consulting it really depends but on average we find that you'll be working 40 to 55 hours depending on the project but knows that some projects can go high so you can go 70 hours per week or even higher depending on the scope of the project and no matter which firm that you end up with they both have impressive training programs that you're going to have from day one and the exit opportunities are quite large for you at Iver firm but you don't take my word for it just look at the alums who come from it so for example from deit you have Orin Smith who became the CEO of Starbucks you have Karly biggie who became the CEO of Law and motions you have Simo Leo who became an Marvel actor so you can kind of see that there's a large Gambit there and the same can be said for ey as well you have anywhere between Patricia warts who became the CEO of Archer Daniel Millan to Andrew gold who became the CEO of slumberger to off blank who founded Home Depot and later became the owner of the NFL Atlanta Falcons the other similarity is that the recruiting process is actually quite similar your first submit an application which includes your resume and COV letter then if you pass that you'll be invited to take online assessments to make sure if you're a good fit to be interviewed then you'll go through interview rounds and then finally you'll be given the offer and assuming you take the offer you're going to be paid among the top 5% of global earners so both deoe and eui pay very well the promotion paths are also quite similar for both firms so at deoy though the titles might change the promotion paths very similar so for example at deoe if you're entering at an undergrad level you'll enter as an undergrad at an analyst level then become a consultant then become a senior consultant then you'll be a manager senior manager then a principal or director at ey it's very similar but slightly different title is you'll start off as associate then become a consultant or you enter post NBA and become a senior consultant then a manager then Senior manager then director and then a partner and not only that but you're also going to be on a fast track for promotion as well so which one should you actually apply to and which one's better for you to work at well the way that I answer this over the years I've worked with a lot of candidates who've landed both ey and deoe offers and they're thinking Davis which offer should I take and the advice I give is to think about it in two ways both the shortterm and the long-term in the short term I think about this question which culture do you Vibe with the most during your recruiting process and interview process who did you get along with better because these are the people that you're likely going to be working with because if you don't enjoy working with the people it's going to be a very long day for you at the office and I also think about the long term which is what do you want to do after Del or after ey the biggest difference here is that if you already know what you want to do afterwards and you're laser focused on which industry then think about does Theo have the better industry knowledge or does ey think about the alums who work there so for example if you're thinking about working in strategy or operations human capital or technology deoe has a bigger alumni base and a bigger reputation while if you're thinking about working anything advisory or risk or Finance ey might be your better choice so I want to think about where do you want to be after working at deoe or eyi and if you don't know yet I one could be a great choice so go back to the first question which is who do you Vibe with because you're going to learn a lot more if you enjoy the people you're working with so now that you know the differences between deoe and ey I'm curious which one are you thinking about applying to which one stands out to you is it deoe or E I'll tell you what if you comment below the firm that you're wanting to apply to for example if you write deoe what I'm going to do is I'm going to send you resources to help you land the interview at deoe and also pass interviews so if you write ey I'll do the same thing for ey so let me know which of the two firms stand out to you and if you're 100% serious about becoming a Management Consultant I'd love to help you even more here are my Consulting offer we're a team of former recruiters interviewers and consult and all we do is help people land jobs in management consulting such as firms like deoe and ey and i' love to be able to see how we can help you if you're serious about becoming a Management Consultant I'll provide a link below where you can book a free call with my team where we're going to assess how we can help you and if we can't help you we'll point you in the right direction so you have nothing to lose by booking a free call and to dat we've helped over 800 people land jobs in management consulting including at deoe and UI and we've done this at a 90% success rate but you don't have to take my word for it I actually want you to hear from someone who went through the process in fact I want to share the story of Wilson so Wilson actually landed his Dee offer as well as ey offer so he was one of the people that I worked with to decide is Dee the better option or is e a better option to find out what he picked and why he picked that firm I'll link the video above my head all right I'll see you in the next video

Channel: My Consulting Offer

Views: 6,665

Keywords: deloitte, pwc, kpmg, EY, #DeloittevsEY, #ProfessionalServices, #CareerComparison, #CorporateCulture, #WorkplaceInsights, #ConsultingLife, #GlobalLeaders, #IndustryFocus, #AlumniNetwork, #JobSearch, #CareerDecisions, #WorkLifeBalance, #CorporateWorld, #JobOpportunities, #BusinessAnalysis, deloitte interview, deloitte interview questions and answers, deloitte interview questions

Id: Yw66jXAl2m8

Length: 8min 14sec (494 seconds)

Published: Fri Jan 12 2024