They dominate the market – as of 2017, 497 of the S&P 500 firms are audited by one of these firms – an astounding collective market share of 99.4%. Please how is severance pay calculated for federal civil servants. Bain, also called the “Big 3” of consulting) by a fair margin – the smallest of the Big 4 (KPMG) has 40% more revenue than the largest of MBB (McKinsey).Â, In terms of employee and office numbers, the Big 4 firms also outdo MBB firms by 5-10 times – each has somewhere around 600-800 offices and 200,000-300,000 employees. KPMG Analyst Salary(Undergraduate/Entry-Level), KPMG Consultant Salary(MBA/Experienced-Level). These differences in projects lead to major implications for anyone who pursues a consulting career. So large, in fact, that it is the largest consulting firm by employee number – at a staggering 500,000 in 2020, the firm is even larger than the Big 4. Thank you, Thank you, Mohammed. MBB consultants are paid more, but Big 4 consultants enjoy better work-life balance. Although MBB firms virtually get all the attention, the Big 4 firms also offer attractive career opportunities for prospective consultants. So today, let’s find out about these firms, the jobs they offer and how they might be different from McKinsey, BCG or Bain. The sky-high fees of their projects allow MBB firms to give their consultants much more lavish dinners and hotel rooms. The Big 4 firms – Deloitte, KPMG, PwC and EY – are the four largest professional service networks in the world, offering services in various business areas, most prominent among which are: auditing and accounting; advisory and consulting; tax, risk and legal advice. These firms are global or regional, and often specialized to a degree. CONRAISS  embodies  an  increase  on  the  table  of  consolidation  of  the following components; The Consolidated  Tertiary  Institutions  Salary  Structure  (CONTISS) approved by the Federal Government of Nigeria (FGN) with effect from 1st January  2007  (FGN  Circular    SWC/S/04/S.301/1 dated 18th January 2007). Gain valuable work experience with placements in PwC's technology teams during your summer holidays and during the third year of your degree; Earn a salary while you learn and have your tuition fees fully paid for; This Computer Science course is a four-year, Degree Apprenticeship with PwC, Bachelor of Science (BSc) degree. Nonetheless, today accounting/auditing services only contributed a minor part of the Big 4’s total revenue. The word “tier 2” implies a level of prestige and/or problem-solving expertise below MBB (the typical “Tier-1” firms). Since the 1990s, the Big 4 (or more appropriately, the Big 5) have been deeply engaged in management consulting – in fact when Enron collapsed in 2002, Arthur Andersen was earning more from consulting services provided to that company than from auditing services. 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Together with the Big 4 and MBB firms, it is one of the most prestigious and largest firms in the consulting industry. MBB consultants work with their clients in shorter terms – usually 2-4 months, while Big 4 consultants can be engaged with one client company for 6-8 months or even year-long, providing oversight and helping the client put their solutions into practice. PwC offers consulting positions in five main areas: strategy, technology, growth, human capital, risks-and-regulations. Newfoundland and Labrador: Carbon pricing is levied on consumers at a rate of CAD 20 per tonne. N20,000.00 Per Annum, Pharmacists/Medical Laboratory Scientists/Radiographers/Physiotherapists/Scientific Officers in Federal Health Institutions It also possesses a strategy branch called Monitor Deloitte (created from the 2013 acquisition of the consulting firm Monitor Group). This is the salary structure for the academic staff of federal universities. This is applicable to all Non-Academic Staff in Nigerian Federal Universities. As of 2019, the four largest consulting firms in terms of revenue are the consulting branches of the Big 4 firms. The  new  salary  structure  applies  to  all  the  staff  of  Research,  Training  and Allied  Institutions  and  Agencies  that  currently  operate  the  Consolidated  Tertiary Institutions Salary Structure (CONTISS) which came into effect on January 1, 2007. The  items consolidated with the basic salary are transport allowance, meal subsidy, utility allowance, leave grant, journal allowance, research allowance, learned society allowance,  furniture  allowance,  examination  administration  allowance,  field trip  allowance,  industrial  supervision  allowance,  responsibility  allowance, inducement  allowance,  administrative  officer  allowance,  rural  posting allowance,  clinical  duty  allowance,  teaching  allowance,  domestic  servant allowance and driver’s allowance (for entitled officers). Note:  Air ticket is to be provided for spouse and a maximum of four children only if they accompany the officer. Andersen also had its consulting practice split off as with the Big 4, but out of internal conflicts – and although the “mothership” has crashed, consulting practice remains strong, and I’ll discuss it near the end of this article. Non-regular allowances for the Federal Public Service. I could only find Lagos states salary table/scale online. According to a 2018 PwC survey conducted on 600 executives hailing from 15 different regions, nearly 84% of the respondents claimed to be … However, the modalities for determining what constitutes exceptional skill will be worked out before this is implemented.   It should be noted that exceptional skill is subject to review annually based on performance. 15 Most Prestigious Consulting Firms in the US – Vault 2020, EY (Ernst & Young) LLP Consulting Practice. 2021 in sight - Current tax tips for you and your organization. This lowers the barrier and allows each candidate a better chance at a consulting career. Like Deloitte, PwC also owns a separate strategy division, called Strategy&, which was formed by PwC’s acquisition of Booz & Company (not to be confused with its former-parent Booz Allen Hamilton, which remains independent as another top-tier consulting group). On the other hand, Big 4 consultants do have somewhat better work-life balance, with the weekly hours ranging from 50 to 70. This salary structure applies to the non-academic staff of universities; all academic  and  non-academic  staff  of  Polytechnics,  Colleges  of  Education, Research  and  Allied  Institutes;  and  medical/dental/veterinary doctors/optometrists  with  OD  Degrees  in  Federal  Health  Institutions  such  as Teaching Hospitals, Medical Centers, Specialist Hospitals etc. The pdf below gives information about it. The Consolidated Peculiar University Academic Allowances (CONPUAA), … This is applicable to all top public office holders in Nigeria, such as Special Assistants to the Presidents, Inspector General of Police, Clerk of the National Assembly, National Security Adviser and a host of others. In addition, the sheer geographical scale of Big 4 operations make their jobs more available. See administrative staff salaries here https://www.mysalaryscale.com/salary/administrative-staff–t. what is going yo be the salary of an experienced electrical engineer with 9 years post graduate experience? Thanks. EY Associate Salary (Undergraduate/Entry-Level), EY Senior Associate Salary(MBA/Experienced-Level). Deloitte Analyst Salary(Undergraduate/Entry-Level), Deloitte Consultant Salary(MBA/Experienced-Level), Deloitte has published materials on their own case interviews – I’ve condensed them into one Deloitte case interview guide here, or you can see Deloitte’s example cases from this list. N1, 000 per day for all married and un-married officers for 28 days. In the true consulting spirit, I present to you Vault’s rankings of the most prestigious consulting firms in the US in 2020 – even though the Big 4 and their strategy consulting arms take up 6 slots in the top 15, they are considerably behind the “Big 3” – the only gap wider than 1 point (1.48) is between Bain and Deloitte – the least prestigious of MBB and the most prestigious of Big 4. Required fields are marked *, Consolidated Tertiary Institutions Salary Structure II (CONTISS II), Consolidated University Academic Salary Structure (CONUASS), See also Salary Structures of KPMG, PwC, Deloite and EY, Consolidated Research and Allied Institutions Salary Structure (CONRAISS), See also Salary Structures of  MTN, GLO, 9Mobile and Airtel, Consolidated Top Federal Public Office Holders’ Salary Structure (CONTOPSAL). The same thing applies to the rest of the Big 5 – consulting, along with legal and tax advisory, was providing the majority of their revenue. Call Duty Allowance is payable to the under-mentioned officers in Federal Health  Institutions  (Teaching/Specialist  Hospital,  Medical  Centers  and  Clinics with  facilities  for  admission)  at  the  rates  contained  in  the  attached  tables,  only when they perform call duty in accordance with an existing call duty roster: Medical/Dental/Veterinary Doctors/Optometrist (with OD Degree). MBB firms, on the other hand, are much more selective – McKinsey offices are only present in 65 countries, while BCG and Bain are in 50 and 37 countries respectively (nonetheless, you may still join an MBB office in neighboring countries – MBB partners can start projects in countries without an office – in fact, they only open offices in countries with a good track-record of successful projects). This is shown in Info-graph 12. Salaries and Wages in Nigeria Public service are determined by the National Salaries, Incomes & Wages Commission (NSIWC). Read more: Comprehensive consulting salary report for 2020. N10,000.00 Per Annum, Nurses and Other Health Professionals/Workers in Federal Health Institutions To view the salary of Cross River State, kindly check here Thank you for contacting us Social security contributions to pension funds, medical funds, etc. The initiative covered 90 percent of an employee’s salary during the training period and a portion of the company’s training costs, ranging from 35 percent (for a new role in the same company) to 80 percent (for a move to an entirely new industry). Rent    Allowance    has    not    been    consolidated    with    the    rest    of    the allowances in    the    emolument    package.    It is, therefore payable as contained in Info-graph, where an officer is not provided accommodation at Government expense. Cost of transportation to be borne by Government to a maximum of one, 20ft container and 50% rebate on one car. The new structure known as Consolidated University Academic Salary Structure (CONUASS) is attached as Info-graph 5. In terms of perks, MBB consultants have it much better. A consulting post at McKinsey, BCG or Bain is a better career choice overall, but every year thousands of applications are sent to each firm – so many, that the acceptance rate is below 1%. https://www.mysalaryscale.com/salary/. EY also has a dedicated strategy division called EY-Parthenon, created from its acquisition of the consultancy The Parthenon Group. The  Consolidated  Peculiar  University  Academic  Allowances (CONPUAA),  exclusively  for  university  teaching  staff  and  derived from  allowances  not  adequately  reflected  or  not  consolidated  in CONUASS. ... SAP Technology, PwC. Big 4 consulting jobs are more accessible. This agency is saddled with the responsibility of deciding a realistic compensation system in the Nigerian economy. Although the Big 4 firms do have non-consulting services to add into the numbers, these wildly different figures and the fact that MBB firms enjoy all the prestige and attention hints at another crucial difference between the two groups – the nature of their projects. Thanks for contacting us. Deloitte offers consulting positions in three main focus areas: strategy & operations (S&O), human capital, and technology. Thank you Tosin The level of learning from exposure is understandably much better on the MBB side; McKinsey, BCG and Bain can also afford to spend more on each consultant, leading to better training and development, including the world’s top MBA programs. And while we’re at it, let’s find out some more about the career and salary offered at Big 4 consulting practices. Check out the salary of electrical engineers here, https://www.mysalaryscale.com/salary/electrical-engineer–t. PwC Consulting Salary (2020) Officers’ in Level 09 Step 01 and Level 09 Step 15 will receive N81,000 monthly working at the Federal Civil Service Commission. Pls, update me. This is shown in info-graph 13; Shift  Duty  Allowance  is  payable  to  only  Nurses  and  other  health Professionals  in  the  Federal  Health  Institutions  who  perform  shift  duty  in accordance with an existing shift duty roster at the rates contained in info-graph 15. As of 2020, they are the four largest consulting firms in terms of revenue. https://www.mysalaryscale.com/blog/wp-content/uploads/2018/02/Payment-of-Severance-Benefits.pdf, What is the percentage for calculating of severance-benefits in Nigeria. The items consolidated with  the basic    salary    are    transport allowance,  meal  subsidy,  utility  allowance,  leave  grant,  journal  allowance,  research allowance, learned society allowance, examination    supervision    allowance, excess workload allowance, furniture allowance, industrial  supervision allowance,  field trip allowance,  postgraduate  supervision  allowance,  postgraduate  studies  allowance, responsibility  allowances  as  well  as  domestic  servant  allowance  and  driver’s allowance (for entitled officers). Your email address will not be published. On the MBB side, the projects provide more tailored solutions, while Big 4 answers are generally more formulaic and methodical. This is applicable to all Academic Staff in Nigerian Federal Universities. The new allowances are applicable as enumerated hereunder: Relocation allowance is payable  only once  on assumption of duty, to officers   with  special  skills  recruited  from  abroad  or  locally, to supplement  the cost of their transportation, accommodation and the movement of their personal effects. Money Transfer. The payment covers the first 28 days of their arrival at their duty stations.  The applicable rates are as follows in info-graph 11; The  rate  for  the  family  is  only  payable  to  officers  accompanied  by  the  family (couple and a maximum of four children), Professionals with Special Skills Employed from Abroad. 400 + Internships. DXC’s extensive partner network helps drive collaboration and leverage technology independence. The company’s global scale, talent and innovation platforms serve 6,000 private and public-sector customers in 70 countries. The information you require is in Medical Doctors’ Salary Check it out. . But where did this giant come from? They surpass the more prestigious MBB firms (McKinsey, BCG. The Big 4 firms in management consulting are Deloitte Touche Tohmatsu (Deloitte), KPMG International (KPMG), PricewaterhouseCoopers (PwC), and Ernst & Young (EY). As part of the settlement, Andersen Consulting was required to change name, and so the fancy-sounding “Accenture” (“accent on the future”) was born. All of the Big 4 firms originate from the accounting industry – in fact, they are usually referred to as “Big 4 accounting firms”. They use CONTEDISS, or where can I get condition of service of such Institutions. Join 60,000+ on the #1 consulting prep channel! See National Bureau of Statistics salaries here However,  Rent  Allowance  has  not  been  consolidated  with  the  rest  of  the allowances  in  the  emolument  package.   It  is,  therefore,  payable  as  contain  in Info-graph 10,  where  an  officer  is  not  provided  accommodation  at  Government expense. Medical/Dental/Veterinary Doctors/Optometrist (with OD Degree) in the Federal Health Institutions Thank you, Michael. 00Per Annum, Academic/Non-Academic Staff of Federal Universities/Polytechnics/Colleges of Education who are directly exposed to hazardous working environment such as laboratories and metal workshops In the United States, junior consultants in both groups are paid $70,000-$90,000 per year as base, while that of senior consultants fluctuate around the $140,000 mark. are mandatory for Chinese employees. The greater number of Big 4 consulting projects, as well as higher level of involvement compared to their MBB counterparts demand more manpower. Social security contributions. The scale of the problem, and the consequences for … ... See also Salary Structures of KPMG, PwC, Deloite and EY Info-graph 6. Specifically a lecturer in a federal university. Check it out Unlike the other Big 4 firms, KPMG is the only one to have not acquired a boutique, dedicated strategy arm. Accenture is a multinational professional services network / consulting firm which focuses on strategy and technology. Professionals with Special Skills Employed Locally. Personal Effects: Due to the high-level nature of their projects, MBB consultants frequently come into contact with high-level executives on the client side, while Big 4 consultants – especially the junior ones – mostly work with the middle managers. Note: This list is compiled by Vault using surveys of working consultants, who rank the prestige of consulting firms they know on a scale of 1 to 10. MBB consultants have better learning opportunities, prestige and exit options. https://www.mysalaryscale.com/company/national-bureau-of-statistics/salary, Can you please specifically tell us the approved allowances and other benefits of Public Relations Officers in tertiary institutions? As you may have guessed from the names, numerous mergers reduced the Big 8 to Big 5: Arthur Andersen, Deloitte & Touche, Ernst & Young, KPMG (the PM stands for Peat Marwick), and PricewaterhouseCoopers. See approved allowance and benefit here It also applies to all Federal Agencies formerly running the Harmonized Tertiary Institutions Salary Structure (HATISS). This “tier system” is not an universally-agreed grouping (like MBB or Big 4) – depending on the situation and the person, you may even hear about “Tier 3” or “Tier 4”, while some boutique consulting firms might be grouped into “Tier 1” with MBB due to their prestige in a specific industry/function/location. It is a 15-grade salary structure with each scale consisting of a number of steps ranging from 15 for the lower grades to 9 for the highest grades. In the Netherlands, salary thresholds apply for Highly Skilled Migrant and labour migrant work permit and residence permit applications. Local Transportation Subsidy: There are actually two subgroups within the Big 4 consulting practices – the traditional, implementation-oriented consulting and the newly-acquired strategy consulting (the only exception is KPMG, who has not acquired any strategy consulting firm). Pharmacists/Medical Laboratory Scientists/Radiographers/Physiotherapists/Scientific Officers. Personal Effects: The firm also operates in strategy consulting, as with virtually all top consulting firms.Â, Accenture Analyst Salary (Undergraduate/Entry-Level), Accenture Consultant Salary (MBA/Experienced-Level), Like all top consulting firms, Accenture also use case interviews in their recruitment process – I’ve written a guide on their case interviews, which you should also check out by clicking on the link. Â. “Tier-2” is a common term denoting top consulting firms outside MBB and the Big 4. Kick start your case interview practice with our Prospective Candidate Starter PackOver 50 tips and tricks, a framework dictionary and an example from our premiumCase Interview End-to-End Secrets Program, Unsubscribe at any time – MConsultingPrep’s Privacy Policy. This creates what I call an “exit culture”, where a majority of consultants view the firms as launching pads for their careers. Thanks for contacting us. The Big 4 firms are much larger than MBB, in terms of revenue and employee number. Please how much is an admin staff in a federal hospital expected to earn after tax deductions? If you are overcoming hardships, we wanna help! The CONTISS rent allowance is attached below; Following the separate collective agreements between the Federal  Government  of  Nigeria  (FGN)  on  the  one  hand  and  the  Senior  Staff Association of Nigerian Universities (SSANU), the Non-Academic Staff Union of Educational and Associated Institutions (NASU) and the National Association of Academic Technologists (NAAT) on the other, on 5th November 2009, the new salary structure for Non-Academic Staff of Federal Universities is thus known as the Consolidated Tertiary Institutions Salary Structure II (CONTISS II). Follow the link for more information By comparison, the most far-reaching MBB firm – McKinsey – is the only one to possess over 100 offices (+130), and 27,000 employees.Â. Unless stated otherwise, I’ll mostly talk about the traditional consulting arms. Each Big 4 firm operates in 150-ish countries – so unless you live in the poorest and least promising markets, you will find at least one Big 4 firm in your home country. http://www.nsiwc.gov.ng, I need a break down of CONCASS salary structure and CONTEDISS salary structure, Please can you help me with how much a medical officer will earn at an Agricultural research Institute. Deloitte and KPMG retained a majority hold on their consulting arms (although part of KPMG’s consulting branch did split to become BearingPoint). Scarce skill allowance is applicable across the Federal Public Service and is payable  to  officers  with  exceptional  skills  at  the  rate  of  N1,200,000.00  Per Annum. Click on the links to find out about each product, or subscribe to our Youtube Channel and newsletter to receive more consulting news and free materials. The problem is when audit firms earn so much from non-auditing services provided to the same clients, there is an incentive to ignore the holes in the clients’ financial statements, to build long-term relationships and sell other services. Â. $89,000 average starting salary. Especially level 8 to level 15, Your email address will not be published. However, with bonuses and profit sharing, the gap between MBB and Big 4 firms widens (see the charts below). It is a 15-grade salary structure with each scale consisting of a number of steps ranging from 15 for the lower grades to 9 for the highest grades. The new salary structure is attached as Info-graphs 3 and 4. Master’s-in-ITM-Specific Career Fairs. The new structure known as the Consolidated Tertiary Institutions Salary Structure (CONTISS) is attached as Info-graph 1. Cost of air ticket is to be fully borne by Government at the prevailing rate. 20 years after these splits, however, the Big 4 firms have regained their positions within the consulting industry – as the four largest consulting firms globally. I will really like to find out what it is for other states, especially cross river state. MBB consultants, on the other hand, can expect 60-80 hours per week. The rest comes from assurance (audit), advisory, and consulting – the last of which is our main topic. Prestige-wise, MBB firms have been standing head-and-shoulders above the rest of the consulting industry, including the Big 4. Thank you Nneka. Nonetheless, Big 4 firms are also respectable career launching pads – offering the same kind of exit opportunities as MBB, although the quantity and quality (pay) are usually lower. The term “Big 4”, however, comes from the accounting industry where these four firms dominate the market. Notable firms in the “Tier-2” include Accenture, LEK, AT Kearney, Roland Berger, Booz Allen Hamilton, Oliver Wyman to name a few. Thanks. Project pricing is hard to compare and might be misleading, but if the scale and scope are comparable, MBB firms charge their clients 3-4 times more than Big 4 firms; on a related note: the “hourly rates” you see on the internet might be what offices charge the projects, not what the projects charge the clients (see the organization of consulting firms) which is usually much higher to account for the value of the time spent by partners in that project. Â. MBB projects normally entail high-level strategy consulting, while Big 4 consulting services lean towards implementation and highly-specific problems in areas such as accounting, tax, risk or legal advice. That led to increasing pressure from legislators, which coupled with the Enron scandal, forced some of the Big 4 firms to split their consulting arm in the early 2000s – EY sold off its consulting practices to the French IT firm Capgemini, while PwC’s consulting branch was acquired by IBM. Please what is the payment structure in the states like? What is the salary of Level 9 agric extension officer at federal level? MBB firms also have more extensive support departments where you can outsource everything outside problem-solving – from making fancy PowerPoint slides to extracting data on any given topic.Â. https://www.mysalaryscale.com/salary/cross-river–l, Also, if you need to check for other states, simply type in the state in the “location” field and click on the “search salary” button. The various salary structures in Nigerian civil service according to NSIWC are as follows; CONTISS is a salary structure that originated from the University Salary Structure (USS), which was introduced in the early 1980s, following the Cookey Report on the study of the problem of remuneration in the university system. Overall, Big 4 projects aim at a more massed market, resulting in higher “unit sales” (number of projects), but lower prices. It does annual reviews of wages and salaries in the Nigerian Civil Service. This is shown in info-graph 13; Theatre/Anesthetic Nurses and Other Health Professionals who perform call duty. I’ve also written extensive articles on these consulting recruitment steps: With all that said, Deloitte, KPMG, PwC and EY are all respectable names – as their consultant, you will still have the bragging rights, the high income, and the learning exposure better than most jobs out there. This sums up to a salary of N978,663 yearly. For applicants who wish to specialize in IT consulting, Accenture also offers attractive careers, with salary on the same level as the Big 4. And then in 2002, with the Enron scandal, Arthur Andersen met its demise and its practices were split between the remaining firms, now called “the Big 4”. Waiting for your reply. Home; PAY Cards, Bill Pay. They say “there’s no such thing as a free lunch” – MBB candidates have to fight harder to get more out of their job. In reality, however, there is more variance between the projects than between two groups of firms. Cost of transportation to be borne by Government to a maximum of one truck at the prevailing rates per kilometer. These firms also offer salaries comparable to McKinsey or Deloitte, excellent learning opportunities and exit options (compared to most jobs on the general market – or even within the field of consulting), and probably a more suitable workplace culture for you in the long run.Â. They are not allowed to rank their own firm. http://www.nsiwc.gov.ng/Docs/pdf/CONTSS%20II_2009.pdf, Please what is the sum payable as first 28 days to a GL 04 civil servant(state) thanks, Hello Ken, thanks for contacting us. And because all consulting firms look for the same qualities in their candidates, you can do consulting prep for both groups at the same time. Air Ticket: PwC Associate Salary(Undergraduate/Entry-Level), PwC Senior Associate Salary(MBA/Experienced-Level). The last time we left off with Arthur Andersen, it was facing demise following the Enron scandal. EY offers consulting positions in six main areas: strategy, technology, service, risks, finance and analytics. //Www.Mysalaryscale.Com/Blog/Wp-Content/Uploads/2018/02/Payment-Of-Severance-Benefits.Pdf, what is the only one to have not acquired a boutique, dedicated division! Earn after tax deductions post graduate experience ), human capital, risks-and-regulations &! 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