VAULT RELEASES FIRST-EVER ACCOUNTING 50 RANKING
QUALITY OF LIFE SCORES HELP DELOITTE EDGE OUT PRICEWATERHOUSECOOPERS AS BEST ACCOUNTING FIRM TO WORK FOR
New York, NY, (September 21, 2010) Vault.com, the source of ratings, rankings and insight for the finance industry, unveiled a new ranking – The Vault Accounting 50 – that looks beyond prestige to determine the best accounting firms to work for. In this inaugural year for the Vault Accounting 50, Deloitte took the top spot, followed by PricewaterhouseCoopers and Rothstein Kass, respectively.
As part of Vault’s annual Accounting Survey, conducted this past April through June, more than 2,200 accounting professionals of all levels were asked to assess their peer accounting firms on a scale of 1 to 10 based on prestige (they were unable to rate their own firm, and were asked to rate only firms with which they were familiar). They were also asked to rank their own firm in various quality of life categories. A weighted formula was applied to the data culled from these ratings to determine the Vault Accounting 50 for 2011.
According to Vault Finance Editor Derek Loosvelt, “In the past, our primary accounting ranking was based solely on prestige, but when we asked accounting professionals what the most important determining factor was when choosing an employer, they told us, overwhelmingly, that firm culture was most important. In fact, 36 percent of all accounting professionals we surveyed told us that firm culture was most important, while only 11 percent cited prestige as most important. Vault created its new ranking with this feedback in mind.”
The Top 10 firms based on Vault’s Annual Accounting Survey are:
- Rothstein Kass
- Dixon Hughes
- Moss Adams
- Elliott Davis
- Kaufman, Rossin & Company
- Cherry, Bekart & Holland
“The battle between Deloitte and PwC was a fierce one: Deloitte handily beat PwC in the areas of overall satisfaction, hours and compensation, but PwC edged out Deloitte in prestige, culture and business outlook,” noted Mr. Loosvelt. “What ultimately made the difference between No. 1 and No. 2 was the margin by which Deloitte topped PricewaterhouseCoopers in the categories in which it bested its rival. Deloitte scored more than one-half point higher than PwC in satisfaction, hours and compensation; PwC's margins of victories in the categories it won were much smaller.”
Almost unanimously, professionals outside Deloitte believe the firm is a “very prestigious,” “top of the line” accounting firm filled with “good people” who have a “strong reputation for excellence.”
Insiders at the firm are equally as complimentary, and many point to Deloitte's commitment to training as its best asset. “I believe this is one of the greatest perks about Deloitte,” says one firm insider. “We have amazing training opportunities. We're even building Deloitte University, which will be the only facility of its type among the big firms.”
PricewaterhouseCoopers was a close second in this year’s rankings riding a high prestige rating, in addition to strong firm culture reviews. Survey respondents outside the firm call PwC “the big dog,” and the “best of the big four in terms of benefits and employee morale.” Regarding PwC's firm culture, one insider says, “The firm adheres to a work-hard, play-hard mentality. My office is a close-knit group and enjoys spending time together during non-work hours. On the job we have an open-door policy where ideas and thoughts are freely shared. Our partner has made it clear that anyone can reach out to him regarding anything.”
Rounding out the Top 3 was Rothstein Kass. One insider offered one take on his overall satisfaction with the firm: “The people within the firm make it an easy place to come to on a daily basis. For the most part, everyone gets along very well, and most people enjoy spending time with other employees outside of the work environment. Although public accounting can be stressful at times, the people here make all the difference.”
"PwC has long been known as an excellent accounting firm to work for and, of course, as one of the Big Four, it's a powerhouse in the marketplace," noted Mr. Loosvelt. "Rothstein Kass, on the other hand, is a lesser known firm, but it’s a firm on the rise. It has one of if not the top accounting practices for hedge funds in North America, and its culture regularly receives rave reviews by insiders. Rothstein Kass is much smaller than any of the Big Four firms—it has less than 900 employees—so it's able to be more nimble and operate with a more family-like feel than the larger firms."
The Accounting 50 continues Vault’s finance rankings rollout which began on September 9, with the release of the Banking 50. Next week, Vault will release its 2011 Accounting Prestige and Quality of Life Rankings.
View the entire Vault Accounting 50 Rankings for 2011.
Vault.com is the source of employer and university rankings, ratings and insight for highly credentialed, in-demand candidates. Vault.com is organized by profession, industry, company and schools. Vault profiles, rankings and assessment tools deliver the insider perspective and career research candidates need to successfully match themselves to the best available job, employer and career opportunity. The Vault.com website features profiles on more than 4,500 employers, 4,000 universities and hundreds of industries and professions including the law, finance, accounting and consulting sectors. Founded in 1996, Vault.com is the only career resource of its kind and attracts more than 1000 employer and recruiter advertisers, more than 1200 school and institutional subscribers and millions of individual visitors and members.
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