What it does: Financial consulting: consultants for Global Fortune 500 companies as well as many private companies around the globe to give expertise and advice on company financial matters.
Mission: To help clients and employees excel in their field. Their size and resources help them to become one of the world’s leading business advisory companies and they continue to hold to their mission.
Size and Presence: Over 345,000 professionals in more than 150 countries and territories helping 90% of the Fortune Global 500 companies.
Best known for: Their reputation and the industry-leading financial consulting company is clear. They have 175 years of experience in their field and continue to make an impact on the world through their advice to clients. They help to reinforce trust in capital markets, help their clients transform and thrive, as well as trailblaze towards a stronger economy, equitable society, and sustainable world.
The good bits: Excellent support at a company that promotes learning and internal mobility for employees at a world-renowned international organization.
The Not so good bits: The company working structure is more relaxed and can lead to working late hours to get your work done.
The Deloitte storey begins during the English Industrial Revolution and the beginnings of stock sharing. The Great Western Railway was one of the most famous companies to take part in this new ownership system, but their stock price slumped in 1849 and to get out of the debacle, they turned to William Welch Deloitte, an independent public accountant, to audit. Deloitte did such an exemplary job that the recommendation for individual accountants was recommended to the country of England and gradually became implemented throughout.
The boom in these new joint stock companies demanded for people become skilled at understanding and solving unique and complex business problems. As more and more accounting needs became demanded by the general public such as income tax, audits, and regulations, the need for accountants grew and grew in both England and the U.S.
Eventually, the merged company of Deloitte and Touche set out to provide the best global services and solutions that the world was demanding. To achieve these goals they hired high-calibre recruits from every country they could and trained them to excel in what they do. Eventually, they reorganized the business to create Deloitte LLP as an overall head and four subsidiaries to better explain what they do.
The culture at Deloitte is fairly flexible. Past workers have said that instead of strict 9-5 hours they are simply given tasks to do and go home when they are done. However, the slight lax structure leads to working long hours in the office because people stop and chat throughout the day.
This vibe also has positives and contributes to a more open, inclusive, and collaborative workspace. It negates the competitive nature of the corporate world. They pride themselves on their diversity in all aspects of their work including differing ideas, cultures, backgrounds, and opinions. They give purpose to each and every employee so that you can pursue your passion and find meaning in the work that you do. By doing so employees remain excited to pursue their passions and find how they can contribute to Deloitte’s work.
After the application submission, there are a number of stages that Deloitte has in their recruitment process. Stage 1 is the initial screening. They review the applications and assess skills and experience to determine whether or not the applicant has the assets to contribute to Deloitte.
Stage 2 is the interview process. There are three interviews that applicants need to undergo. First is a general interview with a member of the acquisition team. It will either be by phone or face-to-face and is simply to get to know you better. This is the time for you to ask the questions you have regarding the role and the firm as well.
The second interview is a face-to-face interview that is more to see if you can do the work Deloitte is asking you to do. It is an in-depth interview that will present you with case studies and such to see if you have the technical skills and motivation to fit the role. The final interview is a meeting with the partner or director from the team that you would be joining. Depending on your location interviews are done through video conference or skype.
The next steps of the recruitment process include assessments or testing where needed. Depending on the role a skill-based test or psychometric test may need to be completed. Then it’s pre-employment checks including checking qualifications and references before getting an offer and beginning onboarding.
Deloitte is consistently named one of the best places to jump-start your career. A graduate position at Deloitte usually starts as a consultant and can take you as high up in the company pecking order as you hope for! It’s a start low, aim high type of work environment. The promotion path is very clear and Deloitte heavily promotes internal searching for promotions rather than outside hiring.
The typical career path starts as a consultant, moves to senior consultant, then manager, senior manager, director, and eventually a partner in the firm. Throughout the process, Deloitte management is there to support their employees with training and teaching to be able to give them the confidence they need to fulfil their roles.
Deloitte provides a solid career path and foundation for its employees as well as some travel experience and flexibility building. Along with the amazing career prospects, because Deloitte is an international company you can expect to create an international network of support as you go through your career life.
Deloitte Consulting has a generous salary and sign-on bonus for graduate students. The base salary they offer for MBA and PhD degree holders is $135,000 with a sign-on bonus of $15,000. As you move up the ranks the salary exponentially increases. The first promotion to senior consultant moves the salary up to an average of $102,000 before moving the $145,000 and eventually as a partner making $216,083 a year based on reviews gathered from LinkedIn and Glassdoor.
The Deloitte network has been committed to driving societal change and specifically working to promote environmental stability since its inception. They partner with government and non-profit organizations to help design and implement solutions to create sustainable and prosperous futures for generations to come. This is seen through the initiatives that they uphold across their global network and the limited greenhouse gas emissions they create despite the need for lots of global travel.
Deloitte Consulting has been heavily involved in building unemployment insurance web portals across various states, including Ohio, Colorado and Illinois. In May 2020, following a wave of applications resulting from the Covid-19 pandemic, it was revealed that major security weaknesses existed in the web portals of these states. Personal information of unemployed applicants, including addresses and social security numbers, was exposed and viewable by the public. Following the revelation, proposed class actions were filed against the company.
The controversy follows similar short-fallings in Florida's unemployment portal. The Connect site, designed by Deloitte, was described as a colossal failure as it was created over budget, delivered late, and did not work. Again, individuals laid off during the Covid pandemic were particularly vulnerable as they were out of jobs and unable to receive unemployment assistance. In May 2020, an investigation was ordered by Florida Governor Ron DeSantis.