Ernst & Young is one of the largest professional services networks, which supports entrepreneurs in upgrading their products. Now Ernst & young is known as EY. The company provides Assurance, audit, Strategy and Transactions, Consulting, and Tax. Ernst &Young, along with Deloitte, KPMG, and PricewaterhouseCoopers, is considered one of the Big Four accounting firms. Here, we’ll know about EY Salary.
EY has expanded its company into a market adjoining to accounting, HR, technology, strategy, operations, and financial services consulting with its headquarter in London, England, UK. The company is spread worldwide in more than 150 countries with 300,000 employees in over 700 offices.
Ernst & Whinney and Arthur Young & Co. founded this company 32 years ago in the year 1989. In 2013, the company’s name got changed by the EY from Ernst & Young. In 2019, it became the seventh-largest privately owned organization in the United States. It has ranked on Fortune magazine’s list of the 100 Best Companies to Work, and in 2020, Revenue recorded at US$37.2 billion in the year 2020.
History
Timeline
1- 1989: Ernst & Whinney merged with the fifth largest firm in the world, Arthur Young & Co., to become Ernst & Young In 1989.
2- 1995: Ernst Young announced plans to merge with KPMG.
3- 2010: In 2010, Ernst Young acquired Terco,
4- 2014: EY hired by the Pope of the Roman Catholic Church.
5-2015: Ernst & Young operated its first global Security Operations Centre in Thiruvananthapuram, Kerala, India.
6- 2018: EY opened a 4.4 million professional services canter in Louisville, KY, and announced it would open an IT tech hub in Nashville, TN.
Early days
EY is an ancestral firm spreading its hand in the market over the last century and a half. The company’s name was changed to Whinney, Smith & Whinney in 1894 after his son joined the company.
In 1903, Ernst & Ernst was founded in Cleveland, Ohio, by Alwin C. and Ernst and his brother, Theodore Ernst. A Scotsman accountant, Arthur Young, founded a company, Arthur Young & Co. Chicago, 1906. 1n 1924, Young merged with Broads Paterson & Co.; and Ernst with the Whinney Smith & Whinney.
Later, in 1989, these two Young & Co. And Broads Paterson & Co. merged with an Anglo-American partnership, Ernst & Whinney, then they four became the world’s fourth-largest accountancy company.
Later, Ernst & Young announced their plan to merge with KPMG, a professional services network, the largest professional services organization, in October 1997. In February 1998, they collaborated with Price Waterhouse and Coopers & Lybrand to creating PricewaterhouseCoopers. Between the 1980s and 1990s, Ernst & Young heavily expanded its consulting practice.
Present days
In 2006, Ernst & Young was encouraged by the global economic downturn.
Ernst & Young became the only member among the four that established two member firms in the United States by the involvement with Mitchell & Titus, LLP.
Later in October 2015, Mitchell & Titus ended its membership.
In 2013, Ernst & Young officially changed its name to EY with a tagline: Building a better working world.
To help in reviewing Vatican City State’s finances, the Pope of the Roman Catholic Church hired EY in 2014. With 150 partners, 1500 employees, and 21 offices, Ernst & Young expanded all KPMG Denmark’s operations.
In 2014, The Parthenon Group got acquired by EY by gaining 350 consultants. In addition, the review unit was rebranded as EY-Parthenon for its most selective strategy consultancies globally.
In 2015, Ernst & Young operated its global Security Operations Centre in Thiruvananthapuram, Kerala, India. It was the first operation canter that invested $20 million.
In 2017 EY announced to open the support canter in Tucson, AZ, USA. With this opening EY, created 125 new jobs. They also Digital Security Operations Canter in Muscat, Oman, with the EMEIA region as part of a $10 million investment.
A $4.4 million professional services canter was opened in Louisville, KY, USA, by EY in 2018, creating 125 new job opportunities. The company also announced a plan to open an IT/tech hub in Nashville, TN, USA, which would create 600 regional job opportunities.
ERNST & YOUNG RANKINGS
- Ranked #74 for the Best Employers for Diversity 2020
- Ernst & Young is ranked #64 for the Best Professional Companies to Work For in the United States.
- Ernst & Young was ranked #51 for the Best Employers for Women 2020
- Ernst &Young is ranked #46 for Biggest Companies in America
- It is ranked #33 for the Best Companies to Work For in New York.
- For Best Professional Companies to Work For in New York, the company ranked #12.
- The company ranked #6 for America’s Best Employers By State 2020
- For America’s Largest Private Companies 2020, Ernst&Young ranked on #6
- The company ranked #4 for Biggest Companies in New York.
List of ranking in 2021
- For Best Employers for New Grads 2021, Ernst & Young ranked #215
- For Best Management Consulting Firms 2021, Ernst & Young ranked #215.
- The company ranked on #494 for America’s Best Employers 2021
- For America’s Best Tax and Accounting Firms 2021, the company ranked #494.
How much do employees of ERNST & YOUNG get paid?
The average salary of an employee of Ernst & Young of the United States can earn up to $95,482 per year, or $45.9 an hour. So you can get an income of $141,000 a year if you come in the top 10th percent of earners, but if you’re in the bottom 10 percent of earners, then your salary could be less than $64,000 a year.
The highest-paid salary at Ernst & Young, Is of an employee of Advisory Project Manager who earns an average salary of $108,303 per year. Research and development department workers can get an average salary of $111,029. In that case, SupposeSo its lowest-paid salary is of a consultant who earns an average salary of $84,844.
The Earnings of employees at Ernst & Young are also affected by locations. Employees in New York, NY, Washington, DC, and Hoboken, NJ earn the highest salaries. Ernst & young revenue ranges > $1b.
SALARIES BY JOB TITLE AT ERNST & YOUNG
The employee at Ernst & Young earns an average salary of $95,482 per year.
The job roles at Ernst & Young include software developer, advisory project manager, senior advisory, administrative assistant, tax internship, management analyst, and many more.
Let us see some of the highest and lowest salaries of job title at Ernst & Young.
The job title with the highest salary
1. Advisory Project Manager- $123,641
2. Application Software Developer – $116,579
3. Management Analyst- $113,750
4. Senior Advisory- $108,308
5. Computer Systems Analyst – $106,851 6.Assurance Manager- $105,348
Job titles with lowest salary
1. Staff Accountant- $56,105
2. Staff Auditor- $57,503
3. Audit Internship- $58,874
4. Tax Accountant- $59,766
5. Senior Assurance- $73,344
6. Executive Assistant- $78,422
ERNST & YOUNG SALARIES BY LOCATION
We all know the cost of living depends on the location you live, and employees also earn accordingly. At Ernst & Young, the employees are paid different salaries depending on location.
Let us see the list of places whose employees get paid the highest at Ernst & Young.
1. New York, NY – $105,633
2. Washington, DC- $105,367
3. Hoboken, NJ- $104,294
4. Stamford, CT- $100,994
5. McLean, VA- $98,610
6. Seattle, WA- $98,499
ERNST & YOUNG SALARIES BY DEPARTMENT
How much an employee earns at Ernst & Young depending on their departments. The salary of employees varies depending on their department, but it also differs by position. For example: If you are working in the plant manufacturing department, the average salary of that department is $98,728 per year, but there are also different roles within that department. If you are in the position of Senior Advisory, You will earn an average salary of $108,308 per year, and your colleague, who is at the Position of Senior Assurance, will get the average salary of $73,344 per year.
Let us see the average salary of Ernst & Young Categorised by departments.
- Research & Development – $111,029
- IT – $108,303
- Engineering- $103,174
- Plant/Manufacturing- $98,728
- Customer Service- $92,512
- Finance- $91,101
- Marketing- $83,615
- Accounting- $76,707
- Administrative- $61,356
Let us see some of the salaries of an employee at Ernst & Young within departments.
ERNST & YOUNG PLANT/MANUFACTURING SALARIES
1. Senior Advisory- $108,308
2. Assurance Manager- $105,348
3. Senior Assurance- $73,344
ERNST & YOUNG ACCOUNTING SALARIES
1. Senior Tax Manager- $82,552
2. Account Auditor- $81,777
3. Certified Public Accountant-$74,319
4. Senior Auditor-$72,533
5. Staff Accountant-$56,105
6. Tax Internship-$54,738
ERNST & YOUNG IT’s SALARIES
Highest paid
1. Technical Advisor- $126,407
2. Advisory Project Manager- $123,641
3. Management Associate- $118,836
4. Information Security Analyst- $115,229
5. Computer Systems Analyst-$106,851
6. Audit Manager- $101,445
7. Senior Service Technician-$95,496
8. Technical Support Specialist-$85,487
9. Senior Technologist-$79,825
10. Staff Consultant-$77,790
11. Information Assurance-$65,585
12. Audit Internship-$58,874
ERNST & YOUNG COMPETITOR SALARIES
Ernst & Young is the world’s largest professional services network. It’s normal if it has rivalries. Some of the rival company, of Ernst & Young, are A.T. Kearney, McKinsey & Company, and InSource Business Strategies.
Let us see some of the competitor companies with their Employee’ average salaries and ranks.
1. McKinsey & Company Inc.
Salary: $110,186
Ranked: 4.9 stars
2. Bain & Company
Salary: $110,648
Ranked: 4.9 stars
3. Boston Consulting Group
Salary: $109,487
Ranked: 4.9 stars
4. Monitor Group
Salary: $95,619
Ranked: 4.6
5. Accenture
Salary: $86,170
Ranked: 4.8
ERNST & YOUNG CAREERS
What people like
- Supportive environment
- Inclusive work environment
- Ability to learn new things
Areas where Ernst & Young needs to improve
- Energizing work tasks
- A general feeling of work happiness
- Sense of belonging
Pros:
- Good diversity
- Great opportunities available
- Supportive management
- career trajectory
Cons:
- High staff turnover
- Lack of work-life balance
- Long working hours
- Fewer Benefits
Review on category-based (Ranked based on stars)
- Job Security & Advancement-3. 8 stars
- Work & Life Balance- 3.4 star
- Compensation & Benefits-3.6 stars
- Management- 3.6 stars
- Culture- 3.8 stars
- Career growth- 3.5 stars
- Skill development- 3.8 stars
Latest updates about Ernst & Young
- Employees (est.) (Aug 2021)- 310,846
- Job Openings -8,885
- Website Visits (Apr 2021) – 4 million
- Revenue (FY, 2020)- $37.2 B
- Cybersecurity rating- A
Ernst & Young’s Key People/Management
1-Carmine Di Sibio- EY Global Chairman and CEO
2- Andy Baldwin- EY Global Managing Partner – Client Service
3- Trent Henry: EY Global Vice Chair – Talent
4- Nicola Morini Bianzino- EY Global Chief Technology Officer
5- Steve Krouskos: EY Global Managing Partner – Business Enablement
6- Jay Nibbe: EY Global Vice Chair – Markets
Reviews
- Analyst (Current employee): Best Company for learning and gaining growth- EY is one of the best companies for learning new skills and career growth. All my colleagues are super supportive. The company has a Good Work-life balance, and the employee ranks the company with 05 stars.
- Associate Director (Former Employee)- Bad management and unpleasant workplace. The employee gave 1 star.
- Assistant Director, Product Management (Current Employee)- Opportunities to work with cutting-edge technology products. There are a lot of opportunities to work on cutting technology products. The company has exciting work culture. Ranks the company with 05 stars.
- Assistant Manager (Current Employee) – Inclusive space to work and achieve your goals. Too many managers, not enough people to do the practical work. Salary is the least among the big four unless you are qualified. The employee ranks the company with 03 stars.
- Vacation trainees Former Employee) – The Co-workers are all friendly and willing to teach you something when you are fresh. The company’s security is being protected and well secured. The employee rates the company with 04 stars.
- Senior Consultant (Current Employee) – The Company has a competitive environment, fast-paced and productive. The company offer Bonuses, yearly increment. The employee ranks it 03 stars.
- Immigration Analyst (Former Employee) – Pay is good. But daily you have to work for more than 12 to 13 hrs without any motivation.
- Analyst (Current Employee) – Productive and efficient workplace. It is a great workplace to start your career where you get to learn new skills and grow your personality through ample opportunities.
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