News South Asia

EY, PwC, Deloitte and KPMG Poaching Competition

Competition is fierce in India and not just for hopeful graduates. The Economic Times of India has uncovered that as multinational companies continue to grow exponentially, the practice of poaching rival’s rising stars does as well. This marks great news for Indian graduates hoping to find work at home. 

In the last three months alone, companies have reportedly seen at least 20 partners along with their teams of up to 150 professionals, either join or negotiate with competition.  

Known as the big four – and currently working in collaboration with GradLink – EY, PwC, Deloitte and KPMG are all known to be engaging in this practice. Other firms such as BDO, Grant Thornton and Baker Tilly are all also experiencing the changing landscape and exchanging old and new employees. 

Motivations for the moves are largely due to pay increases and potential promotions. The Economic Time goes on to report that while not all team members are willing to leave, some of them may use the opportunity to renegotiate their salary and role within their current organisation.

There is currently a huge push to connect and recruit talent so that firms can keep up with current growth. Together, the big four among themselves have a total revenue exceeding Rs 10,000 crore, a figure which is only set to rise. Both PwC and EY have already reported a 20 per cent increase in annual growth resulting from their revenues in India. 

The CEO of an international consultancy explained that this tendency for poaching is due to the lack of specifically trained people in the India. They report that while their company is set to double in size over the next four years, they currently do not have the manpower to keep up. 

However, companies are moving to rectify this exodus through the changing of salary structures and contract clauses. But when some consultancies are offering anything between 20 and 50 per cent pay rises for high-level employees, the temptation is palpable.  

The big four, in addition to poaching, are seeking to connect with possible candidates through networks such as GradLink. Meaning that while existing employees are having to offer between six and 12 months’ notice, highly trained graduates are able to swoop in and enjoy the higher salaries and better opportunities created by this strong, emerging market. 

If you are looking for a career with any of these companies, GradLink offers an excellent array of employment prospects. Upload your CV today and see what opportunities you can discover.