Big 4 Accounting: Do You Need a Master’s Degree?

For many aspiring accountants, the ultimate career goal is securing a position at a prestigious Big 4 accounting firm—Deloitte, PwC, EY, or KPMG. These firms are seen as the benchmark for excellence in the accounting and professional services industry, offering global opportunities, high-profile clients, and unparalleled career progression. Given their prestige, competition for roles is fierce, which leads many to ask: “Do I need a master’s degree to get into the Big 4?”

The short answer is: not necessarily. However, the full picture is more nuanced. Whether or not you need a master’s degree to land a spot at one of the Big 4 can depend on a number of factors including your undergraduate qualifications, work experience, certifications, and your long-term career goals.

Entry Requirements for Big 4 Accounting Firms

The Big 4 firms typically require at minimum a 2:1 undergraduate degree in any discipline, although business-related degrees (e.g. Accounting, Economics, Finance) are often favoured. Some firms accept applications from students with a 2:2 grade, as long as other areas of their application—like experience, extracurriculars, or personal achievements—are particularly strong.

While each firm has its own recruitment policies, most Big 4 firms in the UK recruit graduates primarily through graduate schemes. These schemes prepare students from the ground up and include training to gain professional qualifications such as ACA (Associate Chartered Accountant), ACCA (Association of Chartered Certified Accountants), or CIMA (Chartered Institute of Management Accountants).

Thus, for most entry-level audit, tax, or advisory roles, a master’s degree isn’t a strict requirement. As long as you meet the academic criteria and perform well in the firm’s assessment process, you can start your career immediately after your undergraduate studies.

When a Master’s Degree Might Be Beneficial

While you don’t need a master’s degree to work for the Big 4, there are situations where earning one could be beneficial—particularly for those looking to specialise, switch careers, or enhance their chances of being shortlisted in a competitive market.

For career changers holding a non-business bachelor’s degree—say in art or literature—a master’s in accounting or finance can provide the necessary foundation and accounting knowledge. This kind of degree demonstrates a serious commitment to transitioning into the industry.

Even for those with a business-related undergraduate degree, a master’s can provide deeper understanding in a specific niche such as forensic accounting, international tax, or data analytics—areas that are becoming increasingly important within the Big 4 landscape.

Moreover, completing a master’s degree from a prestigious university (particularly in the UK, such as LSE, Warwick, or Oxford) can be a great addition to your CV, potentially helping you stand out among hundreds of other qualified applicants.

Professional Qualifications vs. A Master’s Degree

Another important point to consider is that Big 4 firms sponsor professional training. Almost all graduates who join one of the Big 4 will study towards a recognised professional qualification like ACA or ACCA, fully funded by the firm.

This means that within 3 years, employees will become chartered accountants—without the additional student loans that come with postgraduate degrees. From a financial standpoint, joining a firm early and earning while qualifying may be more advantageous than paying tuition fees for a master’s.

In some cases, particularly for those who complete university accounting degrees accredited by a professional body, most of the required exams for these qualifications have already been covered. A master’s degree will not waive the need to undertake professional exams unless it's a professionally-linked programme.

Hiring Trends & Employer Expectations

The accountancy job market is dynamic, and hiring practices at top firms are shifting. Firms are increasingly focusing on soft skills—such as communication, problem-solving, adaptability, and teamwork—along with academic credentials.

Recruiters are also placing a heavier emphasis on relevant experience gained through internships, part-time work, placements, or extra-curricular initiatives such as entrepreneurial projects and volunteering. Building a well-rounded CV can be more impactful than an additional academic qualification alone.

It’s worth noting that the Big 4 are investing significantly in diversity and inclusion initiatives. They understand that top talent comes from many different backgrounds and don't want to limit themselves to those with master's degrees only.

Master’s Degree: Return on Investment (ROI)

It's crucial to evaluate whether a master’s degree provides tangible value for your career goals. In the UK, a full-time master’s degree typically costs between £10,000 and £25,000. With potential living expenses on top, this could represent a significant investment.

If the master’s provides a clear pathway to a specialist role, opens doors to consulting or financial advisory teams, or helps break into a competitive market, the costs may be justified. However, if your goal is to enter an audit or tax graduate scheme, the return on investment may be limited, particularly if you could have qualified as a chartered accountant during that same period while earning a salary.

Alternative Ways to Strengthen Your Application

If you're seeking an edge without doing a master’s degree, consider these options:

• Apply for internships or work placements with accounting firms during university
• Gain voluntary or part-time finance-related experience (e.g., treasurer of a student society)
• Attend career fairs and networking events to connect with insiders and recruiters
• Complete online courses in Excel, data analytics, or tax law from platforms like Coursera or LinkedIn Learning
• Prepare thoroughly for psychometric tests, video interviews, and assessment centres

These proactive measures can help you develop the skills and experience that hiring managers look for—and are often more valued than an extra qualification with no practical application.

What Do Hiring Managers Say?

Most HR professionals and recruiters at Big 4 firms confirm that a master’s degree is not required for entry-level roles. They consistently emphasise the importance of:

• Strong academic performance (GCSEs, A-Levels, and undergraduate degree)
• Well-rounded CV with evidence of leadership, initiative, and teamwork
• High performance in assessment centres and interviews
• Genuine motivation for a career in accounting or consulting

Conclusion: Should You Pursue a Master's Degree?

If your goal is to secure a graduate role at one of the Big 4 accounting firms, a master’s degree is not essential. The firms are more focused on finding candidates with solid academic backgrounds, interpersonal skills, and the potential to grow into accomplished professionals within their organisations.

However, in certain cases—a career change, a desire to specialise, or closing a knowledge gap—a postgraduate qualification can be a strategic move. Individual circumstances, finances, and career aspirations should guide your decision.

Ultimately, experience, drive, and strategic planning often outshine additional years in the classroom. Whether you pursue a master’s or not, make sure every step of your academic and professional journey aligns with your long-term goals.