- About Ernst & Young (EY)
- What distinguishes Ernst & Young (EY)?
- Why work at Ernst & Young (EY)?
- Benefits
- Career Growth
- Compensation
- Employees Experience
- Events and Activities at Ernst & Young (EY) - Outside work
- Awards
- Notable Alumni
- Other Resources
- What is Ernst & Young (EY) looking for?
- Getting Hired at Ernst & Young (EY)
- Interview Questions
- Reviews
- Conclusion
About Ernst & Young (EY)
Ernst & Young is the world’s fourth-largest public accounting business. In 1989, the world’s third-largest accounting firm, Ernst & Whinney (located in Cleveland, Ohio), combined with the sixth-largest firm, Arthur Young (based in New York), to become what was then the world’s largest accounting business. Ernst & Young was one of the “Big Five” accounting companies (Arthur Andersen, Deloitte & Touche LLP, KPMG Peat Marwick, LLP and PricewaterhouseCoopers) that controlled the industry as of 1999.
Ernst & Young was a private partnership owned by its senior partners. Ernst & Young largely served the world’s major corporations as auditors. It also specialized in tax assistance for global corporations. In recent years, the firm has shifted its focus to management consulting, advising customers on topics such as risk management, mergers and acquisitions, and current worker-management relations trends. Information technology consultancy and legal services were among the other services offered.
History
Alwin C Ernst and Arthur Young – Founders of EY
Source: Pinterest.com and LinkedIn
To become the world’s leading global organization that EY is today, bold leadership and countless contributions from people all over the world were required. EY’s origins can be traced back to the nineteenth century and its founders, Arthur Young and Alwin C Ernst.
Arthur Young was born in the Scottish city of Glasgow. He earned a law degree but became interested in banking and investing. He moved to the United States in 1890 to pursue a career in accounting. In 1906, he and his brother Stanley established Arthur Young & Company, an accounting firm.
Alwin C. Ernst was born in Cleveland, Ohio, in the United States. He worked as a bookkeeper after graduating from high school. He and his brother Theodore then founded Ernst & Ernst, a modest public accounting firm, in 1903.
Both Arthur Young and A. C. Ernst were pioneers who recognized the value of high quality in their work. Ernst was the first to propose that accounting data could be utilized to make business decisions and improve clients’ businesses. He instilled in his employees the desire to provide superior service to their customers. Young marketed himself as a business consultant as well as an accountant.
Both men recognized the value of their people. “The success of Ernst & Ernst depends entirely on the character, ability, and industry of the men and women who make up the company,” the firm’s operating philosophy declared in 1920. Young was a proponent of professional development. He founded a staff school in the 1920s, and the firm was the first to recruit from university campuses in the 1930s.
Both companies were keen to penetrate the global market. They partnered with well-known British enterprises as early as 1924: Young with Broads Paterson & Co and Ernst with Whinney Smith & Whinney. These were the first of many agreements for both companies, which created offices around the world to serve their global clients.
A. C. Ernst and Arthur Young never met in life, but died just a few days apart in 1948. Their philosophies, however, lived on and were brought together in 1989 when the firms they founded merged to form Ernst & Young. The new organization quickly established itself at the forefront of rapid globalization, new business technologies, and ongoing business changes
A. C. Ernst and Arthur Young would be proud of the outcome: a global organization of 312,250 people who share their ideals and passion for helping to build a better working world.
| Website | https://www.ey.com/en_gl |
| Founder’s Name | Alwin C. Ernst and Arthur Young |
| Founded | 1989 (through a merger of Ernst & Whinney and Arthur Young & Co.; oldest component from 1849) |
| Headquarters | London, England, UK |
| Industry | Professional services |
| Locations | Over 700 locations in 150 countries |
| Key People | Carmine Di Sibio (Chairman, CEO) |
| Number of Employees | 312,250 (2021) |
| Revenue | US$40 billion (2021) |
| Consulting Services |
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| Industries |
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| Social Media |
EY’s mission is to create a better working environment. The firm’s insights and high-quality services contribute to the growth of trust and confidence in capital markets and economies around the world. The firm develops exceptional leaders who work together to deliver on its promises to all of its stakeholders.
In a world that is changing faster than ever, EY’s purpose serves as its “North Star,” guiding its more than 300,000 employees and providing context and meaning to the work the firm does every day. The firm assists digital pioneers in combating data piracy, guiding governments through cash-flow crises, unlocking new medical treatments through data analytics, and pursuing high-quality audits to build trust in financial markets and business. In other words, the firm collaborates with entrepreneurs, businesses, and entire countries to address the world’s most pressing issues.
The firm helps its clients capitalize on new opportunities and assess and manage risks to deliver responsible growth through its four integrated service lines — Assurance, Consulting, Strategy and Transactions, and Tax — and its deep sector knowledge. Its high-performing, multidisciplinary teams assist them in meeting regulatory requirements, keeping investors informed, and meeting the needs of stakeholders.
A better working world, according to the firm, is one in which economic growth is both sustainable and inclusive. The firm is constantly striving to improve the quality of all of its services by investing in its people and innovating. The firm is proud to collaborate with others – from clients to broader stakeholders – in order to use its knowledge, skills, and experience to help fulfill its mission and make positive changes.
- People who exhibit integrity, respect, teamwork, and inclusiveness
- People who are full of energy, enthusiasm, and the courage to lead
- People who form relationships by doing the right thing
What distinguishes Ernst & Young (EY)?
Source: Great Place to Work
EY is the most successful firm in their network, serving more S&P 500 firms than any of the other Big Four, and in the UK, they serve as many as PwC but fewer than Deloitte. EY’s mission is to “Build a Better Working World.” They have expanded into other professional services, as have the other Big Four firms. EY was recently named a global leader in digital business transformation, putting them in direct competition with Accenture, Capgemini, and IBM.
Why work at Ernst & Young (EY)?
81% of employees at EY say it is a great place to work compared to 57% of employees at a typical U.S.-based company.
94%
People here are given a lot of responsibility
93%
Our customers would rate the service we deliver as “excellent”.
90%
Management is honest and ethical in its business practices.
90%
I’m proud to tell others I work here.
90%
When you join the company, you are mode to feel welcome.
Diversity, inclusiveness, and your career
When organizations build a culture that values all dimensions of diversity – one that provides equitable opportunities for people to grow, learn and advance – it creates an environment where everyone thrives and where people can experience a true sense of belonging.
Karyn Twaronite
EY Global Vice Chair – Diversity & Inclusiveness
You’ll find a diverse and inclusive culture at EY, where you’ll be accepted and respected for who you are. The company wants you to feel like you belong here because your individuality helps it stand out.
The company believes that by valuing differences and working together to build safety and trust, it can overcome the most difficult challenges. Diverse points of view are the catalysts that lead to better questions and answers. That is when creative ideas begin to flow, sparking innovation and inspiring more effective solutions.
The firm welcomes everyone, regardless of who they are or what their background is. Each of us is unique, and the firm values and respects all EY employees.
Corporate responsibility
As a proud member of the United Nations Global Compact (UNGC), the global EY organization is committed to advancing the SDGs and aligning strategy and operations with the UNGC Ten Principles.
EY people are devoting their time to SDG-focused projects through the EY Ripples program, bringing together the combined skills, knowledge, and experience of the global EY network in pursuit of one shared vision: to positively impact one billion lives by 2030. Simultaneously, the firm continues to challenge itself across the global EY organization to embed responsibility, inclusiveness, and sustainability more deeply in everything the firm does. This includes global commitments to uphold and promote human rights, as well as to innovate toward a net zero future.
Together with clients and other like-minded organizations, EY people use their unique skills, knowledge, and experience to bring about positive changes in three areas:
- supporting the next generation workforce,
- collaborating with impact entrepreneurs, and
- accelerating environmental sustainability
These are the areas where the firm believes its combined capabilities can have the greatest impact — where each ripple that begins has the potential to grow and join with others to create waves of change.
Innovation-driven careers
Jeff Wong
EY Global Chief Innovation Officer
EY teams are embracing new technologies to improve service delivery. Blockchain, artificial intelligence (AI), robotics, and analytics are among the innovations being investigated by the firm. This includes the use of bots, algorithms, and machines to free up your time to do more interesting – and impactful – work. Over a billion dollars has been invested in new technology solutions, client services, and innovation by the firm.
Personalized career development
EY will assist you in discovering skills and talents that you are unaware of. EY Badges, as well as Hult’s Tech MBA and Masters programs, are just a few of the innovative learning programs available to help you do just that.
EY Badges
The EY Badges program opens up a world of possibilities by allowing you to earn digital badges for skills such as data visualization, data science, and artificial intelligence (AI), as well as skills such as transformational leadership or inclusive intelligence.
To earn a badge, you must complete the required learning, challenge yourself to try new things, and contribute to the larger community. EY Badges is a portable and shareable program that demonstrates skills and commitment not only to EY colleagues but also to those in the larger business landscape.
EY Badges are your chance to constantly improve, transform, and remain relevant.
EY Tech MBA by Hult
The EY Tech MBA, which is offered in collaboration with the Hult International Business School, is assisting its people in developing both the mindset and skill set required to face the challenges ahead. It is the first fully accredited corporate MBA that is available to all 300,000+ employees in over 150 countries, regardless of role or position, and is completely free.
The MBA’s innovative virtual learning model enables its students to develop the technology, leadership, and business skills they require from anywhere in the world, at their own pace.
Flexibility and mobility
EY understands life’s complexities and challenges. The firm understands that everyone is juggling a career with other priorities outside of work, and COVID-19 has made this even more difficult for many. As a result, the firm encourages you to work, connect, and collaborate more easily and flexibly.
EY assists you in getting your work done responsibly and flexibly while managing your busy life, whether your colleagues are on a different floor, on a different continent, or completely virtual.
Alumni connections
The EY alumni network connects you to all EY people, past and present, allowing you to access more opportunities, resources, and people you need to know in the future. It’s a win-win situation, as alumni may continue to build on the legacy they established at EY while also assisting EY in fulfilling its mission to create a better working world.
It’s not just about what you know or who you know today; it’s about who you get to know. Working at EY places you at the center of a worldwide network of people and experiences that is linked and exclusive. Become a part of something unique. Keep in touch.
Competitive compensation
The firm offers a base compensation that is competitive on the outside, equitable on the inside, and performance-based. It also offers a variety of pay options, including annual incentives, just-in-time recognition rewards, and client-serving promotion bonuses.
Generous time off
You work hard every day and require downtime to recharge. The EY flexible vacation policy allows its employees to work in a flexible work environment because there is no set number of vacation days allotted to each employee annually.
Employees at the firm have the freedom and discretion to choose when and how much vacation they require. Furthermore, in the United States the company provides 19 paid holidays, including four-day weekends for Memorial Day, Labor Day, and Thanksgiving, as well as week-long Summer and Winter breaks.
For example, EY provides 16 weeks of paid parental leave for US staff and US partners and principals with at least one year of service to help those transitioning to parenthood.
Salaried employees in the United States are also entitled to up to 10 days (80 hours) of paid time off per calendar year for personal care when they are unable to work due to the need to care for family members.
Better You – Well-being – Reimagined
Better You is a firm commitment to assisting you in achieving the vitality required to perform at your peak both inside and outside of the workplace. It is the company’s comprehensive approach to well-being, offering you carefully curated benefits, programs, and tools for your physical, emotional/daily life, financial, and social well-being.
Physical support
Whether you prefer Open Access Plan options or a high-deductible health plan with a Health Savings Account option, the firm offers a variety of high-quality health care coverage.
Gympass operates the world’s largest network of gyms, bootcamps, and studios. Gympass enables employees to live healthier lifestyles by giving them access to over 10,000 fitness facilities in the United States through a single monthly membership. Furthermore, Gympass W, EY’s new digital platform, allows employees to access streaming and on-demand workouts.
The EY Well-being Fund reimburses most US professionals for 75% of the cost of gym memberships, exercise equipment, ergonomic home office furniture, and other expenses, up to $1,000 per year.
For a second opinion on recent diagnoses and expert consultations regarding treatment plans for ongoing conditions, 2nd.MD provides employees and their eligible dependents, as well as parents and parents-in-law, with no-cost access to top physicians from top-rated medical institutions across the US for a second opinion on recent diagnoses and expert consultations regarding treatment plans for ongoing conditions.
Pathways to Parenthood assists aspiring parents in covering the costs of assisted reproductive technology procedures (e.g., in vitro fertilization), adoption, and surrogacy up to $50,000. After a year of service, employees are entitled to 16 weeks of paid parental leave.
Pathways to Transition provides employees with $25,000 in coverage for gender transition-related expenses that are not covered by a medical plan.
Learn more about how the firm can help you with your physical well-being.
Emotional support for life’s events and to build resiliency
EY Assist offers a variety of world-class support services to assist you and your loved ones in better managing life’s events and transitions. It’s your one-stop shop for counseling and consultations available 24 hours a day, seven days a week. The following services are completely confidential and are provided at no cost to you and your family members in your household:
- A licenced mental health clinician may provide up to 25 free visits per year/per issue (services are available face-to-face, by phone or web video sessions)
- Help with life’s transitions (e.g., marriage, divorce, starting a family and caring for ill loved ones)
- Family, legal, mental health, addiction, and stress management referrals
We Care provides a framework for understanding the signs that someone may be struggling with mental health, addiction, or another personal issue, as well as how to help.
EY provides free access to meQuilibrium (meQ), a digital support resource that teaches employees how to manage stress, build resilience, and maximize potential. MeQ is a product of over 20 years of research in positive psychology, resilience training, and integrative medicine. It has been scientifically proven to increase resilience and overall well-being.
Sleepio – EY’s digital sleep improvement program – will provide you with your Sleep Score, sleep tips, and weekly guidance to help you improve your sleep and overcome sleep problems like insomnia.
Flexible working enables teams to mutually determine new ways of working that meet client needs, while also allowing you to devote time to what matters to you, allowing you to fully engage in work and life outside of work.
Learn more about how EY supports your emotional well-being.
Financial support to plan your future
EY 401(k) plans offer a variety of investment options and matching contributions, with EY matches vesting gradually after two years of service and fully vesting after five years.
Early retirement options, lump-sum or annuity payout options, and pre-retirement survivor benefits for your spouse or registered domestic partner are all part of the EY pension plan.
EY NavigateTM is a free financial planning service that assists you in creating a personalized path to financial wellness.
EY Student Loan provides repayment options for student loan debt.
EY TaxChatTM, the on-demand mobile tax preparation service, matches eligible employees with EY tax professionals who prepare and file their return in a secure, online environment.
Learn more about how EY supports your financial well-being.
Social impact programs
EY professional networks celebrate its culture of belonging by assisting its employees in expanding their personal networks, improving their professional skills, and engaging in leadership.
EY offers skill-based volunteer opportunities so you can use your professional skills and business knowledge to make the greatest impact in your communities…and advance your career.
EY employees can express their generosity by making charitable contributions such as EY Foundation matching grants, College MAP scholarships, and donations to the United Way.
Learn more about how EY supports your social well-being.
Note: The benefits listed above vary by location and country due to the rules and regulations of each location.
| Roles/Levels | Average time in the role |
| Analyst | 2 years |
| Associate | 2-3 years |
| Consultant | 2-3 years |
| Manager/Senior Manager | 4-5 years |
| Director/Executive Director | 4-5 years |
| Partner | 5+ years |
Compensation per Position/Role
| Position | Location (Base Average Salary/Per Year) | ||
| New York (in $) | London (in £) | Mumbai (in ₹) | |
| Analyst | $79,972 | £34,487 | ₹4,64,162 |
| Associate | $77,915 | £31,827 | ₹7,96,411 |
| Consultant | $83,255 | £35,066 | ₹10,50,000 |
| Sr. Consultant | $111,427 | £47,249 | ₹15,27,882 |
| Manager | $148,893 | £68,160 | ₹23,84,987 |
| Sr. Manager | $214,684 | £92,702 | ₹33,17,665 |
| Director/Associate Director | $175,000 | £140,000 | ₹48,65,885 |
| Associate Partner | – | £168,788 | – |
Source: Glassdoor, 2022
Note: (-) indicates data not available
MBA Salary at Ernst & Young (EY)
The below-mentioned salaries are typical for MBA graduates joining EY:
| EY | Base Salary | Bonus | Signing Bonus | Relocation Package |
| Consulting | $165,000 | Up to $15,500 | Up to $30,000 | Up to $5,000 |
Source: Management Consulted 2022 Report
| Experience Ernst & Young (EY) | My Why with EY? |
- 2022
#52 in Fortune’s 100 Best Companies to Work For - 2021
#63 in Great Place to Work’s Best Workplaces for Parents
#75 in Fortune’s Best Workplaces for Women
#39 in PEOPLE’s Companies that Care
#57 in Fortune’s Best Workplaces in New York
#15 in Great Place to Work’s Best Workplaces in Chicago
#6 in Great Place to Work’s Best Workplaces in Consulting & Professional Services
#41 in Fortune’s 100 Best Companies to Work For
#10 in Fortune’s Best Big Companies to Work For
#47 in Great Place to Work’s Best Workplaces in Texas
#38 in Fortune’s Best Workplaces in the Bay Area
- 2020
#20 in Great Place to Work’s Best Workplaces for Parents
#42 in PEOPLE’s Companies that Care
#33 in Fortune’s Best Workplaces in New York
#35 in Great Place to Work’s Best Workplaces in Chicago
#2 in Great Place to Work’s Best Workplaces in Consulting & Professional Services
#43 in Great Place to Work’s Best Workplaces in Texas
#25 in Fortune’s 100 Best Companies to Work For
#2 in Fortune’s Best Big Companies to Work For
#32 in Fortune’s Best Workplaces in the Bay Area - 2019
#17 in Best Workplaces for Diversity
#14 in Best Workplaces for Parents
#75 in Best Workplaces for Women
#46 in PEOPLE’s 2019 Companies that Care
#26 in Best Workplaces in New York
#5 in Best Workplaces in Consulting & Professional Services
#29 in Best Workplaces in the Bay Area
#34 in Fortune’s 100 Best Companies to Work For - 2018
#47 in Best Workplaces for Diversity
#13 in Best Workplaces for Parents
#25 in Best Workplaces in New York
#17 in Best Workplaces in Consulting & Professional Services
#52 in Fortune’s 100 Best Companies to Work For - 2017
#50 in Best Workplaces for Diversity
#20 in Best Workplaces for Working Parents
#9 in Best Workplaces in New York
#25 in Best Workplaces in Chicago
#29 in PEOPLE’s 2017 Companies that Care
#29 in Fortune’s 100 Best Companies to Work For
#13 in Best Workplaces in Consulting & Professional Services
- Arthur Blank – Co-Founder of Home Depot, Current Owner of the Atlanta Falcons
- Andrew Gould – Former CEO of Schlumberger
- Chris Kubasik – Former COO of Lockheed Martin
- Patricia Woertz – Former CEO of Archer Daniels Midland
- Cheryl Gillan – Member of British Parliament, and Former Welsh Secretary of State
| Insights | Ernst & Young Insights |
| Events | EY Events |
| Reports | EY Global Integrity Report 2022 |
| News | EY Newsroom |
| Outcomes | EY Performance and Impact |
Define your own success – and your career
EY requires your passion, talent, and energy in order to make a meaningful impact together.
Agile, growth-oriented mindset
EY believes that future jobs will be more engaging, flexible, and global in nature than ever before, and that automation will provide exciting chances to conduct more interesting work.
Many of us will undoubtedly be using technology that has yet to be invented to solve problems that have yet to be identified. As a result, while technological skill sets evolve at a quicker rate than ever before, many of them become irrelevant or obsolete at the same time.
That’s why the company now hires people based on their thinking rather than their qualifications. When you join, the firm will invest in your growth so you may continue to develop the attitude and technology competence you need to succeed.
Have an eye for opportunities where others see challenges
EY believes there are three mindsets which are critical to success in this time of near constant change: the mindsets to innovate, think analytically, and act globally.
Have an innovation mindset
Disruption should be driven by seeing future opportunities that do not yet exist and demonstrating a passion for change and innovation.
Collaborate to bring new ideas to market, and always think outside the box, even if it contradicts popular belief. Have hard skills such as forecasting and critical thinking, as well as more abstract traits such as creativity and the ability to manage and capitalize on change.
Have an analytical mindset
The ability to extract, transform, and interpret relevant data is required, as well as an understanding of the importance of analytics and data to the profession. A natural problem solver, capable of transforming complex data into simple and useful insights, and at ease sharing these findings with both internal and external stakeholders.
Getting hired at Ernst & Young (EY)
The process
A typical interview process at EY includes a combination of in-person, phone and video interviews. The firm may also ask the candidate to complete a written assessment, either online or at a testing center. The exact structure and content varies from country to country and for the position applied.
Submitting the application
The candidate profile and application submission takes about 30 minutes to complete. To apply for more than one position, or to work in more than one location, the candidate must complete an application for each one of the positions. Using the job portal, it is easy for candidates to review, update or withdraw their applications through the process.
Application review
When you submit your application online, the firm immediately sends you an e-mail confirmation that your information has been successfully received. If your qualifications and experience match the firm’s requirements, a recruiter will contact you to discuss your CV/resume in more detail. Because the firm receives so many applications, the firm can’t make personal contact with everyone who applies for a position.
Interview round
Once shortlisted for an interview, the candidate should spend time preparing to present their personality, relevant skills and experience to the panel.
Interview tips
EY asks their candidates to come prepared with responses for the following things:
- What the candidate is good at
- Things they have done in the past
- How the candidate contributed to making something successful in the past
Giving concrete and compelling examples of their work with facts and figures helps the interviewer understand the candidate better. In addition to that, researching EY and the activities they do will help to make a connection with the interviewer and discuss relevant topics.
As mentioned earlier, EY is looking for candidates who value new experiences, define their own successes, value diversity and inclusiveness and demonstrate integrity and respect. Thinking about examples to demonstrate these qualities will immensely benefit the candidate during interviews.
Some interviews will be virtual or on the phone, but the same principles apply. Preparation is crucial. Further, building a rapport with the interviewer by asking about their work and experience at EY and the team shows interest.
Once the candidate clears the interview process, a formal offer may be given by the firm.
Some of the interview questions that were posed to the candidate recently are as follows:
For the Consultant Role
- Why this company?
- Why is it a good idea for us to hire you?
- What makes you a great asset to EY teams?
- Highlight what makes you stand out and why we should be excited about having you join us.
- Why this position?
- What’s your planned career path?
- Where do you see yourself in five years?
- How do you align with the motives of the company?
- Name a time you were a leader.
- Tell me about yourself?
- What are some of your interests?
- What’s your idea about the job? Can you specify examples of what we do here to help clients?
- What are you proud of in your career?
- If you get transferred to a different EY location and you don’t know anyone or what’s happening for a given project, what would you do?
- Tell me about a time where you had a few too many tasks on your plate. How did you manage?
- What is your understanding of “Professional Skepticism”?
- Have you ever used professional skepticism in a professional manner?
- What are your weaknesses?
For Senior Consultant Role
- Why EY vs other competitors?
- How do you work in a team? What role do you take?
- How do you manage people within a team?
- Tell me about a time when you had to deal with a setback.
- A client’s report is running slow: what should you check?
- What are some of the ways you navigated challenging or competing priorities in your day-to-day role?
- If there was bad news in the press about EY and a client were to ask about it, how would you respond?
- Describe a situation where you were asked to complete a task with unclear direction.
Work-Life Balance
- The management is an inspiring and friendly group of people who are goal driven and focused. They bring in a sense of calmness and childlike inquisitiveness in the work environment.
- The firm overall is a good company. It has a great name but the work-life balance can be improved. The salary is decent among all other consulting companies.
- It is a great workplace to kickstart your career where you get to learn a lot and grow through ample opportunities. Proper work-life balance and good compensation.
Pay & Benefits
- Visibility is very good at EY with good pay. They are working on so many projects that will give you enormous growth over different verticals. Location is flexible.
Job Security & Advancement
- Productive workplace. Good opportunities. Supportive team and management. Learning and development with opportunity to interact with top management of companies.
Management
- One of the best professional experiences one could have. The management is good. Bonus is attractive based on personal experience. One of the most important things to consider is professionalism at best.
Culture
- Great working culture, and positive environment to learn. People are nice and motivated, talented people whom we can interact with easily, all are treated fairly with proper guidelines across the whole team with no stress. They understand the work and estimates properly with right leads.
- I worked at EY Full time. Overall review of the company is very good. Broad exposure, great culture, Learn a lot of things, have many opportunities to do hands-on projects.
Conclusion
The numerous honors Ernst & Young has received, including “Best Company to Work For,” demonstrate the firm’s commitment to its people and culture. It’s also one of the top management consulting organizations to work for because it provides a lot of opportunities and flexibility in terms of career advancement. With exposure to a variety of industries, sectors, and competencies, as well as offices all over the world, EY is a great place to start or advance your career.