Amid continuing global headwinds, many senior execs from tech companies join ‘big four’ as partners

By admin Dec18,2023
Mumbai: Nearly two dozen senior executives from technology firms have joined the ‘big four’ professional services firms – Deloitte, PwC, EY and KPMG – as partners in the past year, amid continuing global headwinds for the technology industry, according to people with knowledge of the matter.

Tech firms such as Accenture, IBM and Genpact have lost talent, said the people, along with Infosys, Wipro, TCS, HCL Tech and Tech Mahindra, with some of their senior executives moving either to consulting roles as Partners or senior level implementation and operations roles at the top four professional services firms.

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Many of the senior executives have joined the big four firms with a 20-30% jump in their salary packages, the people said.

A push from the volatile global business environment for tech companies, stagnating career growth and lack of visibility for the next two years coupled with a pull from a growth in technology consulting at the professional services firms fuelled such crossovers, said industry executives.

In addition, they said, the partnership model, entailing multiple partners, at the professional services firms offers more opportunities for career progression than the vertical hierarchy at the tech companies.Some of the recent moves, tracked by ET on LinkedIn, include Jaikumar Subramanian and Mantosh Verma moving from IBM to join Deloitte as partners; Satish Pai, partner, Deloitte, who joined from Tech Mahindra; Vishvesh Prabhakar, partner, supply chain transformation, PwC, who joined from Accenture; and Bhaskar Bhattacharya, partner, financial transformation, shared services and digital finance technology, PwC, who joined from Accenture.ET’s queries to Deloitte and EY did not elicit a response. PwC refused to share names of its recent partner appointments.

“Many at the big IT companies are finding their career stagnating and the volatile business landscape is a major trigger,” a senior partner at one of the big four professional services firms told ET on condition of anonymity. “On the other hand, there is a more visible upside potential in the next five years at the professional services firms.”

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