The World's Largest Shadow Employer - Accenture
Vložit
- čas přidán 30. 05. 2024
- Have you ever heard of a company called Accenture? Well, they’re actually the 4th largest employer in the world with 733,000 employees worldwide. Most of you have likely never heard of Accenture though and that’s by design. Accenture is a consulting company headquartered in Ireland and they help all of the biggest companies and governments in the world with their busy work and their dirty work. Before being headquartered in Ireland, Accenture was actually headquartered in Bermuda. And before they were headquartered in Bermuda, they were just a subsidiary of an accounting firm called Arthur Andersen (the same Arthur Andersen that was involved in the Enron scandal). So, while Accenture primarily employs white-collar individuals, their services are much more in the gray area. This video explains the rise and controversies surrounding one of the largest background companies in the world: Accenture.
Have Companies Pay You:
www.silomarkets.com/
Free Weekly Newsletter With Insiders:
logicallyanswered.substack.com/
Socials:
/ hariharan.jayakumar
Discord Community:
/ discord
Timestamps:
0:00 - Accenture
2:12 - Shady Beginnings
6:09 - The Dark Side Of Accenture
10:03 - The Truth About Accenture
Thumbnail Credit:
Jakub Porzycki - AP
bit.ly/3WHy3AZ
Resources:
pastebin.com/kba7hRHY
Disclaimer:
This video is not a solicitation or personal financial advice. All investing involves risk. Please do your own research.
www.silomarkets.com/disclosures
It amazes me how accenture is so big despite consisting almost entirely of BS jobs.
For real 😂
almost?
Actually I work at accenture (until next week) as a sw developer, and i know planty of poeple whos jobs are not bs.
Accenture might be a law firm moonlighting as a consulting firm. Come to think of how they conduct business, they don't really care if their services suck, they focus on contracts.
@@antipoti Do they work at accenture?
Hari,
As a current employee of Accenture I am impressed with such content.
These mnc usually won't tolerate any negative comments about them.
They send legal notice here in India.
Capgemini is even worse from an ex employee perspective.
Kudos to your courage.
Sathyameya Jayathe
Appreciate the heads up Bharath!
Here in US they are leeches and bodyshops
Long live free speech!
That's a ridiculous statement. They won't do anything. They don't censor people who criticize them.
It would be stupid, they all know about the Streisand effect.
@@cedricol See Boeing it being stupid doesn't mean nothing will happen
Incredibly simplistic video; a deep tone in your voice doesn't necessarily mean that you've done some actual analysis. And if you don't know Accenture, you probably live under a rock.
1. US Salaries are not representative of the whole firm. In many countries, only accenture directors make 90K a year. 30% of Accenture employees are in India.
2. Management consulting has nothing to do with what you described; most companies simply ignore the advice given to them if they don't agree with it. If a CEO blames a consulting firm for a mistake, the board will fire them first thing in the morning. And Accenture is not even a management consulting firm like McKinsey; it's primarily a tech consulting firm, which means it works primarily with clients to install business solutions. Like it or not, no firm can do it all by themselves. A bunch of coding nerds don't know how to do their books, and a bunch of 50yo accountants don't know tech; they both pay consultants to do the job.
3. Accenture is so massive because it's the world's largest subcontractor. It's not as much consulting as it is "renting out tech-savvy employees to our clients". That's the dirty side of Accenture. It underpays overworked graduates in India and other countries so that it can offer much lower rates than its competitors. You could have easily found all this by doing some actual research.
I worked at accenture for almost 2 years now. Quit and next week will be my last here. Good timing.
at Accenture, right? not on earth.
Ex-Accenture employee here. A few corrections -
1. Accenture is based in Dublin, Ireland not just registered there for tax benefits much like rest of tech giants e.g., Apple.
2. Accenture doesn't work in shadows lmfao. Everybody in the IT industry know their brand. They often compete and get compared with big 4.
I think he was referring to the general public when he said Accenture work in the background, as in most people outside of IT had not heard of them.
@@PaulJohn01that's just as disingenuous though. It's normal you don't hear about companies in other industries Than yours.
@@cedricol Well the title does say "shadow employer" and there are lots of big well known public companies out there that people have heard of .
Take Boeing for example, big public company, large workforce, although lots of that is outsourced, people who have nothing to do with the airline industry know about them.
@@PaulJohn01 I'm not sure what your point is with Boeing. Most companies are unknown by most people, even if you can cite one (or a thousand) example that isn't. Most people travel by plane occasionally, so yes, Boeing and Airbus are quite well known. No surprise there.
The subtext that they're nefariously hiding is still disingenous. Accenture is one of the most well known IT/consulting firms out there, they even advertise on TV, in plain sight. That's hardly the behavior of a company working in the shadows.
I'd even argue that a big part of the general public knows of Accenture.
Obviously there is no other reason sitting in Ireland than taxes 😂
Accenture is also a great way to leapfrog into a better company. Work as a consultant/analyst and build your network with your customers and get hired when there's an opening
Yes Accenture is a mass recruiter for our college here in India
I bet hahaha
They have booth in uni career fair in Canada, but of all the time I applied to them I never managed to even get an interview
Accenture hires plenty of employees fresh out of college because they can easily gaslight them and work to the bone (worse with career shifters). They can find ways to make a person work 16 hours a day, seven days a week; and can easily justify why one should not be paid overtime allowance (yup no overtime pay).
@@thepinoyboomer not in Canada. Plus now i have 2+ yr exp
I attended Accenture interview in my campus placement. I had already landed an offer with Barclays so I gave Accenture interview in very carelessness manner. I couldn't believe when I was selected for the job lol. I respectfully rejected their offer and went ahead with Barclays (who fired me after 6 months because I had a wild affair with a married senior manager)
Actually it's pretty well known here b/c they'll hire programmers without experience and train them so a very large chuck of programmers (including myself) started there and then pivoted to a better paid job as ssr. instead of jr. Which is why it's popularly known as "the McDonalds of programming".
That's how I got my start
H1B visa mill. Every single analyst from Accenture I met had no idea what they were doing.
Lol! Not true
Definitely. People who want to come/stay in the US do a stint with them to get their residency then bounce to better companies
Back in the 80's & 90's , I was a programming contractor and usually worked at large companies for months or years at a time. Whenever I was at a company that Arthur Andersen was also contracting at, they were always the best dressed (and presumably, highest paid) of any of the contracting groups. None of us had any respect for them, since they never seemed to know what to do without help from one or more of the other contractors.
Consultants are fat girls who thinks they have big boob, or skinny dudes who thinks they're muscular.
I bet they cried themselves to sleep at night knowing you didn't show them respect as they used a rake to arrange their massive money pile.
Don't read my name!
@@tim3172 lmao
contracting firms do be really like that. And when a contracting firm is working closely with a non-contracting one, you can expect around the same attitude with 1-2 exceptions. source: was SE in a contracting firm working for a SV based company, people there didn't know how to use the standard library of the language and asked for help for google-able things ...
Worked with the Accenture Philippines branch, the turnover there is crazy, one dude can get replaced in like a month.
Typical with a employment agency
I did an interview with them once a few years back. The interviewer was an MIT master graduate. He was good but the job seemed bullshit to me so I went to another company.
The interview was easy, mostly Data Science related questions with python, SQL, ML, and stats verbal questions requesting you to speak the code for. That's it, no followup coding interviews. One interview round. Was surprised.
This video gave me flashbacks. Company managers using Accenture managers as human shields (padding) against accountability. This rots a corporation from within, as short sighted decisions go essentially unpunished and the shielded managers never learn their lessons and keep repeating their mistakes. Quality employees eventually get fed up with constant failures and their hard work wasted.
I've seen this with outsourcing. The outsourced Partner becomes a scapegoat (or they are often actually at fault) for failures, but their contracts prevent meaningful accountability. This is often a systemic issue going all the way to the top.
40k to hire a single person. incredible haha
😂
Don't read my name!
That's $20 an hour. Pretty pathetic pay to live on
@@spiceyfrenchtoast9421 I meant, the agency was paying 40k to this company just to hire a single border patrol agent.
@@spiceyfrenchtoast9421you clearly did not understand the video. The 40k was not in reference to the salary of an employee although it was an average salary 20 years ago. 40k is what Accenture was getting paid by CBP for every employee that they hired.
It still amazes me how people still flock to this sweatshop company.
They pay well enough in the countries they operate in. So money talks I guess.
@@kylehudsonsyou said it. One of the top payers in India.
It’s either that or going to bed hungry for some people. And nobody likes to go to bed hungry
In my country it's one of the top companies tech course graduates aim to get hired in so it's pretty well known.
what country u from?
@@veerand7038Philippines
@@veerand7038 Prob India lmao
As someone who’s been in the space for a while 16 plus years, I’d say you’re right 50 percent. Which is impressive since you dump content online and it’s your role. This video is no different than an analyst putting together a deck on a topic with a fraction of knowledge to cover the topic
This video feels like it is missing a whole section at the end, as you didn’t mention anything about Accenture specifically that is bad compared to other consulting firms other than they don’t advertise their name publicly. I usually love your videos but this one is not complete.
Exactly.
Accenture is dirty and goes after ppl
I am from India and if you see an ad for any highly paid call centre job, it's almost always Accenture or Barclays 😅, they usually pay 3X the median wage in India. I knew about them but I didn't know how big they were!
Accenture are also a terrible consultancy! Worked with them on a project and they were awful and did very little!
Oof
Accenture is pretty famous not only among corporates but also regular people. Regular people know them because just like TCS, Infosys and Wipro, here in India, they're a pretty famous mass recruiter. Even Cognizant!
I'm amazed how prolific in creating such high quality content you are. Respect the crazy work ethic man.
I used to hate watching your channel because of your accent, but it has gotten so much better, congratzz!!
companies partner with Accenture to reduce their costs as Accenture pays less, offers less benefits, and reduced PTO. All the monies saved go towards top-level executives, stockholders, and politicians to turn the other cheak
As someone who studied with some Accenture folks, there are two things I distinctly remember. First, after a few sentences, you can always tell they’re from Accenture. Second, the name "Accidenture" is spot on for describing most of them.
Anyone not living in Asia probably haven't heard of them. But they are a pretty well known company here in the Philippines alongside the likes of Cognizant and others. Mainly involved in call centers.
No, they are active in Baltic states.
Accenture and Cognizant are pretty big in the Philippines and is a great relief for those who want to get away from customer service/tech support for Service Desk.
They're also huge in -India- Bharat apparently
i wanted to work at accenture at one point but then when I went to career fairs or networking events or conferences and met accenture employees they were literally all weird and gave me a bad vibe. so now i do not want to work there at all.
I found out about this when in Chicago at the Ogilive Transit Hub. It was freaky to have it there in a nondescript space
If they have that many employees they are not a shadow employer... they have their own stock for gosh sakes.
I have not met anyone who havent heard of Accenture unless that person is 70years old.
Most likely, the mass of those employees are in call centers handling customer complains/tech support for other companies. The consulting part of their business is probably much smaller, when we are talking of employee numbers.
Accenture is a H1B Visa farm. like Cognizant. I have worked for and with both and this is what it feels like.
Not surprised haha
In light of the current economic trends indicating a potential downturn in the stock market and an impending recession, coupled with falling inflation rates, investors are advised to consider diversifying their portfolios. Exploring alternative assets such as gold and crypto trading would be a strategic move to hedge against the expected market volatility and inflationary pressures. This approach is crucial in navigating the complex financial landscape shaped by fluctuating Federal Reserve policies and the broader economic climate........Amidst this the insights of a knowledgeable guide like Kerrie Farrell can be crucial. Her expertise in navigating the nuances of cryptocurrency investments has been the key to understanding and making the most of these emerging financial trends...managed to grow a nest egg of around 4 b,tc to a decent 21 b,tc in the space of a few months....
I've just looked up her full name on my browser and found her webpage without sweat, very much appreciate this..
Investing with an expert is the best strategy for beginners and busy investors, as most failures and losses in investment usually happen when you invest without proper guidance. I'm speaking from experience..
I rather invest my money on crypto. Bitcoin trading is great unlike the stock market and other financial markets, bitcoin has no centralized location , since it operates 24hrs in different parts of the world...
The fact that i got to learn and earn from her program is everything to me think about it, it's a win win for both ways...
On the grand scheme of things, once you understand the potential of trad!ng, you can bet on it but I think people need the education to fully understand..
I love your content...you give insight that helps to make logical career and business decisions
🙏
Great video as always
Thank you as always Balpreet!
I feel like this video misinterprets what is driving the high employee count. I would be extremely skeptical if most of them are consultants paid at consulting rates. I would imagine a huge chunk is BPO and loan staffing for it operations.
A lot of corporations also hire IT consultants simply because they don't have the all skills in house. Like legacy banks and wealth management companies, airlines, hotel chains, pharma, etc.
One might think Accenture pays really well. But if you use salary/very long hours period, you will end up just average pay. So it depends on whether you want to make mandatory OT for whilte collar or not
I felt this is cherry picked, honestly you can say something similar from any other big consulting firm
I love your content keep posting more and keep going❤👍👍👍
Mckinsey has 45k employees despite being one of the biggest consulting firm. Why does accenture have so much more employees ?
I believe McKinsey primarily does management consulting. Accenture does a bunch of tech, engineering, and biotech work.
I didn't know every Tech Company relied on Accenture
The background checks to get into us border patrol is no joke and Accenture wasn’t adequate to do the job anyways. I have friends in border patrol and one of them was not accepted. They called my dad asked lots of questions about him and called me as well. Pretty extensive questioning and I could tell they knew stuff 😂
A while ago I was at a job fair where accenture was also there, but their logistics messed up and they didn't have any big stands with flyers etc. They didn't have any at all. It's kind of funny that such a big company can make mistakes, or rather their logistics.
Cool, you make me really want to work there.
Good, going to write an application.
Good luck!
Accenture is a big BPO company here in my country (Philippines)
But they don't pay well, only $200-$500 for call center agents. My cousin works there
I'm surprised that they don't pay well considering they're pretty well known here for people who wants to get jobs at IT. My application there wasn't read until I was already working a year on another job as a Service Desk analyst.
lol 200 USD? you are lying bruh
@@lyrad4584lol no bruh, minimum wage in the Philippines is at 15k which is $272 USD per month. Most foreign companies take advantage of this.
Accenture employees in other countries are paid like shit to. Payscale barely competitive and pay raise is basically non existent
They are the most shady company I've ever worked with. One of my previous employers brought them in to some tech work (well may be they " convinced" 😉😉 some higher-ups that they can make thibgs better).
When we had meetings, they bring at least 6-7 people. But only one person is required for it.
- the engineer - person who does the actual work
- some one to take minutes
- a project manager
- a backup engineer - this guy doesn't do the work
- then they'd dial in a 2-3 people from Europe.
Well it's never a single engineer who can do all the work. Even in a relatively small project (3 - 6 months), you'd need a team - a backend developer, a front end developer, a tester, maybe a devops person, maybe a software architect partially allocated to the project, same for a project manager, etc.
@@aditya_on_youtube do you know that you have zero knowledge about the projects that I'm talking about, but you went ahead and gave a description for a generic software development project?
What a joker.
@@aditya_on_youtube you sound like really good Accenture consultant 😂
@@djstr0b3 you just reminded me why I stay away from CZcams comments section. It's because of jerks like you who are so upset about their own lives that they just want to find a vent to take out their frustration at random people. I hope you find some peace. I'm not engaging in this conversation with you anymore.
It's average starting salary in India is as little as $4000.
Per year..
4000 per year is the starting salary... Bro
That's not half bad considering other tech and consulting firms pay even less. Plus that's almost double the per capita GDP of India.
As of 2022 the us federal government has 2.87 million employees. Which would make it the single largest employer. If you count state governments combined they are 19.3 million employees which dwarfs all.
Most of those jobs are fake and produce 0 value
I can't be the only one who instantly thought of the Office Space consultants meme.
This explains a lot.
The irony is I get job interview by Accenture today but I asked to postponed it tomorrow for they just informed me this morning.
Is there something wrong with audio at 6:03
Are there really that many people who've never heard of Accenture? I feel like I meet Accenture employees everywhere.
Remember George Clooney’s character in the movie “Up in the Air?” Yeah. That.
On the contrary, Accenture is quite popular in India and the Philippines.
I know of Accenture being a sponsor in Formula one (the haven for shadow organisations).
I hope you do Cognizant next.
Am I the only one who knows about most companies he talks about
You must be in the know haha
Nope. I’ve known Accenture for years!
I never heard of Accenture before I started searing for jobs and internships in college
Maybe the military should hire them for next gen level stealth since they are so good at it.
I may have missed something, but the title, beginning and end of the video tells about how big of an employer Accenture is. But why do they have/need so much emplpyees?
Because they have thousands of contracts worth billions and each contract needs a team of individuals to get stuff done.
You may want to look into how many companies they been acquiring its in the public domain. just today I saw completed acquisition.
i remember seeing accenture ads on the TV
Surface level video.
Accenture is directing responsible for the downfall of several companies as well as the American tech worker.
I’ve personally worked with a few public companies who brought in Accenture and then their problems got much worse.
Hey, I suggest you to make an video about Patrick collision. BTW love your content!
thanks for making this video i was on companiesmarketcap like a week ago sorting by employees and thinking to myself "dafuq who are these guys employing 750k people with nobdy knowing"
Same 😂
I'm surprised that you didn't hear about Accenture until now. Back in mid-2000s they had a marketing campaign going on with Tiger Woods as their brand ambassador. Also, in India, they're a massive employer. So most people know about them.
The US Military has 1.29 million active duty troops. Accenture alone has 720,000 mercenaries. It's market forces at work.
Former staff here, good for start your career.
Not long term career.
I'm a big fan of your content from Nigeria
Keep the good work going 💯
Which state are you from in Nigeria...I am speaking from Ibadan, Oyo state
I would love to see an in-depth video from you about DHL.
Meanwhile in the Philippines, Accenture is everywhere with there BPO centres all over large cities.
I have a question, if anyone knows to answer. Why choose to go to Bermuda or Ireland for tax reasons? I mean, are there not tax heaven states in the US (like Wyoming)? My question may seem trivial to answer, but I am not from the US...
In a world of choices, Revux stands out.
That mega factory that sits third is in Taiwan not China
currently working at Accenture
0:15 Foxconn is not Chinese, they are Taiwanese.
In the Philippines, Accenture is very very big. Massively big.
Where are the world governments on the list of largest employers?
also one of the worlds largest data brokers/buyer and seller of pilfered private data
U.S. Department of Defense (3.2 million employees)
People's Liberation Army (2.3 million employees) according to Claude.
Make video on TCS a company the susth biggest employer in world. Even in india many people don't know about it
Thanks for the suggestion man!
Either incopetent or in association? Why not both? Can't they be useless and corrupt?
I'm a somewhere in the middle kind of guy.
I bought from Amazon and I’m being the most favorite.
Accenture also taken to task in lawsuit for unpaid labor. Many, MANY lawsuits against this company. A cursory review of the companies reputation will give a good picture of what goes on in reality.
They may not be known maybe in the west but they are very common and are typical in Asia. Basically whatever is big on the west doesn't automatically translate on the east, and vise-versa.
The only reason I'm familiar with Accenture is because they took ma job😢
Analyzing Revux potential for exponential growth.
If they paid full freight in tax one would doubt their accounting skills
So consultant are high payed scapegoat for CEO or the company that hured them
Joining the ranks of Revux enthusiasts!
Foxconn is Taiwanese bruh
Revux community - a force to be reckoned with.
Decoding Revux DNA: innovation and reliability.
... What? Accenture is very well known in Europe. Nothing shadowy about them either.
I'm invested in this and 25% taxes on dividends makes Ireland quite annoying.
😂
Actually the NHS in the UK and the Chinese army employ more.
Merci "LogicallyAnswer-..."...
Milli ⚜ 🌌
I usually like your videos but...My question is...why use a McKinsey scandal to say Accenture pushes companies to do the wrong thing? You should use an Accenture scandal to say they do the dirty. So they moved to Ireland. So what? How many other companies have done so? That doesnt explain anything. I usually agree with you but your example is a cop out and doesnt have the evidence to substantiate your claim. This video has disappointed me very much...
The payrate of Accenture in the Philippines is shit! $200 per month.