Catching the BIG4 Migration - Standing Out in the Mid-Market Space (Q4 2025)

This shift creates both an opportunity and a challenge: mid-market firms now compete not just with the Big Four, but with each other. As Q4 2025 signals renewed growth in consulting demand, the firms that will stand out are those that can articulate their differentiation most clearly.

The Talent Shift

• Bloomberg Tax (2025): Staff are leaving Big Four firms in search of better work-life balance and greater cultural fit at mid-tier firms. 
• Fishbowl Peer Insights: Professionals note that mid-market firms often offer more flexibility, meritocratic advancement, and higher visibility with leadership.
• The Times (2025): Challenger firms like DSW Capital are actively attracting ex-Big Four staff, who are seeking alternative working models in the wake of large-firm restructuring.
• Accountancy Age (2024): Clients are increasingly valuing the long-term, trusted advisor relationships mid-tier firms can provide, versus the siloed approach of larger global players.

The Client Shift: Mid-market firms are no longer seen as a step down; they are increasingly viewed as the preferred environment for ambitious professionals seeking balance, growth, and recognition.

Perception of better value, stronger relationships, and specialized expertise is fueling this transition.

Key takeaway: As clients reconsider traditional reliance on Big Four firms, mid-market firms are capturing market share by emphasizing trust, specialization, and personalized service.

The New Challenge: Differentiation in a Crowded Mid-Market

As the consulting market regains momentum heading into Q4 2025, the landscape is changing:

• More mid-market firms are scaling simultaneously.
• Talent and clients have more choice than ever.
• The differentiators of culture, flexibility, and value — once unique — are becoming table stakes.

Case Insight: Standing Out in North America

“Firms like ours that are relatively new to the market in North America need to stand out from the crowd. We invested heavily in marketing and building our brand — attending fairs, networking, and sponsoring events. We also ensured we established a reputation as a business that engages quickly and directly with candidates during the hiring process. And by partnering with firms like Neos Talent, we’re supporting ambitious hiring plans in 2025 to build out our finance transformation practice across key U.S. states and cities.”
— Talent Acquisition Director, PE-backed Accounting Advisory Firm (Mid-Market, Denver)

This underscores how proactive mid-market firms are now required to be in both branding and candidate experience if they want to rise above the noise.

Conclusion

The real battleground for mid-market firms in late 2025 is no longer just competing with the Big Four. The challenge is differentiating within the mid-market itself as more firms attract top-tier talent and clients.

Those that succeed will be the firms that transform their perceived advantages — culture, value, specialization — into a clear, distinctive market identity.

If you are leading talent acquisition or client strategy at a mid-market advisory firm, now is the time to define what truly sets your firm apart. The market is expanding — but so is the competition.

Please speak to us to understand more: mark.nelson@neostalent.com