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Go for Deloitte without second thoughts if you're looking for growth. Work life balance depends on project.
It actually depends on the level you are at. If you are in first 5 -7 years of career, go with Deloitte else go for cognizant. With cognizant you will have a better chance of on-site and client facing roles while with Deloitte you will have good learning but be stuck with doing back end work only for US clients.