Data from about half of firm participants in the 2023 IPA Practice Management Survey shows impressive organic growth and a jump in partner compensation, but turnover is up as well. IPA had received 314 completed surveys as of May 19 and expects to analyze more than 600 by the deadline at the end of this month. In the meantime, check out a few in-process data points. The following comparisons are measured against all non-Big 4 firms in the full 2022 IPA Practice Management Survey.
Organic growth in net revenue is 11.5%, compared with 9.9%.
Firms are drawing an average of 63.7% of their revenue from a traditional charge hours x rate formula, compared with 64.1%.
Personnel costs represent an average 48.6% of net revenue, compared with 48.2%.
Average compensation for equity partners is $622,885 and $237,083 for non-equity partners, compared with $617,898 and $235,575, respectively.
Average turnover for professional staff is just under 19%, compared with 15.9%.
This is just a small sample of the wide range of benchmarking data that will be available in the 2023 IPA Practice Management Report. Order your copy by June 30 to take advantage of preferred pricing.
