IPA has received 337 responses to the IPA Practice Management Survey as of May 15 and expects to analyze more than 600 by the deadline. In the meantime, check out a few data points from firms that have submitted so far. The following comparisons are measured against all non-Big 4 firms in the 2023 IPA Practice Management Report.
- Organic growth in net revenue is 10%, compared to 10.6% in 2023.
- Personnel costs represent an average of 49.5% of net revenue, compared with 48.3%.
- Turnover of professional staff is 12.6%, compared to 14.4% in 2023.
- The percentage of firms that are utilizing some type of outsourcing or offshoring is 59.5%, compared with 46.7% last year.
- Average compensation for equity partners is $595,604 and $246,104 for non-equity partners, compared with $573,993 and $237,610, respectively, in 2023.
- Revenue per employee is $209,382, compared with $211,942 for all firms in 2023.
This is just some of the wide range of practice management data you can expect in the 2024 IPA Practice Management Report, which will be available in September. Order your copy by June 30 to take advantage of preferred pricing.
