2008 Rosenberg MAP Survey

Source: Press Release, The Rosenberg Associates

The Rosenberg Survey says most experts believe 2007 will mark the end of the five-year boom in demand for CPA services.

At firms with annual net fees of more than $2 million:

• The annual growth in fees was 10.8 percent, down from 11.4 percent in 2006, the first year of decline after three years of increases.
• Average income per partner was $369,000, up from $350,000.

Although revenue grew 10.8 percent, profits increased only 5.4 percent. The reason: implementation of aggressive succession planning strategies, including developing staff into partners and consummating mergers, has increased the number of partners to whom profits are allocated.

Firms in the $2 million to $10 million range saw revenues increase 9.7 percent and profits increase 7 percent, to $331,000 per partner. Because these firms were less successful in hiring staff, partners made more but worked harder.

Hiring should be easier in 2008 because of the SOX and economic slowdowns and the increase in accounting graduates.

The increase in the search for upward mergers has created a buyers’ market.

Accounting Today hailed the Rosenberg Survey as “the barometer for practice management for midsized CPA firms.”

To read the complete press release, click here.

The Rosenberg Survey can be purchased for $450. Call 847-251-7100 or order at www.rosenbergassoc.com.

From Rosenberg Associates Ltd., Wilmette, IL, www.rosenbergassoc.com.

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