Net fees at accounting firms grew at an average rate of 7.8 percent, according to the latest edition of the annual Rosenberg Survey, but the ages of partners seemed to trend downward slightly.
The 19th annual edition of the survey polled 347 CPA firms with between $2 million and $20 million in annual revenue, asking about nearly 100 metrics, including data on partner buy-in, partner buy-out, compensation systems, M&A, and other areas.
The survey found the number of partners over the age of 50 declined from previous years, with 63 percent of partners over the age of 50 this year, down from 65 percent last year.
The average growth in net fees was 7.8 percent this year, but for the first time since 2006, income per equity partner growth is catching up to revenue growth. Income per partner grew from $406,000 last year to $430,000.
The St. Louis-based advisory firm The Growth Partnership collected and compiled the data for the survey. The full report sells for $500 and can be ordered from www.rosenbergsurvey.com.
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