The 2025 Charge Rates & Salaries Report is in:
Here's what we're seeing
We’ve just released our June 2025 Charge Rates & Salaries Report, and as always, it’s stirred up some interesting reflection. With participation from firms across all five major states — ranging from under $500K turnover to north of $30 million — the data provides a solid cross-section of how practices are tracking right now.
It’s a report many firms rely on to benchmark performance, review rates and salaries, and get a sense of where the market’s headed. And while the landscape isn’t without its pressures, there are certainly a few silver linings this year.
A stronger grip on profitability — but it’s uneven
Across most regions, profitability before partner benefits is holding up — in some cases exceeding that old 33% benchmark we used to talk about. But scratch beneath the surface and you’ll see the spread is widening. Not all firms are finding this climate easy to navigate, especially smaller regional ones still contending with patchy staffing and increased overheads.
Interestingly, notional productivity — that is, fees managed per partner, per professional, and across total staff — remains high. Many firms are pushing past $1M per partner and $200K+ per professional staff member. But those numbers don’t always reflect ease. For many, it’s taking more effort to get the same (or slightly better) result.
Rates are rising — but so are costs
We’re seeing a continuation of last year’s trend — rate increases across the board, but not necessarily enough to offset the ongoing jump in wages and overheads. Professional staff salaries, in particular, have edged up again, and while the numbers look good on paper, margins are still being squeezed in plenty of firms.
The good news? Firms that have adopted monthly billing models are beginning to see the upside. WIP and debtor days are improving, pointing to better cash flow and more predictable revenue — something that’s been a long time coming for many.
Salaries are steady, with some hot spots
There’s still some heat in the market for hard-to-fill roles — especially in bookkeeping and intermediate-level accounting — but overall, salary movements have calmed slightly. The gap between metro and regional pay is tightening in a few areas, which might surprise some, but it’s likely reflective of remote work enabling more parity and access to wider candidate pools.
We’ve also included some commentary this year on staff ratios, and how firms of different sizes are managing capacity — not just by headcount, but by how those heads are being used.
Growth still heavily rate-driven
True organic growth continues to be a challenge. While revenue is rising, much of that is still being driven by fee increases rather than new work or clients. That’s not necessarily a bad thing — particularly when it’s part of a planned strategy — but it does suggest the same market constraints are still at play.
Firms are getting better at maximising what they have, but new opportunities remain elusive for many, especially in saturated metro markets.
Small moves making big impacts
A notable shift this year is in practice management. Firms making even modest improvements in areas like debtor management, billing frequency, or recovery processes are starting to see disproportionate gains. Monthly billing, tighter write-off controls, and better utilisation tracking are all playing a role.
It’s a reminder that operational tweaks — rather than major structural changes — can sometimes be the difference between treading water and stepping forward.
The Big Picture
This year’s report paints a picture of a profession that’s holding steady, even as external pressures mount. There’s resilience in the numbers — but also a quiet sense of fatigue in how firms are achieving them. The pace hasn’t really let up, and while the data shows gains in a range of KPIs, they’re not coming easily.
That said, the report offers plenty to work with. Whether you’re a sole practitioner, mid-sized firm, or part of a national network, the numbers give insight into where you stand, what’s possible, and where your blind spots might be.
You can order the full June 2025 Charge Rates & Salaries Report here.
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What practices are selling for, and what is moving the numbers
Michelle’s monthly note on practice valuations, buyer activity and the conditions we are seeing across accounting, financial planning and legal firms.
