Summation of Our Latest Benchmarking Results

With the initial results of our December 2021 Charge Rates & Salaries Benchmarking report released prior to Christmas, we have been able to update both participating and non-participating firms with the very latest key performance indictors within Australia’s public accounting firms. This report is suitable for sole practitioners all the way through to second tier firms, providing vital data applicable to professional and administrative personnel.

Some key highlights from this year’s survey include:

• Profitability is on the rise in most regions and is generally above the historical norm
• Fees managed per partner, as well as other notional productivity results, are all elevated by between 3.3% and 5.3%
• The size of proposed charge rate and salary reviews remain conservative
• Partners’ reward for effort illustrates a rise in both total package, as well as per partner profit values
• Raw grow remains tough
• Average staffing costs are up by almost 3%
• Earn and recovery rates are mostly positive with write off improvements variable

With much being said about the looming ‘Great Resignation’ and the desire of employees to gain greater work/life balance, it remains as important as ever to know that your remuneration levels are competitive with market and your charge rates meet expectation to help achieve desirable practice performance and profitability. To obtain your copy of this insightful report, as either a participating or non-participating firm, click here.