This may be one of the worst recessions in a generation. But CPA firms should be uniquely positioned to ride it out.
New data from IOMA, a BNA company, shows strength in profits and compensation, even while billing rates slip:
- Partner compensation (excluding bonuses or perks) rose slightly to $347,071 for the highest-paid owner group in 2008.
- For owners in the middle or average compensation range, compensation declined 5.6 percent to $204,292.
- Average net income per partner increased slightly, from $280,009 in 2007 to $283,364 in 2008.
- Billing rates for CPA firm owners declined on average $4 per hour to $225 in 2008.
- Billing rates were also down for supervisors/managers, seniors, juniors, and non-CPA juniors.
- Paraprofessionals held steady at $81.
- Marketers were the exception, with a 24 percent increase to $152 per hour.
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