How Managing Partners Spend Their Time [PRO Member Exclusive]

By Marc Rosenberg
Author of “CPA Firm Management and Governance.”

Managing the firm, rainmaking, client management. All vie for the managing partner’s time.

Marc Rosenberg

Marc Rosenberg

Statistics from The Rosenberg Practice Management Survey show:

Firm Size Annual Billable Hours % MP to All
Managing Partner All Equity Partners
Over $20M 632 1,079 59%
$10-20M 736 1,090 67%
$2-10M 959 1,117 85%

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Armed with the above, my experience with firms would indicate that the managing partner’s time is spent as follows:

Over $20M $10-20M $2-10M
Managing the firm 54% 38% 21%
Rainmaking 21% 16% 12%
Client management 25% 46% 67%
TOTAL 100% 100% 100%

Managing a large client base and doing billable work that can be delegated to other partners are activities that the best managing partners avoid or minimize. They see the following as their main focus:

  1. Manage the firm.
  2. Bring in business.
  3. Assisting at a very high level in overseeing the firm’s largest clients and participating in sales pitches for new, large clients.
  4. Very small number of billable hours, limited to sophisticated consulting projects with large clients.
(Copyright 2010-2012 Rosenberg. Adapted with permission.)