IPA Report on the Largest US Accounting Firms
The Platt Group, publishers of INSIDE Public Accounting (IPA), has released the twenty-second annual report on the nation's largest 100 accounting firms. The report offers a snapshot of the financial and operational health of the largest firms, reflecting the "state of the union" of the accounting profession. More than 400 firms completed the annual survey.
Key metrics among the 2012 IPA 100 include:
- Average revenue growth (excluding mergers): 5.6 percent.
- Average net income growth (highest since 2008): 7 percent.
- Average staff turnover: 14.9 percent.
- Average margin (net income as a percentage of net revenue) (highest since 2008): 29.9 percent.
- Average pay for professional staff (up 2.7 percent from last year): $81,062.
- Average partner billing rate (up 2.2 percent from last year): $376.
- Average equity partner compensation (up $34,000 from last year): $555,793.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.