The AICPA asked around and it turns out that most CPA firms across the country have a seen an increase in fees in the last couple years. That's good! Consequently, partners are doing a little better than they were just two years ago. That's good! So good, in fact, that everyone at the adult table is back to 2008 numbers:
Average partner compensation jumped to $188,500 in 2012, an increase of 10 percent over two years ago, and now stands at virtually the same level as 2008, when it was $188,572. The 2008 [Management of an Accounting Practice] survey was conducted before the steep slide in the U.S. economy, so it represents a good guidepost of recovery.
Not only is this pleasant news for the new partners, it's also music to anyone's ears that fears the senior manager parking lot because it won't be long before some of the older partners start moving on:
While overall client fees have increased for many firms, per-partner fees dropped in the latest survey. [AICPA VP Mark] Koziel said this probably reflects the addition of new partners, particularly at larger firms, which are planning ahead for the pending retirement of Baby Boom-generation leaders. This benchmarking category should improve as an expected wave of partners steps down over the next decade.
Or simply shipping out.
CPA Firms See Increase in Fee Revenue [AT]
