Earlier this month we released our June 2023 Charge Rates & Salaries Survey following a pleasing rate of registration over the preceding couple of months. We had firms of all sizes participate, ranging from a couple of hundred thousand in turnover to the Second Tier firms, with data received across the five major States.

There were some really pleasing results in select KPIs, whilst others reminded us of the struggles that other areas have been experiencing of late. Some of the wins and the losses look like this:

  • All regions within the various States now have profitability prior to any partner benefits better than the old measurement of 33%
  • Notional productivity, ie the level of fees managed / contributed per partner, per professional staff and per all staff, continues to rise with virtually all regions with $1+ Mill per partner and $200K+ per professional staff member
  • The magnitude of the proposed rate and salary increases, whilst mostly higher than last year, particularly for professional staff, certainly don’t match inflation
  • Real growth remains stubbornly hard to find for many firms without the obligatory increase in rates. Ie, increases in revenue are mostly being driven by rate / fee increases.
  • One significant area of improvement is in WIP and debtors, which continues the trend lower, probably in part due to monthly billing
  • Earn and recovery rates continue to move higher, whilst write offs are mostly on the improve
  • Unfortunately, average staffing costs continue to rise despite the utilisation of outsourcing or offshoring
  • Staffing numbers are tending to look more positive except for some country regions.

To secure your copy of this latest report and key data, click here to download a registration form. Registrations can be as participating or non-participating firms.

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