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Posted by David Swan on Mon, Oct 23, 2017 @ 04:23 PM

Overhead expenses continue to increase for Greater Boston area architecture firms. Our 2017 architectural survey found that overhead rates jumped from $62.77 per direct hour in 2015 to $67.83 in 2016. A number of factors contributed to the increase, including the decline in direct hours charged by area firms.

The latest survey shows a continued pattern of increasing overhead rates, with the 2016 level nearly $10 more than the overhead rate recorded in 2012. Architecture firms can stem the tide of overhead costs by carefully evaluating their charges for indirect hours, the biggest expense contributing to overhead costs. They may need to consider “right sizing” staff to devote more resources toward billable hours. Adjusting staffing levels may also help keep average billings per direct hour at a steady rate.

Learn more about other financial benchmarks and trends affecting the architecture sector by downloading our 2017 survey.

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Dave SwanDave Swan is Managing Director in Charge of the CBIZ Tofias Architecture, Engineering & Consulting Practice. He can be reached at 617.761.0734 or DSwan@cbiztofias.com.

 

 

 

© Copyright 2017 CBIZ, Inc. and MHM. All rights reserved. Use of the material contained herein without the express written consent of the firms is prohibited by law. This publication is distributed with the understanding that CBIZ is not rendering legal, accounting or other professional advice. The reader is advised to contact a tax professional prior to taking any action based upon this information. CBIZ assumes no liability whatsoever in connection with the use of this information and assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

Tags: David Swan, architecture firm, architecture, survey, 2017 architecture firms, 2017 arch survey, Greater Boston Architecture

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