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Posted by David Swan on Wed, Oct 19, 2016 @ 07:40 AM

Findings from the recently released CBIZ Tofias 2016 Architectural Survey indicate Greater Boston area firms continue to take on more hours, but with more hours being spent on indirect services.

The survey, which has been produced for more than 30 years, compares 2015 financial information for architectural firms in the Greater Boston area to data from previous years. Total firm hours have increased, rising from 106,621 in 2014 to 115,704 in 2015, but a greater percentage of hours are being spent on indirect hours, 36.3 percent in 2014 compared to 37.3 percent in 2015.

Ripple Effect

Increases in indirect hours can lead to increases in overhead costs because indirect labor is one of the largest expenses that make up a firm’s overhead. The rising indirect hours have left a mark on overhead for area firms; overhead rates reached a five-year high of $62.77 per direct hour. Firms may be able to lower their overhead by increasing their direct labor utilization rate.

Take a Deeper Dive

The CBIZ Tofias 2016 Architectural Survey explores these and other trends in more detail. Learn more by completing this form or clicking on the image below to receive your complimentary copy of the 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 2016 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, Boston, 2016 Architecture Survey, architecture, survey, 2016 survey of architecture firms

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