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Posted by David Swan on Mon, Sep 9, 2019 @ 07:20 PM

Tools and papers with sketches on the tableResults from CBIZ & MHM New England’s annual architectural survey are in, and all indications suggest area firms did well in 2018. Really, really well. Profits per direct hour reached a record high, and direct labor utilization rates soared to among the highest in the nearly 35-year history of our survey.

One of the key ways survey respondents optimized their financials involved their use of indirect hours. In 2018, total indirect hours fell to 34.1 percent of total hours compared to 38.5 percent the prior year. Lower indirect hours meant lower indirect expenses and lower overhead costs, and it helped firms keep their billings per direct hour to a nearly $3 year-over-year increase.

So how did your firm do? Comparing your percentage breakdown of hours, indirect expenses, average employee hourly rate, and other figures to our survey results can reveal where you rank among your competitors. That benchmarking data can help inform future planning efforts and strategic initiatives.

Click on the image below to see where you stand and download your complimentary copy of our 2019 Architectural Survey.

 2019 Arch Survey CTA

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Dave Swan

Dave Swan is the Managing Director in Charge of the CBIZ & MHM Architecture, Engineering & Consulting Practice in New England. He can be reached at 617.761.0734 or dswan@cbiz.com.

 

 

Merrill-Puopolo-Web Color(1)

Merrill Puopolo is a Managing Director in the CBIZ & MHM Architecture, Engineering & Consulting Practice in New England. She can be reached at 617.761.0727 or mpuopolo@cbiz.com.

 

 

 

© Copyright 2019 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, architecture, survey, Merrill Puopolo, 2019 Arch Survey

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