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Posted by David Swan on Tue, Jul 31, 2018 @ 11:15 AM

Boston area architecture firms had another banner year. Our 2018 Survey of Architectural Firms in Greater Boston found that area firms recorded high profits-per-direct hour and improved their use of direct billable hours compared to previous years.

Looking at survey data year-over-year may be useful when planning for the future, as the results may point to patterns that could affect firms’ bottom lines. The following are some of the key trends we have noted that firms may want to monitor.

Indirect Hours May Be Increasing Again: Total indirect hours have crept up over the past few years. Firms had managed to reduce their total indirect hours from 2015 to 2016, but indirect hours in 2017 exceeded the previous year’s levels. To help maintain profitability, firms should consider how to limit time spent on non-billable activities.

Overhead Rates Stabilizing: Overhead rates per direct hour have increased each year since 2013, but the rate of the increase slowed in 2017. Strengthening the direct labor utilization rate may be able to stem the tide of overhead cost increases in the future.

Direct Hours Flattening: The total number of direct hours remained about the same in 2017 as the year before. Firms should try to increase their revenues with more work and direct hours to offset labor costs, which we anticipate will rise.

Take a Closer Look at the Results

For more detail on key trends and industry statistics, click on the image to download your complimentary copy of our survey.

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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.

 

 

 

Tags: David Swan, architecture firm, Boston, architecture, survey, Greater Boston Architecture, 2018 Arch Survey

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