the cpa industry’s largest, most authoritative annual report
by cpas, for cpas

the rosenberg map survey is the best-known, most-respected independent study in the profession – for its accuracy, thoroughness, and high participation rate.

high-impact data and insight

the 2025 rosenberg survey delivers critical benchmarking data and insights that can directly shape practice management strategies. firms can leverage these findings to sharpen profitability, strengthen talent pipelines, and build resilient business models for sustained competitiveness.

informed decision-making

the report provides granular benchmarks on profitability, fee growth, partner income, billing rates, and utilization. with income per equity partner ranging from $314,000 to $742,000 and billing rates up 6.1%, firms can compare against peer performance, spot underperforming metrics, and set measurable improvement goals.

strategic planning and growth

survey data on fee growth expectations (7.5%–8.8% in 2025), utilization rates (54.1%–57.4%), and staff leverage enable firms to create strategies that reflect realistic growth trajectories. analysis of elite firms highlights best practices in pricing, margin management, and governance that other firms can adapt to achieve superior efficiency.

talent and compensation management

with turnover at 11.7% and rising challenges in the senior-to-manager pipeline, the report underscores the urgency of recruitment and retention strategies. compensation trends and evolving staff-to-partner ratios give firms evidence-based tools to design competitive pay and career progression models that attract and keep top performers.

operational efficiency and outsourcing

the report tracks the rapid expansion of outsourcing and offshoring, now adopted by 71% of firms above $10m. these practices are essential in combating capacity constraints and labor shortages, offering firms a tested pathway to improve efficiency and maintain client service quality.

service diversification

breakdowns of tax, assurance, and advisory revenue streams reveal opportunities to rebalance service lines. firms pursuing financial advisory and cas offerings show above-average profitability, making diversification a clear strategic lever for growth.

future-proofing the business

forward-looking indicators highlight rising ai adoption (53% of large firms actively using generative ai), expanding cybersecurity investments, and new governance models influenced by private equity capital. these shifts signal where firms must innovate to remain competitive and ensure sustainable growth through 2030.

the 2025 rosenberg survey: top ten benchmarks

these benchmarks represent the most critical measures shaping firm performance in 2024 and beyond.

1. income per equity partner (ipp):

   • firms over $20m in net fees reported an average ipp of $742,000.

   • smaller firms (<$2m) averaged $314,000.

   • median ipp across all firms increased 6.4% year-over-year, reflecting pricing power and operational discipline.

2. fee growth (including and excluding mergers):

   • firms above $20m achieved 11.8% growth, including mergers; growth was 10.7% excluding mergers.

   • firms under $2m posted 3.5% growth.

3. projected fee growth for 2025:

   • firms expect 7.5%–8.8% growth in net fees, slightly lower than the prior year’s projection but still robust.

4. professional staff-to-partner ratio:

   • leverage remains a major profitability driver.

   • larger firms operate at 9.5 staff per partner, compared with 3.9 staff per partner at smaller firms.

5. billing rates by market size and role:

   • equity partner billing rates ranged from $338 to $462/hour, depending on firm size and market.

   • the highest rates were reported in large metro markets with populations above 2m.

6. professional staff turnover:

   • turnover eased slightly to 11.7%, down from 12.9% last year.

   • voluntary exits continue to dominate, leaving firms under pressure to improve retention.

7. realization rates:

   • larger firms (> $20m) reported a realization of 86.2%.

   • smaller firms (< $2m) achieved 92.5%, reflecting stronger billing efficiency in closely held practices.

8. utilization rates:

   • professional staff utilization averaged 54.1%–57.4% across firm sizes.

   • gains were modest, with improvements linked to offshore and outsourcing leverage.

9. billing rates correlation to profitability:

   • firms in the top quartile for billing rates reported ipp of $821,000.

   • firms in the bottom quartile reported $452,000, underscoring the strong connection between pricing discipline and partner profitability.

10. outsourcing and offshoring trends:

    • 71% of firms over $10 million use offshore staff or outsourcing, up from 66% last year.

    • adoption is expanding among mid-sized firms ($5–10m), where 42% now report active offshoring.

2026 outlook: the top six trends

1. staffing and talent management issues:

   • recruiting and retaining seniors and managers remains the #1 challenge.

   • undergraduate accounting enrollments fell another 2.6%, further straining the pipeline.

2. enhanced use of outsourcing and offshoring:

   • offshoring is moving from optional to essential, especially in tax and audit.

   • technology integration is making it easier to onboard and supervise offshore staff.

3. strategic growth and mergers & acquisitions (m&a):

   • private equity capital accelerates m&a activity, especially among the top 100 firms.

   • valuation multiples are higher for pe-backed deals, pressuring independents to reconsider growth strategies.

4. increased investment in technology and innovation:

   • 53% of firms over $20m now report using generative ai in production settings.

   • ai applications are expanding from tax research into workflow automation, audit testing, and advisory services.

5. rising importance of strategic planning:

   • firms with documented strategic and marketing plans report materially higher ipp.

   • alignment of leadership, technology, and staffing under formal planning processes is emerging as a leading success factor.

6. evolving compensation models and partner buyouts:

   • partner buy-ins are trending lower, making equity more accessible.

   • compensation models shift to reward origination and client relationship management, reflecting pe-influenced governance.