{"id":133746,"date":"2024-10-23t11:57:57","date_gmt":"2024-10-23t15:57:57","guid":{"rendered":"\/\/www.g005e.com\/?p=133746"},"modified":"2024-10-27t08:18:08","modified_gmt":"2024-10-27t12:18:08","slug":"the-future-of-fees","status":"publish","type":"post","link":"\/\/www.g005e.com\/2024\/10\/23\/the-future-of-fees\/","title":{"rendered":"the future of fees"},"content":{"rendered":"<p><strong><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-133919\" src=\"\/\/www.g005e.com\/wp-content\/uploads\/2024\/10\/100dollarbills_adobestock_501763340.jpeg\" alt=\"\" width=\"1600\" height=\"900\" srcset=\"\/\/www.g005e.com\/wp-content\/uploads\/2024\/10\/100dollarbills_adobestock_501763340.jpeg 1600w, \/\/www.g005e.com\/wp-content\/uploads\/2024\/10\/100dollarbills_adobestock_501763340-424x239.jpeg 424w, \/\/www.g005e.com\/wp-content\/uploads\/2024\/10\/100dollarbills_adobestock_501763340-849x478.jpeg 849w, \/\/www.g005e.com\/wp-content\/uploads\/2024\/10\/100dollarbills_adobestock_501763340-768x432.jpeg 768w, \/\/www.g005e.com\/wp-content\/uploads\/2024\/10\/100dollarbills_adobestock_501763340-1536x864.jpeg 1536w, \/\/www.g005e.com\/wp-content\/uploads\/2024\/10\/100dollarbills_adobestock_501763340-300x169.jpeg 300w, \/\/www.g005e.com\/wp-content\/uploads\/2024\/10\/100dollarbills_adobestock_501763340-600x338.jpeg 600w\" sizes=\"(max-width: 1600px) 100vw, 1600px\" \/><\/strong><\/p>\n<p><strong>are you raising yours to close a salary gap?<\/strong><\/p>\n<p><em>by 卡塔尔世界杯常规比赛时间 research<\/em><\/p>\n<p>when <a href=\"\/\/www.g005e.com\/shop\/map-survey\/\">the 2024 rosenberg national survey of cpa firm statistics<\/a> asked prominent consultants what\u2019s coming down the pike in the accounting profession, an upheaval in fee structure came up a lot.<\/p>\n<h4 style=\"padding-left: 40px;\"><b>more: <\/b><a href=\"\/\/www.g005e.com\/2024\/10\/20\/when-staffing-falls-short-clients-get-culled\/\">when staffing falls short, clients get culled<\/a> | <a href=\"\/\/www.g005e.com\/2024\/10\/17\/how-accounting-firms-are-dealing-with-retirement\/\">how accounting firms are dealing with retirement<\/a> | <a href=\"\/\/www.g005e.com\/2024\/10\/15\/next-five-years-are-critical-for-accounting-firms\/\">next five years are critical for accounting firms<\/a> | <a href=\"\/\/www.g005e.com\/2024\/10\/13\/turnovers-down-but-why\/\">staffing turnover\u2019s down, but why?<\/a> | <a href=\"\/\/www.g005e.com\/2024\/10\/09\/whats-your-firm-worth-private-equity-wants-to-know\/\">what\u2019s your firm worth? private equity wants to know<\/a> | <a href=\"\/\/www.g005e.com\/2024\/10\/06\/the-new-pipeline-outsourcing-and-offshoring\/\">the new pipeline: outsourcing and offshoring<\/a> | <a href=\"\/\/www.g005e.com\/2024\/10\/02\/is-this-the-last-year-of-accountings-golden-age\/\">is this the last year of accounting\u2019s golden age?<\/a><br \/>\n<strong><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-49700 size-full\" src=\"https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2016\/08\/yellow_key_clip_art-e1375897299811-36p-hi-1-e1603911598474.jpg\" alt=\"goprocpa.com\" width=\"39\" height=\"16\" \/><span style=\"color: #b79c00;\">exclusively for pro members. <\/span><\/strong><span style=\"color: #b79c00;\"><a style=\"color: #b79c00;\" href=\"\/\/www.g005e.com\/wp-login.php?redirect_to=\/\/www.g005e.com\/2024\/10\/23\/the-future-of-fees\/\">log in here<\/a> or <a class=\"external\" style=\"color: #b79c00;\" href=\"http:\/\/goprocpa.com\/\" target=\"_blank\" rel=\"noopener\">2022世界杯足球排名 today<\/a>.<\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>first, the good news: net fees are growing rather nicely.<\/p>\n<ul>\n<li>net fees at firms billing more than $2 million jumped an average of 10.7 percent.<\/li>\n<li>growth at firms billing over $20 million leaped by 12.5 percent.<\/li>\n<li>even small firms, those with $2-5 million in revenues, grew by 9.1 percent.<\/li>\n<\/ul>\n<p><!--more--><br \/>\n<strong>don\u2019t get excited<\/strong><\/p>\n<p>but don\u2019t get too excited. one of the rosenberg survey consultants, michelle golden river at fore llc, says revenues aren\u2019t increasing fast enough to bridge the salary gap \u2013 the difference between what an entry-level accountant earns and what he or she could earn in a related field, such as finance or information technology. that gap explains some of the reason why it\u2019s so hard to hire and retain talent.<\/p>\n<p>\u201cto offer commensurate starting pay (and raise legacy salaries, accordingly), we must change our revenue model,\u201d river writes. \u201cour current 5-10 percent annual increases cannot get us there. we fell behind more than a decade ago and, at this pace, we\u2019ll never catch up.\u201d<\/p>\n<p>to increase revenue, river says, practices need to position their prices on \u201csomething other than time, especially as technology continues to facilitate dramatic time reduction.\u201d<\/p>\n<p>she\u2019s right about the impact of technology. as automation and artificial intelligence whittle down the time it takes to perform a given task, any firm basing its fees on time is whittling down its revenue, not to mention its viability as a going concern.<\/p>\n<p>one big mistake firms make is to tell clients that prices need to go up because costs have gone up.<\/p>\n<p>that, she says, isn\u2019t the appropriate approach. she calls it defensive and not of concern to clients. clients don\u2019t care about their cpa\u2019s costs; they care about their own bang for the buck \u2013 the value they receive.<\/p>\n<p>that value isn\u2019t time.<\/p>\n<p>rivers says, \u201cfirms that ignore the hourly billing model\u2019s weaknesses will continue to leave a lot of money on the table that they could otherwise use to solve a great many problems.\u201d<\/p>\n<p><strong>a saving grace or a coup de gr\u00e2ce?<\/strong><\/p>\n<p>jennifer wilson, at convergencecoaching, is thinking along the same lines.<\/p>\n<p>\u201cai will blow people away with its application to traditional services,\u201d she writes, \u201creducing time and cost of service delivery, opening up all sorts of opportunities and screwing up firms that charge based on time (don\u2019t do it anymore!) and freeing up firms that get it.\u201d<\/p>\n<p>in other words, ai can be an incredibly powerful tool for the firm that adjusts its pricing model appropriately but a coup de gr\u00e2ce for the firm that clings to the obsolete time-based model.<\/p>\n<p>the combination of ai efficiency and a proper pricing model offers an opportunity to raise fees and revenue, generating the funding needed to attract and retain professionals. if ever there was a time to ditch time-based pricing, it\u2019s now.<\/p>\n<div class='shareinpost'><ul class=\"socialwrap row\"><li 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src=\"\/\/www.g005e.com\/wp-content\/plugins\/share-and-follow\/images\/blank.gif\" height=\"24\"  width=\"24\" style=\"background: transparent url(\/\/www.g005e.com\/wp-content\/plugins\/share-and-follow\/default\/24\/sprite-feb-24.png) no-repeat;padding:0;margin:0;height:24px;width:24px;background-position:-275px 0px\" class=\"image-24\"  alt=\"email\" \/> <span class=\"head\">email this<\/span><\/a><\/li><\/ul><div class=\"clean\"><\/div> <\/div>","protected":false},"excerpt":{"rendered":"<p><strong>are you raising yours to close a salary gap?<\/strong><br \/>\n<a href=\"\/\/www.g005e.com\/2024\/10\/23\/the-future-of-fees\/\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-133997\" src=\"\/\/www.g005e.com\/wp-content\/uploads\/2024\/10\/250_100dollarbills_adobestock_501763340.jpeg\" alt=\"\" width=\"250\" height=\"125\" \/><\/a><br \/>\n<em>by 卡塔尔世界杯常规比赛时间 research<\/em><\/p>\n","protected":false},"author":17,"featured_media":133919,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[5,2274,3002,4270],"tags":[],"class_list":["post-133746","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-outlook","category-pricing","category-special","category-trending"],"acf":[],"yoast_head":"<!-- this site is optimized with the yoast seo plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>the future of 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