BV Insights: A Look at BVR's 2023 Benchmarking Survey
The 2023 BVR Benchmarking Survey was produced to collect the most comprehensive data on operations, financial metrics, compensation, staffing, marketing, billing, tools and resources used, and more. With the survey closed and the full results pending, we thought we'd give you a sneak peek of what to expect from the full survey.
Based on a sample of 192 respondents, 47.40% selected more than 50 litigation support engagements in their respective firms.
According to survey responses, the top three areas of practice growth were:
- Income/gift/estate tax: 26.23%;
- Transaction/M&A: 22.95%; and
- Divorce/matrimonial: 18.85%.
Based on your responses, 66.13% of BV firms don't have billable hours targets for their staff.
This is just a small selection of questions from the survey. There are 73 more waiting for you! Stay tuned for the full survey and more in next month's Business Valuation Update!