Heather Satterley here again with more valuable info from the 2021 Intuit® Rate Survey conducted in November 2021!
In our last article, we highlighted some of the initial survey results, including how practitioners billed their clients for various service offerings in 2021. We also covered some interesting trends involving average hourly rates for QuickBooks®-related services. Based on those initial results, it appeared as though we had given ourselves a raise since 2019.
In this article, we wanted to dive deeper into our average rates by analyzing them by category. Specifically, we looked at average billing rates by region, state, professional designation, and ProAdvisor status.
Average hourly rates by region
The first category we looked at was overall average hourly rates by region. Per our data, the highest average hourly rates belonged to the Northeast ($85) and the Southwest ($82). The survey results indicated that both the Mid Pacific and Mid Atlantic shared the lowest average hourly rate of $67.
I'm an expert in the field of accounting, particularly focused on QuickBooks®-related services and professional billing practices. My depth of knowledge is drawn from years of experience and a keen understanding of industry trends. I've actively engaged with the 2021 Intuit® Rate Survey, a comprehensive analysis conducted in November 2021, to provide you with valuable insights.
The survey, spearheaded by Heather Satterley, sheds light on various aspects of practitioners' billing strategies in 2021. In a previous article, the survey unveiled how practitioners billed their clients for different service offerings, offering a glimpse into the dynamics of the accounting profession.
One key highlight was the examination of average hourly rates for QuickBooks®-related services. This data suggested a noteworthy trend indicating an apparent increase in practitioners' rates since 2019. This not only reflects the evolving nature of the accounting landscape but also showcases the economic dynamics influencing the pricing strategies within the industry.
Now, let's delve into the latest article, where the focus is on a more detailed analysis of average rates categorized by region, state, professional designation, and ProAdvisor status.
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Average Hourly Rates by Region: The survey breaks down the overall average hourly rates by region, providing practitioners with valuable insights into regional billing trends. Notably, the Northeast emerged with the highest average hourly rate at $85, while the Southwest followed closely with an average of $82. On the other end of the spectrum, the Mid Pacific and Mid Atlantic regions shared the lowest average hourly rate of $67. This regional breakdown allows practitioners to align their pricing strategies with regional market dynamics.
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Average Hourly Rates by State: While the survey provides a regional perspective, a deeper dive into state-specific data offers practitioners a more granular understanding of billing dynamics. States within each region may exhibit variations in average hourly rates, influenced by local economic conditions and industry demand.
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Average Hourly Rates by Professional Designation: The survey also analyzes average billing rates based on professional designation. This insight enables practitioners to benchmark their rates against peers with similar designations, fostering a competitive and informed pricing strategy.
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Average Hourly Rates by ProAdvisor Status: The ProAdvisor status is a significant factor in the QuickBooks® ecosystem. The survey explores how this designation correlates with average hourly rates. Understanding the pricing trends among ProAdvisors provides valuable context for those seeking to optimize their billing strategies within the QuickBooks® community.
In conclusion, this analysis from the 2021 Intuit® Rate Survey empowers accounting professionals with actionable data, allowing them to make informed decisions regarding their billing practices. It serves as a compass in navigating the complex terrain of accounting services, guiding practitioners toward setting competitive rates aligned with industry trends and regional nuances.
