In Vic.ai’s recent survey of Client Accounting Services and Outsourced Accounting firms, we asked participants about their team size, the average number of years on the team, along with the tenure and experience of team members.
The following is an excerpt from our report, The State of Client Accounting Services and Outsourced Accounting.
About Your Team
In this section, you’ll learn how many employees are on each client accounting / outsourced accounting team, how many years each employee on the team has been at each firm, how many total years of relevant experience each person on the team has, and whether people on the team provide other services.
You’ll also discover the number of people on each team with a bachelor’s or master’s degree in accounting, the number of CPAs on the team, the average starting salary for entry-level roles, the number of open jobs, the ease of filling both entry-level and more advanced jobs on the team, and the number of physical locations where team members work.
How Many Employees Work on Your CAS/OA Team?
Earlier, within the question on “How many employees work at your firm?” (across all team(s)/location(s)), the survey revealed that about 82% of participants come from firms with 200 or fewer employees. Nearly half of survey participants (46%) come from firms with 1-10 employees.
Besides the firm as a whole, how many people are on a typical CAS/OA team?
The median number of employees on a CAS/OA team is 5. The average number of employees on a CAS/OA team is 23.
A little over half of the participants (54%) are on small CAS/OA teams with 5 or fewer employees. 26% of survey participants are part of CAS/OA teams with 6-20 employees. And 20% of participants are part of larger teams with more than 20 employees.
What are the Average Years of Tenure for Your CAS/OA Team Members (at Your Firm)?
In addition to the size of the CAS/OA team, participants indicated the average years of tenure for CAS/OA team members at their firm.
The goal was to uncover whether CAS/OA team members tend to work together for a long time or whether CAS/OA teams as a whole are more transient.
The most commonly indicated years of tenure -- 42% of the responses -- is 1-4 years at the firm.
5-9 years at the firm ranks a close second with 34% of the participant responses.
Just as interesting, 20% of CAS/OA teams have worked together for ten years or more.
And very few CAS/OA teams are newly formed: just 4% of participants are on teams where the average tenure is less than one year at the firm.
How Many Years of Experience Does the Average Person on Your CAS/OA Team Have (at Your Firm Plus Any Prior Firms)?
Now that the CAS/OA team size and average years of tenure on the team have been established, the next logical question asked how many years of relevant experience the average person on the team has -- including time both at the firm and any prior accounting firms.
Participants most often work on CAS/OA teams where the average person has 10-14 years of relevant experience (34% of participants). This is a fascinating disconnect compared to the most commonly indicated years of tenure, in the previous question, at 1-4 years at the firm.
This finding infers that most CAS/OA teams are built with accounting professionals who had significant experience elsewhere, at another firm, before joining this particular firm’s CAS/OA team.
So when looking at a LinkedIn profile that matches this data, the participant would show anywhere from 1-4 years in their current role, plus anywhere from 6-13 years in relevant jobs in previous positions at one or more prior firms.
A distant second (22% of participants) group of participants are part of teams where the average person has 5-9 years of experience.
Another way of looking at it: 38% are in the first decade of their accounting careers (1-9 years of relevant experience).
48% are in the second decade of their accounting careers (10-19 years of relevant experience).
And 14% of participants are part of CAS/OA teams with veteran accounting professionals: where the average person on the team has 20 or more years of relevant experience.
In this article, you’ve learned how many employees are on each client accounting / outsourced accounting team, how many years each employee on the team has been at each firm, and how many total years of relevant experience each person on the team has.
How does this survey data compare with your client account services or outsourced accounting firm? Tell us more in the section for comments below.
To learn the answers to all 30 questions asked in the survey, download your free copy of The State of Client Accounting Services and Outsourced Accounting.