ABSTRACT
This chapter looks at how office finances affect fees and charge out rates. A range of benchmarking information is available to practitioners, including published information in the Architects’ Journal and the RIBA data available to RIBA Chartered Practices. The RIBA benchmarking survey considers revenue; however, the survey does state that ‘profits will typically include a substantial element of the pay received by the partners, directors or sole principals’. The RIBA benchmarking survey data for average hourly rates used to calculate fees records a wide range of charge out rates, with partners and directors. There are a number of surveys available that cover percentage fees charged for both new build and refurbishment projects across a variety of procurement routes. Benchmarking data is worthwhile and a reminder that there is no one-size-fits-all solution to practice finances. The most reliable method involves using one's own office’s financial data.
