2022 Best Practices Study

Specialization

% of Agencies with Specialty Revenue

81.8%

80.0%

76.9%

74.5%

73.8%

68.3%

67.7%

67.4%

67.4%

65.9%

63.9%

63.9%

60.5%

53.3%

53.3%

47.4%

40.7%

39.1%

< $1.25M

$1.25-$2.5M

$2.5-$5M

$5-$10M

$10-$25M

> $25M

2020 BPS 2021 BPS 2022 BPS

AGENCIES WITH REVENUES OF:

<$1.25M $1.25-$2.5M $2.5-$5M $5-$10M $10-$25M >$25M

% of Agencies with Specialty Rev Average Total Specialty Revenue 1

67.7%

53.3%

63.9%

74.5%

68.3%

80.0%

$211,199

$510,136

$1,246,154

$3,207,459

$6,716,701 $35,565,946

Average % Net Revenue 1

27.3%

26.0%

33.9%

45.0%

42.6%

41.2%

1 Only for those firms who reported speciality revenues

Specialty Revenues: % of Comparison Group with this Specialty: Agriculture

6.5%

16.7% 20.0%

24.6% 44.3% 14.8% 19.7% 24.6% 14.8% 18.0% 14.8% 14.8% 21.3% 16.4% 13.1% 18.0% 21.3%

23.6% 54.5% 18.2% 34.5% 36.4% 27.3% 36.4% 20.0% 29.1% 32.7% 34.5% 14.5% 38.2% 50.9%

20.0% 48.3% 11.7% 25.0% 25.0% 23.3% 28.3% 15.0% 23.3% 36.7% 21.7% 15.0% 33.3% 33.3%

24.4% 64.4% 22.2% 35.6% 46.7% 26.7% 46.7% 13.3% 22.2% 44.4% 33.3% 13.3% 42.2% 51.1% 2.5% 3.4% 5.6% 1.6% 9.9% 4.5% 9.2% 1.9% 2.8% 5.2% 9.2% 10.8% 1.9% 12.1%

Construction

51.6%

Energy

6.5% 9.7%

0.0%

Government/Municipality

16.7%

Healthcare Hospitality

19.4% 25.8% 12.9% 29.0% 19.4% 25.8%

0.0% 6.7% 6.7%

Manufacturing

Management / D&O

10.0% 10.0% 10.0% 13.3%

Non-profits Real Estate

Schools/Education

6.5%

Transportation

25.8% 19.4%

6.7% 3.3%

Technology

Other

9.7%

20.0%

For firms that specialize in this, what % of NR is from this specialty? Agriculture

13.1% 15.2% 10.1%

18.3% 8.2% 0.0% 7.4% 0.0% 4.3% 5.6% 2.0% 4.8% 17.4% 18.3%

7.6%

1.5%

2.5%

Construction

17.0% 10.7%

16.8%

18.4%

Energy

1.5% 6.5% 9.7% 3.5% 4.2% 2.0% 8.0% 5.8% 1.5% 1.4% 5.3%

3.5% 6.8% 3.9% 4.1% 6.8% 2.2% 4.3% 9.3% 2.5% 1.8% 8.1%

Government/Municipality

6.3% 1.8% 6.2% 1.6% 1.7% 1.5% 5.0%

4.8% 3.9% 2.2% 5.0% 1.5% 3.7% 8.6% 7.6% 4.0% 4.5%

Healthcare Hospitality

Manufacturing

Management / D&O

Non-profits Real Estate

Schools/Education

13.1%

Transportation

4.5% 3.1%

1.6%

Technology

14.7% 14.3%

Other

24.0%

14.2%

15.0%

16.1%

Cross Category Comparison

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