52.2 is currently the average age of a public accounting firm partner, down from 52.6 last year, as firms are promoting younger professionals to replace retiring partners, according to new data released by INSIDE Public Accounting.
In an April 24 blog post, the publication wrote:
In nearly 8% of firms, the average age of the partner group is 60 and above, and 26% have an average partner age of 55 or older. 28% of firms have an average partner age under 50, an increase from 23% last year.
INSIDE Public Accounting also noted that the average age of managing partners across all firms is 55.4 years, down from 56.1 last year.
A little more than 30% of all firms have a managing partner who is age 60 or older, while 12% have a managing partner age 65 or older and 7% age 67 or older.
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