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O P I N I O N
Principal like it’s 1999
A look at what it means to be a principal in the AEC industry and how this has and hasn’t changed over the past two decades.
A lmost 30 years ago, Zweig Group launched its first Principals, Partners & Owners Survey . In May, Zweig Group released the 2019 Principals, Partners, & Owners Sur- vey of AEC Firms . While some things are remarkably similar – the average principal in the AEC industry is still a registered technical professional with a bachelor’s degree, Caucasian, male, and over the age of 40 – quite a few things have changed.
Christina Zweig Niehues
When Zweig Group first started this survey in 1991, just 45 percent of AEC firm principals had a computer in their workspace. This is a question we no longer have to ask! Technology, staffing, and workplace perks are just a few of the areas we’ve seen major evolution over the past three decades. Comparing Zweig Group’s just released 2019 sur- vey to the 1999 version, some remarkable similari- ties and surprising differences stand out. VIRTUALLY UNCHANGED. It’s pretty amazing that the role of principal is reported to be highly reward- ing. In 1999, 91 percent of principals reported that their investment in their firm was worth
more than they paid for it. In 2019, 92 percent felt this way. “Comparing Zweig Group’s just released 2019 survey to the 1999 version, some remarkable similarities and surprising differences stand out.” Coupled with the perceived value of their invest- ment, principals have not strayed away from personal commitments to their firms. In 1999, 58 percent signed a personal guarantee for some or
See CHRISTINA ZWEIG NIEHUES, page 4
THE ZWEIG LETTER July 29, 2019, ISSUE 1306
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