# We want to understand how many employees would typically work at a company with revenue between \$20MM-\$100MM annually - is there any research // articles to infer that? Can we look at medium to large size public companies to see their revenue and ...

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## We want to understand how many employees would typically work at a company with revenue between \$20MM-\$100MM annually - is there any research // articles to infer that? Can we look at medium to large size public companies to see their revenue and then how many employees they have to get a sense?

After extensive research, we found that there are no existing studies, articles, or observed recurring patterns that directly determine the number of employees for companies with revenues between \$20MM-\$100MM. Based on the most recent statistics of businesses that fit this revenue bracket, such companies have an average of 352 employees and are mostly medium-sized enterprises.

### METHODOLOGY AND ASSUMPTIONS

The initial phases of our research involved identifying public companies with revenues that fit your given criteria. From there, we consulted company databases such as LinkedIn, Hoover, and Owler for information about their current number of employees. We were unable to include more than two large enterprises in our findings due to the fact that majority of them have revenues far above \$100,000,000.

### NO RELATION OR PATTERN

After studying the financials and corporate details of 15 companies within different industries, we did not find of any recurring pattern or evidence suggesting that there is a direct correlation between revenue and the number of employees.

### COMPANIES

REVENUE
The 15 companies we included in our research have revenues ranging from \$15,000,000 to \$91,300,000. On average, revenues of all companies in our research amounts to \$42,593,333.

EMPLOYEES
The 15 companies we included in our research had an employee count ranging from 24 to 3,521. The average number of employees of all companies combined amounts to 352.

According to the Organization for Economic Cooperation and Development, small-sized enterprises are defined as companies with 10 to 49 employees, medium-sized enterprises are defined as companies with 50 to 249 employees, and large enterprises are defined as companies with 250 or more employees. Among the 15 companies included in our findings, 12 of them are medium-sized enterprises, two are large enterprises, and only one was found to be a small-sized enterprise with a total of just 24 employees. The average number of employees between the 2 large companies included amounts to 2010.5. [(3,521+500)/2=2010.5] The average number of employees of all medium-sized enterprises included amounts to 103.75. [(97+85+108+58+66+140+52+170+80+52+248+89)/12=103.75]

We have compiled and summarized all the data from our findings, along with all the calculations involved, within an attached spreadsheet.

### CONCLUSION

If all sizes of enterprises are covered, the average number of employees for companies with revenues between \$20MM to \$100MM amount to 352. Majority of companies that fall within this bracket were found to be medium-sized enterprises. If only medium-sized enterprises are included in our calculations, the average number of employees drops to 103.75.
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