Just as an aside, service companies which advice businesses are generally, have the salary bill, the highest expense and mostly above 50% and commonly 60%+.
With other inputs like PI, financial planning software, paraplanning and premises (and in some cases dealer fees) you can see why the salaries as a %, are such a large input. Some financial statements for some reason show the principals salaries below the line which is not justifiable in my mind unless they weren't doing any work. This may distort the real % and in many cases the profit view. Realistically all salaries need to be included but principal's salaries can be normalised in the case of selling the business to substitute with the cost of employing someone to do the principal's work.