There's no sugar coating it. Agencies and corporations are laying off staff left and right, and PR budgets that have grown by upwards of 30 percent in recent years will likely
see a decline of about 10 percent in 2002, according to the Council of PR Firms.
"The bottom line reality is that 1.7 million white collar workers have been laid off since January," says Smooch Reynolds, president and CEO of The Repovich-Reynolds Group, an
executive recruiting firm focused on public relations placements. "It is pretty dismal."
The good news, however: this year's PR NEWS salary survey, conducted by the Repovich-Reynolds Group, shows salaries are holding relatively strong compared to last year's
findings (last year's survey was conducted by Marshall Consultants). A corporate SVP of communications earns, on average, $200,000 to $400,000 at a large company, or $100,000 to
$175,000 at a smaller organization. Last year, a communicator in the same position could expect about $252,000 at a large firm vs. $139,000 at a smaller corporation. More junior
titles, however, have seen drops in salary: a consumer products specialist at a large corporation this year should expect to pull in between $35,000 and $60,000 vs. more than
$69,000 last year.
All the bad news means PR pros - both the lucky ones who are gainfully employed and those who are currently job-hunting - will have to get creative in building their career
paths over the coming months.
"People need to be far more open-minded about their next step," Reynolds says. "People need to be open to lateral moves and even steps back. And it's not always about
money."
Instead of focusing on salary and title, job candidates should focus on expanding their experience and knowledge of all areas and functions of PR.
Barie Carmichael, EVP of corporate communications for Visa USA and PR NEWS Advisory Board member, for example, recently left a long career with Dow Corning to take on her new
role at Visa because she wanted to try her hand at consumer rather than business-to-business PR. "I have the overriding philosophy that if you change, it ought to be based on what
you're going to as opposed to what you want to leave," Carmichael says.
Reynolds recommends not only beefing up your work experience, but also expanding your educational background. She sees many managers who are disappointed that "PR practitioners
in general are not well-versed in business. When you're in a recession and have to compete aggressively for employment, you need to exceed expectations. I encourage PR pros to get
an MBA in marketing or finance and to take business courses."
She also encourages job hunters to spend two thirds of their time on the search process and one third on freelance and project work, allowing candidates to increase their level
of experience - and keep their confidence up. "The toughest factor in an economy like this is the lack of validation of who you are as a professional," Reynolds says. "The
rejection rate in terms of the job search is going to be high. The accolades of freelance clients will help feed your ego."
(Contacts: Council of PR Firms: Jack Bergen, [email protected];
Repovich-Reynolds Group: Smooch Reynolds, [email protected]; Visa USA: Barie Carmichael,
[email protected])
Industry Hotspots
According to Reynolds, if you're looking for stability, head for the healthcare industry. Other promising bets are defense and security, and she believes technology will even
out in the near future as well.
Industries to avoid: "If you're with an airline right now, I'd think [seriously] about accepting every phone call from a recruiter or a prospective employer."
People should focus on branding their careers - always exceeding expectations, working across functions, and not being afraid of jumping into an area they know nothing about.
It's going to add to their arsenal of career knowledge, and
Airline industry being completely reengineered and professional services industry being reconfigured, healthcare industry somewhat stable, defense and security industry - and
ultimately technology - will ultimately come out well "We need another six to nine months for the pendulum to balance."