Follow the Money

Why are there so many more agency jobs than corporate spots on the market? And why are PR agencies continuing to churn out new practice areas faster than rabbits in spring? Budgeting trends offer a
clue. The latest research by Thomas L. Harris & Co. indicates that while budgets for external PR programs grew at a slower pace this year over last year, their overall girth remains heftier than
internal PR budgets. (The average external budget is now $3.2 million vs. an internal budget average of $2.7 million.) Media training, proactive media relations, graphic design and research are among the
most commonly outsourced functions. Total PR spending is up 20% over last year, with the average client budget (for both inhouse and outsourced initiatives) hovering around $5.8 million.