Dick Clark and his cohorts may be saving their champagne for the new millennium, but in PR land, the party is already raging.
Salaries for communications executives are skyrocketing by margins as hefty as 10 percent in areas such as investor relations, media relations, high-tech and healthcare. These are among the key findings in a study conducted by Marshall Consultants, Inc. for PR NEWS.
The bull market becomes even more formidable when you weigh the total compensation packages now being offered to top-caliber candidates. Perks such as stock options, signing bonuses and relocation incentives are becoming more common-particularly in tech circles and financial disciplines, where market speculation is as much a job requirement as it is a sport.
Despite the undisputed parallels to the burgeoning economy, there are other factors at play in the salary equation. As an undercurrent, PR is gaining ground in the eyes of CEOs as a critical business strategy. This newfound respect is being manifested in the creation of higher-level positions with heavier responsibilities.
While salaries in consumer products and industrial/manufacturing saw modest gains for the second year in a row, the outlook remains overwhelmingly positive across the board for both agencies and corporate communicators.
Unemployment continues to hover at its lowest point since 1970, and employers are upping the ante in their ongoing quest to woo, and keep, the best talent in the business.