Managing PR in larger cities and burgeoning markets has routinely come with the promise of a higher salary, but now a new study shows that it's not just a metropolis like New York or a niche like healthcare that determines better salaries. The size of the firm in which you work also weighs in heavily.
An executive VP at a PR agency with fees under $1 million holds down a $77,000-plus base salary, but his counterpart at a firm with more than $5 million in yearly fees is making close to $130,000.
Albeit not as wide, that gap also exists on lower levels, with a senior account executive at an under-$1-million company making $38,500 and an SAE at a $5-million-plus firm bringing in $43,802.
Those figures were gleaned from a first-time analysis of agency salaries done by CPA firm Gould & Co., New York. It is based on responses from about 200 agencies in the U.S. and underscores how profitable some markets - as well as how coveted some skills - can be.
These findings are consistent with PR NEWS' annual salary survey (6/22/98) which points to higher compensation in healthcare, technology and financial communications in recent years.
Overall, Larry Marhsall, CEO of executive recruiting firm Marshall Consultants, which provides PR NEWS with the data, expects that compensation in 1998 kept pace with or nearly match last year's 7 percent spike over the prior year.
But what executive recruiters are also seeing this year a dearth of highly skilled mid-level people, which might explain why specialization and location can weigh in as key variables.
The highest salary for an executive VP is in the government arena ($123,744), but healthcare and high-tech nip at that discipline's heel with the typical EVP in these areas commanding $114,813 and $119,584, respectively, according to Gould's survey. The lowest salary is earned by PR professionals in the travel industry, where EVPs make an average of $74,909.
One surprise, according to CEO Rick Gould, was the finding that senior PR executives in California ($119,813) pull down better salaries than their peers in the Big Apple (117,011).
Execs in Florida can expect to make the least, about $71,000. (Gould & Co., 212/239-0804; Larry Marshall, 212/628-8400)
| Salaries According to Specialty | |||||||
| Specialty | # of Firms | Exec VP | VP | AS | SR AE | AE | JR AE |
| Acct Coord | CFO | Off Mgr | SECR | Adm Asst | Recept | Intern |
|
| * Consumer | 44 | $108,122 | $72,126 | $53,218 | $42,364 | $36,475 | $27,418 |
| $23,625 | $80,864 | $41,863 | $28,990 | $27,730 | $23,666 | $8/hr |
|
| * Fashion/ Beauty | 9 | 106,000 | 75,429 | 52,357 | 46,750 | 35,111 | 26,556 |
| 22,500 | 90,750 | 50,667* | 27,100 | 27,000 | 23,667 | 7 |
|
| * Financial | 37 | 101,133 | 75,893 | 58,593 | 38,000 | 38,313 | 28,823 |
| 24,000 | 83,565 | 41,893 | 27,474 | 28,650 | 24,225 | 9 |
|
| * Government | 14 | 123,744* | 78,056 | 59,150 | 40,000 | 39,292 | 28,250 |
| 24,000 | 68,100 | 46,250 | 31,875 | 28,038 | 22,385 | 9 |
|
| * Healthcare | 17 | 114,813 | 85,400 | 62,643* | 55,500 | 40,647* | 27,357 |
| --- | 86,444 | 43,400 | 30,000 | 27,400 | 25,833* | 9 |
|
| * High Tech | 23 | 119,584 | 87,493* | 61,413 | 55,583* | 39,820 | 30,117* |
| 25,167* | 98,093* | 40,814 | 34,900* | 29,934* | 25,143 | 9 |
|
| * Media Relations | 6 | 95,500 | 72,000 | 45,600 | --- | 37,000 | 26,667 |
| --- | 65,000 | 43,000 | 25,500 | 27,333 | 23,750 | 8 |
|
| * Sports/ Entertainment | 4 | 100,000 | 70,000 | 45,000 | --- | 32,667 | 24,000 |
| --- | --- | --- | --- | --- | --- | 8 |
|
| * Strategic | 17 | 105,000 | 77,813 | 54,179 | 37,500 | 35,243 | 28,330 |
| 22,000 | 86,261 | 36,000 | 27,100 | 29,778 | 22,273 | 8 |
|
| * Travel | 21 | 74,909 | 62,364 | 47,588 | 40,000 | 35,619 | 25,556 |
| 24,500 | 66,667 | 37,000 | 27,300 | 25,071 | 22,083 | 8 |
|
| Total # of Firms - U.S. | 192 | ||||||
| Foreign (In U.S. Dollars) | 20 | 92,000 | 65,000 | 54,000 | --- | 35,000 | 27,000 |
| --- | 55,000 | 41,000 | 26,000 | 25,000 | 21,000 | --- |
|
|
Total Responses: 212 * represent highest average by position |
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