Public relations and corporate communications are no longer the red-headed stepchildren of the business world: The professionals within these fields are being tapped for their
strategic expertise and applied to in almost every corporate initiative, from new technology implementation to corporate social responsibility reform. No longer relegated to the
chorus line, communications executives are playing leading roles on the corporate stage, and they are taking control of their compensation packages, job searches and salary
negotiations, too.
The 2007 edition of the Official Public Relations Salary & Bonus Report (based on 2006 numbers), published by Spring Associates, has just been released, and the results point
to a few key trends the industry is currently experiencing:
- Every PR person who wanted a job has found one, meaning that job candidates are back in the driver's seat when it comes to salary negotiation;
- Because of the "full employment" status noted by the industry, corporate departments and agencies must now compete with one another for the top candidates in 2007;
- However, in terms of 2006 salaries, increases were relatively flat, most likely to compensate for the huge jumps seen in 2005; overall, average corporate communications base
salaries increased by 3.3%, while agency base salaries declined by -3.2%;
- The greatest movement in 2006 was in the bonus category. When all titles and specialty categories are combined on a national basis, corporate communications executives saw
average bonus increases of 6.2%, and PR agency personnel saw an 11.2% gain.
The survey results are based on the responses of nearly 18,000 credentialed PR and corporate communications professionals nationwide. Dennis Spring, president of Spring
Associates, addressed the results' implications for the state of the industry.
"We now have what is known as 'full employment,'" he says. "Anyone who's good - they've got a job. Now is the time to be looking. The employees are in the driver's seat, which
puts companies in a predicament. How do you attract and retain good people? It's a conundrum for clients who now have to negotiate to get the best talent."
But this conundrum is a forward-looking one, as the relatively flat increases in 2006 point to the industry's effort to readjust after big jumps in 2005 (7.6% for corpcomm salaries
and 8.9% for agency salaries.) However, Spring says that early 2007 numbers are already showing companies upping the ante to entice candidates who have a buffet of options.
Hourly billing rates also were relatively flat in 2006. The averages by category:
- Ad agency owned: +2.9%, as compared to +10.7 in 2005;
- Top 100 Independents: +2.2%, as compared to +6.6% in 2005; and
- Other Independents: +1.9%, as compared to +2.6% in 2005.
Spring also notes that, based on the 2006 results and early 2007 numbers, many employees are not happy with their pay, so they are looking for new opportunities. Companies are
responding by adding wage incentives and hiring more staff to handle increased work loads.
CONTACT:
Dennis Spring, [email protected]
| PR Agency Average Base Salaries
($000): |
|||||||
|---|---|---|---|---|---|---|---|
| Category | Region | Title | |||||
| Acct. Exec | Sr. Acct. Exec | Acct. Supervisor | VP | SR. VP | Exec. VP | ||
| Corporate | NE |
43-50
|
53-60
|
64-75, 0
|
100-112
|
122-131
|
140-150
|
| SE |
38-45
|
46-55
|
60-70
|
91-100
|
100-120
|
129-137
|
|
| MW |
40-45
|
43-54
|
60-70
|
95-105
|
117-126
|
130-140
|
|
| W |
42-50
|
51-58
|
64-73
|
100-110
|
120-135
|
140-150
|
|
| Corporate/Marketing Average Base
Salaries ($000) |
||||||
|---|---|---|---|---|---|---|
| Category | Region | Title | ||||
| Comms Specialist | Manager | Director | VP | SR. VP | ||
| Corporate | NE |
65-75
|
92-105
|
125-140
|
145-157
|
165-178
|
| SE |
51-62
|
78-88
|
115-125
|
125-135
|
150-162
|
|
| MW |
55-64
|
85-94
|
110-120
|
129-140
|
152-161
|
|
| W |
60-69
|
85-95
|
121-130
|
134-146
|
163-175
|
|