Judith Cushman & Associates

Retained Executive Search in Communications

Presented by Judy Cushman at the PRSA Puget Sounds Chapter Luncheon, January 16, 2003:

Recent Trends Mean Cautious Optimism for PR

and Marcom Professionals

You may be wondering where we are along the road to economic recovery in the U.S.  And you also may question the implications for the public relations profession.

The Road to Recovery

The good news is, the worst is over. In fourth quarter 2002, there was little cause for celebration. But now, at the beginning of 2003, the hope is that we have turned the corner. There is a sense of looking ahead, cautiously and beginning to plan for a recovering market. My guess is that the timeframe is still not a matter of one or two quarters but a full year.  There are several waves of recovery needed:

1. Jobs that have been frozen that are still needed to relieve staff of overwork, etc. These are generally solid mid-level posts that have been defined and can be readily filled.  Senior openings, despite the recession, are being filled.

2. Jobs that reflect a new area of expertise fulfilling a strategic goal of the organization.

3. Jobs that support new growth initiatives. These only make sense if the forecasts support proactive investment to take advantage of a growth situation.

Compensation Trends

In line with the change in the market, two factors influence compensation:

1. The flexibility of excellent candidates who are willing to switch jobs for small salary increases because of the appeal of the position. They recognize the right job in this environment doesn’t occur frequently and they can’t demand changes in total compensation. 

2. The availability in the marketplace of strong candidates who are out of work due to the economy.  When someone is not working, their acceptable salary to drops to lateral or lower.

Workplace Trends

Salary inequities create other market issues, including compression and confusion.  The number of out of work professionals who are willing to take jobs they are overqualified to fill has created confusion in the marketplace and impacted career options of junior-level candidates who simply cannot compete.

For beginning professionals with less than six years of experience, I am convinced they have essentially lost several years of growth and development as the work they can find (or do) has been limited.

Job Trends

But fear not. There are positions out there. Openings are occurring in the following areas:

• Consumer (with an on-line component)

•  Financial Services

• Healthcare

• Biotechnical/Pharmaceutical (with a more cautious outlook)

• Technology companies (corporate side more than the agency side; highly selective)

• Agencies (selectively hiring to build up practice areas where they see growth -- e.g. healthcare and bio) Also adding areas reflecting the challenges in business -- litigation, crisis. They have trimmed the tech practices and are reorganizing to grow.

Salary Ranges

• Director-level salaries have dropped from $150K+ to $125K+

• Options are less common; focus is on cash bonuses, short-term incentives

• Mid-level professional range is more $60K than $80K

• Top posts are at or above $200K base

• Junior posts (below manager level with fewer than five years’ experience) are in the $40K-$50K range.

The Challenge of Being Prepared

I have seen are weaknesses in candidates as they present themselves. They need to spend time deciding how to best define their level of contribution, as well as their ability to contribute, their skills and what environments do they do best in. The overwhelming impression I get is that most candidates have a lack of clarity in how to present themselves.

A final key point for unemployed PR and Marcom professionals: Recognize how competitive the environment is and what it will take to pursue an opportunity once you determine you are interested. There is no excuse for not doing your homework.

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