Corporate: Salary analysis

Level Average range Median Average bonus
Managing director £110,000-£152,000£148,500 *
Director £77,000-£118,000 £110,500 20%
Associate director £54,000-£70,000 £66,000 18%
Account director £46,500-£55,000 £49,000 17%
Account manager £30,500-£41,500 £37,500 15%
Account executive £20,000-£29,500 £25,500 15%
*Insufficient data

The view from here

For corporate communications consultancies, 2008 was a busy year as teams continued to expand and recruit. Demand was strong across the sector including global consultancies, mid sized agencies and financial services specialists and salaries increased from the previous year.

As in 2007, account managers remained in huge demand, closely followed by account directors and account executives in equal measures as consultancies looked to build teams at the top and bottom. Account directors with financial services expertise were highly prized and most definitely the hardest to find, as established professionals often want to move in-house in preference to another consultancy.

A frequent request by global consultancies was for international and emerging market client experience (often handling Russian clients) to support the increasing amount of international campaign work they were overseeing from the UK.

We handled a record amount of in-house corporate communications roles. Our in-house clients ranged from major retailers, global technology firms, private equity houses, retail banks to law firms, accountancy companies as well as associations and some charities. The most frequent requirement was at PR manager level followed by executive, then head of communications. The most active were accountancy firms and insurance companies looking to grow their teams.

The market remained candidate-driven with 'great calibre' candidates difficult to find. Senior account executives were in abundance, frustrated with not moving up to account manager level as quickly as desired.

Candidates were, on the whole, happy with more modest pay rises as the credit crunch began to bite. A marked difference from 2007, when confidence was high and requests could be more ambitious.

At account executive level the motivators to move companies are often prompted by the desire to move up and take on more responsibility. Some also take the opportunity to change discipline. We found more looking to move into public affairs or financial PR. The majority requested consultancy roles with a few desiring in-house.

Account managers' biggest gripe and main reason for leaving their consultancy role was that they were spread across too many industry sectors, making it difficult to keep abreast of industry issues. A surprising 90% requested an inhouse role so they could concentrate on one industry sector. Those considering another consultancy were more often from smaller consultancies looking to broaden their experience or move to a larger consultancy and handle higher profile accounts.

Account directors with broad consultancy experience wanted to specialise and vice versa. 95% requested an in-house move, frequently mentioning issues-led roles. Those interested in consultancy wanted challenging, issues-related work.

Associate directors' and directors' main drivers were more focussed on culture, citing 'too political', 'too sales focussed', and personality clashes with senior management. Requests were for flexibility and a better work/life balance. Whether in-house or consultancy was desired, the most attractive pull factors were stakeholder engagement, diversity and issues-led roles.

By Q3 2008, corporate communications consultancies and teams in global consultancies started to feel the effect of the credit crunch. The financial services and property specialist consultancies and teams were the first to make redundancies with account executives being the most vulnerable.

In Q1 2009, with the recession biting, consultancies continued to make redundancies (usually between 5 - 10%) as client budgets were cut, communication was taken in-house or most unfortunately the clients liquidated. The redundant in-house roles were often at PR manager level and mainly from the financial services and property sectors.

Hiring in 2009 is on a much smaller scale both in-house and consultancy and is mainly coming from replacement roles, maternity cover contracts and the rare growth hire.

The views from the market

How are you going about positioning yourself for when we come through this recession?
“We are committed to ongoing training and development which will embed our skills and ensure we continue to deliver exceptional results for clients. In doing so, we will demonstrate our capability as specialists and thought leaders. By maintaining and/or increasing our current staff levels we will be well placed to chase and win new business as the economy picks up.”
“We have a major new biz drive. We are ensuring our existing clients are satisfied. We are not automatically replacing people when they leave.”
“Investing in our people and our brand.”

What do you think the knock on effects of this market will be for recruiting staff when the market starts to grow again?
“While a recession results in organisational restructuring and inevitably job losses, this will mean that some highly skilled people (and a lot of less talented people) will find themselves looking for work. Recognising that firms will be reluctant to let the most talented people go, it will be a matter of 'right time, right place' to identify and recruit the very best talent.”
“I'm sure we will go back to where we were - higher demand for good quality staff and not that many good quality staff available.”
“A lot of staff movement.”
“Even greater shortage of high calibre people.”
What kind of skills do you think the new economy will require?
“The new economy will require people with an 'enterprise first' mindset. These people will be committed to putting the greater good of the company ahead of their own personal ambitions. Self starters will get ahead quickly.”
“Flexibility and wider skills than just media relations.”
“Bright, well educated, inquisitive and adaptable people will be required, with an understanding of digital and traditional PR and marketing.”
What kind of shape do you think the industry will be in when growth returns?
“I think the PR industry will be 'lean and mean' when growth returns. Each business will have stripped out any 'fat' but will be operating higher levels and continuing to deliver good returns. However, people will be fatigued and will be ready for some respite.”
“The industry will be hit hard. However, during times of recession the PR industry usually survives as it is a more cost effective discipline than advertising etc.”
“Mixed - well managed companies will be in good shape, others will not. Overall, there will be excellent opportunities for those in a position to take advantage of them.”
What is the best thing a recruitment consultancy/consultant has done for your company?
“Kept us abreast of industry developments, actually listened to our needs - or lack of them - and responded accordingly.”
“Learning about the type of candidates we are looking for. Therefore they only send over candidates they truly believe we would like.”
“Continue to provide a good service and offering suitable candidates for our needs.”