Corporate vs. AgencyWhere Will You Work?

CWU PRSSA

Kevin M. Brett

October 13, 2014

According to a Survey of PRSA Members

• Corporations: 26 percent• Agencies: 20 percent• Non-Profits: 17 percent• Education: 13 percent• Government: 10 percent• Other: 6 percent• Freelance: 6 percent• Professional Services: 2 percent

Why Corporate?

• 24/7/365 for the Company• Reports to CFO, Mktg., Sales• In-House/Agency/Combo• More Credibility with Media• ESPP/Stock Options• Higher Regard by Media

Corporate Challenges

• Bad Actors (e.g., Enron)• Green Washing (e.g., Fed-Ex)• Pink Washing (e.g., 5-hour)• Excessive Exec Compensation• Product Recalls• Faulty Investor Guidance

Corporate Opportunities

• Killer Apps• Breakthrough Products• Good Salary/Benefits• Foreign Exposure• Inside Hiring• Wealth Accumulation

Why Agency?

• Billable Hours Spread Sheet• Client Teams; Multiple Bosses• Hired Gun• Deep Rolodex• Salary, Benefits and Bonus• Foreign Office Assignments• More Intern Opportunities

PR’s Holy Grail: Agency Experience

• Required by Many Employers• Multiple Clients• Compartmentalization• Multi-Tasking Skillsets• Agency Universities• Foreign Assignments• Foreign Clients

Two Primary Methods of Engagement

• Project: Specific task, aimed at a specific audience at a specific time for specific price + OOPS.

• Retainer: Contractual Engagement Based Upon a Monthly Fee + OOPS; Monthly Reports; Periodic Agency Review ($15,000 or more per month in Silicon Valley)

Why Not Agency?

• Billable Hours Spread Sheet• Three or Four Clients• Difficult Client Personalities• Need A.D.D.• Burn-Out Potential• Lower Regard by Media

Rely on “Karma”?

It's not really about asking for the raise but knowing and having faith that the system will actually give you the right raises as you go along. And that I think might be one of the additional superpowers that quite frankly women who don't ask for raises have. Because that's good karma, that'll come back.” – Microsoft CEO Satya Nadella

Addressing PR Gender Pay Inequity

• Male Practitioners: $84,368• Female Practitioners: $76,063• Delta: $8,305• Delta x 40 Years: $332,200

Technician vs. Managerial

• Technician: Five-Figure Salaries• Managerial: Six-Figure Salaries

Preferences and Choices

• Non-Profit Communications: $62,275

• Corporate Public Relations: $88,823

Preferences and Choices II

• Community Relations: $63,437

• Financial Communications: $117,233

Pay Rates for IR/PR Directors

• Investor Relations Director Range

$97,753 to $201,565• Corporate Public Relations Director Range

$86,469 to $167,836

2013 Source: Salary.com

Most Powerful Woman on Earth