According to the latest media agencies salary survey from recruitment agency Xchangeteam, the average salary level at senior to board level dropped to £94,400 in 2007 from £95,400 in 2006. The top end of the range also came down to £125,000 from £145,000, although the bottom end of salaries edged up to £67,000 from £65,000 the previous year.
The survey, an amalgamation of data from the top 20 media agencies, taking into account all roles, including digital and international, revealed that the slump in higher-end boardroom executive salaries was causing a shortage of candidates at senior levels.
The recruitment specialist said: “Agencies are finding it difficult to recruit, as they are offering less money for more experience. The average salary for a business director has dropped by almost 2%.”
The exception to this rule is the growing trend among smaller agencies to pay good salaries in order to lure senior candidates from the bigger agency groups, according to Xchangeteam.
Graduates and junior media agency staff, meanwhile, had a much better year in 2007, with salaries being propped up by a huge growth in demand.
Starcom chairman Jim Marshall said it was still tough to find and hold onto junior staff. He said: “There is also a degree of natural wastage. It takes around 18 months to work out whether you want to be in this industry.”
Among other findings, the average salary at entry level has increased by 1% to £18,000, up from £17,786 in 2006, with some agencies paying as much as £22,000 for an exceptional candidate.
A media planner/buyer with three to four years’ experience can now command an average salary of £35,000, up from £31,979 in 2006. The top end of the range remains unchanged at £45,000.
This compares to a more conservative estimate of £32,300 as an average salary for a planner/buyer with three to five years’ experience, according to the PFJ Media Salary Survey 2007.