David Benady’s analysis quotes one leading marketer as saying that “agencies should cut back on excessive salaries” rather than charging brand owners more (MW last week).
This marketer obviously does not remember The Brand Finance (August 2004) report for the IPA – Rewarding the Advertising Profession – which showed that the gap in pay levels between advertising personnel and comparable roles in accountancy, law and marketing had widened since 1991.
And the shocker was that the advertising salaries hadn’t kept pace, despite the fact that efficiency levels had improved, which had had a positive impact on profit levels.
Every business will have its star players and adland is no different. And those stars will be the people who are pivotal to success. So, let’s not credit the myth that all ad agency staff are paid exorbitant salaries.