I think it may be time to reevaluate my career choice, or at least Ad Age thinks I should. According to a recent article, the advertising industry is losing the best and brightest recruits because of lack of compensation. The average starting agency salary is $32,000, and in California that isn't much. That is actually 20% lower than the average starting pay of a librarian. That's insane. The types of people they are looking for are opting for jobs in the FBI or consulting firms, where the average starting pay is $88,000. It seems I definitely need to reconsider! The biggest problem with this situation isn't for the starving ad exec, but for the advertising firm itself. When the industry can't compete for the best talent, the industry slows, loses the ability to be innovative and in turn only looks less and less attractive to up and coming talent.
Apparently ad firms feel the luster of the glamourous lifestyle that advertising provides is enough of an incentive to take the lower pay. It's that whole love your job versus living above the poverty line paradox. Of course the potential to move up in the firm is always a possibility, and with it comes better pay, but how long is one willing to wait? If you are a young 20-something who can still live at home until you move up in your career and salary level, or at least until can afford to live on your own, then this is a no brainer. On the other hand if you have a mortgage and kids, this choice may not be so obvious, or may not even be a choice at all.
This all seems a little depressing, but the reality is if you want the job of your dreams sometimes you have to make some sacrifices including low pay and late nights. And in this economy, you better take what you can get!
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