PRCA benchmarking survey reveals that fee incomes and salaries are up

The PRCA's annual benchmarking survey has revealed that overall fee incomes and salaries have gone up, despite the economic downturn.

Onwards and upwards: Fees go up in 2011/12
Onwards and upwards: Fees go up in 2011/12

The survey showed that fees were up by 4%, while the salary increase of respondents had been 4.1%. This compares to the median salary for a full-time worker in the UK rising by just 1.4% in 2011.

This was due, in part, to 36% of respondents revealing that they had increased salaries in order to retain staff – the highest level since 2008.

Redundancies were also significantly down from 2010 at 33%, having reached a peak of 54% two years previously.

In addition, the percentage of companies expecting to make redundancies has fallen from 15% in 2009 to 2% this year. This represents an 80% improvement from the middle of the recession.

The survey also reflected a steady optimism with 24% more respondents expecting the economic condition of the industry to get better than worse.

More than 275 PRCA members completed the survey; from small consultancies with fee incomes of up to £850,000, to very large agencies with fee incomes of more than £5 million.

Chief executive of the PRCA Francis Ingham said: ‘These results are great news for the industry and show that despite tough times, individuals and businesses still place significant value on the work that PR agencies provide. Indeed, in some cases excellent PR is more important than ever.

‘Coupled with the latest economic barometer statistics, these results show that PR is proving to be recession proof and continues to buck national trends.’

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