It used to be an accepted fact that PR consultancy was a flaky
As recently as ten years ago, it was not uncommon to hear tales of
financial mismanagement which would give an accountant heart failure.
Businesses which grew weed-like during the 1980s boom, when even the
most incompetent were able to thrive, shrivelled and collapsed the
instant that recession hit. Training was a joke, and the idea of
adhering to quality standards was not even on the agenda.
How times have changed. The PRCA benchmarking study reveals a picture of
the typical PR consultancy as a well managed, professional service
business producing respectable profit margins, and investing wisely in
people, systems and standards.
But despite the strides that the business has made in professionalising
itself, the average hourly charge-out rates still look out of step with
other professional service firms like lawyers, accountants and IT
If nothing else, the PRCA findings should give PR firms the confidence
to charge rates which are more in line with the value they provide to