Got Salary Envy?

Find out how your compensation compares to your colleagues’ in the 2008 Book Business Salary Guide.

August 2008 By Noelle Skodzinski

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It has been another year of increasing challenges and opportunities for book publishing executives as manufacturing and distribution costs escalate, and the media landscape shifts and shimmies before our very eyes. As costs continue their steep incline and new opportunities on the digital horizon demand more and more attention, many of you have been increasingly tasked with wearing additional hats—whether you’re the president, the head of operations or manufacturing, the production director, marketing director, or just about any other position. While publishing has never been a cakewalk (for most, anyway), it seems that now is a time when you certainly need to earn your keep. And, many of you may wonder—now, more than ever—“Should I be paid more for my hard work?” Maybe you’re wondering, “Am I paying my best production manager a competitive salary (in this region of the country) for all this work?” or “What kind of raises are the norm in the industry right now?”

Book Business’ second annual Book Industry Salary Guide, conducted by independent research organization Readex Research, will help you find answers to those questions and many more.

Gender Gap: Men Still Earn More Than Women
This year’s study shows that men average $100,800 in total annual compensation (base salary plus bonuses and other cash compensation), while women average $70,700. The difference between the two is almost double what last year’s study found: In 2007, the average total annual compensation was $79,200 for men, and $62,800 for women.

Why such an increase this year in the amount men are making over women? Unfortunately, the data can’t answer that, but the increase does prompt a look at who responded to the study both years. More women than men participated this year, while last year, men outnumbered women. This year’s study was comprised of 53-percent women and 46-percent men (one percent did not respond), while last year’s study was comprised of almost the reverse: 46-percent women and 54-percent men.

According to the study, men also reported larger bonuses and other cash compensation than women. Twenty-one percent of men brought home annual bonuses of $10,000 or more during the 12 months ending April 1, while 13 percent of women reported the same bonus compensation. Eighteen percent of men and 17 percent of women reported bonuses of $2,500–$9,999.

Slightly more men (52 percent) than women (48 percent) received additional cash compensation.

The Highest-Paying Positions
It’s no big surprise that corporate/business management positions are among the highest paying in the industry—probably most industries, at that.