BOOK INDUSTRY
SALARY GUIDE
ARE YOUR PEERS
MAKING MORE THAN
YOU? HERE IS YOUR
TOOL FOR SOLVING
THE COMPENSATION
PUZZLE.
August 2007
By Jim Calder And Noelle Skodzinski
ou may be sitting at your desk wondering if the stressful job that is giving you gray hair and ulcers is worth it. Or, you may be perfectly content in your current position, but just a little bit curious as to whether your salary is competitive. You also may be wondering whether you are paying your staff enough to keep them from exploring other opportunities.
Now, using Book Business’ first “Book Industry Salary Guide,” you can see how your salary and your staff’s salaries compare to others in similar positions at other book publishing companies.
The guide is based on data compiled from a comprehensive survey conducted by independent research organization Readex Research, with cooperation from industry organizations the Book Industry Study Group Inc., the Association of Educational Publishers and the Evangelical Christian Publishers Association. The survey findings, which are based on responses from 675 individuals, incorporate important variables such as demographic information, including age, gender and level of education.
Men Make More Than Women
Among the survey’s notable findings is the difference between salaries for men and women. According to the survey, men average $79,200 in total annual compensation (including bonuses and other cash compensation), while women average $62,800. In other words, on average, men earn $16,400 more than women.
If you look at the median salaries, which show the exact midpoint of men’s and women’s salaries, the gap closes by only $500, with men ($71,300) earning $15,900 more than women ($55,400).
On a percentage basis, the gender salary gap in the book publishing industry is less than the nationwide average across all industries. According to the “Book Industry Salary Guide” data, women are paid, on average, about 79.3 percent of what men are paid; and according to the National Organization for Women, women in all industries are paid, on average, about 77 percent of what men are paid.
Older May Be Wiser, But Not Necessarily Higher Paid
Another interesting finding from the research is the fact that salaries are not necessarily proportionate with age. Total compensation for executives ages 55 and older was, on average, $69,200, while executives ages 40 to 54 reported earning, on average, $75,400. Executives less than 40 years old averaged $63,800.
The Highest-Paying Positions
It’s likely not surprising that most corporate management positions are among the highest paid in the industry. However, according to survey data, executive vice presidents average higher salaries than those in the top corporate grouping of presidents, CEOs, COOs and CFOs. Executive vice presidents reported an average salary of $116,600, while presidents (etc.) averaged $93,700.
THE SURVEY
METHODOLOGY
Research for Book Business’ 2007 “Book Industry Salary Guide” was conducted by an independent research organization, Readex Research.
The sample for this research project consisted of 5,404 valid e-mail addresses from recipients of Book Business’ e-mail newsletter, Book Business Extra.
A second sample was selected by Book Business from a pool of publishing industry professionals. Sources for this list included the Book Industry Study Group Inc., the Association of Educational Publishers and the Evangelical Christian Publishers Association. These combined second sample resources represented an estimated total of more than 5,000 unique individuals.
Data were collected via electronic mail from May 3 to May 14. The survey was closed for tabulation with 675 usable responses.
The margin of error for percentages based on 675 usable responses is ± 3.7 percent at the 95-percent confidence level. That is, 95 percent of the time Readex can be confident that percentages in the actual population would not vary by more than 3.7 percent in either direction. The margin of error for percentages based on smaller sample sizes (for some questions) will be larger. BB
Now, using Book Business’ first “Book Industry Salary Guide,” you can see how your salary and your staff’s salaries compare to others in similar positions at other book publishing companies.
The guide is based on data compiled from a comprehensive survey conducted by independent research organization Readex Research, with cooperation from industry organizations the Book Industry Study Group Inc., the Association of Educational Publishers and the Evangelical Christian Publishers Association. The survey findings, which are based on responses from 675 individuals, incorporate important variables such as demographic information, including age, gender and level of education.
Men Make More Than Women
Among the survey’s notable findings is the difference between salaries for men and women. According to the survey, men average $79,200 in total annual compensation (including bonuses and other cash compensation), while women average $62,800. In other words, on average, men earn $16,400 more than women.
If you look at the median salaries, which show the exact midpoint of men’s and women’s salaries, the gap closes by only $500, with men ($71,300) earning $15,900 more than women ($55,400).
On a percentage basis, the gender salary gap in the book publishing industry is less than the nationwide average across all industries. According to the “Book Industry Salary Guide” data, women are paid, on average, about 79.3 percent of what men are paid; and according to the National Organization for Women, women in all industries are paid, on average, about 77 percent of what men are paid.
Older May Be Wiser, But Not Necessarily Higher Paid
Another interesting finding from the research is the fact that salaries are not necessarily proportionate with age. Total compensation for executives ages 55 and older was, on average, $69,200, while executives ages 40 to 54 reported earning, on average, $75,400. Executives less than 40 years old averaged $63,800.
The Highest-Paying Positions
It’s likely not surprising that most corporate management positions are among the highest paid in the industry. However, according to survey data, executive vice presidents average higher salaries than those in the top corporate grouping of presidents, CEOs, COOs and CFOs. Executive vice presidents reported an average salary of $116,600, while presidents (etc.) averaged $93,700.
METHODOLOGY
Research for Book Business’ 2007 “Book Industry Salary Guide” was conducted by an independent research organization, Readex Research.
The sample for this research project consisted of 5,404 valid e-mail addresses from recipients of Book Business’ e-mail newsletter, Book Business Extra.
A second sample was selected by Book Business from a pool of publishing industry professionals. Sources for this list included the Book Industry Study Group Inc., the Association of Educational Publishers and the Evangelical Christian Publishers Association. These combined second sample resources represented an estimated total of more than 5,000 unique individuals.
Data were collected via electronic mail from May 3 to May 14. The survey was closed for tabulation with 675 usable responses.
The margin of error for percentages based on 675 usable responses is ± 3.7 percent at the 95-percent confidence level. That is, 95 percent of the time Readex can be confident that percentages in the actual population would not vary by more than 3.7 percent in either direction. The margin of error for percentages based on smaller sample sizes (for some questions) will be larger. BB
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