BOOK INDUSTRY SALARY GUIDE
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.
One possible explanation as to why the corporate group that includes presidents shows a lower average salary than some other management positions is that regardless of a company’s size, it will have a president. Smaller companies (which may not pay as much as some larger companies where the staff oversees more projects and employees) may not have executive vice presidents and vice presidents of marketing, etc. So salaries for presidents at small companies may be substantially smaller, and therefore, bring down the average salary, as well as the median salary (which is also lower than several other corporate management positions) for that grouping.
While other explanations are certainly possible, there is some statistical evidence that seems to support this conclusion. The average salary for companies with less than $5 million in revenue (2006) is $48,700, whereas the average salary for companies with $5 million to $19.9 million in revenue is $76,000, and for companies with $20 million or more in annual revenues, the average salary is $83,000.
Vice presidents/directors of marketing ($101,600) and vice presidents/directors of manufacturing ($100,200) also averaged higher salaries than the top corporate management group. In fact, 25 percent of vice presidents/directors of manufacturing are making more than $127,900, and 25 percent of vice presidents/directors of marketing are making more than $118,300.