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An old proverb states: “It will not always be summer”—in other words, be prepared for bad weather or bad times. Economically speaking, it is certainly not summer, and the book publishing industry has been no exception to those affected by the recession. The bottom line: If you didn’t get a raise this year, you’re not alone.
More than half the industry either received no raises (36 percent) or took pay cuts (15 percent) this year, according to Book Business’ third-annual “Book Industry Salary Study,” which reviews compensation trends at U.S. book publishing companies. Less than half (48 percent) of book publishing executives received an increase in their compensation this year over last year.
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