Your Guide to Industry Salaries
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.
Last year, more than two-thirds of the industry had received pay increases, while few took cuts (4 percent).
Bonuses also declined this year, with 43 percent of respondents indicating they received a bonus this year versus 50 percent last year. There was little difference, however, in the size of bonuses this year (see the chart below) compared to last year.
For the third year in a row (as long as Book Business has been conducting the salary study), men are earning more than women—on average, $26,400 more. Men report an average total compensation (including bonuses) of $98,300, while the average for women is $71,900.
That statistic shows a slight change over last year, when men reported an average compensation of $100,800, while women made an average of $70,700 (or a difference of $30,100).
As for base salary (excluding bonuses), men reported earning an average of $22,600 more than women.
Study results are based on the responses of 194 women and 163 men.
Educational Publishing Pays the Most
According to the study, executives in educational publishing report the highest average total compensation ($92,800). Close behind are executives in scientific, technical and medical (STM) publishing—who report an average of $91,400 in total compensation. The third-highest-paying segment may come as a bit of a surprise, with nonprofit careers typically being known as lower-paying: Association, government and museum publishing executives report an average of $85,500 in total compensation.
Those executives in custom/special interest and university press publishing report the lowest average compensation ($77,300 and $78,500, respectively).
Which Regions of the Country Pay the Highest Salaries?
The Northeast ranks above all other regions of the country with an average total compensation of $93,700. The South came in as the second-highest-paying region (with an average total compensation of $81,500), beating out the West, which dropped to the lowest-paying region this year, with an average of $74,200 in total compensation.
Which Jobs Pay the Big Bucks?
The average total compensation among respondents who indicated their position is president, CEO, COO or CFO was $120,300—not surprisingly, the highest of all positions surveyed. Lowest on the pay scale are editorial staff ($48,100 average compensation), creative/art director ($52,700), marketing management ($63,800) and editorial management ($81,200).
The charts below will give you an idea where your salary falls compared to your peers’.
For each job position, average total compensation is listed, as well as the percentage of each group that is earning below a certain amount. For example, in the first chart, 25 percent of executives in the president, CEO, COO or CFO position reported earning below $66,300; 50 percent of respondents’ salaries fall below $102,000; and 75 percent are below $147,500. The 50-percent figure represents the value that lies at the middle of all respondents, so exactly half of respondents are above that figure and half fall below it; this number represents what a “typical” person in that position makes.
(Certain positions, including those in digital media and rights management, are not provided due to insufficient survey response for a legitimate estimate for those positions.)