Edit Salaries Slump in 2009
Association salaries compare favorably with consumer, b-to-b.
Magazine editors saw salaries rise for the most part in 2008 but they expect a significant decline of possibly 10 percent or greater in 2009, according to the 2009 FOLIO: Editorial Salary Survey, conducted by Readex Research. The mean salary for editorial directors was $89,000, with b-to-b coming out on top at $98,200¬† followed by consumer at $90,800 and associations at $81,300.
However, just 20 percent of editorial directors expect a salary increase in 2009. Forty-seven percent expect it to stay the same, while 31 percent expect a decrease (of that number, the majority‚ÄĒ15 percent‚ÄĒsay they think¬† it will drop by 15 percent or more).
Editors and executive editors saw a mean salary of $69,500 in 2008, with association coming out on top at $74,900, followed by b-to-b at $70,600. Just 17 percent of respondents expect an increase, while 53 percent expect salaries to be flat in 2009.
The consumer side posted the largest salary among managing and senior editors at $65,400, followed by association at $56,200 and b-to-b at $55,600. Again, 53 percent of managing/senior editors expect their salaries to¬† be flat in 2009.
Some respondents wondered if a changing business model could mean lower salaries long term. ‚ÄúClosing down print products could be smart from a cost standpoint but getting big dollars from online is a challenge, which could result in cuts in pay and staff.‚ÄĚ
‚ÄúCompensation may not change but workload will due to reduced staff,‚ÄĚ said another. One association editor talked about a shrinking readership. ‚ÄúSmaller organizations are disappearing and merging companies will mean less dues money. That means less operating money in budget for salaries/bonuses.‚ÄĚ