July 15-31, 2004 Edition

PW Study Shows

High Job Turnover,

Smaller Raises

NEW YORK,NY/07/08/04—An annual industry salary survey conducted by Publishers Weekly shows a slight decline in pay raises and job satisfaction from among a high number of respondents (17 percent) who had been employed in their present jobs within the past year. The survey was based on 563 responses from PW subscribers.

An average of 4.9 percent of respondents received pay raises last year (down only slightly from 2002). But other factors showed weaker results. Fewer employees received raises higher than 3 percent. In 2003, 19 percent of the respondents received raises of less than 3 percent, but in 2002, 14 percent received the smaller increase. Sixty-one percent of respondents said they had received pay increases ranging from 3 percent to 5.9 percent in 2003.

Many people (a whopping 19 percent) who have been in publishing for ten years or more would not recommend the profession to others. But of those on the job for less than three years, only 9 percent said they would not recommend publishing as a profession.

Job satisfaction, however, fell from 64 percent in 2002 to 59 percent in 2003, with 32 percent saying they expect to leave publishing within two years.