A survey carried out by the PRCA revealed that overall fee incomes and salaries across the PR industry have gone up, in spite of the economic downturn.
The Public Relations Consultants Association is the professional body representing a range of Public Relations Firms specialising in Consumer, Healthcare, Corporate, Technology and Financial PR. The organisation carries out an annual benchmarking survey to analyse performance within the industry.
More than 275 PRCA members completed the survey with respondents ranging from small consultancies with fee incomes of up to £850,000, to very large PR agencies with fee incomes worth over £5 million.
The survey revealed an average salary increase of 4.1% from respondents, comparing favourably to the median salary for a full time worker in the UK, which rose by just 1.4%.
The increase was partly due to over a third (36%) of respondents revealing they increased salaries to retain staff – the highest percentage to do so since 2008.
Redundancies have also fallen significantly since a peak of 54% in 2009; down to 33%, with the percentage of companies expected to made redundancies also falling to just 2% in 2011, an 80% improvement on recent years.
The survey also revealed respondents to be increasingly optimistic of the future with 62% of respondents believing the economic situation in the industry to get better rather than worse.
Chief executive of the PRCA Francis Ingham was delighted with the results. He said: “These results are great news for the industry and show that despite tough times, individuals and businesses still place significant value on the work that PR agencies provide. Indeed, in some cases excellent PR is more important than ever. Coupled with the latest economic barometer statistics, these results show that PR is proving to be recession proof and continues to buck national trends.”