Editorial staff who responded to the annual Publishers Weekly industry survey have a knack for reconciling contradictory aspects of their work. For example, they self-reported compensation that on average fell 18% for men and 16% for women from 2014 levels. Yet three out of five said they were very confident or extremely confident about the future prospects of publishing.
Salary figures in the PW survey always grab the headlines, and for 2015, they show a wide gap in pay between men and women. Nevertheless, women make up more than three quarters of respondents; if they can rise through the ranks, they should eventually command the top dollar pay that now goes to male senior executives.
Falling salaries may “reflect the success publishers have had in replacing aging, experienced, high-priced baby boomers with younger, less expensive employees,” reports Jim Milliot, the magazine’s editorial director
“If publishers are indeed recruiting a new generation of employees, they do not appear to be hiring minorities,” he tells CCC’s Chris Kenneally. “With the survey finding no real change in the racial composition of the workforce, it is no surprise that only 21% of respondents felt that strides had been made in diversifying the industry’s workforce in 2014.”
Every Friday, CCC’s “Beyond the Book” speaks with the editors and reporters of “Publishers Weekly” for an early look at the news that publishers, editors, authors, agents and librarians will be talking about when they return to work on Monday.