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“But you get great benefits like 10 vacation days, 2 floating turds, 401k and a mini cupcake for your birthday. So it pretty much equals out."
Manager 1 - those elusive free days off when you break your ass pursuing Cannes Lions on account’s that won’t ever get it.
Salaries haven’t gone up because it’s a buyers market. Too many of us on the streets now that agencies have laid off 3/4 of their senior creatives and replaced them with an army of cheap juniors. Think hard about losing the $75k b/c every CD I know is being worked to death trying to compensate for not having anyone seasoned enough to rely on to do the work
It’s normal to make a little less full time because they usually include benefits, PTO etc but $75K is a lot.
Hard to say without knowing the numbers. Maybe you’re just very highly paid as freelance?
Because client budgets are going down.
And because the AOR relationship is dying, so agencies have less guaranteed money to play with.
Lots of competion from small players, internal agencies & consultants on provider/supply side and difficulty operating efficiently in many agencies (especially big, siloed holdcos) - procurement and competition on client / demand side.
Freelance gets paid a premium in the short term because we don’t have a long term solution in place. If they now have a long term need, they’re going to need to find a price that’s sustainable long term.
Maybe it’s not that you’re getting paid less, but that you got a sweet gig for a while of being paid more.
(Still, 75k is quite the hit. I’d have expected closer to 35.)
@BBDO those numbers make a lot of sense. I know freelance CDs that make 300+, that many agencies would pay 225 or so for.
Their half of the payroll tax, benefits, and vacation are where that 75k is coming from, plus the effect of salary bands by title
Looking the other way, formula I was told years ago: take your hourly rate (for the FT salary you have), double it and add 30%. That's what you should charge as freelance rate (to compensate for lack of benefits and your own overhead, including hardware, advertising and periods you have no contract). That probably no longer holds true since so many people freelance (in all roles and disciplines) but $75k less could be wholly reasonable if you were around $75 hourly as freelance.