Budgets are being slashed left and right. As an older, more highly compensated employee in this industry I see where this is heading.

Might be finally time to switch industries

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Advertising has always suffered first in a downturn. But during the last one in 2010, I quit to freelance and made out very well. Helps to know all things digital and respect younger and diverse coworkers.

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I was freelance 2008–2012. 2008 and 2009 were brutal.

Yeah but which industry will survive the pandemic?

Pharma companies are slashing budgets too. Reps can’t detail docs. Patients aren’t making appointments or cancelling. New scripts are plummeting. The only hope is telemedicine for a while.

Not a bad idea, if you can pull it off. Just last week Anomaly asked everyone making over 100k to take a pay cut. The whole industry is shrinking and we’re along for the ride unless we jump ship before it capsizes.

SVP1 - maybe I’m missing something, but why is Anomaly not a good example of how the industry is unwell and shrinking? They’re supposedly doing well, definitely considered one of the better agencies right now, and still forced to go through layoffs, as well as screwing over people they’re not letting go.

I would try to separate older from highly compensated, and think of your inherent value. Make sure the law of diminishing returns doesn’t apply to you...salary versus productivity. I’ve seen many situations where some agree to reduce their salary to stay in the game. And that’s not necessarily a bad thing.

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