Curious...why do you all work at agencies which pay low vs publishers or brands which have better job stability and all around comp?

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Short answer? Because working in a corporate office sounds like my personal idea of hell.

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Publishers? Isn't that worse than advertising?

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For me as a creative it's about pace and variety. At an agency I can work on a number of brands vs. one or two, and the pace keeps me from getting bored. Some of my friends on the publisher side not only have little to do in comparison, they also have these huge gaps of downtime depending on seasonality or the client - from what I've heard.

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I've worked in buildings that have publishing houses in them. You can spot publishing people from a mile away, and their diversity problem is way, way, way worse than ours. The only people who work in publishing have rich parents who take care of them well into their 30s and maintain their virginity until their 40s.

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By publishers, I think OP also means websites and media properties, like Time and Conde.

I dunno. I've heard mixed things

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Publishers as in media websites

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Had more security at agencies. I worked for a pub for two years as a contractor and never once was considered for full time. Yes, agencies can be toxic, but some of the people I encountered at the pub were disgusting pieces of fucking shit.

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I've worked client side and agency and prefer the variety of assignments and needs of agency life versus one client and one assignment. Years ago I went on a job interview for a bank that was paying over six figures. I turned it down because my neighbour worked for the same bank and he was fucking miserable. Immediately following my lunchtime meet with the headhunter I went back to the office and worked on three different clients within four hours.
Oh and I'm not sure what you are talking about being poorly paid. I make more money now than I ever have in my entire career and I'm happier than I've ever been in my entire career.

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Publishers - like working for magazines?

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Publishing doesn't pay much

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Maybe it's a regional thing but I've made more money at just current agency than I would have made at my previous two tech companies. Raises suck but significant bumps with my 3 promotions.

Publishing??? Really? And I came from client side. There is no more stability there in most industries. Mergers/takeovers (3G)/management churn...

Variety and not getting pigeonholed early on

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