Related Posts
More Posts
Bowl Leader
Visual Storyteller
f*ck your towels
Enthusiast
Additional Posts in Advertising
Enough with the nasty, DMA!
IG: thethinkpol
Tom Bagot, RIP
Chief
Got any jokes?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Rising Star
I don’t understand why agencies do this. They let good talent walk because raises are a joke and then the agency has to hemorrhage money on freelancers to cover while they look for a FT replacement who then ends up making the same salary amount the departed talent wanted in the first place. And then the new hire has to be onboarded and it’s a crap shoot on whether the new hire ends up being a good long term fit.
Chief
Because we operate in a capitalistic shareholder system that has devolved to champion short term profit margins over long term gains. Anything that cuts into quarterly earnings is now deemed “bad” regardless if those short term losses lead to higher profits in the end. Companies used to invest in talent. Now, they invest in whatever is cheapest for the short term.
Rising Star
Publicis?
Chief
The independent agencies will pay those people what they’re worth and they’ll leave.
It’s happening all over the agency world. The holding co agencies are getting murdered in recruiting
You ain’t lying.
If you work in a public company, it’s extremes hard to reverse such short-termism thinking. The regular reporting to markets / or holding group drives a short term lens that easily over-rides smarter but harder long term actions. It takes a good CEO/CFO to make the right call on this, and it gets exponentially harder if market and business conditions are tough, which is often an agency concern. Far easier to just squeeze existing employees, accept the mid-term cost of higher churn and hope the environment improves. Also easy to do when most agencies demonstrate the same modus operandi, just that we create an industry structural issue that the only way to be rewarded fairly is to switch agencies.
Chief
Sadly we operate in a capitalistic shareholder system that has devolved to champion short term profit margins over long term gains. Anything that cuts into quarterly earnings is now deemed “bad” regardless if those short term losses lead to higher profits in the end.
Companies used to invest in talent. Now, they invest in whatever is cheapest for the short term. And if that means throwing people titles and not having to pay them what they’re worth, than that’s what they’ll do.
The only way to get a significant raise is to have another offer in hand or a critical role in winning a big piece of business. I know of people denied a $10k raise one day, then quickly offered a $50k raise when they resigned to go to another agency.
Would be genuinely surprised to see if anyone answers yes to this. I’ve tried at an old agency and failed because they saw it as a “cost of living” increase, which no one does.
I’m currently struggling to try to get mine adjusted now, since I found out they’re hiring managers at the exact same pay rate that I’m making 🙃