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Conventional wisdom is that "prestige independents" pay best. The agencies that aren't owned by holding companies don't have to worry about budgets imposed on them, so they're free to pay more. As for caveats, there's the usual golden handcuffs scenario, you may be paid so well you don't want to leave, but get stuck working for boring clients. Or, you'll be expected to work 70-hour weeks.
Interesting take!! Never even heard of prestige independents, so I will have to look into this.
If you think about your salary as a mix of benefits, perks and future opportunities then holding companies are great
I will have to look into this
Mentor
Generally, holding company agencies (WPP, Publicis, IPG, Omnicom shops) pay more than independents — but the caveats are real. Higher base often comes with brutal hours, rigid hierarchy, and slower promotion timelines.
The agencies with the best rep for comp right now tend to be consultancy-owned creative shops (Accenture Song, Deloitte Digital) and in-house agency models at major brands — they benchmarks against corporate salaries, not agency ones.
Independent boutiques often underpay on base but offer equity, flexibility, or faster title progression that can set you up for a bigger jump externally.
What size agency are you targeting — and is base or total comp the priority?