Key Takeaways Include a Consistent Gender Gap and Creative Company Benefits
Cynopsis, the premier daily publication for television and media executives, revealed the results of its 2019-2020 Salary Survey. The full study can be viewed on Cynopsis.com’s Salary Survey page and Jobs site.
Average salaries are relatively consistent from Cynopsis’ 2018-2019 survey, and the gender gap remains prevalent across all departments and titles – of those who responded, men continue to receive higher salaries than their female counterparts.
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On average, males continue to out-earn their female counterparts by +27%, translating to a difference of $31,200. From the 2018 study, this represents an increase of +10% in the gender gap. This disparity is prevalent across all titles and departments in the study.
In some departments (Legal/Finance, HR & Operations and Programming), the annual difference can range between $45,000 and $55,000. The narrowest gap is among Buying/Planning and Research workers, where the gap is $12,600 on average.
“We felt it was important to point out the visibly ongoing gender gap that emerged from this year’s data,” says Robbie Caploe, Cynopsis Publisher. “Although it’s worth noting that the survey findings show a female skew in the respondents, the disparity remains a challenge for the media industry overall.”
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Another noteworthy finding related to benefits, which are becoming more varied. Aside from standard offerings such as gym memberships, flexible scheduling, and volunteer programs, new benefits are surfacing, too. Pet insurance, college loan assistance, elderly care, patient advocacy, and legal services are among other perks companies are providing employees – and that’s key to attracting top talent. “The more variable the options, the more likely an employer will be able to provide something that is especially valuable to each employee. When it comes to non-financial rewards, the key is customization because that’s how you make these rewards especially valuable,” says Bruce Tulgan, author, workplace expert and founder of RainmakerThinking. “Economists call this ‘a unique value proposition’ – when you can do something for somebody that they really want, that will be more valuable to that person than its average cost in the marketplace.”
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