Prior to the impact of Covid-19, the Creative Industries were growing more than five times faster than the economy, contributing £306 million every day. Despite the economic uncertainty, it is anticipated that the sector will continue to remain one of the UK’s largest contributors to the economy.
This year's salary survey, in conjunction with The Drum, was compiled using data from over 3,000 respondents and highlights a range of insights across pay, bonuses, job satisfaction, job security and gender differences. It also discusses the effects Covid-19 has had on candidates and clients alike through additional subsequent surveys.
Key highlights from the survey:
Prior to the pandemic, around 60% of companies were actively hiring across creative, digital and tech. This dropped to 35% during lockdown with an emphasis on hiring across digital, tech, social, data and performance marketing. Encouragingly, 55% of brands and agencies were still looking to hire within the coming months (June 2020).
Around 57% of respondents had received a pay rise prior to Covid with employers willing to pay a higher price for skilled, in-demand and talented workers. In May, 40% of respondents had received a temporary pay cut, while a further 18% had lost a bonus that had been promised to them.
Flexible working remained high on respondents' agendas for the second year in a row, with Covid-19 further accelerating this. In addition to this, over 82% stated that a good work/life balance was the most important aspect of any role, shortly followed by interesting work (78%).
Brands are increasingly favouring building in-house teams with a more DIY approach to their own creative endeavours. As a result, 60% of respondents who currently work agency-side are looking to make the move to a brand in the near future
Diversity and inclusion continues to be a major challenge for the industry. Gender representation had increased vastly within the last 12 months with 70% of roles being acquired by women. The industry still has a long way to go, however, as only 11.4% of industry jobs are filled by black, Asian and minority ethnic people and those aged 45+ were under under-represented within creative roles.
Digitalisation and the advancement of new technologies such as VR, UI/UX and AI continue to change how we work with brands putting stronger emphasis on driving personalised consumer experiences. There has been an increase in demand for marketers and creatives with a more multi-disciplinary skill set.
Sustainability and ethical practice continues to be high on the agenda for many brands, particularly as conscious consumerism and sustainability concerns continue to be relevant. It remains to be seen how brands prioritise this post-Covid.
To download the Major Players Salary Survey 2020, please visit www.majorplayers.co.uk.