RAME Global’s Post

The wave of #layoffs has highlighted the importance of #salary transparency in the #musicindustry. It is essential to understand the trade-offs between salary and roles, as it can make negotiations easier and aid in decision-making when pursuing a role. Salary increases are often tied to experience, #management level, and titles. The most popular roles in the music industry are generally the lowest paid, with base salaries at major #labels, indie labels, talent agencies, #artistmanagement companies, and publishers all average £60K or below. Proximity to artists is costly, with country-specific/domestic roles having the strongest #relationships with artists. Central/global roles are often more corporate, with a median average increase of 18% in base pay. Only three types of companies had a median salary exceeding £80K, all tech, and their functionality relies on #technology and scale. Distributors are an interesting middle ground, balancing between tech and traditional #music industries with a median base salary of 64K GBP. #Men make more money on average in their median base salary than people of color and gender minorities make in their total #compensation. However, they are still underpaid even in similar roles. People not working in major music markets have a median income 20% higher than those not living in those markets. Those reporting in USD make almost double in base salary than those reporting in #EUR & #GBP. Those with external income bring in an average of 6K annually, which can soften the blow of a lay-off and lend itself to shifting to a full-time #focus should the need arise. What you receive from each company can differ widely, with free services, physical items, and #hybridwork being the most common perks. In conclusion, #salarytransparency is essential for music executives to navigate the music industry and find the best #opportunities for #growth and #fulfillment.

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