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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Proud to support Christine Osazuwa in the salary transparency project. Thanks Music Ally for the coverage. Lots of interesting insights for those in the music industry or music and tech at every stage of their career. 'We feel executives often lack the professional and personal support they need to prosper in their careers and we hope to help address that. We want to explore even more and identify tangible solutions to some of the issues that we know face music executives. Things that we didn’t explore, that we hope to in the future, is number of hours worked, treatment of parents, the interview/hiring process in music, professional development, and much more.' https://lnkd.in/eh-WjY2S
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#JobLoss #CareerTransition #Freelancing #PayCut #FinancialStruggles Hey everyone, I’ve been having a tough time lately. After being laid off twice this year due to company layoffs and restructuring, I'm facing a daunting 40-50% pay cut. 😞 It’s rough out there! I wanted to share my experience and hear your thoughts. Just to give you some context: 🔄 My first layoff was post-merger, with me being labeled “too expensive.” The company had long been struggling financially and is still trimming their workforce every quarter. 🚪 The second layoff happened in early November, when they brought me onboard for specific projects that ended up not materializing. 🤔 During my last interview, a C-Suite exec asked if I’d consider a freelance role instead of a full-time one. It felt like she was questioning my work ethic, assuming I wasn’t performing well simply because I was laid off. Now, I’ve got two potential offers lined up: one a part-time freelance gig and the other a freelance t... How Can I Overcome a 50% Pay Cut After Multiple Layoffs? Answers: https://lnkd.in/gn5ECP5d Let's Connect! Have you faced similar challenges? Share your insights and experiences....
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This is getting super interesting! Talk about assumptions being broken. I started a poll about part-time work in Nordic countries. With many layoffs I assumed that there would also be an increase in part-time jobs, converted from previously full-time. But initial poll results don’t show that. At the time I am writing this: There’s an even split between those who work part-time: 🔸 as their preference, or 🔸 not necessarily as their first choice, but that was the type of job offered originally. 📌 In the meantime, those whose hours have been reduced by the employer, amount only to 5% of votes. Which, to be exact, is 2 votes. Besides this update, I wanted to clarify: 👉 Employer reduced hours means initiation from their side, not that employee wanted to reduce the workload. ❓ Should we take it as good news? P.S. The poll is still open. Please go vote so we get a better understanding of reasons why people work part-time. Link in the comments. ----- Hi, I'm Vaida 👋 For Nordic labour market and Human-Centric Hiring, Follow, connect, click 🔔
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If your old salary fully remote is "X", and your new potential salary at a hybrid/in office role is also "X", then you'd actually be financially worse off because of your travel cost which equal "Y" So if you're negotiating for salary right now AND are in the position where you feel there is wriggle room, add Y to X so you can at least break even. That figure should now be your "floor" in salary negotiations. The above sounds and feels obvious, but after explaining to a couple of people on calls, they just hadn't considered it yet. Probably due to the absolute onslaught of the industry, external stressors and everything else going on. That's why I'm glad to be a middle person in the process. Cover all the bases so people don't have to fret. I fully appreciate not everyone is in the position to be in a negotiation, and may not have the circumstances to allow them push for things in those conversations due to survivability/competition. I hope this can at least help in the future if that is the case. #JobSeeking #Layoffs #VideoGames #ComputerGames #GameJobs
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Everybody’s hiring, but somehow most people are still unemployed… It’s like the job market is a giant game of musical chairs except the music never stops and the chairs are all taken. 🤔 Anyone else feel like they’re stuck in the loop? #JobMarket #CareerChallenges #JobSearchStruggles #WorkforceWoes #JobHunt #EmploymentPuzzle #CareerConundrum #JobMarketShift
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2023 brought budget cuts, layoffs, and established agencies to shut down. Now high salaried managers have a target on their back. My question is… What could this mean for the state of agencies? -Is the market course correcting over-bloated agencies? -Is AI takin’ their jerbs?! -Is there a flood of talent, freelancers, and small agencies undercutting prices? It’s reported that new agencies are opening at a rate of nearly 16% each year. This tells me the agency space is getting crowded with lesser experienced talent. OR - The high-level, laid off talent is diving into agency ownership themselves. Probably a combo of both. To all my friends who have been laid off - you have the power of hindsight. You saw all the flaws of the agency you were in. Use that insight to fail proof your own operations. And to all my friends diving into agency ownership for the first time.. Make friends with people who earned hindsight! 😁
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2024: Record Labels Hit Mute on Jobs… But Advertising is Turning Up the Volume 🎵📉➡️📢 Not my usual recruiting post, but let’s talk about the music industry layoffs—and why now is the perfect time to pivot. Major record labels spent 2024 cutting jobs, restructuring, and rethinking their talent strategies. Streaming dominates, AI disrupts, and labels are getting leaner. But here’s the thing: the skills that made you successful in music are gold in advertising. 🎧 Creative minds? Needed. Brands crave the same storytelling, audience engagement, and trend-spotting that power the music industry. 📊 Marketing pros? In demand. If you understand branding, digital campaigns, or influencer marketing, agencies are hiring yesterday. 🤝 Industry connectors? Huge value. Those artist, label, and partnership skills translate perfectly to ad world client relations. The record label world may be shrinking, but ad agencies are expanding—and they want fresh talent. If you’ve been laid off, this isn’t a setback, it’s a sector switch. 🎶➡️📢 And if you're a hiring manager looking to gain some talent with these qualifications, you now know the perfect person to connect with... Who's made the jump already? Let’s hear your stories. 👇 #MusicIndustry #AdvertisingCareers #Layoffs #CareerPivot
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It's Money Monday$ here again at Unmarked Street! This week, Rachel is talking all about the cost of hiring top talent into your apparel brand, whether you're a big company, a small start-up or anything in between! Learn what the latest salary rates are vs. hiring freelancers or contractors. And when you're ready to keep on listening to Part 2 of this video, head over to our business page at Unmarked Street for the rest. #money #fashion
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If you’re struggling to find work - stop blaming yourself. Somebody asked me recently to have a look at their CV, to see if I could suggest any changes to it. They’ve been struggling to find work and wondered if perhaps their CV wasn’t up to scratch. I looked. Their CV was absolutely fine and any rewriting of it would have been rewriting for its own sake (which in itself isn’t a bad idea but wasn’t what they were asking). I’d like to say to you - those of you struggling to find work right now - exactly the same thing I said to them. The same thing my wife says to me when I get down on myself. It’s not you - it’s the market. It’s just how it is right now. There are many, many good people out of work. There are studios shut down, studios with canned projects. There are outsource companies and work for hire studios wondering if they’ll survive, let alone being able to take on new people. If you’re blaming yourself, stop. It’s just how it is, we’re just at one of those points in history where it’s all a bit shit. You know what, though? It’ll get better. Cliches abound - rock bottom before you climb up, darkest before the dawn and all that. They’re true, though: we have to believe things will get better because what’s the alternative? Hang on in there. I know it’s hard, but do it anyway. Really, what choice do we have other than to see this through? I’m rooting for each and every single one of you just as much as I’m rooting for myself. #layoffs #motivation #gamesindustry #videogames
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Studio layoff got me. July 31st is my last day employed by Walt Disney Studios. I am free for project work immediately. Kinda sad, as Disney is unquestionably the best employer that I have EVER worked for bar none. Second time working at Disney also ended too soon. Sorry that I did not get to bring more of you to the parks or events; I still had quite a list of friends that I wanted to take & friends who I had brought but wanted to do it again/some more. Everyone that I took to Disneyland or California Adventure: we had a blast with and we want to do it again (and again, and again). Oh well. Disney like all movie studios is a cyclical business; there is a sine wave of Capital Expenditures, followed by a trough in Cap-Ex. So the trough will last for a while maybe longer, so who knows if that means that I will EVER get a return ticket? Very open to a return there but also eager to try a new adventure or adventures. What creates job satisfaction? Overcoming challenges; Whether that is a money-is-no-object high end employer/client (like Disney) or a low end equipment for a non-profit or university where we try to eke out professional results out of low end equipment that is borderline trying NOT to perform as it should; fun and satisfaction exists on both ends of the spectrum & everywhere in-between. Problem solving, inventing & innovating are addictions and I need more. During this time: I will be available for freelance, daily, or project based work. This is the time to bring me your worst impossible problems; because I wont be out of work for long. Some of my past clients would hire me immediately; but I will be increasing my rates so I am reluctant to go back to the past clients with my new hourly rates. I have 2 paths: IATSE union has sporadic daily work that can lead to permanent placement. Union wages are as of Aug 1 2024 (if the ATPMP & IATSE contract is accepted) over $60 per hour. (Today still $56.80 per hour but only for the next 30 days) Finding weekly placement from IATSE can take longer and there may be more of a roller coaster. Non-union there are literally dozens of non-union jobs open for my skills right now. Few non-union shops pay as well as the union, and none have benefits that compare; but for the right place, I might even accept a cut in pay. So the new adventure begins of exploring new adventures. Will be doing the IATSE daily freelance thing for a while and dipping my toes into a few pools. Willing to consider or interview with non-union employers but will be a bit selective outside of IATSE. At this time will not consider daily. freelance, or permanent roles paying below $50 per hour; will see how things evolve or if that changes. If you have a problem that you need solved: this is the time to get it done. Have a problem? Everyone says that it is not possible to solve? Bring me in Let's Brainstorm options Get results. "Whatever you can imagine, we can do". "It is rather fun to do the impossible" -Walt Disney
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