Journalism jobs and salaries
July 7, 2008 in industry news
Mindy McAdams posts a pointed reminder, in case you needed one, that people shouldn’t go into journalism for the money (complete with a nice graphic). #
She also notes the financial troubles of the newspaper industry: #
The newspaper business is in deep financial trouble right now — jobs are being eliminated continually. But there are still jobs out there for journalists with certain skills. You need to be savvy about what the jobs are, what the work entails. #Personally, I find it hard to get worked up about the deep financial trouble business, if only because most newspapers are still profitable. The “deep financial trouble” part is because they aren’t spitting out the same 20-30 percent profit margins Wall Street has been accustomed to. Layoffs and the assorted chicanery that newspaper execs have been rolling out over the past few years only make me angry at short-sighted management. #
You want deep financial trouble, ask the airline industry, or General Motors, or Bear Stearns. #
Bryan:
Welcome back to the grid. I think this time it really is deep financial trouble. Companies like mine, MediaNews, and Zell's Tribune, have taken on a crushing amount of debt. That have been rumors that we're in the red and are at risk of default, which would trigger a host of nasty remedies.
Zell is likely going to have to whack quite a bit more than already announced to make sure his cash flow remains manageable.
Still, I agree with the overall point: Bad management and ownership decisions have led us to this point.
To be honest (and I'm somewhat ashamed to admit this), the poor salary and the tough uphill battle to be successful in this industry are what stopped me from pursuing it. I was an English major in college with a deep love of writing and dreams of becoming an author. Suddenly, the practical side took over and now I'm a management consultant. Definitely not as sexy as writing.
The industry is suffering from poor management, yes, but it is also suffering from a changing climate. Many people turn to the web and alternate media to get information – and those sources often do not include magazines or newspapers (even electronic ones). There is a future for journalism, to be sure, but we need to figure out exactly in what form.