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The New York employment market is going to be very different in 2023 from what it was in 202...
The New York employment market is going to be very different in 2023 from what it was in 2022. The quality of skill sets is becoming more and more important to employers. Organizations are re-focusing their hiring efforts on the expertise of communications efforts rather than the number of communications professionals they’re hiring.
So, what should New York-based businesses be doing to recruit and keep top communications talent in the city?
In the past two years, both the working environment and job market in New York have seen major changes. As firms prioritized securing the best communications talent in 2022, candidates experienced everything from specialty sign-on bonuses to inflated salary offers.
This is all starting to change. The hiring rate in the US has decreased by 13% between September 2021 and September 2022, meaning that we’re finally seeing the labor market stabilizing. In 2023, we expect that this adjustment will begin to level out salaries.
New York employers should take some time at the beginning of the year to review their employment tactics considering the numerous changes that they face in 2023. Organizations should plan and prioritize their hiring for the year and set out budgets accordingly. This will be crucial to building successful communications and marketing teams.
Our communications salary guide covers bonuses and permanent salary brackets for a wide range of communications roles, from PR Associate all the way through to VP of Communications.
For more customized advice about your organization’s communications needs, get in touch with Oliver Amos our expert communications employment consultant. You can contact him at firstname.lastname@example.org
Although salaries and compensation aren’t the sole determining factor for communications specialists seeking a change in career, it’s growing more significant given the current economic climate. Therefore, a lot of communications professionals are reassessing their existing salary, considering the possibility of a pay rise and/or bonus, and, if they don’t get the income they require, searching for new opportunities.
New York organizations will now need to constantly monitor salary fluctuations throughout the market as a result of the enactment of the Salary Transparency Law. Personnel may now easily access salary information, making it simpler for them to determine whether they are being underpaid. As a result, it’s more crucial than ever for New York companies to regularly compare pay across all roles in order to keep current employees and beat out the competition for new ones.
Looking for more advice about attracting, retaining and recruiting top marketing and product talent in 2023, check out our full report, “How to Hire in New York: What marketing and recruitment will look like in 2023”.
The full report intends to assist New York organizations with their 2023 employment plans across every digital skill set, from digital marketing to social media & content, from demand generation marketing to product management. This report includes everything from the skill sets that employers should be prioritizing, to the compensation packages that New York employers should offer in order to attract and retain marketing and product talent.