How to Earn More Money in Corporate Communications (Part 1)

The authority on mixternal comms

“Money” by Mel Bochner

For all the talking and blogging and webinaring about how to grow our comms careers or how to make that all-important impact or how to achieve work-life balance, how to make more money in comms is ignored. No mas.

• We enjoy our work (most of the time). Recognition from the boss, a fancy new title, being promoted to a people manager, an all-expenses paid trip to Chicago for a conference—all rewarding in one way or another. But I’ll take a bump in my base pay over a pat on the back any day. You too?

This article is about how to make more money for doing something that sucks up a third of your life.

• Generic career advice like volunteering for stretch projects; learning new skills; signing up for LinkedIn learning courses; and expanding your network usually don’t translate to big bonuses or salary bumps.

• Frankly, comms pros take on skills and projects beyond our traditional scope of work (e.g., IT software analysis, infographic design, event planning, audio production) just by showing up. Have the add-ons meaningfully increased your salary? Rather, the extra efforts likely stretch you thin and burn you out.

• Very little to nothing has been written on this topic. Google “how do I make more money in my communications career” and see what you get.

So I’m sharing four specific ways you can earn more money in your comms career.

• And no, “following your passion” is not one of them. 🙄

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detail of “Money” by Mel Bochner

🍿 This article is broken down into the following sections:

Part 1:

• A little bit about me and where I get off giving this kind of advice

• Caveats galore

• The first two ways you can make more money in communications

Part 2:

• The next two ways to make more money in comms

Part 3:

• Showing a hypothetical scenario where comms pro Maria, who makes $103,000 in annual income in 2023, doubles her income by following these steps.

• Wrap it all up and inspire you to become a comms millionaire. (For real!)

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The Value of a Dollar

Home

I grew up in a small town surrounded by cornfields and despair. The first house my family lived in, a rental, was so decrepit the landlord had it demolished. My parents, younger sister, and I then moved to a place I call home (above). Long after I left town my parents sold the house for $13,000…for a profit. Suffice it to say, we didn’t have much.

My parents never made more than $40k combined. During my senior year in high school I distinctly remember telling my friend Nick that, eventually, I wanted to make at least $50,000 in salary, because that would mean that I had done better than my parents and therefore had “succeeded.”

• I’ve been working nonstop for 31 years, first as a paper boy (age 13) and straight through high school, college, a few lost years, grad school, and now, unbelievably, in the semiconductor industry. I’m the only person in my family to go to college.

• Mom always taught me that nobody owed me anything and that if I wanted anything I’d have to work for it.

• I choke back tears every time I get a raise or a bonus. (Ask my boss.)

I’m telling you this so that you understand that I know how difficult it is to make money when you don’t come from money. I’ve earned every dollar through a combination of grit, luck, and humility.¹

• I appreciate the value of a dollar because I come from a paycheck-to-paycheck family.

• I understand the value of a dollar because I’ve taken the time to teach myself.

• If you come from a similar background, you too can achieve financial success in our industry.

My annual income has quintupled since 2009, the year I got my first salaried job. Over the past ~five years alone my income has doubled,² attributable to the elements listed above (grit, luck, humility) and the four methods described in this series. I am, by many measures, successful.

Readers have told me that money isn’t the most important thing and I completely agree. But I have never heard anyone decline a pay raise or say “I wish I got paid less to do this job” or “If I won the $10 million lottery I would do corporate comms for free.” Please.

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Caveats Galore

• This essay focuses on income from your comms career. There are other ways to increase your income, such as through savvy stock investing, owning rental property, running laundromats on the side, cat sitting, and on and on endlessly.

• This is not financial advice and I am not a financial advisor. I share ways to increase your income, not how to save or spend the money you make.

• You don’t need to do all four steps to increase your income, as any single one of them will help, but I recommend doing as many of the four as you can.

• As with all things around wealth creation, the earlier you start, the better.

• Even if you’re closer to retirement than the start of your career, you can still act on some or all of these methods to slingshot yourself into post-corporate bliss.

• The advice applies to most readers. A small percentage of Mister Editorial’s subscribers, like directors and heads of programs, already make a lot of money. Nevertheless, high-income earners should find a valuable nugget or two.

• Consultants who work for an agency (as opposed to those who own the agency³) could follow this advice. I’m not sure how much money consultants can make because I’ve only been one for a hot minute. I am sure that the better you are at comms, the more you can earn as a consultant, and so methods 3 and 4 apply to those aiming for the consultant's life.

• Readers who work at one of our industry’s SaaS companies have a leg up already, especially with the advantage outlined in step 2. The other steps still apply to this cohort.

• The examples and salary/income figures are U.S.-centric, but the principles apply across the globe. For readers based beyond Amerika, I appreciate you doing the mental calculations and substitutions.

None of my suggestions are easy.

• Doubling or tripling your income doesn’t happen overnight.

• 🧮 Throughout this essay keep your own salary/income in mind as I toss out averages and scenarios. Now’s a good time to open your phone’s calculator app.

Without further ado, here are four specific ways to increase your comms salary.

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😖 @Free subscribers who just hit the paywall: Just below the ad 👇 I provide four specific ways to make more money in your comms career. On average, step number one alone could net you a 10-15% increase in your paycheck.

• If a 10%+ pay increase covers the $164.99/annual subscription to Mister Editorial, then please become a member here.

@Paid members, keep on scrolling to keep on earning 💸.