So like everyone else, one of my first reactions to the news that award show magician Tony Granger was taking over the CCO job at Y&R was "Damn, they must be paying him zillions."
But upon reflection, it hit me that they're probably paying him around $2-3 million a year, which is likely the pinnacle of creative salaries. Which is what numerous not-very-impressive 20 and 30something Wall Streeters make come bonus time. And what numerous writer/producers of network TV shows can make in just one season. And what numerous engineers and other mid-level employees of hot 2.0 shops walk away with in stock options.
Like the title says, it just gives all those late nights a little perspective. But more importantly, it tells me how undervalued our contributions are -- not just us creatives, but the industry in general. Now that we've lost the 15% commission, we need to find a better way to get remunerated for our ideas. Because that's our real contribution and it's not a minor one. We provide real value and benefit to our clients and we need to find a fair and equitable way to monetize it.
Maybe those Hollywood writers are on to something.