On Friday I had the pleasure of taking part in a panel discussion with graduate students from Northwestern University’s Masters of Science in Communication program. The topics covered included: career paths, job search and the effects of the current economy for recent graduates.

Here are a few of the insights that I gathered and shared with them:

 Masters of Communications vs. MBAs:

We ran a quick pool of several senior level marketing and communications professionals to get their take on the value of a Masters of Communications.  As of today 51 have responded. Nearly 50% said it gave a professional a leg up or was “a must”.  Only 17% said other degrees are better.  The poll is still live. Feel free to participate and check out the results: Poll

Compensation:

One of the trends we are seeing is a polarization of compensation. The top 10% of earners within marketing and communications make at least 50% more income than the average earnings of the bottom 90%.  An article in Marketing Week from the UK gives a global view of this trend: ‘A New Age of Austerity Hits Pay Packets Hard‘

 Where the Money is: 

• US owned companies compensate these Marketing and Communications roles better than their European counterparts.
• Digital natives (those who have worked within online marketing from the beginning of their careers) earn a significant premium in compensation.
• High performing employees may be in a great position to negotiate. 70% of companies reported that they were concerned that these high performing employees may leave.

The Economy

Yes, the economy is difficult. But the anxiety caused by high unemployment numbers is often worsened by media oversaturation. The staggering numbers (8.4 Millions jobs lost since the recession began – Bureau of Labor Statistics) do not provide a  perspective on how communication  professionals will be effected. While white collar workers did experience some of the wrath of the poor economy, they were not affected to the same degree as those without a bachelor’s degree. Bureau of Labor Statistics Education Pays Graph.

 On the bright side:

• The Unemployment rate recently fell to under 10%.
• In January there were 5.9 job seekers on average competing for each job -  a significant decrease from the pervious month
• There were 2.5 million job openings in December 2009- a significant increase from November
• Even with 14.8 million people out of work, there are an estimated 137 million employed.
• A Towers Watson survey released Dec. 2009 states that the number of polled companies that plan to freeze or reduce hiring dropped by half to just 33%. Click here to see the Study
• Marketing, creative and communications professions make up only a very small percentage of the total work force and unemployment rates among those ranks are generally much less than the national averages.
• In surveying the January job postings for Communications roles several groups were up. For example- Internal Communications increased 9%, Communications Managers increased by 10%.

So take a deep breath and start regrouping for the big surge ahead that will surely follow this economic turmoil.  It is time to get back to the hard work – figuring out what you are truly passionate about. Trying to guess the direction of the market, following the hot industries of the moment will never create the foolproof career plan. Being passionate about your chosen path will make you more attractive to employers regardless of which way the current trends are blowing.

Employee vs. Contractor

Temporary employment is becoming the new norm. As companies remain fiscally conservative and credit strapped, they are reluctant to bring on a permanent head count. Marketing, creative and communications departments have had experience with this model for years. This will continue to be a growing trend into 2010 and potentially far beyond. From junior assistants and mid-level specialists to the most senior level strategic directors – contract vs. employee is an important part of the mix. Check out two articles on the subject:

‘Temporary CMOs are Here to Stay – for Six Months or So’ - Brandweek

‘Recruiters See Jobs Pickup in 2010 Despite Concerns’ – Wall Street Journal

As always, I came away from the panel discussion super charged. The talent, dedication, drive and passion these professionals have reminded me why I love this field so much- a big Thank You to the school for inviting Paladin to participate.

Paladin is pleased to announce our 2009-2010 Sponsorship with the Chicago chapter of IABC (International Association of Business Communications). IABC/Chicago chapter is for professional communicators in industries such as public relations, employee communications, community relations, graphic design, marketing, media production, and much more. The chapter is focused on business development and networking. Visit their site and become a member today. Check out the calendar of the events for the year and be on the look out for our Paladin team at events. We look forward to an exciting year!

http://www.iabcchicago.com/events/index.htm

Whether you are a frequent Twitter user or not, you most likely caught wind of the new Twitter trend known as “Twitter Lists.” It recently launched and I’ve already found it useful for personal use as well as for Paladin. A Twitter List is a new way of categorizing the people you follow and their tweets by your own preference.

Over the past few months, I have helped oversee the social media networks for Paladin with most of my focus on Twitter, Facebook, and LinkedIn. I find Twitter to be useful as a quick, interactive site to connect with our candidates and clients. The Twitter Lists now help us organize tweets from candidates, clients, marketing/creative/communiations associations, publications, news, events, etc.

Are you ready to create a Twitter List? Well, do you follow someone, but they are often overwhelming your home page and keep you from noticing other updates? Do you follow a variety of tweeters, such as celebrities, news, and job search firms? Are you ready for more organization within Twitter? If so, it’s time to get started! So…how do you create a Twitter List? I’ve listed a simple version, but if you are a visual learner, like me, the website below will give you detailed version: http://tinyurl.com/yjkle2n

1. Click “create a list,” a dialog box should pop up on your screen
2. Name the list to a category you want your followers to fall under
3. Search and start following tweeters under your list
4. Another way to search is to go through your followers’ profiles and click the button on the right labeled “manage lists” and add to your specific list (this option also allows to create a list in case you think of something on the spot!)

Twitter will give you the option of making the Lists private or public. If a List is public, you can follow other tweeters’ Lists and groupings.

Will this make Twitter more confusing? We don’t think so, in fact it makes Twitter more friendly and organized. The guys behind Twitter are predicting it will increase the number of new users. Twitter also promises the the roll out of List descriptions within the next week so public lists are easier to understand and, in turn, create more followers.

Let us know if you have created a Twitter List. Why did you decide to create a list and has it been helpful? @PaladinStaff has already been added on others’ Lists under the labels such as career, HR recruiting, work, etc. We also have started our own Twitter Lists to help us categorize marketing, creative and communication news/updates. Follow our Lists and let us know what you think.

@PaladinStaff/marketing

@PaladinStaff/creative

@PaladinStaff/communications

Last week I was fortunate enough to be asked to speak at the first Chicago Social Media Breakfast. SMB has been in existence in other cities since 2007 but this was the first one in here in the Windy City. The event was separated into different groups with specific topics to discuss. My group was focused on social media and personal branding in regards to the job search and career advancement.

As marketers we are seeing a wholesale change in how companies engage in communication with their clients and consumers. In addition, the ways we as individuals communicate are also changing dramatically. I think for the most part marketers (especially in the last year) are really starting to grasp the enormous changes going on within their space.

What has continued to be a struggle for people is telling the difference between “blowing your horn” in regards to your talents/expertise and “communicating your passion” to a wider audience than your existing personal/professional network. The ability to help people and in turn receive recommendation has never been more important.  It’s a very organic way of self development which also can help you gain recognition and ultimately a new job, a promotion or new business for your organization.

My Top 5 Takeaways from our group discussions were:

1)      “The golden rule” treat others the way you would like to be treated. This will ultimately be something that will come back around to you.

2)      When networking on LinkedIn or other sites don’t “ask for a job” use the tools available to create awareness for your expertise to gain a larger network of targeted individuals for potential career placement and/or advancement.

3)      Use social media to create an integrated marketing campaign around a helpful blog post you have written (become a resource). This is a post I wrote describing an initiative I created here at Paladin: 

       Paladins Marketing Ninja guide: The 30 Minute Challenge

4)      Don’t close yourself off to just blogging, Facebook, Twitter and LinkedIn. One of the attendee’s was discussing his use of Tumblr something I am going to attempt to utilize.

5)      Nothing replaces face to face contact. Definitely get out from behind your computer and regularly get out to coffee meetings, association evening events and luncheons. This is a post I wrote regarding networking events in Chicago: Paladins Galaxy Guide to Networking in Chicago

 We are all hearing the constant chatter (no pun intended) around social media. Some of the discussions are valid and some of are based upon lack of understanding and experience. My recommendation is to continue to share openly with each other and pay it forward. It’s a great community we have here in Chicago and I’m excited to attend future Social Media Breakfast’s!