In 1983, my first job after graduating from college paid $21k. In 2022 dollars, that's nearly $60k. It's 2022, TV News MMJs & Reporters are making $30k and can't afford gas or food at 1983 prices. These are my thoughts ...

I think that individually we are not going to change the forces driving declining compensation because they are outside the scope of our control. Issues like declining ad revenues, rising operating expenses, increased cost of content, acquisitions and mergers, and the never ending supply of what NDs call 'Young Hot and Cheap', the less tenured and less expensive talent.

These issues are the result of massive channel disruption; shifting audience demographics (the pig has just about moved through the python and there is nothing to replace it), changes in content consumption, and highly segmented and differentiated content.

Next, we'll leverage industry knowledge and influential connections to offer pragmatic solutions to young and mid-career journalists so they can reach positions of greater responsibility but also greater earning potential. We will do this both inside the Broadcast TV News and Entertainment industry and externally.

The first article I wrote on this subject focused on jobs, content you could create, and the channels in which to distribute it. In this 2022 update, the focus shifts to changes in professional behavior and strategy to differentiate yourself from the pack resulting in greater earning potential

Here are the four things I believe are critical to earning, and keeping, more money in your multimedia career:

1. Staying Current and Visible
2. Creating a Compelling Brand
3. Positioning Your Brand
4. Be Determined and Intentional

Staying Current and Visible:

Our careers are VERY fluid and not linear. There are so many things we can't control and fail to prepare for. When the unforeseen happens, like we get laid off, we start to scramble to assemble reels, resumes, and engage our network via social media outlets, email, and text messages. Many times as you are escorted out of the building you lose access to content that is absolutely critical to building a compelling reel. 

You need to make sure that your career toolkit is up to date and readily accessible at all times. I watch in amazement when professionals accept a new role and literally put their career to sleep. They post the obligatory "look at me" social media photos, accept the accolades, and then fail to update their resumes and reels until the grim reaper shows up on their doorstep.

It's important that you stay visible and current with your professional networks and social media platforms. I think people do a reasonable job with associations like NABJ or NAHJ but are abysmal when it comes to their larger networks like LinkedIn and our new platform TalentBlvd.com. You need to stay relevant in your network and these social platform are the best tools you have to do that and they are FREE. 

The TalentBlvd.com platform isn't thinking small either. In the first year the network went from 17 talent profiles to 550 and from 0 News Directors to over 200. Those News Directors are on the platform to hire people NOW and offering above average compensation packages. I wish I could go into detail of the reports coming from NDs and Recruiters about journalists that won't spend 30 seconds to update their profiles. Listen, it's reputational and that translates into greater opportunities and potentially greater earning potential.

Creating a Compelling Brand:

Differentiation is key when it comes to branding. The more you can distinguish yourself from the pack, the better the chance you'll be able to demand greater compensation. Branding is definitely more an art than a science but the approach does require a bit of structure and process to get started. In the context of differentiating yourself from others in the field, build out three things that apply to YOU and then identify the intersection of them. Specifically;

1. What are your passions and skills? What is in that makes you passionate about what you do and what skills are associated with your passion?
2. How are you adding value and different than your peers related to your passions/skills? Are you crushing breaking news or your human interest packages or voice overs?
3. Who is your audience or clients? Who are the people most interested in your differentiated passions/skills?

In this example, by differentiating yourself as someone that thrives bringing live breaking news hits to life, you can set yourself apart from general interest reporting and potentially demand higher compensation. Be careful however, the demand and size of the potential marketplace will play a significant role in determining salary. Breaking news in Chicago is a whole lot different than breaking news in Nashville or Orlando.

Positioning Your Brand:

Once you've crafted what your personal brand looks like, it's time to go to market. For the purpose of this article and simplicity of examples, we can focus on social media outlets and professional platforms. Your brand messaging should be:

• Relevant to the audience.
• Topical and timely.
• Demonstrate perspective.

Make sure that your social media posts, comments, reels, and content reflect and support your brand. A steady flow of bikini and booze photos with girlfriends works great if you are focused on social influencing but could question your level of professionalism if you are a Wall Street reporter.

I might question the use of Tik Tok and IG reels especially. How many dancing weather people is too many and when does the audience question your meteorology skills? When a hurricane or thunderstorm is bearing down on people do they turn to the 'dancing weatherman' or Jim Cantore? Both are brands but positioned completely different. The dancing weatherman is very differentiated and a masterful brand but understand that there is limited crossover once you run with that differentiated positioning. It's not wrong, it's actually very right, but understand the audience. That audience will drive your potential earning power!

Be Determined and Intentional:

Success, and ultimately the ability to accumulate wealth, can usually be pointed back to the individual's determination to succeed. Determination is really tough to define. Is it grit? How about perseverance? For the purpose of a career development discussion I'm going to define determination as three things; Wise Up, Grow Up, and Look Up.

Wise Up:

You need to be smart and savvy. Short term decisions can have very long term implications. If you are asked to sign a professional contract such as an employment or talent agency contract, you had better understand you need to live within the terms of that agreement BEFORE you sign it. At least 50% of the calls I get from disgruntled journalists are the result of their dissatisfaction with a current contract. 

Contracts are assignable. Your boss leaves or your agent quits, it's the next man/woman up that owns your contract. You are signing with a company, not an individual person.

Contracts auto-renew. You may or may not have a window to get out of a contract, don't fall asleep on it or you'll be responsible for the next term.

Be smart, if you are asked to give up something like a signature on a contract, what are you getting in return? Wise people know the best agreements are when the 'gives' and 'gets' align. Never try to negotiate anything without data.

Grow Up:

Look, nothing makes me run faster from a business or professional relationship than people that struggle with 'adulting'. Serious, if you are struggling with the rigors of being an adult, why am I going to pay you tens of thousands of dollars to work in my business?

Social media is the biggest source of the problems related to the perception of your professionalism. We are all guilty of it, me included. We need to resist the impulsiveness and comparisons that are driving our use of social media. Perception is reality and managing perception in your social media feeds is key. Stop embarrassing your dog with your social media posts. 

Look Up:

We should be looking up toward the people consider role models and emulate them in our ultimate career goals. Look at the things that differentiate your role models and break them out into themes that you can digest. Themes/attributes like attire, vocabulary, presence, social media, relationships, hobbies, interests, etc.

Gretzky said it best "skate to where the puck is going to be, not where it's been". Where do you want YOUR puck to be and start skating toward it. Those that play hockey know that you always do this 'looking up' because looking behind you or even down can have devastating results and you wake up with fewer teeth and a new nose.

In summary, the best way to change the reality of YOUR pay in the industry today is to begin to 'Level Up' in terms of your differentiated skills, positioning of your brand, and finally, your level of maturity and professionalism. By making intelligent decisions about your future you'll be managing the things you CAN control and put yourself in the top 10 percent of the industry's market compensation range.  

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