Good news and bad news for PR firms in a new benchmarking study. Let’s start with the good news: Billing rates are up across the board, according to a survey of 104 PR agencies by the consulting firm StevensGouldPincus.
Here’s the breakdown:
- $513 per hour is the average billing rate for CEOs of agencies with more than $25 million in revenue, up from $509 the previous year;
- $291 per hour is the average billing rate among smaller agencies, a boost from $286 in 2009;
- $261 per hour is the average billing rate among agency vice presidents, up from $241 the previous year.