PR Firms Holding Their Own, for Now

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U.S. PR firms seem to be doing well despite uncertain economic times, at least for now. The annual Best Practices Benchmarking Survey by StevensGouldPincus showed that while the industry didn't match its 22% growth of 2006, in 2007 they still managed a 19.7% average profit.The survey found "a remarkable average of $221,388 per professional in annual billings and a huge jump in average monthly fee minimums to $14,000 from $10,000 one year earlier. "But other indications in the survey might point to leaner times ahead. Billable hours as well as account managers' salaries and bonuses were flat, and overhead costs were starting to rise. Total labor costs rose 1% over the previous year.