HBG Raises Starting Salaries to $47,500
Hachette Book Group will increase its entry-level starting salary in New York City and other "high-cost office locations" to $47,500. The previous starting salary was $45,000—a base rate maintained by its competitors, HarperCollins and Penguin Random House. (Simon & Schuster's base salary rate is $50,000, while Macmillan's is $42,000.)
"In response to an extensive review of compensation across our functions and locations, Hachette Book Group will increase its starting salary in New York and other high-cost office locations to $47,500, with corresponding increases in other locations," said the publisher in a statement. "We will adjust salaries at adjacent compensation levels, as we always do, to address salary compression."