Penske Media Compensation FAQ

Read what Penske Media employees think about their compensation at the company.

Penske Media has a compensation and benefits rating of 3.9. If you want to know how much Penske Media employees make, head to their Salaries page to see a list of salaries per occupation, along with bonuses.

All answers shown come directly from Penske Media Reviews and are not edited or altered.

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2 English questions out of 2

February 24, 2021

What is the salary like at Penske Media?

Pros

- My salary is great, benefits are competitive. - I had the freedom to go completely remote after being there about a year. PMC has employees all over the world with two main offices in NYC and LA and are very flexible about moving. - PMC is diverse and getting more diverse. they have the highest number of women in leadership roles I've ever seen at any company. I am hispanic and there is a larger-than-many-companies share of minority groups here. They are actively trying to up that number with qualified candidates as well. -Retention is good, and during the pandemic they didn't do any layoffs or pay cuts. They actually raised everyone below 50k up to 50k and I personally got my yearly scheduled raise. -PMC owns a lot of cool brands: Rolling Stone, Variety, Billboard to name a few. -Big focus on mental health. - I like the executive staff.

Cons

-Depending on which brand you work on, you can end up becoming isolated from the company at large. The brand I work with has a very different culture than the company at large and while I love PMC, being siloed in this brand might result in me leaving the company when I otherwise wouldn't have. -They can be a little too stingy with resources sometimes. I recognize that its a balancing act between profitability and spending. It's one thing to ask someone to do the job of two people (which they often do), I've seen people doing the work of 3-4 people. -With some of these brands the deadlines can be insane and with the lack of resources it can be a lot of pressure and burnout. So while they focus on the mental health, there are contradictory messages at times.

Advice to Management

Engineering should be more generically PMC, avoid siloing people to one brand. And IF you absolutely have to silo people to one brand, take the time to ensure that the culture and values of that brand line up with PMC's culture and values. Couple bad culture with low resourced teams and longevity will suffer and much of the work you do to improve the overall culture will be wasted.

Retention is good, and during the pandemic they didn't do any layoffs or pay cuts.

February 24, 2021

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February 8, 2019

What are pay increases like at Penske Media?

Pros

- Good location in LA with a nice physical work environment (open floor plan, shared kitchen and dining area, comfortable fish bowl conference rooms).

Cons

- PMC appears to be a company that doesn't value or invest in its employees in any meaningful way - Salary is low across the board and as a hiring manager, I saw the company consistently low-ball candidates or hire more junior positions than needed to save money - No matching 401K offered to employees - Minimal paid time off. In fact, the company combines sick days and vacation into a single PTO pool of hours, so if you get the flu and have to take off, you get fewer vacation days that year. The PTO total is pretty low to begin with, so it's difficult to accrue enough vacation even after 2 years to take a simple vacation that lasts more than a couple of days. - There is no performance evaluation program - no annual review, no career progression, no mentoring or coaching. - There is no program in place to give annual raises, bonuses, or rewards of any kind. On my team, no one had received a single raise of any kind in over 2 years. - Managers get no training or guidelines on how to manage their direct reports. There isn't even a requirement for managers to ever meet with their direct reports, ever. Most other companies require or encourage weekly 1:1s. - The corporate leadership and leadership of individual business units were completely out of sync with one another, resulting in a fractious, schizophrenic strategic plan. PMC leaders insisted that digital growth was the #1 priority, for example, while the publication I was at had senior managers who didn't understand or care about digital and instead doubled down on a declining print business. - PMC seems to want to treat all of its business units the same. For example, they had moderate success with Variety by increasing digital production volume, so they naively and uncritically pushed that same strategy on Robb Report, a luxury brands that cannot scale in the same way. - This reveals a bigger problem: PMC hasn't demonstrated it understands the publishing business at all. It has grown entirely through mergers and acquisition -- ie, by buying distressed publications at a discount. It's unclear if they can actually be successful over the long term by growing businesses organically.

Advice to Management

Get your act together. Value your employees and treat them with respect and establish mature HR systems to grow and reward them. Simultaneously, figure out what your overall business strategy is and get your business units on board to execute against that.

On my team, no one had received a single raise of any kind in over 2 years.

February 8, 2019

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2 English questions out of 2