Happy Friday folks. Hopefully you're reading this from one of three places:
1. Your Couch
2. Gate 23 on your way to St. Louis
3. The Bar – any bar.
But regardless of where you are today, we just know your holiday weekend wouldn't be complete without knowing how much cash money The Powers That Be at 300 Madison Ave dropped on yesterday's Wall Street Journal ad. With the help of a friendly tipster, I was directed to the Journal's media kit site.
Holy sh*t, those are not Going Concern prices.
Yesterday's ad – aimed at a demographic of PwC/Journal readers that doesn't exist – was a color 1/4 page ad. Assuming the ad was run on a National scale, there are a few price points we can use to figure out how many Experienced Associate bonuses were sacrificed by this HR blunder:
National Edition, 1/4 page ad (black & white): $43,927.70*
National Edition, 1/2 page ad (color): $121,416.51
*1/4 color was not listed
Alright gang, what do you think? Does $60,000 for a color 1/4 page ad in the front section of a newspaper that none of you read sound about right? Don't forget the wages/time/conference calls/catered breakfasts that went into this strategically misplaced "Thank You" card. Makes you feel warm and fuzzy inside, doesn't it? Or maybe that's just the bourbon you're sneaking at your desk while you watch the clock tick down to the long weekend. Either way, Happy Holidays!
One More Thought: Let's not forget that the probable purpose of the ad was not to thank the staff members, but to provide mass exposure of PwC's name and brand in the WSJ without it being a direct advertisement. Don't believe me? Revisit the newspaper clipping in yesterday's post. The colored portion is an extension of the firm's logo and "PwC" is in bold, white letters not once but twice. You see your firm spending frivolous money on a silly thank you. A Fortune500 executive sees a firm treating their employees well, and makes a mental note to call them next time his company needs something.