The Rising Trends in Video Production Salaries
17 January 2024
The usage of videos grows and spreads day by day. Videos are needed in any sphere, from education to marketing, healthcare to entertainment. Visuals help to explain information and make everything more creative and engaging.
Thanks to the wide use of videos, the need for video creators, editors, and producers is also rising. Experts ' salaries are also rising with the need for specialists and work development.
In this article, we will talk about the leading and most popular jobs in video production worldwide, explain the trends and forecasts in compensation rates, and discuss the required skills for people who want to work in the industry. Also, we will delve into the influence of education on video production salaries and remote work influence. This will help you understand the main changes in the video production field and salary ranges in 2024.
In the beginning, let’s discuss what kinds of roles are available and the requirements for every vacancy.
Popular Vacancies in Video Production
Some of the most required video production jobs for 2023 and 2024 are:
- Video Editor: The most popular and leading role in the industry. Video editors are responsible for montage and editing videos and footage to create finished videos. You must know the leading editing software, main video editing tools, and techniques to work as a video editor.
- Videographer: Another required specialist in the industry is a videographer. Simply put a person who shoots the video. They have to understand the process of shooting, the techniques of camera operation, and how different hardware works
- Producer: Producers are responsible for forecasting all aspects of a video production project. Their work mainly consists of pre-production and post-production. They need to understand the video production process and know how to manage the production budget.
- Motion Graphics Artist: Not every video has motion graphics and animations in it. But they are getting more popular with time. The motion graphic specialist creates animated videos. They have to know several modern tools and software to create those graphics.
The specialists' budget depends on their experience and knowledge level. Many companies try to hire junior-level workers, not to pay senior-level specialists more. Indeed, this way, they can cause much damage and risk many things.
In the video production industry (like in almost any other field), salaries vary based on the type of job, years of experience, and city or country. We bring you the view on the salary level for some reated jobs in several countries based on the statistics of Paylab.com (average gross annual salary in EUR).
Source: Paylab.com, 4Q 2023
The Required Skills
In video production, success and salary depend not only on technical expertise. Soft and hard skills, like knowing the required software handling with lights and cameras, are critical. Someone who wants to be successful has to consider that as well.
Creativity is like the magic that brings fresh and cool ideas to your videos. Communication is key, too – it keeps everything flowing smoothly from the initial idea to the finished product. Being a team player is another essential thing. When everyone on the team works together smoothly, your video project will turn out great. It is an essential thing in video creation.
The Influence of Education on Video Production Salaries
Education is critical in shaping the salaries of individuals in this industry. Here's an exploration of how educational background can impact video production salaries:
Formal Education and Specialized Training:
A bachelor's or advanced degree in film, media, or related fields often opens doors to higher-paying positions.
Specialized cinematography, editing, or animation training can enhance skills and increase market value.
Skill Enhancement and Certifications:
Continuous learning through workshops, certifications, and online courses can contribute to skill development. Various certifications can increase professionals' salaries by showing their desire to stay updated.
The impact of education on salaries can vary by region, with certain areas placing more emphasis on academic qualifications.
Industry-Relevant Degrees and Programs:
Degrees from institutions with strong ties to the industry may provide networking opportunities and exposure to real-world scenarios. Programs focused on trendy technologies in video creation can help professionals be much more valued and gain more money.
Experience and Education Combination:
A blend of formal education and practical experience often results in higher earning potential. Employers always value workers' ability to apply their theoretical knowledge in real-life situations. Having a degree is not the only required thing. A worker should know how to apply their knowledge and use it during work.
Keeping Up with Changes:
As technology and industry rules keep changing, it's crucial to keep learning. Professionals who stay updated on the latest developments through continuous education might be more attractive to employers.
Boosting Your Bargaining Power:
Going for higher education can give you negotiation skills, especially when discussing your salary. The confidence that comes from education can positively impact how salary talks unfold.
Starting vs. Climbing the Career Ladder:
Starting positions require some primary education, but higher-up roles may require advanced degrees or experience. As professionals climb the career ladder and gather more education and work experience, they often see a bump in their salary.
The Role of AI in the Video Production Industry
Exciting advancements are happening in video production, and one standout is the integration of artificial intelligence (AI). AI is transforming the landscape by introducing innovative tools and techniques to automate various tasks in video production.
For instance, AI is automating tasks like transcribing audio, translating videos into different languages, and creating realistic visual effects
Recently, Adobe introduced Firefly, which will allow the incorporation of more Generative AI into products like Premiere Pro in the future.
While the capabilities of Video AI training for deep-fakes were showcased impressively at events like NAB in Vegas, there's a bit of caution in the corporate world about fully embracing this incredible technology. Even though there are hundreds of benefits AI can give, a lot of organizations still avoid using it.
Exploring Remote Work's Influence on Video Production
How we do video production is changing; a big part of that change is remote work. We can now collaborate with professionals from anywhere globally thanks to technology and the internet. This change can have several advantages. For instance, saving costs and boosting productivity.
But let's be honest – it's not all smooth sailing. We face challenges like clear communication, different equipment situations, building a solid team vibe, and securing things.
To handle this change, we have to communicate, use various tools and equipment, and have some virtual team activities.
The video production field is undergoing significant changes. There is a high need for workers in vacancies like editing videos, shooting them, and creating excellent graphics. How much you earn depends on your job, experience, and where you live. The experience is the main thing that can affect one’s salary.
Aside from knowing your tech stuff, we discovered that being creative, good at talking, and a team player is super important. Education, for instance, a degree or some training, can also help you make more money.
We also talked about how AI does incredible things in video production, but some people are careful about using it too much.
One more thing – many people work from home now. It has enormous benefits, like saving time and money. Along with the benefits, it can also bring challenges, like the need to use the right tools.
In short, the video production world is evolving. Jobs like video editing and shooting are in demand, and your pay depends on your role and experience. Stay creative, keep learning, and adapt to the changes!