Have you had a pay rise in the last 12 months? A report has identified the UK industries most likely to offer a pay increase over the last year.
The UK Salary and Recruiting Trends report by recruitment agency Hays is one of the most comprehensive annual guides to what employees in the UK are earning.
The industries that saw the biggest pay rises were IT, Banking and Construction and Property, with about a third of workers in these sectors seeing their pay increase by over 2.5%. Roughly a quarter of employees in the legal, publishing and insurance industries received a similar pay rise.
Around two-thirds of teachers, estate agents and not-for-profit workers received a smaller pay rise of up to 2.5%, whilst local government employees were the least likely of all to see an improvement.
In total 68% of UK employees saw an increase in their pay this year, with 21% receiving a pay rise above the 2.5% threshold. 30% saw their salaries remain the same, whilst an unfortunate 2% actually receive less pay now than they did this time a year ago.
The study also looked at people’s salary satisfaction: 45% stated that they were happy with their earnings compared to 55% who thought that they should earn more. However, if you are in the unhappy majority it may be worth asking your manager for a pay rise; of the 30% who said that they did ask for more money in the last year, 50% got it.
One of the biggest takeaways for employers from this research is that only half of all employees believe that their current role offers any chance of career progression.
This is probably why 59% of respondents expect to leave their job within the next 12 months.