Employers hike salaries in bid to attract best recruits, study finds
6 January, 2017
Average salaries rose across the board last year, despite poor recruitment figures, a report has revealed.
According to research from job website CV-Library, the average UK salary rose by 1.1 per cent in December when compared to the same month in 2015.
Cities saw the biggest collective growth, with Cardiff recording a 17 per cent pay rise, followed by Manchester (5.8 per cent) and Birmingham (4.8 per cent).
Those working in the legal sector may have noticed a jump in their annual salary, up 13 per cent compared to the previous year. Likewise, employees in the property (up 8.2 per cent), manufacturing (7.6 per cent), recruitment (7.2 per cent) and IT (5.4 per cent) sectors may have experienced a hike in their take-home pay.
Lee Biggins, founder and managing director of CV-Library, said: “It’s positive to witness increases in salaries across some of the UK’s major cities and sectors last month, with the likes of Cardiff, Liverpool and Manchester seeing particularly strong growth.
“The fact that pay has jumped so significantly in certain areas is a nice indication that businesses across the nation are continuing to work hard to attract the very best talent, despite December being a quieter month for hiring.”
The research found that job vacancies had dropped nine per cent when compared to December 2015, while applications dipped around one per cent.
Mr Biggins said: “We always expected applications and job vacancies to drop last month – December is one of the quietest months in the recruitment market so the fact that there was a widespread dip in candidate and business appetite is not unusual.
“The good news is that organisations are showing signs of investing in their current and future workforce and there is no doubt that these numbers will pick up dramatically this month.”