15 Aug, 2012

Salary Growth in the UK

15 Aug, 2012

Employees looking for increasing salary growth and a higher wage packet should head to Wales, according to a recent study.

The research, carried out by the job search engine Allthetopbananas.com, was taken from a data sample of over 9.4million online job adverts from their database. This survey revealed that Britons should relocate to Wales for job opportunities as the area has shown that the average advertised salary growth is +16% higher than it was recorded in 2008.

With the recent quarterly inflation report suggesting that there will be no economic growth in 2012; these results show that employees in Scotland and Wales could reap the rewards of higher salaries and are more likely to receive better promotions.

However, other areas were not so fortunate and large city areas such as London have experienced a notable fall in the average advertised salaries. With many high-flying industries situated in London, it is surprising that average advertised salaries have fallen by -7%, meaning that the average advertised salary has dropped to £39,502.

London was not the only area of the UK to see a fall in advertised salary growth, as locations such as East Anglia (-12%), the West Midlands (-9%), East Midlands (-16%) and the North West (-8%) have also suffered.

According to the Office for National Statistics (ONS), there were 2.58million people unemployed from March-May this year, which suggests that people must be more prepared to commute further distances to find the necessary jobs.

The results also found that people considering moving to find work should steer clear from the Yorkshire area as salaries showed an average advertised salary dip of -17%, in comparison to the results from 2008.

With many industries struggling to pay their staff well-paid salaries, or even pay them anything at all, it is clear that some people hunting for jobs could be in for a tough ride.

Credit: onrec.com