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Salaries Grow Across the UK

Salaries Grow Across the UK

Most Significant Increases in London and South-East

Contract Rates Grow Almost Twice as Fast as Permanent Salaries

Salaries are up 1.5% cent year-on-year in the UK, according to results from the Robert Walters 2012 Salary Survey.

Overall permanent salary levels increased 1.8% in London, 2.4% in Thames Valley and the South East, 0.4% in the Midlands and 0.8% in the North of England.

But the Survey reveals that contractor pay grew markedly quicker than permanent salaries – contract rates increased 3.7% across the UK during this period and 4.3% in London.

Pay also grew markedly in specific professions. Permanent salaries increased 9.6% for compliance professionals, 2.6% for HR specialists and 2.4% for lawyers. Similarly, contract rates rose by 13.8% for risk professionals, 10.7% for compliance specialists, 7.8% for accountants, 4.1% for investment banking operations professionals and 3.4% for both marketers and IT specialists.

Chris Hickey, Managing Director of UK Recruitment at Robert Walters, says:

“Against a backdrop of challenging market conditions, it is unsurprising that growth in permanent salaries has been relatively modest over the past year. However, it is encouraging that pay across the country is continuing to rise.

“The fact that contract rates have grown almost two-and-a-half times as fast as permanent salaries over the past year highlights where businesses’ priorities lie at the moment. Employers are focusing on projects that maximise efficiencies or work they consider business critical and are prepared to pay in order to secure the best contractors to complete these tasks.”

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