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Energy, insurance and banking biggest earners for HR professionals

Emolument.com has given an insight into the salaries of those working in HR. The research reveals what HR professionals themselves can expect to earn as junior managers and senior managers.
 

Junior Managers (0-5 Years of Experience)

 

Sector

Salary

Bonus

Energy, Chemicals, Environmental

£38,600

£0

Insurance

£37,000

£2,200

Banking & Financial Services

£36,850

£2,250

Manufacturing & Industrials

£33,000

£1,250

Technology & Telecoms

£32,800

£0

Consulting & Outsourcing

£30,000

£0

Law Practice

£28,000

£0

Media, Communication, Music, Gaming

£27,500

£0

Construction, Real Estate, Architecture

£26,752

£0

Consumer Goods & FMCG

£25,750

£0

Services, Tourism, Restaurants

£25,250

£0

Charity & Not For Profit

£24,736

£0

Retail & Trade

£24,200

£0

Public sector & Education

£23,000

£0

 

The top paying sectors are insurance and banking, pegging their junior recruitment in their HR departments with other high paying jobs in the industry such as places on front office graduate analyst programmes. The insurance and banking sectors are some of the only sectors to offer bonuses early in HR employees’ careers.

 

Senior Managers (10-15 Years of Experience).

Sector

Salary

Bonus

Insurance

£99,000

£19,894

Banking & Financial Services

£88,500

£28,000

Technology & Telecoms

£85,000

£15,000

Retail & Trade

£80,500

£11,000

Manufacturing & Industrials

£79,000

£3,083

Consulting & Outsourcing

£77,500

£3,000

Public sector & Education

£61,500

£0

Charity & Not For Profit

£41,000

£0

 

As HR professionals move up through the ranks to senior managerial positions, HR salaries become much more polarised with as much as a £60,000 gap in base salary between insurance & banking and charity positions. Average bonuses of £28,000 and high salaries (£90,000) in the HR profession mean that HR pays close to average M&A packages, which currently stand at £148,000 (bonus and fixed salary).

 

The study has found that on average - and based solely on salary (excluding bonus) - men are paid 21% more than women in HR professions. This may be deemed surprising as HR departments are directly responsible for informing gender and diversity policies.
 

Since 2011, HR managers’ salaries have dropped from a median of £75,000 to £56,000, which could be explained by the development of effective HR software and systems, competition from cheaper RPO services and the lack of personnel growth over the period.

 

Alice Leguay, co-founder & COO at Emolument.com, said, “HR careers range from working for a recruitment firm or as part of an internal HR department, across a wide range of sectors and in very different stress levels. In banking, HR departments are usually under pressure from line managers who resent HR's intervention in the recruitment process. From our findings though, it seems HR salaries take the extra stress into account with both high fixed and discretionary pay. Beyond HR salaries stands a wider issue of the job description itself and how it is currently being redefined through new tech tools and processes with the need to have a presence on Glassdoor or monitor staff mood. We certainly expect HR as a career to morph substantially in the coming years.”

 

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