Workers across Manchester are enjoying faster rising salaries than the capital, according to a recent survey.
In fact, the North West region’s salary increases boasted a growth rate of almost double that of London and the South East.
The Robert Walters 2013 Salary Survey, taken between January 2012 and January 2013, shows that salaries are up 1.0% year-on-year in the North, compared to 0.9% in the Midlands and 0.6% in both London and the South-East and the UK as a whole.
Chris Poole, head of Robert Walters’ Manchester office, said: “Although these salary rises have been fairly modest, the fact salaries are increasing at a faster rate in Manchester than other parts of the country comes as no surprise given market sentiment.
“There is a lot of focus on the region now and a symptom of this is that we are seeing growing interest among employers in relocating outside of London and the South-East.”
Salary growth has most affected those in the secretarial and support professions who have seen their pay rise 2.4% in the last year. Those in banking and financial services are up 2%.
Transactional finance professionals such as payroll and credit controllers have also seen their salaries rise 1.4%.
While there have been no rises for certain professions such as HR and sales workers, pay has remained stable, relieving workers who have been uncertain of their jobs during the recession.
Mr Poole said: “While the cost benefits are obvious, there is also the realisation that there doesn’t have to be any sacrifice in terms of quality. There is an increasing acceptance that both the level and depth of talent is very strong. As a result, competition for the best professionals in these locations has intensified, driving pay up.”
Picture courtesty of NoteW, with thanks.
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