With the general election taking place in June, it wouldn’t have been unexpected for businesses to tighten their belts ahead of the unknown. However, CV-Library has found that salary growth rose 1.3 per cent year-on-year.
Salary growth was significantly diverse across the country though, with some cities surging in the amount of pay they’re offering staff, while other locations have experience a dismal increase.
Sheffield came top of the pile for strongest salary growth, with a rise of 11.3 per cent in June 2017 versus June 2016. And on a month-on-month salary growth basis, Glasgow rose by 9.1 per cent, followed again by strength in Sheffield on a 1.2 per cent monthly rise.
Lee Biggins, founder and MD of CV-Library, said:“We are now one year on from the EU Referendum, and with post-election uncertainty still looming, it is very positive to see that salaries are continuing to rise at a steady rate, across the UK.
“Many key cities and sectors have seen positive growth, indicating that businesses across the nation are still working hard to attract talented candidates to their vacancies, despite these unpredictable times.”
The top ten cities for year-on-year salary growth are:
(1) Sheffield – 11.3 per cent
(2) Cardiff – 10.9 per cent
(3) Edinburgh – 7.4 per cent
(4) Glasgow – 4.6 per cent
(5) Leeds – 3.3 per cent
(6) Manchester – 1.6 per cent
(7) London – 1.5 per cent
(8) Bristol – 1 per cent
(9) Brighton – 0.5 per cent
(10) Southampton – 0.2 per cent
There were also sectors across the UK that demonstrated strong salary growth, with hospitality pay rising 15.2 per cent annually. This was followed by 8.5 per cent in administration, 4.7 per cent in both social care and education, and 3.8 per cent in automotive.
But despite a willingness to pay more, the findings revealed that application rates had fallen 11.6 per cent year-on-year.
Biggins added that uncertainty will be down to the lower rates, even if companies are more optimistic. He suggested that companies will need appealing packages beyond just salary growth to win new recruits.
Companies remain expectant when it comes to recruitment though, with vacancies rising 4.4 per cent over the period. In fact, that vacancy count surged significantly in Glasgow, which had a 24.1 per cent rise of jobs, with Brighton and Manchester following on respective increases of 19.5 per cent and 17.5 per cent.