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Increase in management pay rises
Monday, 03 March 2008
Professional & financial services
Recent months have seen managers receive average pay rises of four per cent, which could be of interest to graduates aspiring to such positions.
New figures from pay analysts Income Data Services (IDS) have found that bosses in finance firms benefited the most with rises of around 4.2 per cent, while public sector professionals received less at 3.2 per cent.
The study examined 134 settlements with some 26,000 managers and concluded that pay rises in the industry had fairly reflected the rate of inflation, reports Recruiter.
As well as receiving bonuses of up to 40 per cent in their salaries, board members were awarded rises of around 4.5 per cent.
Commenting on the data, Steve Tatton of IDS says: "January is a key date in the annual pay round and salary awards at the start of the year tend to set the pace for coming months."
He added that pressure will be on employers to maintain such increases unless inflation starts to drop in the coming months.
IDS is a research organisation that focuses on employment-related areas.