2022 has been a significant year for wage growth. We’ve seen a record number of job vacancies being advertised which has contributed to salaries increasing faster than usual across certain industries such as Construction and Information Technology, and the tight labour market is predicted to continue well into 2023.
We’re living through turbulent times and some of the shifts in the job market have been unprecedented. A recent survey carried out on 2,300 workers from CV Library found that 49.6% of people were actively looking for a new role, sparked by announcements from the Chancellor’s mini-budget last month. Furthermore, a survey carried out by Reed.co.uk found that 25% of workers were considering switching jobs this year fuelled by rising job dissatisfaction, with low salaries and ‘lack of enjoyment’ cited as the main reasons for this.
As we ride the waves of the volatile economy, we’ve updated our 2022 salary guide to provide our clients with current salary ranges for key occupations from each of our specialist sectors to assist them with attracting and retaining talent. If there’s a discipline that falls under one of our sectors that isn’t listed below which you’d like guidance on, reach out to one of our consultants who will be happy to help.
The following salary data has been compiled utilising both industry sources as well as data gathered from our recent placements and live job vacancies from the previous 6-months. We want our clients to understand that salary guides are just that – guides that set the right platform for candidates to develop their careers and companies to ensure the best talent is drawn to them. We work predominantly across the North West and East Midlands and the salary data below does not account for bonuses, commission, or any additional shift allowances.
Whilst an increase in the number of candidates to the market is undoubtedly a good thing for the economy, it’s not a solution to the overall crisis of spiralling inflation and a spike in interest rates. Removing tax on employment and not increasing corporate taxes were sensible decisions highlighted in the mini-budget, and although there is still some uncertainty in the market as we head into Q4, this has certainly helped towards the growing confidence amongst employers when it comes to hiring.
As we head into a winter of inflated prices, high energy costs, and increasing interest rates, enhancing employee salaries is an obvious strategy in today’s talent war. Skilled candidates are still in high demand and even with a recession looming, the focus on providing competitive salaries continues; not only to attract top talent, but to help ensure employees stay put.
According to Michael Page, professionals earn an average salary of £35,367 in the North West, and £38,212 in the East Midlands, the latter of which is the fastest growing economy outside of London and the South East.
