City Salaries

The average advertised salary in London is now £10,000 more than the rest of the UK, according to new figures.

The figures, from search engine AllTheTopBananas.com, show that the average advertised salary around the UK is £31,128, compared with London’s average advertised salary of £41,500.
The highest average advertised salary outside London is to be found in East Anglia, at £34,487, while the North West has the lowest at £29,676.

Dave Martin, managing director at AllTheTopBananas.com, said: “Advertised salaries are rising faster in London than the rest of the UK and the gap is getting bigger. This is a trend that is likely to continue throughout the next 12 months. We are also seeing advertised salaries continue to rise overall, putting added pressure on inflation. There’s a chance this could add to the UK’s economic woes in the next 12 months.”

* - Article from the recruiter

How to ask for a pay rise ... and get it

WITH pay review season on the horizon, and the cost of living skyrocketing, it's the time of year when workers are thinking about how to boost their bottom line.

Show me the money

Career coach Jane Lowder, founder and senior coach of Max Coaching, said employees should prepare themselves thoroughly before pitching for a pay rise by researching what the market rates are for your position, and proving your value to the company. One of the worst examples Ms Lowder had heard was of an employee barging into their manager's office and proclaiming: "I've been here for a long time, I deserve a pay rise". "And the manager's response was: 'What have you contributed?’" Ms Lowder said. "It's not just based on longevity; it's not just about turning up every day." She said preparation is crucial to getting what you're after. "It really revolves around proving your contribution to the organisation," she said. "Obviously the best way is to consider how you might add monetary value or impact the bottom line." With a widely acknowledged skills shortage, keeping your employees happy is crucial for bosses. A third of more than 11,000 respondents in the CareerOne survey said they would quit their job if they didn't get the pay rise they wanted. Keep your emotions out of it Breaking down into tears and making an overly emotional plea for cash won't help your chances, Ms Lowder says. "Keep it as a business discussion or transaction. Getting emotional doesn't always carry over that well," she said. Being demanding, or threatening to quit if you don't get what you want won't win you any brownie points either. "Holding the organisation to ransom is not a good idea," she said. "If you do decide to leave, then there's a reputation that follows you...one of being very demanding." Keeping an open mind and conducting a two-way conversation rather than a demand will also boost your chances, Ms Lowder says. Discussing what else you can do to contribute to the company will also help, but make sure you time the talk appropriately. If your manager's under the pump or trying to meet a deadline, make sure you have arrange a suitable time to for a detailed chat. "If the organisation's just posted results that weren't as favourable as they'd hoped, or if they haven't met targets, (it's) probably not the best time to be talking pay rises," Ms Lowder said, adding there are plenty of other ways for bosses can keep workers happy besides a pay rise. "Research shows that it's not just money that will keep people in an organisation. "There's an awful lot more incentives they can offer for retention." These include gym memberships, subsidising private health insurance, or offering flexible working hours and the option to work from home. Check out the competition Being realistic in your expectations is important, she says. By researching the market and seeing what the market rates are for your role using a salary survey, you are more likely to be clear on what to expect. "You need to suss out the market and be aware of how many opportunities there are out there for you as alternatives. "Again it comes down to 'do you have a niche skill and is it in high demand?' And if so, that impacts on your ability to ask for more."

Pay review checklist

• Prove your value
• Use evidence to boost your case
• Don't hold the company to ransom
• Keep emotions out of it
• Keep an open mind
• Timing is important
• Research the market

*Article from http://www.news.com.au

If you have any questions regarding this article or your pay, please do give G & G Recruitment a call.

Salary Growth - Credit Crunch

The REC and KPMG recently published their Report on Jobs which the recruiter reported on. Please find their report below: -

Apparently, salary growth slowed with modest recovery in permanent hires and rise in temporary jobs in March bringing a modest rise in permanent staff appointments while salary inflation eased to its lowest for two and a half years.

Weaker demand for staff and an easing of skills shortages contributed to low wage inflation. Although permanent salaries continued to rise in March, the rate of growth slowed. Inflation of temporary staff pay quickened slightly, but was only marginally above February's 22-month low. Meanwhile, brisk growth of temporary staff appointments suggests that employers continue to favour flexible workforces. Permanent staff placements rose modestly in March, while growth of temporary billings held firm. Recruitment consultants reported a rebound in permanent staff placements in March, following a slight dip the previous month. The number of people placed in permanent roles rose modestly, while anecdotal evidence suggested that the expansion in placements was supported by increased activity levels at client companies. Demand for permanent staff rose across seven of the eight categories of permanent staff monitored by the March survey. The strongest expansion rate was for engineers and construction workers, followed by executive and professional staff. There was higher demand for temporary or contract employees across the board in March. Again, the strongest rate of growth was for engineering and construction, followed by secretarial/clerical. Demand for blue collar staff once again lagged in last place.The knock-on effect of the credit crunch was first seen by the financial services sector, with annual growth of vacancies falling since last summer to a rate of just 2.7% in the three months to February. This is the second lowest in more than two years. Alan Nolan, director at KPMG, said: "The banking crisis is clearly taking its toll on the financial sector. IT and computing are among the sectors where demand for both permanent and temporary staff is weakest." However, fears are growing that jitters in the City will have a knock-on effect on other sectors. Although demand for staff in the engineering and construction sector is still strong, major contractors now worry that the turmoil in the financial markets will result in major office developments becoming casualties of the credit crunch. "No matter what sector, employers are becoming increasingly cautious about the outlook. Demand for staff is slowing and employers are hedging their bets with more emphasis on temporary hires, while pay pressures are easing somewhat. This further evidence of a softening labour market is a green light for an interest rate cut this week." Helen Reynolds, acting chief executive, Recruitment and Employment Confederation, added that the modest rebound in permanent placements suggests the labour market is holding up. She said: "Employers are dealing with the economic uncertainty by keeping close check on salaries, as indicated by permanent staff wage inflation coming in at a two-and-a-half-year low. Currently, the worst effects on the jobs market are being felt in the City, as banks retrench. But demand in other industry sectors such as engineering and construction shows no sign of slowing." However, job losses on the scale of the dotcom crash in 2001 are highly unlikely, Reynolds added.

Should you wish to see the full report, please do contact us on info@ggrecruitment.co.uk.