Londoners can expect to earn an average three per cent pay rise in 2019, though contractors will earn a nine per cent pay rise on averageData from recruiter Robert Walters annual salary survey has revealed what salary hikes each London sector can expect in 2019. By taking a look at the table below: you can check what rivals are paying, or perhaps realise that it’s time to get into another industry altogether.
On average, Londoners can expect to earn a three per cent pay rise in 2019, though contractors will earn a nine per cent pay rise on average.
However, if you’re in the financial services industry, you may have to wait to see your salary go up – Brexit-related uncertainty is weighing on the City as the industry holds its breath to see whether the UK will even end up with a deal.
Outside of the capital, salaries are rising at an even faster pace. In the North West, salaries will see a 7 per cent increase, while Midlands contractors can expect to earn 11 per cent extra.
Chris Hickey, UK boss of Robert Walters, said: “The UK remains a ‘two-speed economy’, with London-based financial services firms experiencing slow growth due to Brexit-related concerns, while non-financial services companies outside of London experienced much faster growth.
“Manchester, Leeds and Birmingham have been particularly successful in positioning themselves as regional tech-hubs, attracting talent that would have historically migrated to London.”
The percentage change by sector is as follows:
| Job | 2019 salary | Percentage change in 2019 |
| Accounting and finance | £79k | +9 per cent |
| Legal in-house | £74k | No change |
| Legal private practice | £112k | +6 per cent |
| Procurement | £89k | +6 per cent |
| Financial services analyst | £43k | No change |
| Financial services associate | £59k | No change |
| Financial services manager | £73k | No change |
| Technology | £85k | +7 per cent |
And here are the job sectors in London boasting the biggest salary hikes on 2018:
| Job | Percentage salary change in 2019 |
| Accounting and financial | |
| In-house | +5 per cent |
| Commercial | +13 per cent |
| Interim CFO | +8 per cent |
| Interim SME finance director | +12 per cent |
| Interim business change | +5 per cent |
| Internal audit | +8 per cent |
| Legal | |
| Private practice | +6 per cent |
| Compliance | +22 per cent |
| Risk | +10 per cent |
| Procurement | +6 per cent |
| Chief procurement officer | +6 per cent |
| Senior buyer | +9 per cent |
| Risk | +10 to +20 per cent |
| Tax | |
| Head of tax | +16 per cent |
| Banking contractor | +12 per cent |
| Investment banking | |
| Derivatives trade support analyst | -19 per cent |
| Manager | -6 per cent |
| Relationship management | -15 per cent |
| Data management | -11 per cent |
