Data 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|
|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|
|Head of tax||+16 per cent|
|Banking contractor||+12 per cent|
|Derivatives trade support analyst||-19 per cent|
|Manager||-6 per cent|
|Relationship management||-15 per cent|
|Data management||-11 per cent|