Hard Facts on Pay and Reward
11 April 2017 by Justin Rush
Hard Facts on Pay and Reward
The Abacus team has surveyed over 500 professional employees within the Belfast marketplace to create its most comprehensive localised guide on pay and reward. We have created a detailed report with the results available for download and viewing on HD video via www.abacus.jobs/salarysurveys/
The guide outlines current average basic salaries, applicable benefits and information upon past and expected pay increases for professionals working in Software Development, Analytics, Legal, Finance, Compliance, Accountancy, Sales, Human Resources and Insurance.
Below is a snapshot of survey findings:
- 263 of 500 professions surveyed obtained a basic salary increase in 2016.
- The average percentage pay increase in 2016 for these 263 professions was 7.41%.
- 54% of Accountants working in professional practice expect a basic pay increase of between 3 to 5% in 2017.
- Software Developers with five years plus experience have an average basic salary of £37,675 p.a.
- 31% of Para-Legal support staff in 2016 received a basic salary increase, this year 69% are expecting an increase.
- 28% of Human Resource professionals received a bonus in 2016.
- 74% of Compliance professionals can gain a performance bonus in their current employment.
- 20% of Business Development Professionals expect a basic salary increase this year, this is the lowest expectation form any group surveyed.
- Newly to three years, qualified Solicitors enjoyed continued year-on-year growth in basic salary, the current average is £27,267 p.a.
- Only 8% of professional staff working in the Insurance sector can avail of flexible working arrangements. This is the lowest percentage of the industry sectors surveyed.
- 68% of Data Analysts surveyed received a basic pay increase in 2016.
- The average basic salary for a Management Accountant in Belfast is £33,954 p.a.
Click to view the Average Basic Pay Percentage Increase Findings: Basic Salary increases per sector 2016
How can you use this information for your benefit?
This information should certainly help you benchmark your pay and reward offering whether you are reviewing current staff or budgeting for future appointments.
In closing, it is important to consider the messages of the Spring UK budget. Revised economic growth forecasts for 2017 are 2% with expected inflation continuing at 2.4% for the foreseeable future. It is, therefore, logical to conclude that employees will feel conditions are right for a positive increase in salary terms in the year ahead.
If you have any further queries on our salary survey findings please contact; Justin Rush, Abacus Talent Group, Director on mailto:[email protected] | 028 9031 3157.
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