Senior managers buck recessionary trend, reporting increasing salaries since October 2008

David Woods, 26 June 2009

Despite the recession, the average salaries for senior executives have risen by 3.35% since October, compared to a national average of 2.7%.

According to a report from jobs website Experteer.co.uk, show executive salaries have jumped from £70,000 to £74,000 since October 2008.

But salaries in the IT sector for executives, have fallen from £66,000 in October to £62,000 - marking a 6% decrease.

Thorsten Muth, manging director of Experteer.co.uk, said: "Senior executives should not be discouraged by gloomy market conditions. Our research shows wage inflation by role continues in most sectors despite wide-spread pay and promotion freezes for individuals. Those willing to embrace the risk inherent in moving jobs should not undersell themselves and ensure they are appropriately rewarded.

"Ambitious IT executives facing a fall in reward for their next step on the career ladder, should consider whether their experience might be relevant to other industries in which salaries continue to rise, such as consulting and financial services."