According to Angela Wright, senior lecturer at Westminster Business School, pay can be the “elephant in the room”. “UK employers are reticent about pay,” she says. “It’s a cultural issue. But if you grasp the nettle and are more open, you’ll have success. People want a grown-up conversation and there are tangible benefits in being brave.”
Research from Towers Watson on salary budget planning for 2013 finds:
- The majority of British companies are planning to increase salaries by an average of 3% in 2013, the second year running.
- However, 4% of UK companies are planning a pay freeze in 2013, with 3% planning to postpone salary reviews.
- 93% of UK companies differentiate pay rises to make the most of pay budgets.
- Northern Europe 2013 pay rises are equal of those of the UK.
- But if you want more money, visit emerging markets: the Middle East expects pay rises of 5%, Turkey of 7.5%, Russia and the Ukraine of 9% and Egypt of 10%.
