A forecast by pay specialists Incomes Data Services (IDS) said average rises for managers and professionals will be around 2.2 per cent, falling to 0.7 per cent for those in public sector organisations.
Private sector pay awards are expected to be more generous, with average rises of 2.6 per cent, said the report.
Adam Cohen of IDS said: “Our latest figures suggest that 2013 will be the third year running that managers and professionals will not have seen above inflation pay rises.
“Pay awards declined sharply in 2012, and the signs from HR departments are that many managers and professionals will again see their pay struggle to keep pace with inflation in the coming year. Public sector managers in particular are only likely to enjoy inflation-busting pay rises if they secure a promotion or move jobs.”
The number of managerial pay freezes increased last year to 16 per cent, compared with 13 per cent in 2011, added IDS.
A separate report showed that an increased number of workers in the City of London are not expecting a bonus of any kind this year.
Recruitment firm Astbury Marsden said almost half of City workers said pressure from the Government and financial regulators would have a detrimental impact on their pay.
Chief operating officer Mark Cameron said: “The Financial Services Authority has recently warned the chairs of bank remuneration committees that they expect 2013 pay levels to be below those of previous years. This is an unprecedented move, and shows just how far the Government and its regulator are willing to go to force down bonuses.
“The message has definitely trickled down to individual bankers, many of whom are very pessimistic about the prospect of getting a bonus of any size.”
Pamela Flores is an events professional with experience at Symposium Events, a UK-based conference and events organization. She has worked in editorial and event coordination roles within the HR and expatriate management sector, contributing to the organization of major conferences including the Expatriate Management and Global Mobility conference. Her background spans online editorial work and events management within the professional conference industry.
- Pamela Flores
- Pamela Flores
- Pamela Flores
- Pamela Flores
