Massive surge in salary increases contradicts government figures July 7, 2014 New salaries are surging, according to a major survey of recruiters, clashing with the government’s official measure of wage growth and providing an uncertain signal on when interest rates will start to rise. The latest figures from the Recruitment and Employment Confederation (REC) and KPMG’s survey show starting salaries climbing at the fastest pace in [...]
Job openings rise by 25 pc, but salaries stagnant July 2, 2014 The last six months may have seen a significant rise in the number of jobs created, if figures from job site Reed are anything to go by. Reed is reporting a 25 per cent year-on-year rise in the number of vacancies across its platform in the six months to 30 June. The increase in jobs [...]
More than 330 Bank of England staffers are paid £100k or more. Here’s how their salaries break down June 17, 2014 Central banking may be more lucrative than you think. According to the Bank of England's 2014 annual report, hundreds of staff are on six-figure salaries. The Bank's most well known names all seem to make the list. Bank governor Mark Carney is on annual salary of £320,000, with a total remuneration package of £586,010. Including [...]
RBS’ plan to pay bonuses twice that of salaries blocked by UKFI April 25, 2014 RBS has said this morning that the UKFI, the body that manages the government’s 81 per cent stake in it, has confirmed it’d block a proposal which would mean the bank could pay bonuses twice that of employees’ salaries. From the statement: UKFI has informed the Board that it will vote against any resolution which [...]
Mind the salary gap: Piccadilly is richest line April 1, 2014 WHEN someone asks you which Tube line you use, they could be enquiring about more than just how close you get squeezed into other people’s armpits and how frequently you’re serviced with a carriage. They might be able to take a stab at your salary. Recruiting firm Randstad has done the rounds and found out [...]
Balls says bank salaries are a ponzi scheme March 17, 2014 BANKERS are running a “Ponzi scheme” and in a rational world would do the same job for half their current salaries, shadow chancellor Ed Balls said yesterday, calling for the reintroduction of Labour’s bonus tax. His remarks came after the business secretary Vince Cable was quoted in the Observer yesterday saying “I don’t understand why [...]
Lawyer salaries up, but bonuses are dropping February 18, 2014 Some good news this afternoon for lawyers. The average salary in the legal sector has risen by £5,000 over the past year, a five per cent increase from the previous 12 months. The jumps means that the average lawyer’s salary now comes in at £108,690, up from £103,450 in 2012/13. But bonuses aren’t [...]
John Lewis makes changes to its gold-plated final salary scheme January 30, 2014 JOHN LEWIS is set to make cuts to its generous pension scheme, one of the few non-contributory final-salary schemes left in the country. The department store group, which also owns Waitrose supermarkets, launched a review of its pension scheme in March last year after revealing that the deficit had ballooned to £840m. The draft proposals [...]
Bank salaries jump to cancel out bonus cap January 23, 2014 EUROPE’S bank bonus cap will not bring down payment to staff, as lenders will simply increase fixed salaries to compensate, ratings agency Fitch said yesterday. Instead the bigger effect of the raft of incoming regulations will be to drive up banks’ costs overall, forcing them out of low-margin businesses. “Compensation costs of five large European [...]
