Rising confidence drives North West salaries up 4%

  • Accountancy and HR roles will see salaries rise by 5%, driven by major legal and financial firms moving mid and back office functions to the region.
  • Manufacturing roles will also see salaries rise by 5%, fuelled by growth in pharmaceutical and food processing industries.

A combination of major employers nearshoring operations in the North West and organic growth in local businesses is fuelling the growth of professionals salaries in the North West, with wages rising 4% in 2016.

The results of the Robert Walters Salary Survey2, reveal that roles in accountancy, HR and manufacturing will see the strongest growth, with salaries rising by 5%.

HR AND ACCOUNTANCY SALARIES DRIVEN UP BY NEARSHORING

For roles in HR and accountancy salaries are due to rise by 5%, fuelled by major legal and financial corporations moving mid and back office functions to the region. The need to increase headcount to fill these business critical roles, along with an emphasis on recruiting from the local workforce and focusing on internal training and development, is driving up salaries as these firms compete for top talent.

Chris Poole, Managing Director, Robert Walters Manchester, comments:

“With a highly skilled local workforce and significantly lower operating costs than the capital, the North West is an attractive location for large businesses looking to relocate mid and back office functions. Many companies have already realised this, with several large legal and financial services firms nearshoring some of their functions to Manchester and other regional hubs.”

“This has lead to a high level of competition to secure top talent among employers, driving up salaries in the highest demand roles.”

MANUFACTURING EMPLOYERS INVEST IN STAFF TO IMPROVE EFFICIENCY

The North West is also seeing growth in the manufacturing sector, with employers increasing salaries for permanent roles as they look to invest in staff long term.

In particular, salaries for continuous improvement manager roles are set to rise by 11% as employers look to maximise efficiencies in a growing but still competitive market.

Chris Poole continues:

“Despite competition from domestic and international rivals, manufacturing in the North West is still proving to be a growth sector.”

“Food processing and pharmaceutical manufacturers in particular are keen to attract top talent in roles relating to improving efficiency in order to maintain the high standards that allows firms in the region to remain competitive.”

To request further information, please contac Alan O’Doherty on 0207 509 8839 or alan.odoherty@robertwalters.com