With appraisal season underway, a new study shows that 78% of professionals are expecting a pay rise in 2015. In addition, two thirds expect to secure a bonus this year.
Compared to last year, the Robert Walters' annual Pay & Bonus Survey reveals that the number hoping for a salary increase has risen by over a third.
Lower increases anticipated
Despite the positive economic outlook, however, most are holding out for only a modest rise. Nearly half say an uplift of 1-3% is most realistic, with fewer than one in ten hoping for more than 10%.
Bonus expectations positive
Bonus expectations are more robust, the survey confirms. Two-thirds of respondents expect to secure a bonus in 2015 - up from 46% twelve months ago – with a third seeking between 6-15% of base salary.
The figures show how far confidence has permeated the UK market. Overall, more professionals are satisfied with the number of available jobs than not by a factor of three to one.
Chris Hickey, CEO, Robert Walters UK, comments:
“The survey confirms the trends we are seeing as hiring improves and candidates become more confident of their value to employers. A large majority now feel they are line for a pay rise, and we predict many will be weighing up their career options should they fail to be appropriately rewarded this year.
“With the economy improving, the weight of expectation around bonuses again suggests that many feel businesses are positioned to offer improved levels of compensation.
“Given the level of positive sentiment around job creation, and with many professionals confident of finding a new role, employers need to ensure they have benchmarked pay and bonuses at the right level or risk losing talented staff.”
For further information please contact Alan O'Doherty on Alan.ODoherty@robertwalters.com or +44 (0)20 7509 8839.