Automotive Industry Managers are Pay Champions Once More

blog-publish-date

07 Mar 2016

blog-read-duration

  Managers in the automotive industry have overtaken those in the financial services sector to resume their reign as the highest paid managers in the UK (earning on average £46,019), according to new research by pay and benefits specialists, Croner Reward. Last year was the only time in six years that financial services managers managed to beat automotive industry managers into the top spot. Furthermore, pay in the West Midlands has sped up massively from being the lowest average in 2015 (£35,676) to the highest mover in 2016 (5.1% above the national average), with average pay clocking in at £40,345. This is a significant find considering that the overall median basic pay increase for UK managers was 1.8%; itself a surprise as the Consumer Price Index was +0.1% in November 2015. Junior Managers fared the best with the highest increase of 3.6%. Viv Copeland, Head of Croner Reward, says: “Champagne must be flowing for managers in the automotive industry, as they return to the number one spot on the podium. That being said, our research has shown that – for the past six years – average pay for managers in this industry has been over £40,000. On the opposite end of the grid are managers in the Miscellaneous Metal Goods industry, who in January 2016 were typically receiving £28,225 basic pay (£128 less than they received last year). ” “Overall median basic pay is suffering as a result of a fall in the Consumer Prices Index, which has reduced by 0.4% this year. It will be interesting to see, if this improves, how sector pay will differ and if the financial services sector will be able to overtake the automotive sector again next year.” Croner Reward publishes annual management salary surveys to give organisations excellent visibility of pay for workers at this level of the business. To order a copy of the report call 01785 813566.  

Free to Download Employer Resources

  • Pay Awards & Forecast (September 2018)

    FREE DOWNLOAD

    Pay Awards & Forecast (September 2018...

    Read Croner Reward's expert settlement and forecast report for September 2018

    Read more
  • Sample Health & Safety Policy Statement

    FREE DOWNLOAD

    Sample Health & Safety Policy Stateme...

    Here we’ve included a free sample Health & Safety Policy Statement that UK business owners can refer to.

    Read more
  • Pay Awards & Forecast (June 2018)

    FREE DOWNLOAD

    Pay Awards & Forecast (June 2018)

    Read Croner Reward's expert Settlements and Forecasts report for June 2018

    Read more
  • How Much Does Employee Turnover Cost Your Business?

    BLOG

    How Much Does Employee Turnover Cost ...

    A recent Glassdoor survey revealed that almost 35% of hiring professionals expec...

    Read more
  • Staff Turnover: What Do You Need to Know?

    BLOG

    Staff Turnover: What Do You Need to K...

    Having a high worker turnover can have mean two things: A negative impact on you...

    Read more
  • What is Wrongful Dismissal?

    BLOG

    What is Wrongful Dismissal?

    If you breach an employee’s contract, you could be liable for wrongful dismissal...

    Read more
  • bemrose-school-derby

    CASE STUDY

    Bemrose School Derby

    “Having Croner-i saves us a lot of time and money, as we do not have to use cred

    Read more
  • wmtr

    CASE STUDY

    WMTR

    “I’d definitely recommend the Croner OnSite services and I have done already, I

    Read more
  • certikin

    CASE STUDY

    Certikin

    “Our Distribution Manager had a particularly technical query relating to respira

    Read more

Ready to focus on what you do best?

Get your free consultation and speak to an expert today.