Salaries set to rise by £20 a week in 2019
UK professionals can expect to receive an extra £20 per week due to salary increases in 2019 – that’s double the increase received in 2018, according to the latest Salary Trends Report by ECA International.
Rising wages often indicate that employers are struggling to fill all their vacancies, so subsequently are boosting their offerings to both attract new talent and keep their current staff where they are.
The rises mean the average employee can expect to see a raise of about 0.8%. This is following a better than expected salary increase for UK workers in 2018 (0.4%), originally forecasted to be among the lowest in Europe at 0.2%.
But Steven Kilfedder, Production Manager at ECA International, says the stats needs to be viewed in line with the bigger picture.
“The 0.8% salary rise that we’re expecting to see in 2019 is double what UK workers received last year,” he says. “Although the UK’s nominal salary increase, at three percent, is expected to be among the highest in Western Europe, the real salary rise is in line with the European average because of higher inflation eating into workers buying power.”
A significant factor which could impact these figures is the UK’s impending withdrawal from the EU.
Kilfedder adds: “It is still very unclear what impact Brexit could have on inflation and salaries in the UK. Any deal that is made, or lack of it, could have far reaching implications on wage and price rises and these figures could change significantly depending on what happens between now and the official withdrawal date in March 2019.”