Research identifies key areas for salary growth

UK salaries have increased by 3 per cent in July compared to last year, according to data from job site CV-Library.

The research identified the key areas for salary growth and also the locations and sectors with the highest increases.

Locations

The North was found to have the highest regional salary growth, with Leeds experiencing the highest increase at 9.3 per cent, followed by Sheffield at 7.5 per cent and Manchester at 5.1 per cent. Birmingham had a salary growth of 4.9 per cent, whilst Southampton with a growth of 2.7 per cent. 

The data also showed the sectors where salary growth was the highest, with the retail, legal and accounting/finance sectors experiencing the highest increase at 8 per cent, 7.2 per cent and 6.9 per cent respectively.

More people are also taking advantage of job opportunities, as data showed a 3.5 per cent increase in the number of CV applications year on year. Locations such as Southampton, Birmingham and Sheffield saw the biggest increase in job applications.

Positive

CV-Library Founder and Managing Director Lee Biggins said that the rise in salaries across the UK is a “positive indication that businesses are pushing hard to attract the very best candidates.”

He added that it is “positive to see that candidate appetite is still strong, with CV registrations continuing to grow.”