Pay awards have settled around the 2.5% mark this...
Pay data: for three months to September 2018
Various research organisations have published pay data for the three months to September 2018 along with predictions for the following months.
- XpertHR shows the median basic pay award across the whole economy at 2.5%, with the middle half of pay awards (the interquartile range) worth between 2% and 3%. Within the private sector, the latest deals from manufacturing and production companies are worth also worth a median 2.5%, while in private-sector services firms the going rate for pay awards is 2.1%. XpertHR also says that employers don’t expect the 2.5% benchmark to be exceeded during 2019. The median pay award prediction across the private sector was 2.4%. Companies in the manufacturing and production sector put this at 2.5%, while those in private sector services predicted a median award of 2%.
- LRD Payline shows the median standard increase for the three months from July-September at 2.5%.
- Croner Reward data show that, including pay freezes, the average settlement in the four months to September 2018 was 2.0%. The average forecast for the coming year is 2.3%. The average forecast for the next quarter (October to January 2019) is 2.1%.