UK pay has fallen at its fastest rate on record

Forbes Advisor conducted a survey of 5,100 Brits to discover how many have considered asking for a pay rise due to the cost of living crisis, amongst other issues. The findings include a breakdown of responses from workers in each industry and region of the UK

Only 4% of companies have voluntarily awarded financial compensation, with the transportation industry least generous of all.

The transportation sector is the worst for offering staff pay rises – employers in this industry are not so open-handed with voluntarily giving out a pay rise, with only 2.96% offering their staff compensation.

Within transportation, 74.1% of employees considered asking for a pay rise (above the national average of 68%) – however only 15.3% actually asked for one.

According to the survey, just 10% of these employees who asked received a pay rise on request, which is considerably below the national average of 26%.

The age groups and regions most likely to ask for a pay rise

Out of 5,100 people surveyed, 3,546 (68%) people revealed they have considered asking their employer for a pay rise. The highest number of respondents answering yes were those aged between 35-44, with 75% revealing they had considered asking for more money.

The age group which were least likely to consider asking for a pay rise were those aged over 54, at 69%.

Regionally, those living in the East Midlands were considering asking for a pay rise the most due to the cost of living crisis with 76% of respondents answering yes. In second place were those in Wales at 73.9%, followed by the North East with 73.4% responding yes.

Briefly, in other sectors as well, only 2.96% of transportation employees were voluntarily offered a pay rise – lowest of all industries.
Of those that asked, just 10% received a pay rise – again the lowest of all industries.
Pharmaceutical employees are least likely to ask for a pay rise, at just 14.1%, while 
Aerospace employees are likely to receive the biggest pay rises.Employees in West Midlands most likely to receive a pay rise on request and employees in East Midlands most likely to ask for one.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More