Spotlight on salaries
For full salary benchmarking, please contact us with your request.
Salaries for new hires in 2024 continue to rise at higher rates than those being offered to existing employees
0.8%
Average Salary increase being achieved by STEM candidates when moving to a new company.
0%
70% achieved an uplift on previous salary when moving to a new company (down by 13% in previous period)
0%
49% achieved more than a 10% uplift. (Up from 40% in the previous period)
0%
21% agreed a salary reduction and 9% moved for the same salary
Wage increases by skill
So what?
Although salary increase levels have fallen very slightly, (-0.4% v’s previous period) for STEM skills, it’s still a skill short market so unless there are other motivators driving a career move for a candidate, being competitive on salary is crucial to secure the best talent.
Interestingly with less opportunity in the market, 30% of movers agreed to the same or a lower salary emphasising that other motivators such as flexibility of work, interest of work and development opportunity are an increasingly major factor behind finding a new role.
0%
30% of movers agreed to the same or a lower salary
Ensuring your TA Team and Talent Partners are securing a deep and clear understanding of candidate motivations is critical to ensuring the right salary is offered.
0.8%
Average Salary increase being achieved by STEM candidates when moving to a new company.
0%
70% achieved an uplift on previous salary when moving to a new company (down by 13% in previous period)
0%
49% achieved more than a 10% uplift. (Up from 40% in the previous period)
0%
21% agreed a salary reduction and 9% moved for the same salary
Interestingly with less opportunity in the market, 30% of movers agreed to the same or a lower salary emphasising that other motivators such as flexibility of work, interest of work and development opportunity are an increasingly major factor behind finding a new role.
0%