Cooper Lomaz Salary Survey reveals positive outlook for pay in East Anglia

Mark Fletcher of Cooper Lomaz.

Mark Fletcher of Cooper Lomaz. Picture: NEWSMAKERS. - Credit: Archant

Six out of 10 professionals in seven key sectors across the East of England have had a pay rise in the past year, according to a new study.

In the latest annual Cooper Lomaz Salary Survey, 60.8% of respondents reported a salary increase in the past 12 months, up from 57.6% a year ago, although around a third, 32.7%, saw their pay stay the same and 7% suffered a cut.

Salary expectations for the coming year are also slightly improved, with around two thirds, 65.2%, expecting a pay rise compared with 63.1% last year, although 2.3% predict a reduction, up from 1.0% in 2015. Around a third, 32.5%, expect no change in pay.

Regional recruitment firm Cooper Lomaz bases its findings on responses to an online questionnaire, cross-referenced with data from candidate interviews and placements over the past year.

Sectors covered include Accountancy & Finance, Engineering, Food Manufacturing, Insurance, IT, Sales & Marketing and Supply Chain.

Nearly half of the companies covered in the survey, 49.7%, expanded their workforces during 2016, down slightly on 55.0% the previous year, and just under a quarter, 23.5%, saw a fall in numbers, slightly up from 21.8% in 2015.

Just under half of respondents, 47.7%, expect their company to increase staff numbers during 2017, down from last year’s expectation of 54.7%, while more than a third, 34.9%, expect numbers to remain stable and 17.4% think employment will fall.

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More than half of the respondents, 51.9%, are satisfied in their current roles, a small improvement on a year ago, and less than a quarter, 23.1%, are dissatisfied, down four points on 2015. Just under half, 45.3%, see themselves changing roles in the year ahead with a third, 32.9%, expecting to remain and a fifth, 21.8%, unsure.

Mark Fletcher, director at Cooper Lomaz, said: “Much like 2015, 2016 has been a very candidate-driven market. As a result, employers have had to work even harder on retaining and attracting top talent through a variety of means that no longer start and end with salary.

“Job satisfaction and the benefits that come with salary packages are more important than ever in a number of key sectors, particularly with candidates whose skills are in high demand, like software developers, accountants and engineers.”