Demand for highly skilled finance and technology staff gives professionals a head start in the 2017 salary stakes

  • Managers in finance can expect a pay rise of up to 5.8% next year
  • Technology developers can expect their salary to rise by 4.5% 
  • Most common reason people leave their job is boredom, findings claim 

Starting salaries for professional managers in the accountancy and finance sectors look set to rise by up to 5.8 per cent next year on competition for hard-to-find talent.

For more junior roles in accountancy or finance, staff can expect a pay rise of around 2.9 per cent in 2017, according to recruiters Robert Half's latest survey.

With the 'digital economy' adding £87billion to the economy, highly skilled technology experts are also in line for a pay rise of up to 4.5 per cent next year.

Climbing the ladder: Starting salaries for professional managers in the accountancy and finance sectors look set to rise by up to 5.8 per cent next year, according to Robert Half

Climbing the ladder: Starting salaries for professional managers in the accountancy and finance sectors look set to rise by up to 5.8 per cent next year, according to Robert Half

Mobile app developers at the top of their game should set themselves up for a pay rise of up to 4.3 per cent in 2017. 

As Brexit looms and an increasingly complex regulatory landscape emerges, senior managers in the financial services sector can expect a 5.2 per cent pay rise next year, from the £80,000 mark to over £85,000.

In the field of administration and office support, specialists in telemarketing look set to see their salary increase by 3.2 per cent next year, the findings added.

Customer services supervisors can expect a pay rise of 2.6 per cent, while sales assistants could see their pay packet boosted by 2.4 per cent next year. 

Across all sectors, starting salaries for professionals are expected to rise by 2.1 per cent next year, having increased by 3.68 per cent in the last three years.

Tech experts: With the 'digital economy' adding £87billion to the economy, highly skilled technology experts are in line for a pay rise of up to 4.5 per cent next year

Tech experts: With the 'digital economy' adding £87billion to the economy, highly skilled technology experts are in line for a pay rise of up to 4.5 per cent next year

Phil Sheridan, Senior Managing Director of Robert Half UK, UAE and South America, said: 'Productivity and growth are today’s premium business mantras and the growing skills shortage is one of the key challenges for any organisation to overcome. 

'Competition for the best people is intensifying and as this year’s guide demonstrates, salaries for hard to fill roles continue to rise and outpace the average salary by a significant margin.'

Boost: Highest salary rises for 2017 were in the accountancy and finance sectors

Boost: Highest salary rises for 2017 were in the accountancy and finance sectors

Last month, data from the Office for National Statistics for July revealed average weekly earnings excluding bonuses and before tax or other deductions stood at £472 across the UK.

Between May to July 2015 and May to July 2016, people's pay packets increased by 2.1 per cent, lower than the 2.3 per cent growth rate recorded between April to June 2015 and April to June 2016.

Earnings: Data from the Office for National Statistics for July revealed average weekly earnings excluding bonuses and before tax or other deductions stood at £472 across the UK

Earnings: Data from the Office for National Statistics for July revealed average weekly earnings excluding bonuses and before tax or other deductions stood at £472 across the UK

Touching on why employees move to a new job, the Robert Half survey said 32 per cent cited boredom with their current role or company. 

Thirty one per cent said they moved to a new company to get away from a poor work/life balance at their old firm.

WHY DO PEOPLE LEAVE THEIR JOBS?

1. Boredom with current role or company: 35%

2. Poor work/life balance: 31%

3. Stagnant career prospects: 30%

4. Concern over company performance/fear of redundancies: 28% 

Stagnant career prospects accounted for 30 per cent of people's reasons for moving on, while 28 per cent cited company performance or fears of redundancies, Robert Half added.

Despite the fact salaries for in-demand professionals are expected to rise, last week analysts said Britons face a cut in their real wages as the collapsing value of the pound stokes inflation.

Experts suggest the falling pound could prompt inflation to rise to 3 per cent or more next year.

With pay rises averaging just 2.3 per cent a year, the higher prices would mean a cut in earnings in real terms.

Paul Hollingsworth at research firm Capital Economics said: 'The Bank of England's rule of thumb is that a 10 per cent fall in sterling boosts inflation by 3 percentage points in two to three years.' 

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