PAY DATA
Compensation and benefits remains highest paid HR specialism
The highest paid HR specialism remains compensation and benefits, according to this year’s Personnel Reward Survey from the Chartered Institute of Personnel and Development in association with Croner Reward.
The survey of over 5,000 personnel professionals reveals that comp & ben specialists receive as much as 9% above the average salary for a senior manager – £50,000 compared with £45,900.
Also above average by 2% are project manager/internal consultants. Senior personnel professionals with overseas responsibility earn a premium of up to 27%. This premium has significantly increased compared with last year’s 20% and 13% in 2007.
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Forecasts for 2009
HR professionals in the public and voluntary sectors expect to see a dip in their salary increases next year, while private sector professionals are more optimistic about their pay prospects.
In the public sector, HR salaries are predicted to rise by 2% next year, compared with an increase of 2.5% in 2009.
Private sector HR employees by contrast are expecting an improvement, from 2% this year to a 3% rise in 2010.
Of all sectors, pay prospects for HR professionals in the voluntary sector are the gloomiest, with a prediction of a 2% increase in pay next year, compared with 3% last year.
Pay freezes
The survey also lays bare the reality of the recession’s negative impact on HR pay packages this year. One in four of the total sample (25%) report having no salary increase at all in 2009. In the public sector, almost one in ten (8%) have not received a pay rise, and this jumps to nearly four in 10 (38%) in the private sector.
Bonuses
Bonus payouts in HR last year averaged 8.3% of base pay and the percentage ranged from 5% to 21% across job levels. The size of bonuses varied considerably across sectors but the private sector bonuses were generally higher than those in the public sector. An average head of function working in a private sector organisation received around £10,000 compared with £6,000 in the public sector.
A final word
“As you would expect, most HR professionals have – along with their colleagues – suffered pay freezes or reduced increases this year, especially in the private sector. Predictions for next year seem to be aligned with wider economic forecasts, with HR in both the public and voluntary sectors bracing themselves for even tougher times ahead. HR in the private sector has really felt the pinch this year, but many are hoping the upturn will make things a little easier for 2010.” -Charles Cotton, Reward Adviser, CIPD.
Want to know more?
Title: Personnel Reward Survey, Croner Reward in association with the Chartered Institute of Personnel and Development (CIPD).
Survey data: Drawn from around 5,500 jobs from 1,400 organisations of all sizes. Roles are analysed throughout the structure, and information from areas that often fall within the remit of personnel, including security, payroll and receptionist staff is also included.
Availability: To order a copy of the survey call Croner Reward on tel: 01785 813566, email: enquiries@croner-reward.co.uk.
The Chartered Institute of Personnel and Development (CIPD) has more than 130,000 members and is the “leading professional institute for those involved in the management and development of people”. For more details visit www.cipd.co.uk.
Croner Reward publishes 60 pay and benefits surveys a year across a range of sectors, regions and professions. Visit www.croner-reward.co.uk.