PAY DATA
Pay settlement scene remains steady
Pay settlement levels are stable, according to the latest data from IDSPay.co.uk. The IDS key measure of pay deals - the median settlement for the three months to the end of July 2011 - remains at 2.5%. It’s now been pitched at this level since January 2011.
Two-thirds of all the latest deals are worth between 2% and 3% inclusive, with clusters at each end of this range. Almost a quarter of deals are worth exactly 2%, while 16% are worth exactly 3%.
%ADVERT%
No private sector freezes
No pay freezes were recorded by IDS at private sector organisations in the three months to July 2011, down from around one in 20 of private-sector reviews in the three months to June.
Pay settlements in manufacturing continue to outstrip those in private services, with double the proportion of manufacturing deals (48%) compared with private services awards (24%) coming in at 3% or more.
Summary of key settlement data
For the three months to the end of July 2011, based on 45 settlements covering 518,123 employees in total, the key IDS statistics are these:
Whole economy median: 2.5%
Whole economy average: 2.5%
Whole economy inter-quartile range: 2.0% to 3.0%
Private sector: 2.6%
Manufacturing and production median: 2.9%
Private services median: 2.5%
A final word
“Pay freezes look to have thawed across most larger employers in the private sector, and the overall picture on the level of awards is fairly stable, with manufacturing and the utilities ahead of services. Meanwhile in the public sector, basic pay remains frozen for most staff.” - Ken Mulkearn, Editor of IDS Pay Report.
Want to know more?
IDSPay.co.uk is an online source of all the remuneration data collected by IDS, on pay settlements, pay levels and executive compensation. Visit www.IDSPay.co.uk to see a demonstration or to sign up for a free trial.
IDS Pay Report, published fortnightly, is the UK's “leading source of research and analysis on pay and benefits across the economy”. For details visit www.incomesdata.co.uk or tel: 0845 600 9355.
Incomes Data Services is the “leading UK information and research service on employment issues, providing a range of publications for employers, trade unions, government departments and other agencies”. For more information visit www.incomesdata.co.uk.