Ryan FowlerHays’ analysis of over 12,000 salaries across the UK highlights the sectors of engineering, manufacturing, finance, sustainability, and technology as experiencing the highest salary increases in 2023. The Hays Salary & Recruiting Trends guide for 2024 reveals an average salary rise of 3.5% across UK professions, a decrease from the previous year’s 5.4% increase.
Machine learning scientists received the highest average salary increase at 11.9%, indicating strong demand in the technology sector. According to Simon Winfield, CEO of Hays UK and Ireland, “Engineering and manufacturing roles are arguably the most skill short across the UK, with substantial salary increases and counteroffers becoming commonplace across the sector.”
The guide also notes significant pay rises for roles related to sustainability, reflecting its growing importance on the corporate agenda. While there are fewer technology roles listed than in previous years, positions in cybersecurity, data, cloud computing, and artificial intelligence are expected to command above-average salary increases.
Winfield emphasises: “Whilst the top salary jumps and overall pay increase are more muted than last year, employers are still doing what they can to increase pay to attract and retain talent in a challenging market.” This statement underlines the ongoing efforts by employers to adjust pay scales in response to market demands and skill shortages.
The salary data compiled by Hays is drawn from job listings, job offers, and candidate registrations throughout 2023.
