The
average annual salary increase in the South of England is predicted to be less
than last year.
In
2001 the average annual salary increase in London, the South East and South
West was 3.6 per cent. This year it is predicted to be 3.3 per cent, says
recruitment consultancy David Chorley International.
Engineering
and telecommunications predict the highest salary increase for 2002 at 7.5 per
cent compared to the advertising and design sector that does not expect any
increase this year.
London-based
companies predict a pay rise of 4 per cent compared to those in the South West
which predict increases of three per cent.
The
consultancy studied over 1,150 organisations in both the public and private
sector.
Darren
James, South West branch manager at
David Chorley International, said: "Overall confidence and expectations
have been lowered because of the economic downturn. For example, 2001 saw the
highest pay increase in the property and pharmaceutical industries standing at
15 and 10 per cent respectively. These have both fallen to 5 per cent.
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"Despite
the fact that this is forecasted to pick up in the third and forth quarter of
this year, companies across the board are likely to offer leaner pay rises
while the market stabilises."
