City salaries on the up

Salaries in the City of London are on the up, according to an annual salary survey.

After a downward turn the previous year, 2004 saw bosses offering bigger rises in employees’ pay packets.

The Anne Corder Recruitment Salary Survey found an average rise of 3.4% in employees’ pay for 2004. The survey covers a cross-section of jobs, from administration and clerical to accounts, sales, marketing and IT, showing that any increase reflects roles across the employment board.

“The previous year saw a downturn in pay rises. The 2004 upturn spells good news for everyone,” said Anne Corder. “Businesses are faring well, employers have confidence in performances and are keen to acknowledge their staff who are at the core of this success.

“We now hope this momentum continues through 2005. Combined with a number of projects planned for the City, the potential for growth and increased business activity over the next 12 months is great.”

Other significant increases noted in this year’s salaries revolve around bonus schemes and share options, with more bosses than ever before choosing to use these benefits to enhance their employees’ pay packets.

“Salaries are important but so are other benefits,” added Corder. “Providing a rounded package of entitlements, which give staff real benefits in their working and personal lives, is most definitely the way forward and it is great that this is being acknowledged and acted upon by bosses across the City.”

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