Pay rises for managers show growth

awards for managers edged up during the three months to January 2003, reversing
six months of steady deceleration.

the quarter to January, private sector management salary rises were running at
an average of 3.2 per cent, compared with 2.7 per cent during the previous
three months.

latest issue of IDS Management Pay Review also shows:

highest average awards, at 3.8 per cent, were in the finance sector, followed
by other service sector companies at 3.4 per cent. Average awards in
manufacturing trailed behind at 2.9 per cent

greatest fluctuations in fortunes were experienced by board members, ranging
from a 17.5 per cent salary cut imposed at one firm to rises of 10 per cent
plus at a handful of other organisations. Overall, almost one-in-six salary
reviews for directors resulted in a pay freeze

a fifth of the companies surveyed paid a bonus during the period, with a median
payment worth 5.4 per cent of salary.

By Quentin Reade

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