Salary awards for managers edged up during the three months to January 2003, reversing six months of steady deceleration.
In 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.
The latest issue of IDS Management Pay Review also shows:
The 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
The 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
Around a fifth of the companies surveyed paid a bonus during the period, with a median payment worth 5.4 per cent of salary.