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Pay Market Trends Report

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SERVICE OVERVIEW

This comprehensive sector specific management report is designed to provide HR and relevant stakeholders with independent, relevant and expert market practice to inform internal pay budget discussions.

What is the Pay Market Trends Report?

A bespoke 2023-24 pay market trends report for your specific sector that collates all relevant market intelligence from the following key sources:

Government (ONS) statistics

Inflation and average earnings trends, historic and predicted

Paydata's pay settlement database

Historic and predicted pay budget trends both within the sector and across the whole of the UK

Paydata’s comprehensive pay database

Containing over half a million individual jobholders (in over 250 participating organisations).

The report’s contents is as follows:

  • Background / methodology
  • Historic pay awards & freezes – All sectors
  • Historic pay awards & freezes – Available sectors
  • Historic out-of-cycle increases – All sectors and available sectors
  • UK inflation – Historic and Predicted
  • Historic average earnings
  • 2023 pay awards & freezes – All sectors
    • Changes in awards over time
  • Cost of Living arrangements – All sectors and available sectors
  • Predicted 2024 pay awards & freezes – All sectors
  • Predicted 2024 pay awards & freezes – Available sectors
  • Appendix – Contributing organisations & sectors

The report is available for the following sectors*:

  • General Market
  • Manufacturing
  • Engineering and Construction
  • Facilities Management / M&E
  • Electricity
  • Renewables
  • Residential Care
  • Private Healthcare
  • Housing Associations
  • Water
  • House building
  • Associations and Institutes

Pay Market Trends Report Options:

  • The report costs £840 + VAT for ‘all sectors’ plus one chosen sector
    • Additional sectors can be added in for £100 + VAT per sector
  • For an additional £600-800 + VAT (depending on the level of personalisation required), we collect your own historic pay awards to make a market comparison, writing an independent recommendation for your forthcoming pay award for senior management to consider.

Would you like to know more about our Pay Market Trends Report? Get in touch.

*Where we hold sufficient, we may be able to support other sectors not currently listed above - please enquire for more information.

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