HR · 23 November 2018

Salary rises set to double in 2019 for UK workers

Guide to hiring
Private sector employees could see salaries increase by 0.8% in 2019 double the 0.4% in 2018
Hard-pressed British workers can look forward to a wage boost next year, new data has suggested, but for even more money they need to move to Ukraine or India.

According to the latest Salary Trends Report by ECA International UK employees in the private sector are expected to see a real salary increase of 0.8% in 2019 equivalent to 20 extra month or 237.35 per year before tax.

That’s double the 0.4% increase experienced in 2018.

The real salary increase is calculated based on the difference between the forecast nominal salary increase 3% in the UK and inflation at 2.2%.

__________________________________________________________________________________
Salaries

 

Inside story: The National Living Wage impact on small business

Despite largely having been able to meet the challenges posed by the National Living Wage, the impact has been that small business profits have suffered.

__________________________________________________________________________________

The ECA said the rise was welcome but that a bad Brexit settlement when the UK leaves the EU in March could cause inflation to increase and salary growth to fall.

the 0.8 per cent salary rise that were expecting to see in 2019 is double what UK workers received last year. Although the UK’s nominal salary increase, at 3 per cent, is expected to be among the highest in Western Europe, the real salary rise is in line with the European average because of higher inflation eating into workers buying power, ” said Steven Kilfedder, Production Manager at ECA International.


 
TAGS:

ABOUT THE EXPERT

Business Advice