Sectors Offering the Highest Salary Increases in 2018
Compiling the latest data from the Office for National Statistics, we have found the industries and sectors that are set to see the highest average pay rises across the globe throughout 2018.
Of course, being in the finance sector has always been a lucrative career, with jobs in finance and banking set to rise an average of 8.6% this year. (An average weekly earnings growth across the year of 1.5%). Similar wage hikes have been common especially over the past decade; as the industry is one of the only ones in which sectors average pay is higher than it was in 2009.
2. IT & Software
The IT sector has projected salary increases on average of 9.5% throughout 2018; technicians will need to stay up-to-date of any technological advancements and disruptions in a continuously evolving industry in order to ensure that their skillset always remains relevant, as stagnation can occur very quickly and easily within the industry.
With an 11.1% annual increase, the Pharmaceutical industry is one of the sectors set to see the largest pay rises, however at the same time has quite a high staff turnover rate of 15.9% due to the long hours and increasing demand for pharmaceutical related professions. The trend of differentiated salary increments is also set to gain strength throughout 2018.
4. Manufacturing & Engineering
In manufacture engineering, the types of skill which may provide an advantage include manufacturing process engineering and project management. Employees with added skills in manufacturing process engineering field can expect an 8.1% increase in salaries throughout 2018, while project managers should receive even higher in the 8.9% region, even more in the specialist engineering field.
5. Farming & Agriculture
The farming and agricultural sector shows a 10.5% yearly incremental growth increase on average and is surprisingly one of the only sectors in which pay growth currently stands above global inflation.
Eltoma Recruitment have HR experts on hand to assist with your new career path, Contact us for more information.