Commercial Finance People, Financial Recruitment Consultants, reports an increase in starting salaries for skilled professionals within ABL, Invoice, Trade & Asset Finance and Banking where there are a growing number of pockets of skill shortages. 

KPMG’s Report on Jobs (see below) shows that this pattern is repeated across all sectors.

Pay Pressures

The recruitment industry survey tracks both the average salaries awarded to people placed in permanent jobs each month, as well as average hourly rates of pay for temp/contract staff.

Permanent salaries

May data highlighted a rise in starting salaries awarded to successful candidates placed in permanent jobs by recruitment agencies. The latest increase was the seventh in consecutive months. Pay inflation was solid, despite easing from April’s twenty-five month high. Consultants generally commented that higher salaries were the result of employers looking to attract skilled staff.

Temp/contract pay rates

Hourly rates of pay for staff in temporary/contract employment increased for a fifth consecutive month in May. However, the rate of growth eased since April and was subdued compared with the series’ long-run trend.

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Re-printed with kind permission of Markit