TITLE

Management pay settlements continue to fall -- but earnings start to rise

PUB. DATE
November 1994
SOURCE
Management Services;Nov94, Vol. 38 Issue 11, p3
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the latest survey on management pay published by the British company Reward Group. It shows across-the-board pay settlements for managers averaged 2.6 per cent over the last 12 months to August 1994. This is 0.2 percent lower than the previous all-time-low of 2.8 percent recorded in March 1994. Average pay rises for clerical staff over the same period has been identical at 2.6 percent, with rises for manual and shop floor workers only 0.2 percent lower at 2.4 percent This uniformity in increases suggests that many organisations are giving across the board pay rises to all staff and not giving different rises to each group, as often used to be the case. Although pay settlements have fallen to an average of 2.6 percent over the last 12 months, managers' actual basic pay has risen by 3.8 percent over this period. The difference between settlements and basic pay rise is called wage drift and is caused by a range of factors, such as automatic annual increments and the increasing use of merit pay rises.
ACCESSION #
12359808

 

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