The New Year is often one of the busiest times of the year for the job market with an influx of candidates looking for a new role. Add in the pressure of the cost-of-living squeeze and, in January 2023, the main topic for candidates looking for a new job is salary.
These trends are likely to be stronger this year according to data from job board, CV-Library. The business has found that the overall average salary for jobs posted on CV-Library in 2022 was £39,697, up +6.7% on £37,171 in 2021.
However, the data also shows several regions bucking the trend. The West Midlands topped the list with salaries up +10.8% year on year followed by the South East, +10.5%, and the North West with +7.1%. The top five places were as follows:
1. Coventry +10%
2. Hull +8.9%
3. Cork +8.9%
4. Portsmouth +8.8%
5. Birmingham +8.5%
In terms of industries the top five for salary increases were:
1. Agriculture +13.0%
2. Hospitality and hotel +11.9%
3. Catering +11.4%
4. Legal +9.0%
5. Manufacturing +8.4%
“We’re expecting salary levels to be the dominating factor in successful recruitment in 2023,” said Lee Biggins, Founder and CEO of CV-Library. “The industries that struggled the most to recruit in 2022 have responded by offering the biggest year on year pay increases.”
Biggins adds: “With the purse strings tight for many UK businesses, it’s unreasonable to expect them all to keep pace with the cost-of-living increases of almost +11%. It will be interesting to see where pay levels out during 2023.”
