We are half way through the year, already! So now is a great time to take a look at who is receiving the biggest wage increases of 2016, which industries are thriving and which are looking to grow over the next few months and years.
Lucas Blake have assessed the situation and put together the below infographic to help break down the information.
The biggest pay rises in 2016 have seen marketing managers and bankers pick up a lovely bump in wages so far this year, new research has revealed. 2016 has seen the general business world shift to a digital platform as businesses begin improving their communications and digital outputs. Marketing spends have increased and influenced management positions associated with these fields. This is apparent when we look to wage rises of marketing managers who have on average increased their salaries by 37 per cent to £70,000 this year from £51,000 last year.
Corporate baking salaries have also recorded a big rise, with an average pay increase of 37% to £82,000 from £60,000 in 2015, according to Emolument.com. Digital skills are the most highly sort after as demonstrated by research which suggests that Human resources managers are now expected to possess such skills. As a consequence, this amalgamation of skills has seen HR managers receive the third biggest rise in pay this year. Businesses are looking to their HR sectors to adapt their culture and management style to accommodate the millennials and generation Y. According to the statistics HR managers have seen a considerable rise of 31 per cent to £80,000 for 2016.
The strength of the economy in recent years has allowed the I.T sector to grow and flourish into the industry it currently is today. This is reflected in the statistics which show increasing wages in the IT sector since the recovery of the 2008 recession. The growth is expected to continue as things currently stand, however this is highly dependent on the future EU referendum and the economic fallout from this week’s particular event.
One large factor which is helping to boost wages inside the I.T sector is the increasing attempts from within the financial sector to hire the best I.T talent. This in turn is driving up wages for workers in the I.T sector. The burst of interest from within the financial industry can be attributed to technological advancements in cloud based security systems. This is therefore resulting in a number of available positions for cloud based computing engineers as well as software development positions and data architects. However, it is not simply the financial sector which is looking to further digitalise itself, creating a healthy requirement and competitive wage for the best I.T talents.
According to the European Commission for Digital Economy and Society, the five most important digital changes are expected to revolve around 5G internet, cloud computing, the internet of things, data technologies and cybersecurity. All of these changes are expected to be implemented in every aspect of our lives, both at home and at work. As a consequence, the need for digital or I.T skills are growing by the day and can only expect to grow along with the economy in the future.
The largest tech firm titles belong to Amazon. Amazon tops the highest paying tech firms for 2016. The news comes shortly after Amazon announce it is to created 1,500 jobs in the Manchester area through the opening of a new warehouse in Airport city.
About the author: Will Ellis is a writer on behalf of Lucas Blake.