To ask what you would think of a 5% pay rise in the current climate?

[Mumwantingtogetitright]

Would you be pleased to get this?

Or annoyed because it's below inflation?

Accepting because money doesn't grow on trees and something is better than nothing?

Would the type of employer make any difference? (Ie if it was in a struggling industry or not-for-profit where funds were tight vs a big profitable company?)

Just curious about people's views, and wondering what the "average" increase has been for people in recent months.

I'm lucky because our unions negotiated inflation (possible CPI or a different one) us 2% so it's working out at 7%ish. However this was complete luck and I doubt the company would have agreed if they had foreseen such a increase. So I think 5% is pretty reasonable.

I’m in the private sector. Got 4%. 2% last year and nothing the year before that. I appreciate that it’s more than many others, but it’s just not close enough to keep up with rising costs at all.

No pay rise in my industry, in fact wages have remained stagnant for at least 10 years. Earning less now than in 2012.

Same here, but obviously I would like more, think I’m worth more, and would prefer something which addresses the current massive inflation figure and does something to make up for the erosion of the value of my salary over the last ten years of freezes or below inflation rises.

But as that’s never going to happen, I would take 5% and be relatively happy.

It's 3% more than I got, private sector, prof services

I think (hope) we are getting 7% payrises. I’ve just approved them at that rate for my team (after that amount was suggested by the online system). For first time in years payrises seem to be ok. Big city law firm that has had the best ever year of profits…

I got 8% but that was performance related. Standard was 4%. I think 8% was fair considering the current climate and should have been across the board

Glad most would be happy with that is what we are planning for our business although I'm sure someone won't be happy but they never are! There's only so much at can do though!

I'm a civil service pensioner & got 3.1% increase.

It's pretty good. My company allowed 2-3% as did my husband's.

In the industry I work in people are starting to be made redundant, I suspect recession for the rest of the UK isn't far behind so take what you can now.

It's effectively a pay cut...strike🙃

Theres a problem with not putting existing staff wages up though.

The wage increase I am seeking for my team will bring them up to the level jobs are being advertised as. Where our office there’s a shortage of good and reliable admin staff. As a result, people recruiting have put up their wages. If we don’t increase our admin staffs wages, they will leave and go to another employer. We will lose good, experienced staff. The staff will still get the wage rise.

If you have staff who ar eat rug going on their existing wage and can get a substantial increase elsewhere, what would you suggestion be? Try and stop them from moving? Ban them from moving and ask them to carry struggling? ‘I know you can’t meet your bills, but it’s really bad for the economy if you look to resolve that, so if you could continue to struggle in the short term. That would be great’

or maybe try and ban people from advertising wages above last years averages?

I just got 5% plus they covered our national insurance rise. I was happy

NHS here and looks to be 3% for us, just waiting the announcement. 5% is good in comparison.

Private sector and we are getting 3%

What if they gave lower wage (say under 25k) workers a higher percentage than higher paid employees? Then it would help with the cost of living without as much of an impact on inflation wouldn't it?

Respiratory nurse here and not getting a penny so I'd be very happy with that.

@GingerFigs It’s a pity the financial sector didn’t heed the BoE advice.

amp.theguardian.com/business/2022/feb/16/weve-had-a-run-on-champagne-biggest-uk-banker-bonuses-since-financial-crash

I think for low wage workers thats fine or needs be even higher. Current inflationary pressures are due to Brexit, energy prices and soon food prices due to Ukraine. It's not because people's wages are high. If the government wanted to deal with inflation, they could have taxed energy company and this would have brought inflation down, but they ain't interested. All that BofE can do within its competences is interest rates and advise

Just to tell you the reality of working in the city. I left a very big bank in the city earlier this year and the people referred to in this article are a very small %

I didn’t get a pay rise in the 7 years I worked there. And bonuses, yes I got some over the years but it was maybe enough to cover a standard two week package holiday in Spain. I certainly wasn’t out drinking champagne and they are not guaranteed.

I didn’t leave my job for money but for other reasons and the new job pays pretty much the same and their pay rise/bonus culture is similar

So while there are some “bankers” taking the piss, the majority of “people working in banking” are doing usual admin jobs and not rolling in the money people think we are just because our office address is the City of London

To answer the OPs question I would be jumping for joy at a 5% pay rise

I’d take it tbh as we are looking at 3% in the NHS again and my partner who works for the council 1%.

We're getting 1.5 (teacher, private sector). I'd be thrilled with 3%.

What’s a pay rise? We certainly won’t be getting one.

I'd snap their hand off given we were told no pay rise at all this year. Needless to say I no longer work there.