Pay Rises – should you be asking for one?

Posted in Candidates, PR

With a recovering economy and financial reviews at the major agencies either completed or underway, increasing numbers of candidates, frustrated by the stagnation that typified the recesssion, believe they deserve that long-awaited pay rise. Now.

In the past two months alone, we’ve had candidates – all talented individuals with great track records – submit ambitious, punchy salary requests either to move jobs or put the pressure on current employers. We’re not talking £2 – 3k, but £7k increases. More than one person has asked for a £20 – £25k pay hike at manager level.

Whilst we understand that the challenges of recent years has put the kybosh on promotion plans or new positions and can fully appreciate the desire to ‘return to business’ asap, expecting a salary rise of any substance may be premature.

Why? Because although many sectors are at last emerging from the economic equivalent of a cash coma, the recovery is still in its infancy and employers remain understandably cautious. A recent survey of 250 PRO’s, for example, found that only digital and consumer practioners in agency jobs have seen their salaries increase in the past year.

Post recession, it’s (still) all about patience. But take heart, advises Sarah Leembruggen, The Works, Managing Partner, “it’s not a question of if salary rises will return, but when.”