Insurance pay lagging behind other sectors

Tim Wallace
Follow Tim
INSURANCE sector workers are losing ground to other professionals, a study from recruiters showed today.

Just six per cent of those in the insurance industry received a pay rise in the last year, compared with 41 per cent of all professional workers.

For instance, 32 per cent of workers in the technology sector were given a pay rise, and 27 per cent of accountancy and finance function workers saw their pay increase.

Beating all of them are workers in the property and construction sector – rocketing house prices have helped 44 per cent of the industry’s workers get a pay rise.

One-third of all professionals received a bonus in the year. In construction and property, the figure was 28 per cent.

Meanwhile 22 per cent of finance and accountancy workers received a bonus, and 16 per cent of technology professionals were given the award.

Overall, 57 per cent of professionals would choose a different career if they had their time again. Two-thirds of property and construction professionals wish they had chosen a different career. But only 47 per cent of finance workers agreed.