City pay rises start to outstrip inflation as confidence returns

 
Tim Wallace
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ALMOST half of finance firms in the UK are increasing pay and bonuses this year, according to figures out today from recruiter Robert Half.

In Britain, 42 per cent of finance bosses expect to hike pay, almost in line with the 44 per cent who will do the same around the world.

Of those who expect to increase salaries, the average rise will come in at 6.1 per cent, around four times the level of inflation.

The scale of the increase reflects improving confidence in the sector, and shows the squeeze on living standards is coming to an end for City workers.

“The job market for UK accounting and finance professionals has tightened dramatically over the last couple of years, with businesses now paying a premium to recruit and retain top professionals,” said Phil Sheridan from Robert Half.