Senior level City staff expect 21pc boost to their bonuses December 22, 2014 City workers are feeling more confident about receiving higher bonuses this year, despite several top firms suffering a shareholder backlash over excessive pay and concerns over the EU bonus cap which comes into force next year. Most senior staff expect to see their bonuses increase by 21 per cent for 2014, according to research released [...]
Rising wages and falling inflation boost workers December 17, 2014 Wages continued to beat inflation in the year to October, official figures revealed yesterday. Regular pay (excluding bonuses) was 1.6 per cent higher in the three months to October than the same period a year ago, according to the Office for National Statistics. Inflation as measured by annual growth in the consumer price index was [...]
Five charts that sum up the latest UK wage growth and unemployment report December 17, 2014 Unemployment is down again, but the real news is that wages sneaked above inflation in October, back when inflation was up at 1.3 per cent. According to data from the Office for National Statistics, both regular wages and wages including bonuses were rising above inflation, at 1.6 and 1.4 per cent respectively. This is a [...]
UK unemployment sticks at its lowest level in six years as wage growth accelerates to 1.6 per cent December 17, 2014 Is this a Christmas miracle? After six years of decidedly lacklustre wage growth, the Office for National Statistics' final labour report of the year has shown wage growth is finally beginning to pick up some speed. According to the figures, published this morning, growth in wages excluding bonuses hit 1.6 per cent in the quarter [...]
Ally McCoist resigns: Salary to increase to £750,000 as manager serves 12 month notice period December 15, 2014 Rangers Football Club has confirmed to potential investors that manager Ally McCoist has resigned and is serving 12 months' notice. During the notice period, the Rangers manager since 2011 will see his salary increase to £750,000 per year. McCoist’s contract with the club includes the 12-month notice period, but Rangers said in a [...]
Labour will make it illegal to undercut UK workers’ wages by paying foreign workers less December 14, 2014 Labour will today announce plans to make it illegal for employers to pay foreign workers less than their UK counterparts. Ed Miliband is set to crack down on companies that undercut British staff by taking on cheaper labour from abroad. It is the latest in a string of speeches from the Labour leader as he [...]
How to get a bigger Christmas bonus December 11, 2014 Some subtle boasting may be in order – even if you work at a relatively small company. It's that time of year when work calms down and Secret Santa gifts are exchanged. But while Christmas is generally a time for giving and altruism, thoughts in the City also turn to the reward you’ve grafted [...]
Boris Johnson praises Chelsea for becoming first Premier League club to adopt living wage December 11, 2014 London mayor Boris Johnson has praised Chelsea for becoming the first Premier League club to sign up to the living wage. The current league leaders have been accredited by the Living Wage Foundation which advises companies pay staff a minimum of £9.15 per hour in London and £7.85 per hour everywhere else. Workers [...]
FCA bosses give up their bonuses over insurance scandal December 10, 2014 The Financial Conduct Authority (FCA) said today directors including Martin Wheatley, its chief executive, will give up their bonuses as a result of an investigation into a botched press briefing over insurance. The organisation said today that Wheatley, director of supervision Clive Adamson, director of communications and international Zitah McMillan and director of markets David [...]
UK wages set to continue to beat inflation with a 2.5pc rise in pay over 2015 December 8, 2014 UK wages will continue to grow at a faster rate than prices, a management consultancy has forecast. Employees can expect to see a 2.5 per cent rise in pay over 2015, Hay Group said today. Meanwhile, inflation – annual growth in prices – is forecast to be 1.7 per cent in 2015, according to Hay [...]