N.Rich Average Pay Study

A new study of average salary figures has found that workers in companies providing professional, scientific and technical services have seen the biggest increase in their wages during the coronavirus pandemic.

In the period between January 2020 and July 2021, businesses operating in financial management, scientific R&D and agriculture have increased wages by 11.4%.

They are closely followed by arts, entertainment and recreation companies, which have seen the second highest increase of 10.84%.

Accommodation and food services have seen the lowest increase over the same period at just 0.75%.

Comparing ONS average wage figures, the study reveals that the average salary of someone working in professional, scientific or technical services has increased from £2,270 to £2,529 per month.

The finance and insurance sectors saw the highest raw average increase in monthly pay, rising from £2,883 to £3,191.

At the other end of the spectrum, those working in accommodation and food services have seen an average monthly increase of just £8 between January 2020 and July 2021. 

Construction services have also seen slow growth, with wages rising by just £23 per month.

Commenting on the findings, a spokesperson for the company that conducted the study, N.Rich, said: “This breakdown shows a number of interesting facts surrounding the UK’s most lucrative industries for personal financial growth over time.

“The rising demand for financial guidance, agricultural suppliers and medical research and development over lockdown has clearly impacted the wages received by the employees of these businesses.”

Key takeaways:

  • Sharp sectoral differences in average monthly pay have emerged during the course of the coronavirus pandemic
  • People working in knowledge intensive industries like science and technology have seen a marked increase in their salary while hospitality workers have seen virtually no increase
  • For more insights around the post-pandemic business landscape, head over to the UMi platform: https://www.weareumi.co.uk/webapp/
Richard Dawson
Article by Richard Dawson
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