The strong start to the year continues with solid numbers of new people starting in new roles. However, the number of new requirements from the consulting world has dipped slightly from last month, again. The main focus of the dow turn appears UK based with Europe and Asia up slightly.
This has resulted in very little movement in the salary and bonus figures we are seeing this month.
Whilst is lack of dramatic change might not be interesting in itself, it is important to note that salaries and bonus are at an all-time high and competition for staff is still staggering and so there will be upward pressure for some time to come.
Permanent salaries have been showing a steadily increase for the last 12 months. Upward pressure continues to be seen in the Senior Consultant to Senior Manager grades.
Bonus have been lower this year in areas not related directly to sales. However, past indicators suggest that a period of catch up is likely.
Needless to say that bonuses that rely on a heavy amount of sales remain strong and are expected to remain that.
However, we are noting, albeit anecdotally at the moment, that considerable pressure to deliver new sales is causing concern from Business Development Executives.
The chart to the left shows the combined effect of average base salary and average bonus reported and then combined into a total compensation package. No allowance for additional compensation is made such as cars, pensions and other such benefits.
Demand for Interim staff is as strong as ever, especially in mid grades, however, recent economic circumstances seem to be driving the boutique firms to working on an interim / associate model even though it's more expensive than hiring direct. We believe this will continue for some time.
Our data this month comes from 2309 people and 94 firms. Our normal smoothing was applied which includes removing the top and bottom 5% of the data and converting it to UK £ Sterling.
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