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Wednesday, February 21, 2024
    HomeMoneyThe employees having fun with the largest bonuses this 12 months –...

    The employees having fun with the largest bonuses this 12 months – and the smallest

    Finance and insurance staff have raked in twice as much in bonuses as some other industry, Telegraph evaluation of official figures shows.

    Weekly earnings data published this month by the Office of National Statistics (ONS) found that those working in finance pocketed a median of £18,000 a 12 months in bonus pay.

    Those receiving the smallest bonuses every month were those working in education, who earned £94 on average, followed by hospitality staff (£442) and health and social staff (£535).

    Last week’s data saw British wage growth slow by probably the most in almost two years – from 8pc to 7.2pc. Vacancies also fell by 45,000 to 949,000 within the September to November period.

    Nevertheless, pay continues to be rising too fast for the Bank of England to loosen up its stance on rates of interest. Last week, the Bank opted to carry the bottom rate at 5.25pc, while Andrew Bailey, the Governor, warned that there was “still some solution to go” in Britain’s inflation fight. 

    Data published by job site Adzuna also saw a pointy decline in salaries and vacancies. After consistent growth throughout the primary half of the 12 months, in November, UK job adverts fell by 2.72pc in comparison with October and were down 8.55pc in comparison with last 12 months.

    The web site also said 2023 was the worst 12 months on record for salary transparency, with fewer than half of jobs advertised since July disclosing pay. Despite reportedly low bonus pay, November saw the best year-on-year increase in teaching roles, with 120,000 teaching vacancies listed in June this 12 months, up 34pc from 2022.

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