Total pay rose 1.8% in year to January 2015

pay-increases-istock-2015

Total pay, including bonuses for employees in the UK increased by 1.8% between the three months ending January 2014 and the three months ending January 2015, according to research by the Office for National Statistics (ONS).

This is lower than the growth rate of 2.1% between October to December 2013 and October to December 2014, according to its Labour market statistics. 

The study also found:

  • Average regular pay for UK workers was £457 per week before deductions such as tax.
  • Regular pay for UK employees, excluding bonuses and before deductions such as tax, increased by 1.6% between the three months ending January 2014 and the three months ending January 2015. This figure has changed very little compared with the growth rate between October to December 2013 and October to December 2014 (1.7%).
  • The average total pay for UK workers was £483 per week before tax and other deductions from pay.

Geraint Johnes, director at Lancaster University’s Work Foundation, said: “Pay has been an issue of considerable interest in recent months, with the apparent restoration of growth.

“While we might expect to see a continued recovery in pay over the course of the next year, sustaining such an increase will need the long awaited turnaround in productivity to be realised.”