Latest PwC Monks survey findings

Director levels salaries have increased by an average of 6.4% over the past 12 months compared to only 3.9% for senior managers. The new data published by PwC Monks shows that director pay & reward is rising at a faster rate than that of senior managers.

The latest editions of PwC Monks Management Pay UK Parent Board & Corporate Posts and Divisions an Subsidiaries reports also show that salary increases in divisions and subsidiaries are generally lower than for their parent board and corporate post counterparts.

The median base salary increases for directors were 13.1% for UK parent board companies versus 4.8% for divisions and subsidiaries; and 4.4% for senior managers in UK parent board companies versus 3.6% for divisions and subsidiaries.

Our findings very much reinforce the perceptions evident in a number of recent press articles that pay differentials in the UK are widening, in a number of senses. Firstly, executive and management pay levels in the largest UK companies are pulling away from those in the medium and small company sectors. Secondly, increases at board level are producing ever wider gaps between executive pay levels and those for managers and staff. Thirdly, at a given job level we are seeing a widening range of pay, with much larger differences in the pay increases evident between the market median and upper quartile levels.

These findings represent data from over 500 survey participants and also consider detailed analysis of data extracted from over 1600 annual reports.

For further information about our management pay surveys and how you can apply the data in your own organisation, please contact Abu Amin or Gareth Packham.