Engineering manages year on year salary growth despite Brexit jitters
14 Feb 2020
Salary levels across the engineering sector continued to grow last year, with 2.1 per cent average sector increase over the previous 12 months, according to new data released by Reed Engineering.
The Reed Engineering Salary Guide 2020 – drawn from analysis of 7.5 million jobs in all sectors posted since the start of 2016 – revealed a 0.9 per cent growth in the number of jobs posted, but a 2.1 per cent average increase in advertised salaries.
The engineering industry was the fourth highest when it comes to average salary for its executive roles at £42,767.
With difficult trading conditions reinforced by business and consumer uncertainty over Brexit, the sector’s ability to maintain growth for both salary levels and the level of job roles being advertised since 2017, has been encouraging.
Spokesman Mark Brown observed: “The fallout from Brexit has meant engineering businesses have seen a large number of projects put on hold. Recruitment has taken a domestic focus due to the economic and political uncertainty that has been created.
“Yet, the sector continues to perform steadily and has been able to maintain salary levels for its employees in order to attract the best talent from a smaller pool. With greater clarity surrounding Brexit and an uplift in economic confidence, we expect to see an upward turn in salaries, as well as growth in roles.”
With greater clarity surrounding Brexit... we expect to see an upward turn in salaries
Mark Brown, spokesman, Reed Engineering
The biggest percentage of wage increases has been seen below £40,000, including CNC programmers (5.5 per cent) and field service engineers (2.9 per cent).
For salaries above £40,000, the highest increases have been for programme managers (5.6 per cent) and engineering directors (2.9 per cent).