According to research conducted by the recruitment firm Hays, businesses operating within the engineering and manufacturing, technology, legal, and finance sectors saw the biggest pay rises in 2024
Jobs with the biggest pay rises over the course of 2024 have been revealed.
With the cost of living continuously rising, many Brits want a job that will keep up with the ever-increasing costs. One New Year resolution for some may be to up their take-home pay, and although many don’t believe it, there are some industries that are seeing wages rise.
According to research conducted by the recruitment firm Hays, businesses operating within the engineering and manufacturing, technology, legal, and finance sectors saw the biggest pay rises in 2024. However, the biggest increase of 9.5% was seen within the engineering sector, with fabricator/welder roles seeing a pay increase of 9.5% across the year. The average salary sits at £33,500 a year – which is an increase of around £3,000.
Most welders and fabricators enter these jobs by completing an apprenticeship or by gaining certification through an industry body.
Taking second place with an increase of 9.2% on the average salary were surveyors, who earned an average of £55,400. This equates to an increase of almost £5,000 on the current salary. To get a role such as this, you will need a university degree in actuarial science, building surveying, business and management, economics, or engineering. However, you can also get into this profession through an apprenticeship.
The highest pay rise in value terms was given to technology cyber managers, who received an 8.5% increase over the course of last year. As wages in this role sat at £100,000, this meant pay rises sat at around £8,000. Meanwhile, industrial engineers and supervisors received higher percentage increases despite lower salaries, with employees receiving pay rises of 8.6% and 8.0% each.
According to the data, in-house lawyers – who have between seven and 10 years of experience – have an average salary of £87,625, and last year, their salaries rose 7.6%. Lawyers with just a year’s worth of post-qualification experience got a 7.2% pay rise over the year on an average salary of £54,000, which is still the eighth-highest average pay rise.
Pam Lindsay-Dunn, chief operating officer of Hays UK and Ireland, said: “Despite a tough labour market, the UK is still grappling with a critical skills shortage. Our top ten salary increases from 2024 highlight the areas most in need of talent. While these roles may not be the highest paying, they clearly show where skilled professionals are in high demand.’
“Engineering roles continue to dominate our salary increase lists, driven by an ageing workforce and a lack of new entrants to the workplace. In the tech sector, cyber roles are more crucial than ever as organisations strive to protect themselves from risk. Traditional finance and accounting skills remain sought after, with salaries for part-qualified accountants steadily rising.’
“In the legal field, midweight and newly qualified solicitors are in high demand, not just in the UK but also in the US, pushing salaries up. Overall, employers are doing their best to boost pay to attract and retain talent in this challenging market.”
Jobs with the biggest pay rises in 2024
- Fabricator/welder – Industry: engineering/ manufacturing – average salary: £33,500 – salary increase: 9.5%
- Risk surveyor/consultant – Industry: Insurance – average salary: £55,400 – 9.2%
- Industrial engineer – Industry: Engineering/manufacturing – average salary: £44,000 – 8.6%
- Technology cyber manager (operational) – Industry: Technology – average salary: £100,500 – 8.5%
- Site Supervisor – Industry: Engineering/ manufacturing – average salary: £45,000 – 8%
- In-house lawyer (7-10 Years PQE – commerce and industry) – Industry: Legal – average salary: £87,625 – 7.6%
- Part-qualified accountant (finalist) – Industry: finance – average salary: £41,375- 7.6%
- In-house lawyer (one year PQE) – Industry: Legal – average salary: £54,000 – 7.2%
- Software architect (Microsoft Stack) – Industry: Technology – average salary: £83,444 – 7.2%
- Contracts manager – Industry: Procurement – average salary: £53,667 – 6.8%
