London workers bargain for higher pay as economy grows
With the UK economy growing strongly, London’s job hunters are putting more emphasis on pay when searching for potential employers, new research shows.
Compensation is now the top factor when considering jobs with 20 per cent of Londoners saying they were most motivated by pay, according to survey figures released today by recruiter Randstad.
It is a fall on last year’s 22 per cent, but remains substantially higher than 11 per cent in 2012.
Workers starting out on their careers in 2013, 2014, 2015 have benefited from a recovering economy, and a biting skills shortage. This means they have been better placed to negotiate on starting salary, Randstad said.
“London has always drawn in money-motivated individuals, but the number of job-hunters who will select their future company based primarily on salary has doubled since 2012,” said Randstad UK chief executive Mark Bull.
“Today’s jobseekers are entering a capital bursting with opportunity, a city home to a third of all the jobs Britain has created since the recession, and a thriving financial and technology hub.”
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